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Prosper Gold Enters Into Option Agreement to Acquire 100% of Mohave Gold Project, Mohave County, Arizona, USA
VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) is pleased to announce that Pros
About this update from Prosper Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (\"Prosper Gold\" or the \"Company\") (TSXV:PGX) is pleased to announce that Prosper Gold USA LLC, a wholly-owned subsidiary of the Company, has entered into a definitive option agreement (the “Option Agreement”) with DDS Resources LLC and Mohave Mine Partnership LLC (collectively, the “Optionors”), whereby the Optionors have granted the Company the option to acquire a 100% interest in the Mohave Project (the “Property”). Project Highlights: Large, robust low-sulphidation epithermal gold-silver system covering a 4 x 1.5 km area Project is permitted for up to 600 drill sites and up to 27 kilometers of access roads 619 historical drill holes totaling 23,244 metres - shallow holes averaging 37.5 metres depth with many bottoming in gold mineralization Over 40 abandoned mine workings (adits, shafts and declines) Large areas of anomalous rock and soil geochemistry and historical mine workings which have not seen any drilling “The opportunity to acquire the Mohave Gold Project was one we could not pass up,” commented Peter Bernier, CEO. “The exploration potential for high-grade gold on this project is clear and we look forward to drilling the multitude of mineralized zones, many of which have never been drilled. The Mohave Gold Project will complement Prosper Gold’s Golden Sidewalk project in Red Lake allowing for year-round exploration on two highly prospective land packages in low-risk jurisdictions.” Mohave Gold Project The Mohave Gold Project has a long history of exploration and small-scale mining dating back to 1865. Gold was discovered at the Dixie Queen Mine (Figure 1) in 1894. The Project is a low-sulphidation epithermal gold-silver prospect considered to be in the advanced exploration stage. The Project comprises 160 contiguous mining claims covering 1,176 hectares in the Mohave County, northwestern Arizona. It is road-accessible with a well-developed network of access roads to historical workings and drill sites. The Project is permitted for construction of up to 600 drill sites and approximately 27 kilometres of access roads. Exploration to date by historical operators has outlined several mineralized zones through relatively shallow drilling (refer to Table 1) along with additional targets outlined through geochemical and geophysical survey...