VANCOUVER, British Columbia, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) reports that crews and equipment have been mobilized to the Company's Cyprus Project in north-central British Columbia, Canada, to prepare access trails and drill pads for a diamond drilling program to be completed over the coming weeks. The Cyprus Project is a district-scale porphyry copper-gold project with several historically defined copper ± gold porphyry prospects and significant historical drill results including 138.2 metres at 0.55% copper.
"Crews are currently constructing access trails and drill pads for this highly anticipated winter diamond drilling program,” commented Peter Bernier, CEO. "We are very excited to drill test Target A. It is a two- by four-kilometre conductivity anomaly adjacent to a regional fault that coincides with a pronounced magnetic low, representing a very attractive porphyry target.”
Numerous multi-kilometre sized porphyry copper-gold targets were outlined from the Company's summer 2024 ZTEM survey results (Figures 1 & 2), including Target A. Target selection was largely based on the coincidence of conductivity highs and magnetic lows, interpreted to be associated with high-level porphyry mineralization and alteration. Target A is characterized as a two- by four-kilometre conductivity high anomaly that extends from just below surface to depth of greater than 500 metres. This large, pronounced conductivity high anomaly is spatially coincident with a two- by three-kilometre magnetic low anomaly that is interpreted to be associated with the intrusion of Eocene-aged, Kastberg Suite or Babine Intrusive Suite felsic rocks, both of which have been mapped by government geologists within 3 kilometres of the covered target. These Eocene-aged intrusions are known to be associated, in certain instances, with porphyry copper ± gold mineralization in this region of the Stikine Terrane.
Figure 1 - Cyprus Project - Total Magnetic Intensity from 2024 ZTEM with historical exploration highlights.
Figure 2 - Porphyry copper ± gold targets outlined by the summer 2024 ZTEM survey. Total Magnetic Intensity (top) and 30Hz in-phase Total Phase Rotated (bottom) showing relative conductivity at 400 - 500 metres depth.
About the Cyprus Project
The road-accessible Cyprus Project is situated in north-central British Columbia, Canada. The 623 square kilometre Project includes the historical Kaza and Northstar copper prospects (see the Company's February 20th, 2024 and February 26th, 2024 news releases for details) and represents a district-scale copper-gold porphyry exploration Project.
At the historical Kaza copper-gold prospect, soil samples up to 5.09 gpt gold and 10,000 ppm copper and surface rock chip samples from 1973 including 0.88% copper, 15.4 gpt gold and 120 gpt silver over 4.0 metres coincide with a 2,000 by 600 metre area of high IP chargeability and low magnetic response. The presence of sparse feldspar porphyry dikes and the sulphide assemblages present at surface suggest copper-gold porphyry mineralization may improve at depth.
Copper mineralization at the Northstar prospect consists of vein-hosted and disseminated chalcocite and bornite within faulted and fractured andesite. Surface trench sampling results includes 23.0 metres grading 2.1% copper and historical drilling intercepts include 0.55% copper over 138.2 metres. Zones of copper mineralization outlined by previous operators at the Northstar prospect are likely driven by a magmatic-hydrothermal system in the immediate vicinity.
The Big-Time prospect has not seen historical drilling despite the presence of a pronounced copper-bearing area of phyllic alteration that coincides with strong copper-molybdenum geochemistry, high IP chargeability and northeast trending feldspar porphyry dikes.
A heli-borne ZTEM (z-axis tipper electromagnetic) geophysical survey comprising 3,760 line-kilometres was completed over the entirety of the Cyprus Project in the summer of 2024. Numerous porphyry copper ± gold exploration targets were outlined, including Target A, which is characterized as a 2 x 4 kilometre conductivity high anomaly coincident with a 2 x 3 kilometre magnetic low anomaly proximal to a regionally mapped NW-trending fault.
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., Vice-President of Exploration for Prosper Gold and a Qualified Person under National Instrument 43-101. The results contained in this release were completed by previous operators of the Property. Although the Company was not involved in the original work in respect of these results, proper industry data verification procedures appear to have been followed.
For an overview of Prosper Gold please visit www.ProsperGoldCorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Peter Bernier”
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: [email protected]
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the planned exploration of the Cyprus Project, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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