Prosper Gold Corp. Acquires Additional 7,400 Hectares at Golden Sidewalk – Red Lake Ontario

VANCOUVER, British Columbia , Sept. 15, 2020 (GLOBE NEWSWIRE) -- Prosper Gold Corp. (“Prosper Gold” or the “Company”) (TSXV: PGX)  is pleased to announce that it has entered into an arm’s length agreement (the “Purchase Agreement”) to acquire a 100% interest in 372 mineral claims known as the “Claims”, adjacent to the Golden Sidewalk & Skinner projects (the “Project”) that the Company has optioned from Sabina Gold and Silver Corp. (“Sabina”) (see the below and the Company’s August 10th, 2020 news release).

 

“This acquisition increases our land position to over 16,000 hectares in Red Lake,” said Peter Bernier, President & Chief Executive Officer. “These newly acquired claims expand both the northern and southern boundaries of the Golden Sidewalk project. The northern portion of the acquisition covers multiple historic showings and extends the Bathurst mine trend to the east. The southern portion of the claims cover the remaining Balmer assemblage in the area.”

 

Exploration Update

 

Results from the 112 sample Phase 1 till survey are expected in the coming weeks (details of till survey are available in Company’s September 8th, 2020 news release). Prosper will systematically prospect areas highlighted in the historic surveys as well as increase the 2020 till survey to cover the newly acquired claims. The northern portion of the newly acquired ground was historically till sampled in 2003 by Fronteer Development Group (“Fronteer”) and Prosper will expand upon the Fronteer till survey now that the northern claims have been consolidated.

 

Figure 1. Golden Sidewalk Project Boundary

 

 

About the Golden Sidewalk

 

The Golden Sidewalk project is comprised of over 16,000 hectares of contiguous mineral claims & patents (see the company’s August 10th and September 8th, 2020 news releases for details) located approximately 70 kilometres northeast of the town of Red Lake, Ont. The project is accessible year-round through a network of well-maintained logging roads.

 

The Golden Sidewalk project area is underlain by rocks of the Balmer Assemblage in the southern portion of the property and the Narrow Lake Assemblage in the remaining portion of the property. The boundary between the Balmer and Narrow Lake Assemblages is taken where few pillowed flows and interbedded tuffaceous and sedimentary rocks (Balmer Assemblage) give way to abundant pillowed flows (Narrow Lake Assemblage). In the Narrow Lake area, the unconformity is also marked by the presence of quartz and feldspar xenocrystic, dacitic to rhyolitic crystal tuff, termed the Skinner porphyry.

 

For further information, please contact:

 

Peter Bernier

President & CEO

Prosper Gold Corp.

Cell (250) 316-6644

Email: Pete@ProsperGoldCorp.com