VANCOUVER, British Columbia, May 2, 2023 (Globe Newswire) — Prosper Gold Co., Ltd. (“prosper gold” or “company“) (TSXV:PGX) is pleased to introduce a high-priority exploration target in its recently optional Mojave Gold Project in Mojave County, Northwest Arizona, USA. (For details, please refer to our news release dated April 24, 2023.) Mojave’s large, low-sulfidation, exothermal gold system consists of three major mineralization trends, only two of which have seen historically shallow drilling.

Exploration target highlights:

• Dixie Trend – A 1.8 km x 1 km area of ​​epithermal alteration and gold mineralization from 26 historic small-scale mining operations. No historical drilling.
• Klondike Trends – The 1 km x 1 km area contains several zones of epithermal gold mineralization, including past-produced open pit and underground Klondike mines.
• Golden Door Trend – The 1.5 x 1 km area contains several high-grade gold mines that have historically produced only shallow drilling (average depth of 34 m).

“There are a number of very promising exploration targets for this project. We haven’t found a single one,” said CEO Peter Vernier.

Mojave Gold Project

Previous exploration by historic prospectors has outlined several mineralized zones through relatively shallow drilling, and through untested geochemical and geophysical surveys. Additional targets have been outlined. Extensive alteration and extensive gold mineralization outline his three mineralization trends: Golden Door, Klondike and Dixie. Despite the presence of highly unusual rock and soil geochemistry and numerous historical activities, Dixie Tendency has never been drilled.

dixie trends

The Dixie trend is characterized by moderate to steeply dipping quartz-calcite ± adularia-chalpine veins adjacent to quartz-sericite-pyrite alteration within an area of ​​1.8 km x 1 km. Historical composite chip sampling results up to 4.0 m grading 15.8 gpt gold show the potential of high grade gold on Dixie Trend. Despite the widespread presence of high-grade gold on the surface, the presence of anomalous gold in the soil, and the presence of 26 mines historically, the area has never been drilled. is not.

Historic mining operations in the area range from short shafts to the relatively large Dixie Queen mine (Figure 3). Higher gold grades are associated with quartz calcite vein breccias close to both NNW and NE trending structures. Significant amounts of levees persist across the Dixie Trend and are associated with extended structural corridors in a south-southwest to northeast direction.

klondike trends

The Klondike Trend is located at the center of the Mojave Gold Project and is characterized by locally steeply dipping quartz-calcite±adularia-chalcedony veins from the subhorizontal extending within a 1 km × 1 km range. The Klondike deposit has been interpreted as a low sulfided exothermal gold system with a sub-horizontal rotation of the originally sub-vertical veins, tilted nearly 90 degrees. This interpretation is supported by alteration mapping completed in 2020, showing high-temperature hydrothermal alteration (quartz-sericite-pyrite) in the east and high levels of low-temperature alteration (clay-hematite) in the west. . The presence of sporadic subvertical veins in this region is probably due to gold-bearing veins located relatively late in the diastolic period and associated westward rotation.

A total of 373 historic boreholes, averaging 43.4 meters in length, completed by historic operators in the 1980s and 1990s were primarily located in and around the previously productive open pit area of ​​the Klondike Mine. The focus was on defining shallow gold oxide mineralization. Historical drilling results at the Klondike mine prospect include 6.57 gpt gold at 9.1 m in drill hole M80R-003 and 5.63 gpt gold at 10.7 m in drill hole M87A-117. The Klondike deposit remains open to the northeast, west, and deeper.

At Apex Prospect, approximately 500 m north of the center of the Klondike mine deposit, borehole 89A-244 has captured up to 4.27 gpt of gold over 4.6 m, but drilling has been limited so far. Historical chip sampling approximately 500 meters southeast of the center of the Klondike mine deposit contains 8.56 gold above 2.0 meters and 8.16 gpt gold above 2.0 meters. An additional exploration target at depth below the strong quartz-sericite-pyrite alteration layer about 700m east of the Klondike mine deposit has been outlined by previous operators, but exploration has been limited. , no excavation.

golden door trend

The Golden Door Trend consists of a 1.5km x 1km area with six historic small-scale mining operations. Gold mineralization in this part of the land consists primarily of subhorizontal quartz-calcite ± chalcedony-adularia veins, vein breccias and mineralized tectonic breccias.

Of the six key prospects, five are shallow reverse circulation drilling and rotary airblast drilling. Past drilling results include 6.75 gpt gold at 7.6 m in drill hole M81R-035 at Golden Rum Observatory, 8.1 gpt gold at 4.6 m at drill hole M87A-083 at Golden Door Observatory, and 8.1 gpt gold at drill hole M80R at Golden Door Observatory. At 35.1 meters it contains 1.39 gpt of gold. -149 in scout prospects.

The Red Gap prospect, northwest of the Golden Door Trend, has never been drilled. In this perspective, over an area of ​​600 m x 250 m, local high-grade gold mineralization is consistent with highly unusual gold geochemistry in the soil. A large part of the golden door trend’s historic movement underpins the Red Gap outlook where silicified rhyolite yielded 8.91 gpt gold over his 1.6 m in 2020 chip sampling.

About Prosper Gold

Prosper Gold Corp. is a mineral exploration and development company focused on discovering high-grade gold deposits in stable areas. The Company owns a 100% interest in the Golden Sidewalk Project in the Red Lake mining sector in northwestern Ontario, Canada, and the recently optioned Mojave Gold Project in Mojave County, northwestern Arizona, USA. reserves the right to acquire 100% interest in

The Mojave Gold Project has a large, robust low heat sulfide hot surface gold system and historically has more than 40 small mines in operation, more than half of which have not been drilled to date. The project consists of 160 contiguous mining interests covering 1,176 hectares in northwest Arizona’s Mojave County. A well-developed network of access roads to the historic working and drilling sites is accessible by road. The project permits construction of up to 600 drilling sites and approximately 27 kilometers of access roads.

Golden Sidewalk covers over 160 square kilometers of contiguous mineral claims and mining interests in the western Birch Uchi Greenstone Belt, approximately 60 kilometers east of Red Lake and 60 kilometers northeast of Kinross Gold, Ontario. A district-scale Archean orogeny gold prospecting project. Dixie Project to be acquired from Great Bear Resources in 2022. Accessible by vehicle, the project spans 12 kilometers in the conflict zone between Balmer Assembly and Narrow Lake Assembly. This regional-scale feature has become an exploration guide for Red Lake, although limited exploration has taken place in 2018. project area. The ‘Golden Corridor’ lies just north of the incompatibility and is characterized as a very promising trend of matching favorable magnetic and resistive lineaments supported by a highly anomalous gold soil sample spanning 7.0 x 0.5 km. be done. An additional highly promising target area, called the Skinner North Target Area, has been defined for 2021, and channel sampling results for 2022 include 9.69 gpt gold above 3.0 meters and 13.13 gpt gold above 1.8 meters. until samples containing up to 1,014 gold grains have been drilled. High-resolution induced polarization surveys, completed in 2023, are to the west and east of the Skinner North Observatory, where the first drill will take place in 2022. A number of high-priority training objectives within a Skinner target have been outlined. Your program is complete.

qualified person

The scientific and technical information in this news release was reviewed by Rory Ritchie, P.Geo., Vice President of Exploration for Prosper Gold and qualified under National Instrument 43-101. The results included in this release were completed by the property’s previous operators. Although we were not involved in the original work on these results, it appears that appropriate industry data validation procedures were followed.

For an overview of Prosper Gold, please see here. www.ProsperGoldCorp.com.

On behalf of the Board of Directors

Per: “Peter Vernier”
Peter Vernier
President and CEO

For more information, please contact:

Peter Vernier
President and CEO
Prosper Gold Co., Ltd.
Mobile: (250) 316-6644
Email: This email address is being protected from spambots. JavaScript must be enabled to view.

Information contained in this news release may contain forward-looking statements under applicable securities laws. Forward-looking statements are statements about future events, not past events. In this context, forward-looking statements often refer to expected future business and financial performance and are often described as “expects,” “believes,” “plans,” Includes words such as “estimate,” “anticipate,” and “intend.” Actions or events “could”, “might”, “could”, “should” or “would occur” or other similar expressions. All statements other than statements of historical fact are included here. Statements regarding the terms of the option agreement, the potential for exploration of the property, the planned exploration of the property and the grant of royalties are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and our actual results, performance, achievements or other future events that may affect future results, expressed or implied by us. It includes other factors that could cause actual results to differ materially. such forward-looking statements. Such factors include, among others, the risks of: Need for additional funding. our ability to meet the antecedent conditions under the option agreement; Operational risks associated with mineral exploration. Fluctuations in commodity prices. Titles are important. Environmental Liability Claims and Insurance. Dependence on key personnel. Potential conflicts of interest with certain other projects among certain officers, directors, or promoters. No dividend. competition; dilution; volatility in the price and volume of our common stock and additional risks are subject to our interim and most recent annual financial statements or other reports and to the TSX Venture Exchange and applicable Canadian securities regulations. identified in the management discussion and analysis section of the filing. Forward-looking statements are based on management’s beliefs, estimates and opinions as of the date the statements are made, and we reserve the right to change these beliefs, estimates and opinions or if other circumstances change. We undertake no obligation to update any forward-looking statements except as required by us. Applicable Securities Laws. Investors are cautioned not to ascribe undue certainty to forward-looking statements.

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