Prosper Gold Corp. Begins 10,000 m Drill Program Ashley Gold Project - Northern Ontario
April 4, 2017 TSXV: PGX
NEWS RELEASE
Prosper Gold Corp. Begins 10,000 m Drill Program
Ashley Gold Project - Northern Ontario
Quesnel, British Columbia – April 4, 2017 – Prosper Gold Corp. (“ Prosper Gold” or the “ Company”)
(TSXV: PGX) announces that personnel are on site at the Company’s Ashley Gold Project (the “Property”)
in northern Ontario to begin Phase 2 drilling . (For option details, please refer to the Company's February
29 & March 1, 2016 news releases).
"We are excited to begin drilling to systematically test the targets identified through 2016’s Phase 1
program," said Peter Bernier, President and CEO. "The multiparameter airborne geophysics combined with
the soil geochemistry surveys have been key to identifying new targets and delineating the structural context
for existing targets. We are fully funded to test the 5 targets over the entire Wydee claim block. We thank
the Resident Geologist Program (RGP) of the Ontario Geological Survey for working with us through our
targeting and providing valuable insights for Phase 2.”
Ashley Breaks Target (Prospectors Option)
Directly south of the Ashley Mine area is a profoundly disturbed pattern in the southern of three northwest
trending regular magnetic bands, first recognized from last season’s high resolution airborne surveys. The
disturbed zone is about 3 km long and 1 km wide. The regular magnetic bands are interpreted as magnetic
layers in the basalt sequence. The disturbed magnetic striping is interpreted to define five branching strands
of a strain transfer zone in a steep-dipping sinistral transcurrent fault. Drilling will assess the Ashley Breaks
at branches, bends and splays to test for gold mineralization and evidence of strain and deformation.
Galahad Target (100% Prosper Gold)
The Galahad has many of the Young -Davidson earmarks. It is a narrow zone of deformation on a steep
dipping crustal break called the Galer Fault, a branch of the CLLB (Cadillac Larder Lake Break). The fault
zone contains slices of ultramafic rocks, basalt, syenite and green carbonate (fuchsite mariposite bearing
ferrocarbonate). The Galer structure juxtaposes Abitibi greenstone on the north side and intermediate
volcanic rocks on the south. Drilling will test the known structure to depth beneath mineralization at surface
and in historic drill holes, none deeper than 110 m below surface.
Powell Syenite Target (Alexandria Minerals Option)
The Powell Syenite target is based on last season’s results of the soil survey. Soil sampling reveals core to
margin geochemical zoning over the syenite. The core has strongly elevated Pb, S, Hg, Ag, Sb. As, Te, Zn,
Mn and the north margin or halo zone has high Mo, Cu, W, Ni, Li, Co. Core to halo zoning is also seen in
the airborne magnetic data which displays a magnetic margin and a much weaker magnetic core. Similarly,
resistivity is elevated in the core compared to the margins. The core to margin geochemical and geophysical
zoning is interpreted as the r eflection of a hydrothermal systems demagnetized core. Historic exploration
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focused on the north margin of the syenite where it abuts the CLLB; this season’s drilling will test the
demagnetized core of the syenite body outward to the margin where the CLLB cuts syenite.
Arcuate Target (Alexandria Minerals Option)
The Arcuate Target is a new target identified from last season’s soil geochemical surveys. It is a 2km long
narrow linear multielement (Au, Ag, Cu, Hg, S) soil anomaly coincident with a total magnetic field (TMF)
low and strong gravity, radiometric, and resistivity signals. The linear feature runs northeast, between the
Argyle, McGill and Sunisloe gold occurrences. The arcuate feature, roughly orthogonal to the volcanic
sequence, terminates at its north in a circular multielement soil anomaly over the west margin of a syenite
stock. The geochemistry and geophysics together are interpreted as the ev idence of a steep dipping fault
that crosses the greenstone belt. Drilling will test beneath the interpreted structure and beneath the syenite.
Bends Target (Alexandria Minerals Option)
The Bends Target , about 1200 m east of Ashley, is where the interpreted trace of the CLLB between
ultramafic rocks and basalt bends from its general northwest trend to turn westward and then back
northwestward. It is marked by deep total field magnetic lows on the north. The western bend is intersected
by a linear magnetic high, presumably marking a north trending diabase dyke. Drilling will test the fault
bends as well as the area where the dyke crosses the western bend.
Phase 2 Plans
See www.prospergoldcorp.com/s/ashley.asp for detailed drill targeting diagrams.
Qualified Person
The scientific and technical information in this news release has been reviewed by Dirk Tempelman-Kluit,
PhD, P.Geo., a Qualified Person under National Instrument 43-101.
For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com
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.
Phone (250) 992-6644
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
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expressions. All statements, other than statements of historical fact, included herei n including, without
limitation, statements about the planned exploration of the Ashley Gold mine, are forward -looking
statements. By their nature, forward -looking statements involve known and unknown risks, uncertainties
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 expr essed 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; title matters; environmental liability claims and insurance; reliance on key personnel; the potential
for conflicts of interest among certain officers, directors or promoters with certain other projects; the
absence of dividends; competition; dilution; the volatility of our com mon share price and volume and the
additional risks identified 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 secur ities 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 required by applicable securities laws. Investors are cautioned against attributing undue
certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.