Prosper Gold samples up to 882 pristine gold grains within 3.3-kilometre pristine gold grain-in-till anomaly at Golden Sidewalk – Red Lake, ON
December 1, 2020 TSXV: PGX
NEWS RELEASE
Prosper Gold samples up to 882 pristine gold grains within 3.3-kilometre
pristine gold grain-in-till anomaly at Golden Sidewalk – Red Lake, ON
Vancouver, British Columbia – December 1 , 20 20 – Prosper Gold Corp. (" Prosper Gold " or the
"Company") (TSXV:PGX) is pleased to report infill till sampling results from the 2020 exploration
program at the Golden Sidewalk Project (the “Project”) in the Birch-Uchi region of Red Lake.
Highlights:
- Infill till sampling has outlined a 3,300 x 500 metre pristine gold grain -in-till anomaly which
remains open for expansion
- Till samples containing up to 882 pristine gold grains
- Large-scale (>5 kilometre) conceptualized gold target, referred t o as the “Golden Corridor” ,
now supported by pristine gold grain-in-till results
“The Golden Corridor has become an exciting exploration target with the recently outlined pristine gold
grain-in-till anomaly,” commented Peter Bernier, CEO. “ The abundance and pristine nature of the gold
grains suggests the presence of a gold system in the immediate vicinity. The anomaly remains open and we
will be working to expand upon these results while preparing for the 2021 drilling season. This is a new
exploration target on the Project which has seen no drilling to date.”
Till sampling
Infill till sampling results at the UC Anomaly (see the Company's Nov. 25 news release for information)
collected late in the 2020 exploration season have been received by the Company . Of the 40 samples
collected and processed, 32 samples have pristine grain counts higher than 10, with sample UC -13
containing 882 pristine gold grains ( Figures 1 and 2). The high number of exceptionally large pristine
grains in sample UC -13 resulted in a contained gold concentration of 110.8 g/t gold ( Table 1). Glacially
transported gold grains with a pristine morphology have not travelled more than 100 metres (Averill, S.A.,
2001).
- 2 -
Figure 1. Photomicrograph of selected gold grains from sample UC-13. Note scale bar in lower left.
- 3 -
Figure 2. Photomicrograph of isolated gold grains from sample UC-13. Note scale bar in lower left.
Table 1. Select Golden Corridor till samples.
Sample ID Easting Northing
Total
gold
grains
Pristine gold
grains
% pristine
grains
Total gold
(ppb)
Total pristine
(ppb)
UC-13 509,000 5,673,000 882 882 100 110,770 110,770
UE-8 507,799 5,672,596 222 84 37.8 262 85
A-7 507,047 5,672,692 143 78 54.5 1,065 73
UC-10 508,206 5,672,640 92 57 62.0 115 83
Infill till samples were collected on a 200 x 200 metre grid where adequate sample media was available.
The survey infilled and extended the previously outlined UC Anomaly in both the up -ice (east-northeast)
and down-ice (west-southwest) directions ( Figure 3). The anomaly remains open to the east, north and
west.
- 4 -
Figure 3. Map highlighting anomalous gold grains-in-till at the Golden Corridor.
The Golden Corridor lies immediately north of a regional angular unconformity between the Narrow Lake
and Balmer Assemblages (Figure 4). Such regional unconformities may localize structural corridors for
hydrothermal fluid migration and gold mineralization. At least two linear targets with potential strike
lengths of greater than 5 kilometres have been identified based on the coincidence of IP resistivity high and
linear magnetic low signatures and their proximity to the regional unconformity. These targets are now
supported by the existence of a significant pristine gold grain-in-till anomaly.
- 5 -
Figure 4. Map showing Golden Sidewalk zones and prospects.
About the Golden Sidewalk
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) 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 recently identified “Golden Corridor” lies immediately
north of the unconformity in the western portion of the property and is characterized as a highly prospective,
greater than 5 kilometre trend of coincident favourable magnetic and resistivity lineaments supported by
highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres. Historical drilling programs at the
Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects reported high -grade gold intercepts
which warrant follow-up.
- 6 -
QA/QC Procedures
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. Average tabled sample weights were 10.9 kg for the infill batch presented in
this news release.
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.
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 express ions. 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 stateme nts 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 impli ed 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 liabili ty 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 ot her 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.