Prospector Announces Discovery of "Vary" and "Russer" Gold Zones, ML Project. Assays from Vary Zone yield up to 74.96 g/t Au and Russer Zone up to 16.22 g/t Au. Select sample highlights include:
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
Prospector Announces Discovery of "Vary" and
"Russer" Gold Zones, ML Project. Assays from
Vary Zone yield up to 74.96 g/t Au and Russer Zone
up to 16.22 g/t Au.
Select sample highlights include:
• The newly identified Vary Zone yielded results which include 79.96 g/t Au and 3.05 g/t Au and
3.98% Cu from sheeted quartz veins hosted within porphyritic intrusive rocks.
• The newly i dentified Russer Zone results include 16.22 g/t Au and 16.14 g/t Au hosted in
quartz-tourmaline veins within porphyritic intrusive rocks.
• Java Area yielded 16.08 g/t Au and 11.55 g/t Au in quartz veins within calc-silicate replaced
quartz pebble conglomerate horizons
• Rubble Area assay results include 13.42 g/t Au, 1.06 g/t Au and 8.39% Cu, and 2.58% Cu in
quartz veins within gossanous and altered porphyritic intrusive rocks.
• Cirque Area assayed up to 10.4% Cu and 1.18 g/t Au in a talus boulder consisting of coarse
grained to massive pyrrhotite, arsenopyrite, pyrite, and tourmaline.
Vancouver, BC – September 16, 2024, Prospector Metals Corp. (“Prospector” or the “Company”)
(TSXV: PPP; OTCQB: PMCOF; Frankfurt: 1ET ) is pleased to report assay results from the 2024
exploration program at the ML Project located approximately 80 km from Dawson City, Yukon Territory.
During the 4 -week program, a total of 520 rock grab and chip samples were collected across the
property to establish the extent of the surface expression of known zones as well as sample new areas
with unknown mineral potential. All assays have now been received. The contents of this news release
are focused on Au targets, while highlights of Ag and associated base metal targets will be provided in
a subsequent news release.
Key Point Summary
• New surface discoveries at the Vary Zone and Russer Zone greatly expand the high-grade gold
footprint at ML.
• A robust east-west mineralized corridor is developing between the Rubble and Cirque Areas in
addition to the northeast-southwest trending structural corridor.
• LiDAR and World View 3 datasets have been received and will be analysed over the next
several weeks. Results will be released when available.
A map with new assay results and the broad structural corridor at the ML Project is located here.
"These new surface discoveries greatly expand the high-grade gold footprint at ML", stated Prospector
CEO Rob Carpenter. "Our team has successfully identified a major first order structural corridor that is
at least 15km long and 2km wide. Now that all our assays have been received, priority drill targeting
exercises for 2025 have begun".
2024 ML Field Program
The 2024 field program on the ML property encompassed:
• 520 rock grab and chip samples and initial geologic and structural mapping.
• high-resolution LiDAR:
• WorldView-3 remote sensing survey: Processing underway
• S amples from the three known intrusive centers have been submitted for whole rock analysis
and age dating.
The work was completed to assess multiple known historic prospects across the property, including
previously underexplored intrusion hosted targets, to gain an understanding of key structural and
lithologic controls on mineralization with a goal of defining future drill targets. Based on the work, the
Company noted a series of steeply dipping NNE trending and E -W trending structural corridors that
transect the property and appear to be a primary control on mineralization in all rock types.
All assays have been received and results range from below detection up to 79.96 g/t Au and to 10.4%
Cu. Two new areas of mineralization have been identified, in addition to adding new high-grade results
to existing areas.
Vary Zone – Newly Identified
A total of 68 samples were collected from the Vary Zone. Assay results range from trace to
79.96 g/t Au, and up to 3.98% Cu. Mineralization in the area occurs along the southern margin
of a porphyritic intrusive body and consists of intrusive hosted quartz -tourmaline veining with
arsenopyrite and chalcopyrite as well as calc-silicate altered limestone with disseminated to
fracture controlled arsenopyrite-chalcopyrite.
Russer Zone - Newly Identified
A total of 9 samples were collected from the Russer Zone. Assay results range from trace to
16.22 g/t Au and are associated with strongly anomalous As, Bi, and Te. Mineralization is
hosted within sheeted quartz +/ -tourmaline veins with coarse grained arsenopyrite
mineralization along the northern margin of a large porphyritic intrusive unit.
Java Area
A total of 102 samples were collected from the Java area. Assay results range from trace to
16.08 g/t Au, and up to 2.24% Cu with strongly anomalous As, Bi, Sb, and Te. The Java Trend
consists of multiple horizons of calcareous interbedded coarse sandstone and quartz pebble
conglomerates replaced by Fe- carbonate, limonite, tremolite, and pyroxene. Mineralization is
characterized by disseminated to massive arsenopyrite and lesser chalcopyrite and pyrrhotite
associated with late silicification and open space quartz veins. Tourmaline occurs within veins
and fractures. Porphyritic intrusive to gabbroic dykes and faults cross-cut the metasedimentary
rocks, with NNE-SSW and E-W orientations.
Rubble Area
A total of 58 samples were collected from the Rubble area. Assay results range from trace to
13.46 g/t Au and up to 3.3% Cu with strongly anomalous As, Bi, Sb, and Te. Mineralization on
the Rubble trend is hosted within porphyritic intrusive rocks and adjacent calc -silicate altered
limestone, at the intersection of WNW -ESE and NNE- SSW trending structural corri dors.
Multiple orientations of sheeted veins and fractures within the porphyritic intrusive rocks contain
tourmaline, arsenopyrite, chalcopyrite, and pyrite. Within the calc -silicate altered limestone,
axinite is commonly associated with the arsenopyrite, chalcopyrite, pyrite assemblage, instead
of tourmaline.
Cirque Area
Results for 48 samples from the Cirque area have been received to date. Assay results ranged
from trace to 23 g/t Au with 17 samples returning > 1g/t Au. The mineralization is hosted within
sheeted veins and fractures within a feldspar porphyritic syenite and is associated with strongly
anomalous As, Bi, Cu, Sb, and Te. Individual veins range in thickness from mm to 10cm and
are associated with disseminated to massive arsenopyrite, chalcopyrite, and pyrite with quartz
+/- tourmaline, tremolite, and chlorite. Mineralization appears to be most concentrated near the
margin of the intrusion, within a strong ESE - WNW structural corridor.
Bueno Area
Results for 21 samples from the Bueno area have been received to date. Assay results ranged
from trace to 34.64 g/t Au with two samples returning >10 g/t Au with strongly anomalous Ag
(up to 57.03 g/t Ag), As, Bi, Cu (up to 1.8%), Sb, and Te. The Bueno Trend consists of
hornfelsed to calc -silicate altered limestone and metasedimentary rock s cut by a series of
steeply dipping NNE trending high angle structures and feldspar porphyry dikes. Mineralization
is characterized vein and fracture controlled fine grai ned arsenopyrite, chalcopyrite and
pyrrhotite, as well as disseminated medium to coarse euhedral arsenopyrite.
Other Areas
Anomalous results were also returned from other areas of the ML property with highlights
including:
• Individual samples up to 5.98 g/t Au associated with quartz -arsenopyrite boulders and
massive to disseminated pyrrhotite in calc -silicate altered sedimentary units from the
Fishbowl Cirque area.
• Samples up to 10.38 g/t Au from strongly altered mafic dike with strongly anomalous
Ag, Bi, Pb, Sn, and Te
• Samples up to 4.61 g/t Au associated with intrusive hosted quartz -arsenopyrite-
chalcopyrite veins in the Anvil area.
Figure 1. 2024 assay results from grab and chip samples at the ML Project.
ML Project Overview
Historical exploration of the ML Project has outlined numerous areas of interest that are loosely defined
by a combination of geographic location, host lithology, mineralization type, geochemical signature
and/or geophysical response (Figure 1), including intrusion hosted gold (+copper) style, replacement-
skarn style, and high- grade vein targets. In addition, there are multiple relatively unexplored mineral
occurrences, many of which are high grade gold targets. A total of 117 diamond drill holes have been
drilled property wide, testing six property targets. From 2005 to 2008, Dynamite Resources drilled 114
of these holes, with 23 holes at the North Vein Zone (a gold enriched skarn- replacement target) and
71 holes at Skarn Ridge (a gold - copper skarn-replacement target).
The Property hosts numerous other targets of interest which have a variety of intriguing characteristics,
such as high- grade rock –soil samples, highly anomalous trench samples, unique geophysical
signatures, and large areas of alteration. Additionally, there remain large parts of the property that
have received little or no exploration and evaluation. Several of the lesser -known mineralized areas
are very attractive targets as they have undergone only cursory assessment by previous operators.
The property has an impressive technical data base which includes property wide airborne geophysics,
satellite imagery, extensive soil and rock sampling, prospecting, selective ground geophysics, and
diamond drilling (+16,700m over 117 holes). Most of this exploration took place from 2004 to 2008, a
period when most drilling was focussed on two specific skarn/replacement type targets: Skarn Ridge
(71 drillholes) and North Vein (23 drillholes).
Assay Methodology & QA/QC
The analytical work on the M L project was performed by MSALABS , an internationally recognized
analytical services provider, located in Langley, British Columbia. All rock samples were prepared
using procedure PRP-910 (Dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better
than 85% passing 75 microns) and analyzed by method FAS-221 (50g fire assay with AAS finish) and
IMS-230 (0.25g, 4-acid digest and ICP-MS analysis). Samples containing >100 ppm Ag and/or >1%
Cu, Pb, & Zn were reanalyzed using method ICF- 6 (0.2g, 4 -acid digest and ore grade IC P-AES
analysis).
The reported work was completed using industry standard procedures, including a quality
assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks
and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no
QA/QC issues.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson,
P.Geo. Advisor to Prospector, and a Qualified Person as defined under National Instrument NI 43-101
(“NI 43-101”).
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of the Discovery Group. The Company is focused on
district scale, early -stage exploration of gold and base metal prospects. Creating shareholder value
through new discoveries, the Company identifies underexplored or overlooked mineral districts
displaying important structural and mineralogical occurrences similar to more established mining
operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada – Tier-1 mining
jurisdictions with an abundance of overlooked geological regions possessing high mineral potential.
Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks
to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at
prospectormetalscorp.com or email [email protected].
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit:
discoverygroup.ca
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can be no assurances that such statements will prove to be accurate and actual results and future events could
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Factors that could cause future results to differ materially from those anticipated in these forward- looking
statements include the risk of accidents and other risks associated with mineral exploration operations, the risk
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