Prosper Gold is a micro-cap exploration company currently undergoing an ambitious drill program in Northern Ontario to hopefully make a new discovery and create wealth for shareholders of Prosper, a TSXV listed company trading under the symbol PGX.
Earlier this month, PinnacleDigest.com founder Alex Smith visited Vice President of Exploration Dirk Templeman-Kluit at Prosper's Ashley project near Timmins, Ontario, a famous gold mining area.
Templeman-Kluit says Prosper is the first explorer to make a significant effort on the Ashley property.
“The people who optioned the ground were not well equipped. They were like people going hiking without their boots. You need to make a commitment if you’re going to do something properly… and they were not committed. I think this is the first time since the 1930s that this property has got somebody to it that’s committed and we’re going to find something or prove there’s nothing here.”
The drill program is targeting several areas and will be adapted depending on results. Holes will be drilled to a depth of one kilometer.
Here's Templeman-Kluit again:
“We are going to drill 10,000 meters or 7,000 meters and the idea is to test the Ashley system carefully… to look if there’s more material than just the Ashley vein and to look for the main source of the mineralization that the Ashley obviously is not… There’s also the Garvey system, we’re going to test the connection between the Garvey system and the Ashley system, and the West Ashley system and Ezra (sp?) Lake system, all those things need to be tested by drilling. We’re going to test the Powell Lake syenite for parallels to the Young Davidson deposit. We may test the Galahad (sp?) which is another target we have here, depending on how the drilling goes. The drilling right now is focused on Ashley and is going to respond or react or grow or modify depending on the results we get there… For the time being we have half the drilling planned for Ashley itself and we’re drilling a long way west of Ashley.. 300 meters is our shortest hole. Our longest hole is 1000 meters. We know we got to go to depth. These deposits tend to be deep, not shallow… Its never been tested below 200 meters-this area, so its all virgin ground down there.”
Prosper Gold is a CEO.CA sponsor. This is not investment advice nor a recommendation to buy or sell any security. Exploration companies like Prosper Gold are highly-risky and not suitable for most investors. Thoroughly do your own due diligence and consult a licensed investment advisor prior to making trading decisions. The author is long PGX at the time of writing and may from time to time hold or transact in the securities mentioned. See Prosper Gold’s SEDAR profile for important risk disclosures.
