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Prosper Gold continues Golden Sidewalk option near Red Lake

Jan 28, 2021

Prosper Gold Corp. has fulfilled a 6-month anniversary obligation of a previously announced option agreement for the Golden Sidewalk and Skinner Gold properties near Red Lake.

The company has issued 50,000 Prosper Gold common shares to Sabina Gold and Silver Corp. and incurred over $150,000 in exploration to date on the Property. Prosper Gold intends to fulfill additional obligations as described below with the objective of owning a 100% interest in the Property.

“In our first 6 months with this project, our team has completed surface rock & channel sampling, regional and infill till surveys and a high-resolution helicopter MAG/EM survey. We have identified a number of target areas and the Golden Corridor has become an exciting exploration target on its own with the recently outlined pristine gold grain-in-till anomaly,” commented Peter Bernier, CEO. “We look forward to drill testing and expanding the Golden Corridor to the east toward E-12 as well as following up on other areas identified by our team. We are fully funded for the 2021 exploration season and will announce our exploration plans in the coming weeks.”

Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9363ed79-9cc0-4191-acfe-add966ea714d

The Golden Sidewalk is a district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news releases for details) in the western Birch-Uchi Greenstone Belt, approximately 60 km east of Red Lake, Ontario. The vehicle-accessible project straddles 12 kilometres of the Balmer Assemblage – Narrow Lake Assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide, but which has seen limited exploration in the project area. The recently identified “Golden Corridor” lies immediately north of the unconformity in the western portion of the property and is characterized as a highly prospective, greater than 5 kilometre trend of coincident favourable magnetic and resistivity lineaments supported by highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres. Historical drilling programs at the Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects reported high-grade gold intercepts which warrant follow-up.

Tags: Northern Ontario / Exploration / Gold / All Articles