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Prosper Gold Identifies Gold-bearing System at Golden Corridor, Commences Phase 2 Drilling – Golden Sidewalk Project, Red Lake, ON
VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) has completed Phase I of explorat
About this update from Prosper Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (\"Prosper Gold\" or the \"Company\") (TSXV:PGX) has completed Phase I of exploration at the Golden Sidewalk Project (the “Project”), in the Birch-Uchi region of Red Lake, and is moving to Phase II. The Company has completed reconnaissance drilling totaling 15,040 metres in 48 diamond drill holes over 4 kilometres of the Golden Corridor. 43% of assay results have been received to date. Drilling has intersected a pronounced zone of ankerite ± biotite alteration with intermittent gold mineralization over an area 1,000 metres by 100 metres which corresponds with a magnetic-low anomaly (Figure 1). Phase 2 drilling has commenced and will include tighter spaced drilling at this newly identified target. Gold mineralization occurs as pyrite ± arsenopyrite ± fine visible gold in quartz-ankerite veins. Veins are up to 1 metre and within ankerite and/or biotite altered zones. Acicular, needle-shaped arsenopyrite (Figure 3), which is frequently observed in the Red Lake camp has been observed in several holes. Significant assays received to date are detailed in Table 1. “Phase 1 reconnaissance drilling has identified a gold bearing system which will be the focus of Phase 2,” commented Peter Bernier, CEO. “The newly identified zone has quickly become a high priority target to systematically test. Although we have received less than 50% of the assays, we are excited by the alteration, arsenopyrite, and specks of visible gold seen in the core.” Phase 1 diamond drilling Phase 1 drilling tested the structural corridor and paralleling trends (Figure 2) hypothesized to be the source of highly anomalous gold-in-till samples collected by Prosper Gold in 2020 and 2021. Wide-spaced drilling along an east-west trending swamp intersected highly strained ultramafic (peridotitic komatiites) with interbeds of basalt of varying thickness. Within the 1,000 metre by 100 to 150 metre footprint outlined in Figure 2 basalt interbeds are host to ankerite ± biotite alteration with gold mineralization comprising pyrite ± arsenopyrite ± fine native gold. Table 1. Significant assays received to date. Hole ID From (m) To (m) Interval (m) Au (g/t) DD21GC004 362.7 364.7 2.0 2.36 DD21GC011 162.5 164.0 1.5 3.89 DD21GC020 249.0 252.0 3.0 2.03 incl. 249.0 250.0 1.0 4.01 DD21GC023 323.0 353.5 2...