Business
Prosper Gold Outlines Large Area of IP Chargeability at Skinner North, Golden Sidewalk Project, Red Lake, ON
VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) is pleased to report results fro
About this update from Prosper Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (\"Prosper Gold\" or the \"Company\") (TSXV:PGX) is pleased to report results from its recently completed Induced Polarization (“IP”) survey over the Skinner North area at the Golden Sidewalk Project in Red Lake, Ontario. The survey outlines a large area of chargeability coincident with high resistivity, both of which represent favourable geophysical characteristics of a mineralized gold-bearing system. Given the disseminated nature of the mineralization seen in the Skinner North in Fall 2022 drilling, the IP survey results show there is significant exploration upside in this area of the project. “The recently completed IP survey results from the Skinner North suggest the presence of a large hydrothermal system given what we encountered in our November 2022 drill program,” commented Peter Bernier, CEO. “High chargeability over a large area coincident with resistivity high anomalies is what we were hoping to see and our team and technical advisors are prioritizing drill targets for testing.” Winter 2023 Skinner North IP Survey The area of high IP chargeability is approximately 2 square kilometers, continuing to the east, west and north of the Fall 2022 drilling (Figure 1). High resistivity anomalies adjacent to the contact between the Trout Lake Batholith to the west and mafic volcanics to the east may represent contact metamorphosed mafic volcanics and/or hydrothermal metasomatism from a gold-bearing system. To date, the Company has been looking to identify areas of resistive, competent rocks that are more conducive to brittle fracture and vein formation. The mafic volcanics adjacent to the intrusive contact is a high priority exploration target and represents a geological setting analogous to many world-class gold belts. The high-resolution IP survey covered over 5 square kilometres and was roughly centred on the Skinner North prospect which was drilled by the Company in November of 2022. The survey comprised approximately 25 line-kilometres at an a-spacing of 25 metres along 200 metre spaced lines and was designed to outline chargeable and resistive features that could indicate the presence of hydrothermal alteration and associated sulphide mineralization, some of which has been shown to be gold bearing based on 2022 drilling results (Figure 2)...