Prosper Gold prepares for more drilling at Cyprus Project, British Columbia
Prosper Gold Corp. [TSXV: PGX] reported that field crews have been mobilized and preparations are being made to facilitate upcoming diamond drilling activities at the Cyprus Project, north-central British Columbia. Drilling will follow up on results of the ground-based Induced Polarization (IP) survey completed at Target A in March 2025.
“Our first three holes drilled at this newly identified target confirmed the presence of porphyritic intrusions and quartz-sericite-pyrite alteration,” commented Peter Bernier, CEO. “Results from the March 2025 ground IP survey have revealed a 2,600 by 800 metre area of higher chargeability roughly 1 kilometre to the southwest. We will be testing this highly chargeable portion of the system in this next round of drilling.”
Initial drilling tested a 2 x 3 km coincident magnetic low / conductivity high anomaly outlined in the company’s summer 2024 ZTEM (z-axis tipper electromagnetic) airborne survey. Three drill holes totaling 1,602 metres intersected variable amounts of quartz-sericite-pyrite (phyllic) alteration spatially associated with porphyritic intrusions. The presence of hydrothermal breccias, fracture-fill and disseminated pyrite mineralization and sericitic alteration suggest the drill holes intersected the periphery of a hydrothermal magmatic system that has the potential to host a porphyry copper deposit.
Following the maiden drill program, a deep-penetrating IP survey was designed to outline the distribution of disseminated sulphides within the hydrothermal system. IP results, along with alteration, lithology and pyrite mineralization observed in drill core, suggest the northeastern margin of the system was drilled. The survey results suggest the majority of disseminated sulphides occur 1.2 km southwest of the nearest drill hole (DD25CYP002).
The upcoming diamond drilling program, scheduled for early June, will test a pronounced IP chargeability high that coincides with a resistivity high in the immediate hanging wall of a regional northwest trending fault. The geophysical interpretation of the IP results suggests the potential for a body of sulphides associated with intrusive rock and/or potassic alteration potentially associated with the high temperature portion of a porphyry system.
The 623 km2 road-accessible Cyprus Project includes the historical Kaza and Northstar copper prospects and represents a district-scale copper-gold porphyry exploration project.
At the historical Kaza copper-gold prospect, soil samples up to 5.09 g/t gold and 10,000 ppm copper and surface rock chip samples from 1973 including 0.88% copper, 15.4 g/t gold and 120 g/t silver over 4.0 metres coincide with a 2,000 by 600 metre 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 improve 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.
The Big-Time prospect has not seen historical drilling despite the presence of a pronounced copper-bearing area of phyllic alteration that coincides with strong copper-molybdenum geochemistry, high IP chargeability and northeast trending feldspar porphyry dikes.
A heli-borne ZTEM (z-axis tipper electromagnetic) geophysical survey comprising 3,760 line-km was completed over the entirety of the Cyprus Project in summer 2024. Numerous porphyry copper ± gold exploration targets were outlined, including Target A, which is characterized as a 2 x 4 km conductivity high anomaly coincident with a 2 x 3 km magnetic low anomaly proximal to a regionally mapped NW-trending fault. Initial drilling at Target A indicates the presence of a magmatic-hydrothermal system related to porphyritic intrusions.