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Prospector Metals Corp., a member of Discovery Group, focuses on district-scale, early-stage exploration of gold and base metal prospects. The company aims to create shareholder value through new discoveries by identifying underexplored mineral districts with similarities to established mining operations. Led by an experienced technical and corporate team, Prospector maintains relationships with local and Indigenous rightsholders while seeking mutually beneficial partnerships. Recent achievements include terminating the Toogood Option Agreement and progressing on the Mike Lake Property acquisition.
Prospector Metals has completed a VTEMTM geophysical survey and 2-week prospecting program at its Devon Nickel-Copper Project in Northwest Ontario. The survey identified 44 high-priority Ni-Cu targets as late-time conductors within or near Pigeon River ultramafic dykes. Field sampling yielded up to 0.46% Cu and 0.172% Ni from previously unrecognized targets. The 12,200-hectare project, located 50km SW of Thunder Bay, is road accessible and hosts numerous mafic-ultramafic intrusions. Previous 2023 sampling returned up to 1.125% Cu, 0.53% Ni, and 3.54 g/t Pd+Pt. Detailed 3D modeling is underway to refine drill targets.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) reports significant assay results from its 2024 exploration program at the ML Project in Yukon Territory. Key findings include:
1. Extended high-grade Ag-Pb-Zn footprint at the Lorrie Lake area, with samples yielding up to 2,049 g/t Ag, 34.26% Pb, and 5.08% Zn.
2. The known Ag-Pb-Zn mineralized area potentially extends up to 1 km.
3. 18 grab samples assaying above 100 g/t Ag were found across numerous areas.
4. New surface discoveries in various zones, including Vary Zone (up to 79.96 g/t Au) and Russer Zone (up to 16.22 g/t Au).
The exploration program included 520 rock grab and chip samples, geologic and structural mapping, and high-resolution LiDAR surveys. The results suggest a large mineralized system at ML, with potential for both intrusion-hosted and structurally-controlled mineralization.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has been awarded a $200,000 grant from the Ontario Junior Exploration Program (OJEP) for its Devon Ni-Cu Project in NW Ontario. The grant covers 50% of eligible exploration expenditures. Prospector has already incurred $250,000 in eligible expenditures for a property-wide VTEM geophysical survey and plans to spend an additional $150,000 on prospecting and ground truthing of geophysical anomalies.
The Devon Project, covering 12,200 hectares, is located 50km SW of Thunder Bay and is road accessible. Recent field work has yielded samples with up to 1.125% Cu, 0.53% Ni, and 3.54 g/t Pd+Pt. The project targets deposits analogous to Eagle & Eagle East (MI, USA), Tamarack (MN, USA), and Voisey's Bay Reed Brook Zone (NL). A 2-week field program to test geophysical targets has commenced, with results to be announced when available.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has entered an option agreement with 1484428 B.C. for its Toogood Project in Newfoundland. The agreement allows 1484428 B.C. to earn 100% interest in the project by making cash payments of C$25,000, issuing shares worth $900,000, and incurring C$6,000,000 in exploration expenditures within 60 months. 1484428 B.C. will also assume responsibility for underlying vendor agreements, including royalties and milestone payments.
Additionally, Prospector has amended the Virgin Arm agreement, reducing the project area and modifying share issuance and royalty terms. The amendment includes issuing 900,000 common shares at C$0.11 per share and additional shares worth C$60,000 within 12 months. A C$150,000 cash payment replaces annual prepayments on a 3% net smelter royalty, triggered by a NI 43-101 report showing over 500,000 ounces Au in resources.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) reported new discoveries at the ML Project in Yukon Territory. Notable findings include high-grade gold zones at Vary and Russer, with samples yielding up to 79.96 g/t Au and 16.22 g/t Au, respectively. The 2024 exploration program included 520 rock grab and chip samples which highlighted significant gold and copper concentrations across various zones:
- Vary Zone: Up to 79.96 g/t Au, 3.98% Cu.
- Russer Zone: Up to 16.22 g/t Au.
- Java Area: Up to 16.08 g/t Au, 2.24% Cu.
- Rubble Area: Up to 13.46 g/t Au, 3.3% Cu.
- Cirque Area: Up to 23 g/t Au, 10.4% Cu.
- Bueno Area: Up to 34.64 g/t Au, 57.03 g/t Ag, 1.8% Cu.
The program identified a major structural corridor, prompting priority drill targeting for 2025.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has reported high-grade gold, silver, and copper results from initial assays at its ML Project in Yukon Territory. Key findings include:
1. A newly identified mineralized corridor extending over 15 km.
2. High-grade samples including 34.64 g/t Au, 420 g/t Ag, and 3.3% Cu.
3. Four main target areas: Cirque, Bueno, Rubble, and Java.
4. Structural controls on mineralization identified.
5. Additional 387 sample results pending.
The company plans to use these results to prioritize drill targets for 2025. The ML Project shows potential for intrusion-hosted gold, skarn-replacement, and high-grade vein targets.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has commenced its 2024 exploration program at the ML Project in Yukon Territory. The project, located 80 km from Dawson City, hosts a Tombstone-style intrusion with numerous high-grade gold, silver, and copper occurrences. The fully funded 4-week field program includes:
- Rock/soil sampling and geological mapping
- Airborne LiDAR survey
- High-resolution World View 3 remote sensing survey
- Detailed drill core review
With a budget of approximately $650,000, the program aims to develop a robust pipeline of drill targets for 2025. The ML Project has an extensive technical database and numerous unexplored high-grade gold targets, including the Java zone where samples reportedly assayed up to 14.8 g/t gold.
On June 14, 2024, Prospector Metals announced the granting of 3,100,000 stock options to its officers, directors, and consultants. These options are exercisable for five years at a price of C$0.20 per common share. This issuance is subject to approval by the TSX Venture Exchange and aligns with the company's omnibus equity incentive plan.
Prospector Metals Corp. (TSXV: PPP, OTCQB: PMCOF, FSE: 1ET) has appointed Monty Sutton as its new Chief Financial Officer (CFO). Monty brings over 35 years of experience in public markets, corporate governance, senior administration, and accounting. He has previously served on the management teams and boards of several private and publicly traded companies. Monty's career began on the trade floor of the Vancouver Stock Exchange in 1987 and has included roles such as Senior Management Accountant for MacMillan Bloedel, Investment Advisor, Insurance Specialist, Corporate Development Manager, and most recently, CFO. The company thanked outgoing CFO Alex Heath for his services and wished him success in his future endeavors.
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