Currently viewing Global edition

Currie tempts junior

Prosper Gold (TSXV: PGX) is planning further exploration at the Currie gold project in Ontario after wrapping up phase one drilling.
Currie tempts junior Currie tempts junior Currie tempts junior Currie tempts junior Currie tempts junior

The Currie project

Staff reporter

The latest results included 7.9m at 2.55g/t gold, 16.6g/t silver and 0.4% zinc, 45m northwest of the "massive pyrite intercept" reported in November of 19.6m at 1.04g/t gold, 118.7g/t silver and 1.6% zinc.

Prosper had entered an option agreement in March 2018 to acquire 100% of Currie, 8km south of the Destor-Porcupine fault and in what Prosper has described as the "very exciting and historically under-explored portion of the Timmins gold camp".

Prosper raised C$250,000 (US$187,000) in November in a private placement at 10c per unit to Stichting Depositary Plethora Precious Metals Fund, giving it 9.8% of Prosper on an undiluted basis.

The junior then raised a further $350,000 (US$262,000) at 12c per flow-through unit in December for exploration in Ontario.

Prosper expects to seek further debt or equity financing after reporting cash of about $210,000 (US$157,000) at the end of January, which it said would not be sufficient to meet its current liabilities of about $579,000 (US$$434,000) due within one year.

Its shares have ranged between 5.5-18c over the past year and closed up half-a-cent on Friday to 8c to capitalise it at $4.8 million (US$3.6 million).