Business
Prosper Gold Corp. Acquires Galahad Leases and Increases Ontario Land Position to 9,813 Hectares
QUESNEL, BRITISH COLUMBIA--(Marketwired - April 21, 2016) - Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) is pleased announce that it h
About this update from Prosper Gold Corp.
[{"type":"text","content":"QUESNEL, BRITISH COLUMBIA--(Marketwired - April 21, 2016) - Prosper Gold Corp. (\"Prosper Gold\" or the \"Company\") (TSX VENTURE:PGX) is pleased announce that it has entered into an agreement with JCML Resources Inc. (the \"Agreement\") pursuant to which Prosper Gold will acquire 100% interest in 13 mineral claims and 9 mineral leases totalling 1,349 hectares surrounding the previously acquired Ashley Gold Mine. (See the Company's February 29 & March 1 2016 news releases). The Galahad leases cover a 1,700 meters segment of the northwest trending Galer Fault. The property was drilled in 1945, 1973, 1988, 1990 and 2010. Drilling was done over a 1,100 m stretch of the fault zone with most holes less than 100 m deep. Seventeen of twenty two holes intersected gold mineralization at shallow depth. Historic results include 10.63 g/t gold over 3 meters. The Galahad is approximately 2.5km south west of the Ashley Gold Mine. Pete Bernier, President and CEO, comments. \"This acquisition solidifies Prosper's land package surrounding the historic Ashley Gold Mine. Our land position now includes the Galahad property, a viable gold vein target in its own right. In coming months we aim to systematically prospect and survey the entire property with airborne, ground IP and extensive soil sampling to define strong drill targets. We are excited for the summer's exploration season.\" As consideration for the claims and leases, Prosper Gold will pay $50,000 and issue 100,000 shares of Prosper Gold to JCML Resources Inc. 5 mineral claims and 9 mineral leases are subject to a 2% NSR. The Agreement is subject to the approval of the TSX Venture Exchange. 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 Peter Bernier, President & CEO 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\", \"...