Prosper Gold Corp. announced that field crews have been mobilized in preparation for additional diamond drilling at the Cyprus Project in British Col

1. Prosper Gold is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Prosper Gold
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Prosper Gold Corp. (TSVX: PGX; OTCQB: PGXFF) announced that field crews have been mobilized in preparation for additional diamond drilling at the Cyprus Project in British Columbia. The upcoming drill campaign will focus on Target A, an area identified through a March 2025 Induced Polarization (IP) survey that outlined a significant 2,600 by 800 metre zone of higher chargeability approximately one kilometre southwest of earlier drill sites.

Initial drilling at Target A, conducted in early 2025, included three holes totaling 1,602 metres. These holes intersected variable degrees of quartz-sericite-pyrite alteration—known as phyllic alteration—within porphyritic intrusions. The combination of alteration, sulphide mineralization, and intrusive rock types observed in core samples suggests the periphery of a potential porphyry copper system was encountered. According to CEO Peter Bernier, “Our first three holes drilled at this newly identified target confirmed the presence of porphyritic intrusions and quartz-sericite-pyrite alteration.”

Prosper Gold's geophysical targeting draws on a 2024 ZTEM airborne survey that outlined a large magnetic low and conductivity high anomaly at depth. The follow-up IP survey conducted in March 2025 was designed to delineate disseminated sulphide mineralization within the system. It indicates that the center of the sulphide-rich zone may lie 1.2 kilometres southwest of drill hole DD25CYP002, where higher IP chargeability and coinciding resistivity highs suggest proximity to a hydrothermal center.

The Cyprus Project spans 623 square kilometres and includes multiple copper-gold porphyry targets, such as the historical Kaza and Northstar prospects. At Kaza, historical sampling returned up to 0.88% copper and 15.4 grams per tonne gold over four metres. At Northstar, past trenching and drilling yielded highlights including 23 metres of 2.1% copper and 138.2 metres of 0.55% copper. These mineralized zones are believed to be linked to magmatic-hydrothermal systems, a common host for porphyry-style copper deposits.

The upcoming drilling program is scheduled to begin in early June 2025 and will test IP chargeability highs aligned with a regional northwest-trending fault. The company’s technical team believes this could correspond to a zone of potassic alteration and associated copper mineralization, potentially representing a more central and higher-grade part of the porphyry system.

Safe-Haven Demand Reinforces Gold Sector Momentum

According to a May 21 commentary from Kitco, gold futures gained for the third straight session, with the June contract rising US$34.50 to settle at US$3,319.10. The rally followed reports that Israel may be preparing strikes on Iranian nuclear facilities, a development that significantly heightened geopolitical concerns. Over three trading days, gold prices increased by approximately US$98. The report noted that “today’s gains seem to be driven not by trade policies and tariffs, but rather directly from concerning intelligence reports,” highlighting gold’s continued role as a safe-haven asset during times of global uncertainty.

On May 22, FX Empire reported that gold climbed to US$3,345 in Asian trading, driven by deepening U.S. fiscal worries and a weakening dollar. The price movement was further supported by Moody’s downgrade of the U.S. credit rating to Aa1 due to long-term debt sustainability concerns. The article stated that “a US$3–US$5 trillion tax bill and weak bond auction added pressure to U.S. assets, lifting precious metal demand.” A senior commodities analyst quoted in the piece explained, “With growing uncertainty around U.S. fiscal policy and weakening macro indicators, safe-haven flows are likely to persist.”

That same day, Stockhead noted that Australia’s ASX All Ordinaries Gold Index rose 3.31%, following a 5% gain the day before. Despite a 0.45% drop in the broader ASX, gold stocks were the strongest performers, helping to buffer overall market declines. The report emphasized the market’s sensitivity to global sentiment and noted that “as uncertainty climbs, so does gold,” reflecting the commodity’s counter-cyclical appeal during periods of financial instability.

On May 23, Bloomberg commented that “one of the biggest beneficiaries of that US tariff announcement is going to be gold,” with investors shifting capital into safe-haven assets such as gold, the yen, and the Swiss franc. As high-beta U.S. equities declined, the risk-off sentiment bolstered the appeal of precious metals amid broader market caution.

In a quote from May 27, Newsletter Writer Chen Lin of What Is Chen Buying? What Is Chen Selling remarked, "Gold is moving up and down like a pinball upon Trump's tariff news. Platinum is having a big breakout due to “China demands”. This is encouraging as silver could be the next as investors are spreading their love of gold to other close associates. CDE announced share buyback, one of many this kind of announcement lately. Citi published a bearish report on gold recently. One of the key points was that the gold miners are making too much money! See attached. I don't agree obviously but I am only holding gold miners as they don't need gold prices to move up!"

What to Watch Next at Cyprus

In its April 2025 investor presentation, Prosper Gold highlighted its goal of defining a district-scale porphyry copper-gold system within the Stikine Terrane, a prolific mineral belt in central British Columbia. The company’s Cyprus Project is located approximately 60 kilometres north of American Eagle’s NAK Project and 100 kilometres north of the historical Bell and Granisle mines, both of which produced copper and gold from similar geological settings.

According to the presentation, Prosper Gold's 2024 and 2025 exploration programs were designed to de-risk drilling by identifying the most prospective zones through layered geophysical and geochemical datasets. This included a CA$450,000 ZTEM airborne survey, a CA$110,000 IP survey, and CA$550,000 for initial drilling. The upcoming CA$400,000 follow-up drilling campaign targets a zone with coincident chargeability and resistivity highs.

Several high-priority targets remain untested across the 623 square kilometre land package, including the Big Time prospect, which features mineralized felsic porphyry dikes, strong phyllic alteration, quartz stockwork veining, and a Cu-Mo soil anomaly. Additional potential lies in copper-in-soil anomalies east of the Northstar prospect.

The Cyprus Project benefits from British Columbia’s Central Mineral Exploration Tax Credit program, which includes a 30% provincial incentive and a 15% federal critical mineral exploration credit for flow-through financing. This adds potential value to ongoing exploration efforts as the company continues advancing its understanding of this underexplored region.

Ownership and Share Structure

According to the company, 19% of Prosper Gold is owned by management and insiders. Of those, CEO Peter Bernier owns 17.19% and Director Jason Hynes owns 1.24%, according to Refinitiv.

About 26% is with institutional investors and the rest is with retail investors.

According to Reuters, the company has about 56.76 million shares outstanding. Its market cap is CA$4.53 million and it trades in a 52-week range of CA$0.08 and CA$0.16.