Prosper Gold (PGX-V) Sept 23, '14 is pleased to report results from the first 19 holes of its 2014 drill program on the Star Porphyry Copper Gold Project in northwestern British Columbia. Drill results confirm the deposit remains open to the north, northwest and northeast, with near surface higher grades occurring as drilling extends the discovery to the north.
A total of 6221.5 meters were drilled in the first 19 holes and represent the assays received up to this point. To date the deposit measures 550 meters north-south and 350 meters east-west. Results, tabulated below, summarize data for the holes which intersect the mineralized zone. Drill holes within the zone are tabulated from north to south; the table includes holes drilled last season (shown with **).
| DDH | FROM (m | ) | TO (m | ) | INTERVAL (m | ) | Cu % | | Au g/t | | Ag g/t | | Cu Eq% | | S042 | 2.74 | | 188.8 | | 186.06 | | 0.19 | | 0.048 | | 3.19 | | 0.21 | | incl | 84 | | 124 | | 40 | | 0.31 | | 0.101 | | 0.60 | | 0.37 | | S037 | 3.1 | | 664 | | 660.9 | | 0.22 | | 0.109 | | 0.42 | | 0.29 | | incl | 3.1 | | 188 | | 184.9 | | 0.26 | | 0.076 | | 0.37 | | 0.31 | | incl | 294 | | 390 | | 96 | | 0.32 | | 0.109 | | 0.60 | | 0.39 | | incl | 390 | | 416 | | 26 | | 0.95 | | 0.308 | | 1.35 | | 1.13 | | incl | 416 | | 538 | | 122 | | 0.22 | | 0.052 | | 0.38 | | 0.25 | | incl | 608 | | 620 | | 12 | | 0.04 | | 2.330 | | 2.25 | | 1.40 | | S038 | 10 | | 22 | | 12 | | 0.17 | | 2.110 | | 5.76 | | 1.40 | | S041 | 3.73 | | 202 | | 198.27 | | 0.38 | | 0.192 | | 0.70 | | 0.49 | | S028** | 8 | | 152 | | 144 | | 0.45 | | 0.260 | | 0.80 | | 0.60 | | S028** | 193 | | 270.77 | | 77.77 | | 0.43 | | 0.228 | | 0.78 | | 0.56 | | S046 | 13.85 | | 271 | | 257.15 | | 0.31 | | 0.171 | | 0.50 | | 0.41 | | incl | 30 | | 96 | | 66 | | 0.53 | | 0.304 | | 0.72 | | 0.71 | | incl | 20 | | 108 | | 88 | | 0.46 | | 0.272 | | 0.67 | | 0.62 | | S026** | 108 | | 273 | | 165 | | 0.43 | | 0.200 | | 0.78 | | 0.55 | | S043 | 7 | | 442 | | 435 | | 0.24 | | 0.071 | | 0.40 | | 0.28 | | incl | 7 | | 96 | | 89 | | 0.40 | | 0.182 | | 0.68 | | 0.51 | | incl | 282 | | 442 | | 160 | | 0.30 | | 0.080 | | 0.51 | | 0.35 | | S044 | 10.15 | | 54 | | 43.85- lost hole | | 0.24 | | 0.041 | | 0.18 | | 0.27 | | S040 | 3.9 | | 472 | | 468.1 | | 0.26 | | 0.067 | | 0.43 | | 0.29 | | incl | 3.9 | | 46 | | 42.1 | | 0.81 | | 0.172 | | 0.63 | | 0.91 | | incl | 352 | | 472 | | 120 | | 0.36 | | 0.129 | | 0.68 | | 0.44 | | S045 | 12.02 | | 119 | | 106.98-lost hole | | 0.77 | | 0.407 | | 1.02 | | 1.00 | | incl | 12.02 | | 76 | | 63.98 | | 1.12 | | 0.593 | | 1.30 | | 1.47 | | S048 | 2.06 | | 79 | | 76.94 | | 0.78 | | 0.550 | | 1.28 | | 1.10 | | S048 | 123 | | 411 | | 288 | | 0.33 | | 0.149 | | 0.56 | | 0.42 | | S024** | 4.88 | | 317.04 | | 312.16 | | 0.37 | | 0.240 | | 0.69 | | 0.51 | | S025** | 7 | | 276 | | 269 | | 0.42 | | 0.198 | | 0.61 | | 0.54 | | S027** | 7 | | 341 | | 334 | | 0.35 | | 0.110 | | 0.84 | | 0.41 | | S027** | 504 | | 576 | | 72 | | 0.27 | | 0.100 | | 0.57 | | 0.33 | | S029** | 11 | | 263 | | 252 | | 0.34 | | 0.210 | | 0.71 | | 0.46 | | S029** | 403 | | 428 | | 25 | | 0.20 | | 0.136 | | 0.61 | | 0.28 |
Complete results, with hole locations, striplogs, and photos are on Prosper's website at www.ProsperGoldCorp.com
Note: Lengths reported are drill core lengths; true widths of mineralized intervals are unknown. Assays are uncut, length-weighted average values. Copper equivalent (Cu Eq%) values are given for illustration only to express the aggregate content of copper and gold as a percent copper; this is no indication of recoverable metal. Copper equivalent is calculated using metal prices of US$3.00/lb Cu, US$1,200 per troy ounce Au. The calculation used is CuEq% = [Cu% + (Au g/t *0.583)].
Drill holes S030, 32, 33, 34, 35, 36, 38, 39, 44, and 47 were drilled on the margin of the central mineralized zone. The table below summarizes results from these holes and are listed north to south.
| DDH | FROM (m | ) | TO (m | ) | INTERVAL (m | ) | Cu % | | Au g/t | | Ag g/t | | Cu Eq% | | S030 | 7.2 | | 310.5 | | 303.3 | | 0.19 | | 0.046 | | 4.96 | | 0.22 | | S032 | 6.2 | | 302 | | 295.8 | | 0.12 | | 0.019 | | 0.20 | | 0.13 | | S033 | 3.89 | | 239 | | 235.11 | | 0.07 | | 0.011 | | 0.08 | | 0.07 | | S034 | 4.66 | | 308 | | 303.34 | | 0.05 | | 0.016 | | 0.23 | | 0.06 | | S035 | 4.8 | | 305 | | 300.2 | | 0.13 | | 0.047 | | 0.29 | | 0.16 | | S036 | 4.68 | | 297 | | 292.32 | | 0.07 | | 0.023 | | 0.23 | | 0.09 | | S038 | 4.1 | | 164 | | 159.9 | | 0.03 | | 0.220 | | 0.56 | | 0.16 | | S039 | 3.63 | | 268 | | 264.37 | | 0.04 | | 0.030 | | 0.77 | | 0.06 | | S044 | 10.15 | | 305 | | 294.85 | | 0.1 | | 0.027 | | 0.17 | | 0.12 | | S047 | 46 | | 276 | | 230 | | 0.17 | | 0.044 | | 0.26 | | 0.20 | | S047 | 314 | | 332 | | 18 | | 0.21 | | 0.071 | | 0.47 | | 0.25 |
Drilling was focused on defining the size of the mineralized system in advance of infill drilling for resource definition. Surface work this summer has extended visible surface mineralization at multiple targets on the Property including Pyrrhotite Creek and Star North.
Drilling extends mineralization to depth, the deepest hole S037 reached 664 metres and leaves Star open to extension. Continuity to the north is implied by these and earlier drill results and by chargeability and magnetic data.
The new drilling identifies a previously unknown zone of highly silicified gold bearing rocks at depth in S037 (12m of 2.33 g/t Au) and near surface in S038 (12m of 2.11 g/t Au). The surface oxidized zone above primary sulphide mineralization is dominated by malachite and azurite with local native copper. It was intersected in several holes broadening the known high grade secondary material.
Pete Bernier, the Company President and CEO comments, "In less than a year the company has nearly tripled the drill data and has grown Star target laterally and to depth. As a result the Star has developed into one of British Columbia's new copper gold project districts, with several new targets defined for future drilling including Star North, Star East, Copper Creek and Pyrrhotite Creek."
The property is underlain by volcanic and sedimentary rocks of the Upper Triassic, Stuhini Group which are intruded by a small quartz monzodiorite stock. This is a similar geologic setting to other Stikine Arch copper gold deposits including Imperial Metals Red Chris Deposit with a 2012 Measured and Indicated Resource of 936 million tonnes grading 0.37% Cu and 0.385 g/t Au.
The Property is optioned from Firesteel Resources Inc. (for further details, please refer to the Company's May 7, 2013 news release). |
