Prospector Metals Corp Stock Price, News & Analysis

BeMetals (OTCQB:BMTLF) has entered into a non-binding Letter of Intent with Prospector Metals Corp. to acquire up to 100% interest in the Savant Gold Project in northwestern Ontario, Canada. The project spans 232 km² in a prolific gold-producing region near the Red Lake and Musselwhite mines.

The agreement terms include minimum annual exploration expenditures of C$500,000, with ownership terms contingent on resource estimates. If BeMetals identifies ≥1,000,000 ounces of gold (minimum 500,000 ounces indicated), they will gain 100% project ownership. Additionally, BeMetals has extended its US$5 million loan agreement with B2Gold Corp. to August 4, 2029, with an adjusted interest rate of 6.7% per annum.

Prospector Metals (OTCQB: PMCOF) has signed a non-binding Letter of Intent with BeMetals for an option agreement on the Savant Gold Project in northwestern Ontario. The 232 km² project is strategically located near major gold producers including Red Lake and Musselwhite mines.

Under the proposed 5-year option agreement, BeMetals can earn up to 100% interest in the property by committing to: 1) Initial C$500,000 exploration expenditure in the first year, 2) Minimum C$500,000 annual exploration spending for five years, and 3) Delivering an NI 43-101 compliant Technical Report with resource estimates. The ownership structure will be determined based on the resource size, with BeMetals gaining 100% ownership if ≥1,000,000 ounces of gold are identified.

The project features eight high-grade gold occurrences with historical surface samples up to 138.87 g/t Au, with geology similar to the Musselwhite Mine which produced 212,000 ounces of gold last year.

Prospector Metals Corp. (PMCOF) has launched its maiden drill program at the ML Project in Yukon. The fully funded program includes up to 5,000m of diamond drilling across 15-20 holes, targeting 6 key areas: Bueno, Skarn Ridge, Rubble Cirque, North Vein, Java, and Fishbowl. Initial drilling has begun at the previously undrilled Bueno Target, which recently yielded impressive rock samples of up to 156 g/t Au. The 10-week program, scheduled through August 2025, focuses on high-grade, structurally controlled gold mineralization in intrusive units and meta-sediments. At Bueno, drilling targets NE steeply dipping structures with quartz veining, brecciation, and arsenopyrite mineralization. The program follows the company's 2024 exploration findings and represents a significant step in developing their flagship project.

Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has granted 2,800,000 incentive stock options to its directors, officers, and consultants. The options are exercisable at C$0.25 per common share for a five-year period, subject to TSX Venture Exchange acceptance. The grant is in accordance with the Company's omnibus equity incentive plan.

Prospector Metals Corp has reported exceptional high-grade gold results from surface rock samples at its ML Project's Bueno Target in Yukon. The sampling program, conducted in May 2025, yielded impressive gold grades including 156 g/t, 119 g/t, 108 g/t, 51.7 g/t, and 23.6 g/t Au from the T1 & T6 trends. Additional significant results of 5.92 g/t and 6.39 g/t Au were obtained from the T4 trend. The company is preparing to launch a fully funded 5,000m maiden diamond drill program by the end of June 2025, targeting six areas including Bueno, Skarn Ridge, Rubble, Fishbowl, Java, and North Vein. The sampling program confirmed historic results and revealed that gold mineralization is controlled by NNE trending structural trends and feldspar porphyry dikes, with the highest grades associated with quartz veining and silicification.

Prospector Metals Corp (TSXV: PPP) (OTCQB: PMCOF) has applied to the TSX Venture Exchange to extend the expiration date of 1,785,711 common share purchase warrants. The warrants, currently set to expire on May 21, 2025, would be extended by 12 months to May 21, 2026. Each warrant allows holders to purchase one common share at an exercise price of CAD$0.30. The extension is pending TSXV approval, and warrant holders will only receive amended certificates upon request.

Prospector Metals Corp. (PMCOF) has received approval from the Yukon Government for their 2025 ML Project work plan, including permission for up to 5,000 meters of diamond drilling. The program, set to begin in June 2025, will focus on 5 target areas: Bueno, Skarn Ridge, Rubble-Cirque, North Vein, and Java.

Historical drilling at Skarn Ridge yielded significant results, including 89.3m of 1.38 g/t Au & 0.61% Cu and 75.9m of 2.86 g/t Au & 0.69% Cu. The North Vein target previously returned impressive results, including 18.43m of 7.67 g/t Au. New interpretations from the 2024 field campaign suggest gold mineralization is related to NNE trending, steeply dipping structural zones.

The program will include maiden drill testing on Bueno, Rubble-Cirque, and Java targets, along with additional prospecting, geologic mapping, and relogging of historic drill core.

Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has appointed Jodie Gibson, P.Geo. as Vice President Exploration, effective immediately. Gibson brings over 18 years of mineral exploration experience across North America, with significant expertise in Yukon gold exploration.

Gibson previously served as Project Manager at Underworld Resources Inc., where he discovered the Golden Saddle and Arc deposits that were sold to Kinross for $139 million in 2010. As VP Exploration at White Gold Corp, he oversaw $30+ million in exploration activities. He was named 2020 Yukon Prospector of the Year.

CEO Rob Carpenter highlighted their 15-year working relationship and Gibson's pivotal role in major Yukon gold discoveries. Gibson will lead Prospector's proposed 2025 drill program on the flagship ML project.

Jo Price has resigned as VP Exploration to pursue other opportunities but will remain as Technical Advisor. The company has also granted 560,000 incentive stock options to officers and consultants at $0.18 per share.

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.