Prosper Gold Corp. (“Prosper Gold” or the “Company”) (TSXV:PGX) is pleased to announce that the Company has acquired an additional 60,512 hectares by means of staking to increase the Cyprus Project land position to 61,880 hectares.
“The acquisition of 150,000 acres of prospective ground in north-central British Columbia establishes the Cyprus Project as one of the largest in the region,” commented Peter Bernier, CEO. “The exploration potential of this newly acquired ground is bolstered by the presence of significant copper-gold mineralization at the Kaza and Northstar prospects. We will be systematically exploring this ground, beginning with a district-scale ZTEM survey covering 675 km2, generating targets under cover and at depth.”
The Cyprus Project
The road-accessible Cyprus Project is situated in north-central British Columbia, Canada (Figure 1). The 61,880 hectare Project includes the historical Kaza and Northstar copper prospects (see the Company’s February 20, 2024 news releases for details) and is considered 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 metre by 600 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 exist 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.
