Prosper Gold Corp. outlines several gold-in-till anomalies and samples high- grade gold at multiple prospects at Golden Sidewalk – Red Lake, ON
November 25, 2020 TSXV: PGX
NEWS RELEASE
Prosper Gold Corp. outlines several gold-in-till anomalies and samples high-
grade gold at multiple prospects at Golden Sidewalk – Red Lake, ON
Vancouver, British Columbia – November 25, 20 20 – Prosper Gold Corp. (" Prosper Gold " or the
"Company") (TSXV:PGX) is pleased to report rock and till sampling results from the 2020 exploration
program at the Golden Sidewalk Project (the “Project”) in the Birch-Uchi region of Red Lake. The Golden
Sidewalk is a district scale gold exploration project covering over 16 0 square kilometres of contiguous
mineral claims and mining leases (see the Company's Aug. 10, Sept. 8 , and Sept. 15, 2020 news releases
for details).
Highlights:
- 3 pristine gold grain anomalies outlined in 32 square kilometre reconnaissance till survey
- Channel rock sampling at two discrete zones, results include 1.0 metre grading 15.3 g/t gold
- Rock chip samples up to 16.3 g/t gold at Skinner North prospect, no historical drilling
“High grade gold in surface rock sampling at the Dunkin, KT Vein and Skinner North prospects gives us
confidence in existing targets prior to drilling,” commented Peter Bernier, CEO. “ We are excited by the
identification of three pristine gold grain anomalies near the regional unconformity . All three are in areas
with no historical drill programs and are exciting developments in our regional targeting initiative. The UC
anomaly area is our highest-ranking conceptual target based on available historical data and crews have
infill sampled this target. Results are expected in the coming weeks.”
Till sampling
The 2020 reconnaissance till sampling program at the Golden Sidewalk Project was designed to detect
anomalous gold-in-till near a regional angular unconformity between the Narrow Lake and the Balmer
Assemblages. Such regional unconformities may localize structural corridors for hydrothermal fluid
migration and gold mineralization. Till sampling at 250 m intervals was conducted along lines spaced at 1
km. Three areas with anomalous ly high gold grain counts were detected . A high proportion of the gold
grains are classed as pristine gold. This suggests a nearby bedrock source.
- 2 -
Figure 1. Map showing anomalies of pristine gold grains from 2020 till sampling survey.
The largest anomaly, the UC, has the highest pristine grain count (samples up to 143 gold grains with 78
pristine grains) directly north of the Narrow Lake / Balmer unconformity. The E-12 anomaly, also to north
of the unconformity, has the highest gold -grain-in-till sample of 149 gold grains (69 pristine grains). The
Balmer anomaly consists of 5 elevated pristine grain samples, coveri ng 1.25km, over the Balmer
Assemblage rocks to the south of the unconformity. The new till sampling results bolster the company’s
high priority geophysical and conceptual targets.
Channel rock sampling
Channel sampling and mapping was completed at the Joe Vein, Dunkin 2 and KT vein to gain insight into
gold mineralization at these area s. Results from the Joe Vein have been previously reported (see the
Company’s Nov. 16, 2020 news release) while the comprehensive channel sampling results for the Dunkin
2 and KT vein are provided below.
Table 1. Channel sampling results at Dunkin 2 and KT vein trenches (center of trenches at 509,176 E /
5,674,473 N, and 507,410 E / 5,679,072 N, respectively. Coordinates within UTM NAD 83 zone 15).
Trench ID Channel
ID
From
(m)
To
(m)
Interval
(m) Gold (g/t) Sample type
- 3 -
Dunkin 2 A 0 0.8 0.8 0.155 Saw-cut channel
Dunkin 2 A 0.8 1.6 0.8 0.045 Saw-cut channel
Dunkin 2 A 1.6 2.4 0.8 0.351 Saw-cut channel
Dunkin 2 A 2.4 3.2 0.8 0.273 Saw-cut channel
Dunkin 2 A 3.2 4.2 1.0 1.22 Saw-cut channel
Dunkin 2 A 4.2 5.2 1.0 1.14 Saw-cut channel
Dunkin 2 A 5.2 6.2 1.0 10.5 Saw-cut channel
Dunkin 2 B 0 1.0 1.0 15.3 Saw-cut channel
Dunkin 2 B 1.0 2.0 1.0 0.281 Saw-cut channel
Dunkin 2 B 2.0 3.0 1.0 0.245 Saw-cut channel
Dunkin 2 B 3.0 4.0 1.0 0.374 Saw-cut channel
Dunkin 2 C 0 1.2 1.2 0.296 Saw-cut channel
KT Vein A 0 0.4 0.4 0.007 Saw-cut channel
KT Vein A 0.4 0.8 0.4 3.1 Saw-cut channel
KT Vein A 0.8 1.3 0.5 BD Saw-cut channel
KT Vein B 0 0.3 0.3 0.014 Saw-cut channel
KT Vein B 0.3 0.6 0.3 27.2 Saw-cut channel
KT Vein B 0.6 1.2 0.6 0.053 Saw-cut channel
KT Vein C 0 0.4 0.4 0.105 Saw-cut channel
KT Vein C 0.4 0.7 0.3 12.3 Saw-cut channel
KT Vein C 0.7 1.1 0.4 0.071 Saw-cut channel
Figure 2. Plan map of Dunkin 2 Trench
- 4 -
The Dunkin 2 Trench is described as strongly sheared massive basalts belonging to the Narrow Lake
Assemblage hosting numerous sulphide-bearing quartz veins up to 1 metre in width. Sulphides observed
within quartz veins and in mineralized wallrock consist of pyrite and lesser chalcopyrite. Quartz veins
trending west -southwest have been deformed locally suggesting a relat ively early timing on gold
mineralization in the context of the deformational history of the Birch-Uchi greenstone belt.
Figure 3. Plan map of KT Vein Trench (BD denotes “below detection limit”).
The KT Vein Trench exhibits a quartz vein near the contact between sheared massive basalts belonging to
the Narrow Lake Assemblage and a west-northwest trending felsic dike. Sulphides within the quartz vein
include pyrite and lesser arsenopyrite and chalcopyrite. The west -northwest trend and the undist urbed
nature of the quartz vein suggest timing of the gold mineralization at the KT vein is related to the later D2
deformational event in the Birch-Uchi greenstone belt.
Rock sampling / prospecting
The season’s exploration included prospecting. A highlight of this work is the sampling of high-grade gold
at surface at the historical Skinner North prospect, an area that has seen no drilling to date. The Skinner
North prospect is 2.4 kilometres southwest of the historical Bathurst Mine. All 4 rock samples collected at
Skinner North are sheared and silicified mafic volcanics with fine pyrite and pyrrhotite vein fill. Results of
the sampling are provided below.
Table 2. Rock sampling results from the Skinner North prospect (coordinates within UTM NAD 83
zone 15).
- 5 -
Area Sample
ID
Easting
(m)
Northing
(m) Gold (g/t) Sample type
Skinner
North 707709 506,233 5,676,570 7.55 Rock - Grab
Skinner
North 707710 506,233 5,676,570 16.3 Rock - Grab
Skinner
North 707711 506,233 5,676,570 11.2 Rock - Grab
Skinner
North 707712 506,233 5,676,570 13.7 Rock - Grab
About the Golden Sidewalk
The 16,400-hectare Golden Sidewalk project is in the western Birch-Uchi Greenstone Belt, approximately
60 km east of Red Lake, Ontario. The vehicle -accessible project straddles 12 kilometres of the Balmer
Assemblage – Narrow Lake Assemblage unconformity, a regional-scale feature that has been the Red Lake
exploration guide, but which has seen limited exploration in the project area. Historical drilling programs
at the Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects reported high-grade gold intercepts
which warrant follow-up.
QA/QC Procedures
Channel samples were cut with a cut-off saw across select areas of previously stripped bedrock exposures
at medial widths and depths of 5 cm and 8 cm, respectively. Channel samples were collected and placed in
polyethylene bags, sealed with zip -ties shipped to Activation Laboratories Ltd. (“ActLabs”) in Timmins,
Ontario, where they were crushed and pulverized to 95% passing 105-micron mesh. Samples were analyzed
using ActLabs 1A2 -50 analytical package, whereby 50 g aliquots are subjected to gold fire assay and
finished with Atomic Absorption (“AA”) spectroscopy. Overlimit samples (> 5 g/t gold) were assayed with
ActLabs 1A3-50 fire assay package with a gravimetric finish. Internal laboratory standards were used and
checked upon analysis as a means of quality assurance.
Till samples were collected from below the colluvial soil profile at a medial depth of 50 to 75 centimeters
and placed into 5-gallon plastic pails which were sealed and shipped to Overburden Drilling Management
Ltd. in Nepean, Ontario for processing. The gold grain testing involves extracting an impure preliminary
heavy mineral concentrate from the -2 mm matrix of each sediment sample by tabling, separating any
recovered gold grains from the table concentrate and measuring each grain and classifying it acco rding to
its degree of physical wear.
Rock grab samples were placed into polyethylene bags which were sealed and shipped to SGS Laboratories
in Red Lake, ON, where they were crushed then pulverized to 95% passing 105 -micron mesh with 50 g
aliquots subjected to gold fire assay and subsequent AA finish. Overlimit samples (> 10 g/t gold) were
subjected to 50 g fire assay with a gravimetric finish. Internal laboratory standards were used and checked
upon analysis as a means of quality assurance.
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
- 6 -
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 fu ture, 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", "estimat e",
"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 statements of historical fact, included herein including, without limitation,
statements about the planned exploration of the Golden Sidewalk project, 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 even ts, 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 assoc iated with mineral exploration; fluctuations in commodity prices; title
matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest amo ng
certain officers, directors or promoters with certain ot her projects; the absence of dividends; competition; dilution; the volatility
of our common share price and volume and the additional risks identified the management discussion and analysis section of ou r
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 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 Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.