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PGX Prosper Gold Corp

0.12
0.00 (0.00%)
31 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Prosper Gold Corp TSXV:PGX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.12 0.115 0.12 0.12 0.12 0.12 12,500 20:53:36

Prosper Gold Drill Confirms Star Porphyry Copper Gold Discovery: Sheslay Project-Northwestern BC

30/09/2013 10:00pm

Marketwired Canada


Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) is
pleased to report results from the first three drill holes of a six hole 2339.74
metre drill program completed on the Sheslay porphyry copper gold project (the
"Property") located in northwestern British Columbia. This follows the
previously announced qualifying transaction with Firesteel Resources Inc. (May
7, 2013 news release) in which Prosper Gold may acquire an 80% interest in the
6,829 hectare Property.


Drill Program

Drilling during late August and September focused on the Star, the most advanced
of five targets. The drilling confirmed the results of the historic drilling and
tested for mineralization continuity to depth. 


Assay results for the holes are tabulated below. Details are given on the
company website at www.ProsperGoldCorp.com.




----------------------------------------------------------------------------
                                                                       Cu Eq
DDH   From(m)       To(m)  Intersection(m)    Cu %   Au gpt   Ag gpt    %(i)
----------------------------------------------------------------------------
S024     4.88  317.04 EOH           312.16    0.37     0.24     0.69    0.84
----------------------------------------------------------------------------
incl     4.88          82            77.12    0.66     0.55     1.11    1.02
----------------------------------------------------------------------------
incl       82         115               33    0.21     0.11     0.38    0.28
----------------------------------------------------------------------------
incl      115         201               86    0.34     0.16     0.38    0.45
----------------------------------------------------------------------------
incl      201         251               50    0.18     0.06     0.35    0.23
----------------------------------------------------------------------------
incl      251         287               36    0.38     0.19      0.7    0.51
----------------------------------------------------------------------------
incl      287      317.04            30.04    0.21     0.11     0.42    0.28
----------------------------------------------------------------------------
S025        7         276              269    0.42     0.20     0.61    0.88
----------------------------------------------------------------------------
incl        7          22               15    0.13     0.05     0.27    0.27
----------------------------------------------------------------------------
incl       22         259              237    0.46     0.22     0.65    0.95
----------------------------------------------------------------------------
incl      140         161               21    0.83     0.46     1.12    1.13
----------------------------------------------------------------------------
incl      259         276               17    0.17     0.06     0.32    0.32
----------------------------------------------------------------------------
S026       11     274 EOH              263    0.35     0.15     0.63    0.71
----------------------------------------------------------------------------
incl       11         108               97    0.19     0.06     0.36    0.23
----------------------------------------------------------------------------
incl      108         273              165    0.44     0.20     0.78    0.57
----------------------------------------------------------------------------



Widths reported are drill widths; true widths are unknown. Assays are uncut,
length-weighted average values. 


(i)Copper equivalent (Cu Eq%) values are given for illustration to express the
aggregate content of copper, gold and silver as a percent copper. This is
calculated assuming 100% metal recovery using metal prices of US$3.00/lb Cu,
US$1,300 per troy ounce Au and US$20 per troy ounce silver. The calculation used
is CuEq=Cu%+(Au g/t(i)0.632)+(Ag g/t(i)0.0097).


The holes intersected highly altered, strongly veined and pervasively
mineralized medium andesite and related volcano-sedimentary rocks. They are
correlated with the Late Triassic Stuhini Group. The rocks are intensely,
irregularly and intricately fractured and broken on centimeter to millimeter
scales. Alteration and mineralization are facilitated and in part localized by
the fractures. A range of alteration types and vein styles is seen. Alteration
includes silicification, potassic Kspar and biotite, magnetite, sericite,
epidote and chloritization. Veins include B type quartz veins and D type pyrite
veins. Alteration and veining are pervasive and intensity ranges from mild to
strong; fresh rocks are rare. Disseminated and fracture controlled chalcopyrite
is the primary mineral of interest.


The assay results reveal strong correlation between copper, gold and silver in
each drill hole. Results also demonstrate that Cu-Au-Ag mineralization is
independent of rock type. Notable is that mineralization is generally stronger
where magnetic susceptibility is elevated. Magnetite alteration in veins,
fracture fills and replacements is common where the susceptibility is elevated. 


"Pending drill holes have confirmed copper bearing porphyry style mineralization
to a depth of 598m from surface. This is the deepest confirmed mineralization to
date. Results for the remaining three drill holes will be released when
available," said Peter Bernier, President and CEO.


Quality Assurance/Quality Control

Prosper Gold has applied a rigorous quality assurance/quality control program at
the Sheslay porphyry copper gold project using best industry practice. The core
is logged; spot XRF measurements are made directly on the core at 33 cm
intervals and magnetic susceptibility measured at 10 cm intervals. Drill core is
sawn in half lengthwise at the property and for each metre half of the core is
placed in plastic bags and sealed. The remaining half core is retained in core
boxes stored at the project. The program includes chain of custody of samples
from drill to laboratory.


A standard sample, a blank sample, or a duplicate sample is inserted into the
sample stream every tenth sample. Two certified ore assay laboratory standards
used in the process were supplied by CDN Resource Laboratories Ltd., an
independent laboratory located in Langley, BC. In total, 107 quality control
samples (about 10% of 1087 samples) were analyzed. Prosper Gold detected no
significant QA/QC issues in reviewing the results. 


Samples, including those for quality control, are shipped to ALS Minerals'
preparation lab in Terrace, B.C. Samples were analyzed at ALS's ISO 9001:2008
certified North Vancouver laboratory for gold by fire assay and ICP-AES finish,
and for 48 elements including copper, molybdenum and silver by ICP-MS using four
acid digestion. 


Qualified Person

The technical information in this news release has been reviewed by Dirk
Tempelman-Kluit, PhD, P.Geo., a Qualified Person under National Instrument
43-101


For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com

ON BEHALF OF THE BOARD OF DIRECTORS

Peter Bernier, President & CEO 

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 terms of the Option
Agreement, exploration potential of the Property and terms of the proposed
financing 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.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prosper Gold Corp.
Peter Bernier
President & CEO
(250) 992-6644
pete@prospergoldcorp.com
www.ProsperGoldCorp.com

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