Prosper Gold Corp. (TSXV:PGX) has intersected gold mineralisation along 2.8 kilometres of the Golden Corridor trend at the Golden Sidewalk Project Red Lake, Ontario.
The company has completed reconnaissance drilling totalling 21,103 metres in 66 diamond drill holes over 4.8 kilometres of the Golden Corridor.
Drilling continues to outline a large hydrothermal system, intersecting ankerite ± biotite alteration with gold mineralisation.
Highlights:
- Hydrothermal system with gold mineralisation along 2.8 kilometres of structural corridor that is parallel and proximal to regional unconformity
- The system remains open to the east
- High grade intervals up to 22.7 g/t gold over 0.55 m
- Vein size, abundance, and degree of alteration increase with depth
- $2.5M in company treasury – drilling is ongoing
“Prosper has discovered a large hydrothermal system at the Golden Corridor,” CEO, Peter Bernier, said.
“The presence of the unconformity, the geology, scale, alteration, widespread gold in drilling and the high till samples down-ice tells us we are on to something significant.”
The hydrothermal system drilled to date is approximately 2.8 kilometres long and remains open to the east. Mineralization and alteration assemblages are relatively consistent along the mineralized trend. Pyrite ± arsenopyrite ± visible gold occurs in quartz-ankerite ± biotite veins and within silica-ankerite ± biotite altered wallrock.
The company has planned a series of deeper drill holes in the western portion of the system as vein thicknesses and hydrothermal alteration intensities are increasing at depth. Drill holes designed to test approximately 300 metres down-dip of the mineralised intercepts encountered in shallow drilling to date within the footwall (southern) fault zone at the western structural corridor.
Observations in drill core to date have shown that higher temperature alteration, predominantly a silica-biotite assemblage, enveloping larger veins and vein arrays persists in deeper intersections.
Additional drilling is planned for the eastern portion of the system where several gold intercepts were encountered in recent drilling which will be followed up on, including 22.7 g/t gold over 0.55 metres in drill hole DD21GC039.
Drilling in late 2021 in the eastern portion of the system at the Golden Corridor was successful in intersecting gold mineralised quartz-ankerite-pyrite veins and wallrock alteration. Drill holes DD21GC050 through DD21GC053 each intersected several intervals of gold mineralisation below the footwall fault that coincides with the ultramafic-mafic volcanic contact.
About the Golden Sidewalk
The Golden Sidewalk is a district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases 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 “Golden Corridor” lies immediately north of the unconformity and is characterised as a highly prospective trend of coincident favourable magnetic and resistivity lineaments supported by highly anomalous gold-in-till samples covering 7.0 by 0.5 kilometres.
For further information please visit: https://prospergoldcorp.com/
