Prospector Metals discovers high-grade mineralization at Devon, Ontario
Prospector Metals Corp. [PPP-TSXV; PMCOF-OTCQB; 1ET0-FSE] reported prospecting results identifying significant Ni-Cu-PGE (nickel-copper-platinum group element) prospects at the 100%-owned Devon project in Northwestern Ontario.
Highlights: A total of 93 grab samples were collected from outcrop and angular boulders ranging from below detection up to 1.125% Cu (copper), 0.53% Ni (nickel), 3.54 g/t Pd-plus-Pt (palladium plus platinum), and 0.123% Co (cobalt).
At the Copper Hill occurrence, angular boulders returned assays of up to 1.125% Cu, 0.4% Ni, and 2.35 g/t Au (gold)-plus-Pd-plus-Pt, and 1.015% Cu, 0.298% Ni and 3.81 g/t Au-plus-Pd-plus-Pt. Over a dozen similarly mineralized angular blocks were noted within an area several hundred metres in extent, ranging from 15-cm cobbles up to several angular boulders greater than one metre in diameter.
Multiple occurrences along the Pigeon River dikes were identified in outcrop and returned assays of up to 0.73% Cu, 0.53% Ni, 0.114% Co, and 0.22 g/t Au-plus-Pd-plus-Pt, 0.64% Cu, 0.437% Ni and 0.267 g/t Au-plus-Pd-plus-Pt, and 0.47% Cu, 0.097% Ni and 0.404 g/t Au-plus-Pd-plus-Pt.
Highly encouraging results warrant a regional helicopter-borne VTEM (versatile time domain electromagnetic) survey that will help to isolate the sulphidic dikes at or near surface, and those obscured under cover.
Jo Price, PGeo, vice-president of exploration for Prospector, stated, “The first-pass sampling results at Devon offer excellent discovery opportunities exhibiting district-scale potential for Ni-Cu-PGE deposits within mafic and ultramafic dike systems that appear to be mineralized across the property.”
The Devon Project comprises 12,200 hectares acquired through staking, 50 km SW of Thunder Bay, Ontario, and is road accessible.:
Historical occurrences associated with the dikes and mafic-ultramafic intrusions include 0.4% Cu, 0.17% Ni over 12.19 metres in drill core collared near Crystal Lake and numerous grab samples anomalous in Cu, Ni, and PGEs (For example: 0.51% Cu and 0.24% Ni, 0.46% Cu and 0.3% Ni and 2.3% Cu, 1.2% Ni, 0.05% Co, and 0.62 ppm Pd).
Significant portions of the area remain underexplored despite its favourable setting and ease of access. Most of the historic work in the western portion oof the Devon Project area was focused on vein and breccia hosted silver mineralization.
2023 Field Program Summary: Geological field reconnaissance was conducted on the Devon Project in May 2023 to assess known historical Ni-Cu-PGE occurrences and prospect additional untested areas along the strike extents of some known well mineralized intrusions and gain broader knowledge of the internal characteristics of the various mafic intrusions and their potential temporal relationships.
The company is evaluating a follow up program comprising additional prospecting work, as well as a helicopter borne VTEM survey that will help to isolate the sulphidic dikes at or near surface and those obscured under cover.
Prospector Metals is a Discovery Group Company with a business model focused on district scale, early-stage exploration of gold and base metal prospects and create shareholder value through new discoveries.