QUESNEL, BRITISH COLUMBIA--(Marketwired - June 15, 2016) - Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) is pleased announce that it has partnered with CGG Multi-Physics for a comprehensive program of airborne geophysical surveys at both the Ashley Gold and Matachewan Projects (the "Properties") in Ontario.
The CGG surveys will characterize mineralization potential from surface to depth using a variety of proprietary world leading technologies. CGG will deploy their HeliFalcon® Airborne Gravity Gradiometer, Dighem® Frequency Domain Electromagnetics, and Midas® Ultra High Resolution Gradient Magnetic systems combined with Radiometrics; as well as Quantec Geoscience's ground based MT stations. This multi-parameter approach will provide Prosper Gold with a detailed property scale geophysical coverage over a 98 square kilometer area to assist in drill target selection.
Results of the CGG airborne geophysical surveys will be evaluated in conjunction with those from the previously announced comprehensive soil survey (See May 31, 2016 news release) to determine drill targets. The soil sampling is targeting near surface gold and alteration zones. The geophysical survey is targeting to depth and to trace structure trends.
The partnership benefits Prosper Gold by significantly reducing the cost to the company for this state-of-the-art survey and by improving geophysical targeting and through technical collaboration between CGG and PGX personnel.
The Junior Exploration Assistance Program, sponsored by the Northern Ontario Heritage Fund Corporation and the Ontario Prospectors Association, has committed to provide Prosper Gold with a grant of up to $200,000 ($100,000 per project) on approved eligible exploration expenses on both the Ashley Gold & Matachewan Projects. This grant reduces the cash cost to the company.
The partnership with CGG and the JEAP provides the Company with the opportunity to obtain a full suite of high-resolution airborne data that will greatly assist in our understanding and targeting of the Properties.
CGG Multi-Physics is a fully integrated global geoscience company, providing exploration solutions with unique technologies and international expertise. With CGG's unique and comprehensive suite of technologies, exceptional attention to quality control, project management and HSE standards they continue to provide their clients with outstanding service and valuable insight for any exploration challenge.
The Properties are under option. (for further details, please refer to the Company's February 29 & March 1, 2016 news releases).
Qualified Person
The scientific and 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 Properties and the planned exploration of the Properties 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; the Company's ability to satisfy conditions precedent under the Option Agreement; 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.
Contact Information:
President & CEO
Prosper Gold Corp.
Phone (250) 992-6644
Email: Pete@ProsperGoldCorp.com