Prosper Gold Corp. (TSXV: PGX; OTCQB: PGXFF) has mobilized field crews in anticipation of a new phase of diamond drilling at its flagship Cyprus Project in British Columbia. This expansion targets a high-potential area identified through a March 2025 Induced Polarization (IP) survey, revealing a 2,600 by 800-meter zone of elevated chargeability approximately one kilometer southwest of earlier drill sites.
Initial 2025 drilling at the newly defined “Target A” comprised three holes totaling 1,602 meters. These intercepts revealed varying intensities of phyllic alteration—quartz-sericite-pyrite—within porphyritic intrusions, signaling the outer margins of a potential porphyry copper system. “Our first three holes at this new target confirmed the presence of porphyritic intrusions and quartz-sericite-pyrite alteration,” said CEO Peter Bernier in a company statement.
The Target A drill campaign follows Prosper Gold’s 2024 ZTEM airborne survey, which identified a deep magnetic low and conductivity high anomaly. These findings were further refined by the March 2025 IP survey, aimed at outlining disseminated sulphide mineralization. The strongest IP response is located approximately 1.2 kilometers southwest of drill hole DD25CYP002, where elevated chargeability and resistivity suggest a potential hydrothermal center.
Cyprus Project: A District-Scale Opportunity
Spanning 623 square kilometers, the Cyprus Project hosts several historical and emerging copper-gold porphyry prospects, including Kaza and Northstar. Past results at Kaza yielded up to 0.88% copper and 15.4 grams per tonne (g/t) gold over four meters. At Northstar, trenching and drilling uncovered intervals such as 23 meters grading 2.1% copper and 138.2 meters at 0.55% copper.
The next drill program, set to begin in June 2025, will test IP chargeability highs aligned with a regional northwest-trending fault. Prosper Gold’s technical team believes these geophysical signals may indicate potassic alteration zones—typically associated with the core of porphyry copper systems and higher-grade mineralization.
Safe-Haven Demand Boosts Gold Sentiment
Meanwhile, market conditions continue to favor the precious metals sector. Gold futures climbed for a third consecutive session on May 21, closing at US$3,319.10 per ounce. The rally was fueled by geopolitical tensions, notably reports of possible Israeli strikes on Iranian nuclear infrastructure. Over three trading days, gold surged by approximately US$98, reaffirming its role as a safe-haven asset.
On May 22, FX Empire reported that gold prices reached US$3,345 in Asian trading as U.S. fiscal concerns intensified and the dollar weakened. The uptick followed Moody’s downgrade of the U.S. credit rating to Aa1, amid growing fears over long-term debt sustainability. “A US$3–US$5 trillion tax bill and weak bond auction added pressure to U.S. assets, lifting precious metal demand,” analysts noted.
Australia’s ASX All Ordinaries Gold Index reflected similar sentiment, rising 3.31% on May 22 after a 5% gain the previous day. In contrast, the broader ASX dropped by 0.45%, underscoring gold’s counter-cyclical appeal. Bloomberg analysts added on May 23 that “one of the biggest beneficiaries of the U.S. tariff announcement is going to be gold,” as investors pivoted toward safer assets.
Independent newsletter writer Chen Lin noted the volatility driven by macroeconomic and geopolitical headlines: “Gold is moving up and down like a pinball upon Trump’s tariff news. Platinum is having a big breakout due to China demand. Silver could be next.”
Analyst Sees Strong Upside for Prosper Gold
In an April 22 analysis, veteran technical analyst Clive Maund issued a bullish call on Prosper Gold, rating it an “Immediate Strong Buy for all time horizons.” He highlighted the company’s dual focus on the Cyprus Project in British Columbia and the Golden Sidewalk Project in Ontario as offering high upside in a favorable metals market.
Maund praised Prosper Gold’s exploration strategy and data integration, citing the 2024 ZTEM survey and recent IP work as identifying six new high-priority targets. He noted substantial early discoveries at Cyprus, including the Big Time, Kaza, and Northstar zones, providing “plenty to work on and work towards.”
Importantly, Maund emphasized the leadership of CEO Peter Bernier, who previously guided Richfield Ventures to a major gold discovery, resulting in a CA$550 million acquisition in 2011. “It is highly unlikely that Bernier would be involved if the company lacked real potential,” Maund commented.
From a technical analysis standpoint, Maund highlighted increased trading volume since late 2023, largely on the upside, which he interpreted as a signal of institutional accumulation. He forecast short-term share price targets in the CA$0.18–CA$0.20 range, with long-term technical potential as high as CA$2.40.
Next Steps in 2025 Exploration
In its April 2025 investor presentation, Prosper Gold reaffirmed its vision of defining a district-scale porphyry system in British Columbia’s Stikine Terrane—an area known for major copper-gold deposits. The Cyprus Project lies about 60 kilometers north of American Eagle’s NAK Project and 100 kilometers from the historical Bell and Granisle mines.
The company’s recent exploration strategy has combined CA$1.1 million in technical studies, including a CA$450,000 ZTEM airborne survey and CA$110,000 IP survey, with initial drilling efforts totaling CA$550,000. The upcoming CA$400,000 drill campaign will focus on zones showing coinciding chargeability and resistivity highs.
Other promising targets, such as the Big Time zone, remain untested. Big Time features felsic porphyry dikes with strong phyllic alteration, quartz stockwork veining, and a coinciding copper-molybdenum soil anomaly. Additional copper-in-soil anomalies east of Northstar also present new drill opportunities.
Importantly, exploration at Cyprus is eligible for the British Columbia Central Mineral Exploration Tax Credit, offering a 30% provincial incentive and a 15% federal credit for flow-through investors—adding further value for stakeholders.
Ownership Snapshot and Market Position
As of the latest filings, Prosper Gold’s management and insiders control 19% of the company. CEO Peter Bernier owns 17.19%, while Director Jason Hynes holds 1.24%, per Refinitiv data. Institutional investors account for 26% of ownership, with the remainder held by retail investors.
The company has approximately 56.76 million shares outstanding, a market capitalization of CA$4.53 million, and trades within a 52-week range of CA$0.08 to CA$0.16.
