Prospector Metals (TSXV: PPP; OTCQB: PMCOF) has been awarded a $200,000 provincial grant for exploration at its Devon nickel-copper project 50 km southwest of Thunder Bay, Ont. The 100%-owned property has the potential to be an important pipeline project for the company.
The funds were approved by the Ontario Junior Exploration Program to boost exploration in the critical minerals sector. It is intended to cover 50% of eligible exploration expenditures.
Prospector Metals has incurred about $250,000 for a property-wide VTEM geophysical survey. A further expenditure of $150,000 is planned for prospecting and ground truthing the identified geophysical anomalies.
The Devon project comprises 12,200 ha acquired through staking. It is intruded by numerous mafic-ultramafic intrusives, mostly dyke-form intrusions, which can contain disseminated to locally massive magmatic nickel-copper sulphides with platinum group metals. Significant portions of the area remain underexplored despite its favourable setting and ease of access, says Prospector. Most of the historic work in the west was focussed on vein and breccia hosted silver mineralization.
Recent fieldwork completed by the company returned samples with up to 1.125% copper, 0.53% nickel, and 3.54 g/t palladium+platinum, and 0.123% cobalt.
Prospector’s flagship project is the ML copper-gold property in the Tintina gold belt, 80 km from Dawson City, Yukon. The property has a historical geological database that includes rock and soil sampling, airborne geophysics, and drilling. Previous work included 16,700 metres of drill holes that returned 3.53 g/t gold and 0.29% copper over 56.4 metres.
Visit www.ProspectorMetalsCorp.com to learn more.
December 19, 2024
December 19, 2024
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