Matachewan Project Update
October 9th, 2019 TSXV: PGX
NEWS RELEASE
Matachewan Project Update
Vancouver, British Columbia – October 9th, 2019 – Prosper Gold Corp. (“Prosper Gold” or the “Company”)
(TSXV: PGX ) is pleased to provide an update on its drill program at the Matachewan Project (the
“Property”). T he initial program includes prospecting, sampling, and diamond drilling to discover
mineralization nature, orientation, and continuity below and next to historic work at the Middleton Target.
“We have outlined a large anomalous area with coincident gold and copper mineralization along the
Cadillac-Larder Lake Break .” commented Peter Ber nier, CEO. “ We are encouraged by the potassically
altered syenite we have seen in the core and on surface. With more than half the holes already in the lab we
eagerly await assay results.”
Diamond Drilling
Seven diamond drill holes totaling 2,111 meters have been completed at the Middleton target . The holes
have been drilled in and nearby the anomalous area defined below. Samples from 4 holes have been sent to
Actlabs in Timmins, Ontario, for gold fire assay and multi -element analysis. The remaini ng drill core is
being processed at the Company’s core cutting facility in Matachewan and will be sent for analysis as they
are processed.
Most syenite seen in the core is strongly hematized and/or potassically altered, extensively fractured and
locally sheared with disseminated and fracture fill chalcopyrite and pyrite. Basalt, seen southeast of the
syenite, ranges from massive to fractured or sheared with local chalcopyrite or pyrite. The syenite -basalt
contact, on the north side of the Cadillac-Larder Lake Break (CLLB), trends east-northeast and dips steeply.
The contact is irregular and wide with the two rock types interlayered in drill core over many tens of metres.
Surface Sampling
Surface rock sampling was carried out at Middleton target to confirm and expand known historic results
and to help guide drilling. The new sampling and the historic data together outline a 250m by 200m area
with anomalous gold values. Of a total 108 samples, 8 are above 1 g/t Au (Up to a maximum of 2.6 g/t Au)
, and 43 above 0.1 g/t Au. The samples show elevated copper, coincident with gold values, and further
support the extent of the anomalous area.
Matachewan Project
Current drilling is focused on claims under option from O3 Mining Inc. The remainder of the project was
acquired through purchase and staking (See the Company’s March 1, 2016 and April 2 & May 7, 2019
news releases). It is a large prospective area (3,860 hectares) of mineral and patent claims covering 15km
of the Cadillac -Larder Lake Break (CLLB). The c laim block is 3 km east of Alamos Gold’s Young
Davidson Mine along the CLLB. Prosper Gold is targeting two styles of gold mineralization seen on the
claims: Bulk gold in syenite and high grade gold veins.
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Qualified Person
The technical information in this news release has been reviewed and approved by Dirk Tempelman-Kluit,
PhD, P.Geo., VP Exploration and Director of the Company and a Qualified Person under National
Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Peter Bernier”
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell (250) 316-6644
Email: [email protected]
Information set forth in this news release may involve forward -looking statements under applicable securities laws. Forward -
looking statements are statements that relate to future, not past, events. In this context, forward -looking statements often address
expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other
similar expressions. All statements, other than statement s of historical fact, included herein including, without limitation,
statements about the planned exploration of the Matachewan Project, are forward-looking statements. By their nature, forward -
looking statements involve known and unknown risks, uncertaint ies and other factors which may cause our actual results,
performance or achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward -looking statements. Such factors include, among others, the following risks:
the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; t itle
matters; environmental liability claims and insurance; reliance on key person nel; the potential for conflicts of interest among
certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the vo latility
of our common share price and volume and the additional risks identifie d the management discussion and analysis section of our
interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable
Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on
the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except as requ ired by applicable securities laws. Investors are
cautioned against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.