Prosper Gold Reports Drill Results and Outlines Additional Targets at Golden Sidewalk Project, Red Lake, ON
May 17th, 2022 TSXV: PGX
OTCQX: PGXFF
NEWS RELEASE
Prosper Gold Reports Drill Results and Outlines Additional Targets at
Golden Sidewalk Project, Red Lake, ON
Vancouver, British Columbia – May 17th, 2022 – Prosper Gold Corp. ("Prosper Gold" or the "Company")
(TSXV:PGX) reports remaining results from its inaugural drilling program and the outlining of an
additional high-priority, kilometre-scale target at the Golden Sidewalk Project Red Lake, Ontario.
Golden Corridor Diamond Drilling
Over the course of its 2022 winter drilling program, t he Company has completed 6,741 metres in 21 drill
holes over 2.8 kilometres of the Golden Corridor trend (Figure 1). Drilling continues to outline a large
hydrothermal system with associated ankerite ± biotite alteration and gold mineralizatio n over a 2.8
kilometres long trend and to depths of over 500 m. Significant gold intercepts are outlined in Table 1 below.
Mineralization encountered in drilling at the Golden Corridor to date occurs in three dominant styles:
1. Arsenopyrite-pyrite-pyrrhotite ± gold in quartz-carbonate veins.
2. Pyrite ± gold in quartz-ankerite veins within mafic interbeds internal to sheared ultramafic unit.
3. Arsenopyrite-pyrite-pyrrhotite replacing sulphide and oxide facies Banded Iron Formation and
associated with silicification ± quartz veining.
“The Company has been aggressively drilling the Golden Corridor for the past eleven months, as well as
developing additional target areas on our large land position ,” commented Peter Bernier, CEO. “ Moving
forward, we look to advance and drill test the most compelling targets outlined in 2021 which will include
targeting higher grade domains at the Golden Corridor.”
The Company has commissioned a third-party structural study on the 2021/2022 Golden Corridor drilling.
Interpretation of all oriented core and televiewer data will provide insight into target ing higher grade
domains within the varying l ithological and struc tural settings ( Figures 2 & 3 ) that make up the overall
hydrothermal system.
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Figure 1. Plan map of drill holes along mineralized trend of Golden Corridor.
Figure 2. Plan map showing various lithological and structural settings
associated with gold mineralization at the Golden Corridor.
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Figure 3. Schematic geological cross section showing lithological and structural settings
associated with gold mineralization at the Golden Corridor.
Table 1. Significant assays from 2022 diamond drilling.
Hole ID From (m) To (m) Interval (m) Au (g/t)
DD22GC068 393.65 399.53 5.88 3.13
and 429.5 431 1.50 1.86
DD22GC070 33.2 34.7 1.50 1.18
and 80.72 81.22 0.50 1.85
and 159.17 159.6 0.43 1.56
and 164.61 165.2 0.59 12.50
DD22GC072 162.5 163.5 1.00 8.52
and 165.95 166.45 0.50 1.21
DD22GC079 154.3 155.3 1.00 1.48
DD22GC084 104.4 104.9 0.50 14.20
DD22GC086 158.5 159 0.50 1.57
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and 171 172.5 1.50 2.22
DD22GC087 272.04 276.23 4.19 3.52
** true widths are unknown
Table 2. Drill collar details of specified drill holes (coordinates provided in UTM NAD83, zone 15).
Hole ID Easting (m) Northing (m) Azimuth (°) Dip (°) Length (m)
DD22GC068 509563 5673348 185 -80 671
DD22GC070 510796 5672738 187 -45 251
DD22GC072 511044 5672629 205 -45 251
DD22GC079 510703 5672755 192 -45 251
DD22GC084 509801 5672923 178 -45 251
DD22GC086 509506 5672913 177 -45 251
DD22GC087 509156 5673256 185 -80 563
Additional High Priority Target Area – Skinner North
Between June 2020 and October 2021, the Company has been defining exploration targets at the Skinner
North target area. Results from Prosper Gold’s rock chip sampling at the Skinner North showing include
16.3 g/t gold and 13.7 g/t gold from east-west trending quartz veins. The veins are up to 0.5 m wide with
iron-carbonate and biotite wall-rock alteration. The Skinner North target area is characterized as a series of
east-west trending faults and shears with strong alteration and local gold mineralization. The faults and
shears are axial planar to kilometre-scale, east-northeast plunging folds.
There are numerous historical trenches and pits at the Skinner North target area where glacial cover is
shallow. Thicker glacially deposited sand has made exploration in this area challe nging, however, till
sampling in this area was made possible by utilizing the 2021 LiDAR imagery to pick out sites where basal
till is exposed through the thicker sand cover. The results from the 2021 till sampling completed in late
2021 have outlined a 3 -kilometre gold grain -in-till train with individual samples containing up to 1,014
gold grains (Figure 4).
The presence of gold mineralization in surface exposures associated with east -west trending axial planar
faults in a favourable geological and struct ural setting now supported by a significant gold grain -in-till
anomaly has made the Skinner North a high priority exploration target. Prosper will begin groundwork at
this never before drilled area upon its return to the project after Spring break up.
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Figure 4. Plan map showing all till samples collected and processed by Prosper Gold on
the Golden Sidewalk Project and select rock samples.
About the Golden Sidewalk
The Golden Sidewalk is a district -scale gold exploration project covering over 160 squar e kilometres of
contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news
releases for details) 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. The “Golden Corridor” lies im mediately north of the
unconformity and is characterized as a highly prospective trend of coincident favourable magnetic and
resistivity lineaments supported by highly anomalous gold -in-till samples covering 7.0 by 0.5 kilometres.
An additional highly prospective target area was defined in 2021, termed the Skinner North Target Area,
where rock samples up to 16.3 g/t gold and till samples containing up to 1,014 gold grains have not been
followed up with drilling.
QA/QC Procedures
Quality assurance and quality control measures implemented by the Company include the insertion of
certified reference materials in the sample sequence at a rate of 1 in 20 for both blank material and certified
reference standards. Analytical results for reference standard and blank samples are scrutinized internally
to ensure adequate analytical precision and accuracy in both sample preparation and instrumental
procedures. A chain of custody from drilling to laboratory is strictly monitored to ensure sampl e and
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analytical integrity and reliability. Half-split core samples are sent to AGAT Laboratories in Thunder Bay,
Ontario, where they are analyzed in 50-gram aliquots using Fire-Assay with ICP-OES finish. Any overlimit
analyses (>10 g/t Au) are re-analyzed with a pulp metallic screen method designed to give the most accurate
representation of gold concentration in each sample. AGAT Laboratories in Thunder Bay, ON, is an
accredited testing laboratory having been assessed by the Standards Council of Canada (S CC) and found
to conform with the requirements of ISO/IEC 17025:2017.
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo.,
Vice-President of Exploration for Prosper Gold and 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.
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", "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 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 personnel; 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 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 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.