Source: Streetwise Reports 09/18/2024
This mining professional was involved in discovering and delineating a 30 billion pound copper resource in Panama. Read on to learn more about him.
Prosper Gold Corp. (OTC: PGXFF) appointed Colin Burge, a retired exploration geologist with a 30-year career, as an adviser to the company starting immediately, it announced in a news release.
"Colin brings a wealth of porphyry knowledge and expertise to our team" President and Chief Executive Officer Peter Bernier said in the release. "We look forward to Colin's expert engagement and assistance in guiding exploration at the Cyprus project and future development opportunities for the company."
Burge's expertise lies in discovering and delineating porphyry copper and volcanogenic massive sulfide (VMS) deposits, mostly using geophysical techniques.
Discovery-oriented Burge was part of Inmet Mining Corp.'s corporate development team that led on-site geological activities that resulted in the discovery and delineation of 30,000,000,000 pounds of copper at the Cobre Panama project in Panama. Subsequently, First Quantum Minerals Ltd. (OTC: FQVLF) acquired Inmet for US$5 billion (US$5B) in 2013.
Previously, Burge managed exploration activities at the Cayeli copper-rich VMS deposit in northeast Turkey and conducted project work in Peru, Australia, Nevada, and Greece for various companies, including Falconbridge Copper Ltd. in British Columbia. He has a bachelor of earth science degree from the University of Waterloo.
Since retiring in 2016, Burge has been evaluating properties for senior and junior mining companies in Canada and the U.S.
In another news announcement in the release, Prosper granted 150,000 stock options to its chief financial officer and an aggregate of 350,000 options to certain of the company's advisers and employees. Options may be exercised over the next years at CA$0.15 per share. They will vest equally every six months over a two-year period.
District-Scale Exploration
Prosper Gold, headquartered in Vancouver, British Columbia (B.C.), is a minerals explorer concentrating on porphyry copper-gold and high-grade gold vein systems, according to its website. Modeled after its predecessor Richfield Ventures, bought out after defining a multimillion-ounce resource, Prosper pursues "the right type of projects at the right time in an improving market."
The company has two district-scale exploration projects in Canada: Cyprus in north-central B.C. and Golden Sidewalk in northwestern Ontario
Cyprus, the focus of a current exploration program, is a porphyry copper-gold project comprising 623 square kilometers (623 sq km) of contiguous claims in part of an Eocene porphyry belt. It is on trend with American Eagle Gold Corp.'s (OTC: AMEGF) NAK Project, 60 km to the south in the same metallogenic belt, Technical Analyst Clive Maund reported in an Aug. 16 report.*
The three known copper prospects at Cyprus are Kaza, Northstar, and Big-Time. Historically, the property showed 138 meters (138m) of 0.55% copper. Most recently, a property-wide ZTEM survey was conducted, which outlined six high-priority porphyry copper-gold targets, named Targets A through F, undercover, in areas with little to zero outcrop. They were shown to have multikilometer footprints extending to depth.
Of the sextet, Target A is the highlight as it "represents a very attractive porphyry target." Next to a regional fault, ...
