Prospector Drills High-Grade Gold Discovery at Toogood, Newfoundland: Quinlan Zone Results Includes 23.90 g/t Au over 3.65 m, 18.27 g/t Au over 4.25 m, and 22.76 g/t Au over 1.1 m
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
Prospector Drills High-Grade Gold Discovery at
Toogood, Newfoundland:
Quinlan Zone Results Includes 23.90 g/t Au over 3.65 m, 18.27 g/t Au over 4.25 m,
and 22.76 g/t Au over 1.1 m
Vancouver, BC – Aug 22, 2022, Prospector Metals Corp. (“Prospector” or the “Company”) (TSXV:
PPP; OTCQB: ETHOF; Frankfurt: 1ET ) is pleased to announce diamond drill results from the
Company’s Toogood property which encompasses 118km 2 of mineral claims on New World Island,
Newfoundland. The 2022 maiden drill program consisted of 26 HQ -size (63.5mm core diameter)
diamond drillholes totaling 2, 064.5 m to test the Quinlan (19 d rillholes totalling 857.5 m), Titan (6
drillholes totalling 1,056 m) discoveries, and the Sherwood target (one drillhole; 151 m).
Quinlan Zone Drill Highlights
• At the Quinlan Zone, drilling targeted a gold bearing felsic dyke located by surface sampling
(see press release dated March 1 , 2022). 19 HQ -size drillholes totaling 857.5 m identified a
1.5-4.5 m wide altered felsic dyke hosted in shale striking 020 and dipping at approximately 45
degrees to the southeast. Drilling extends the known surface expression of the dyke to 200 m
in strike length and 120 m downdip. Mineralization remains open in all directions. Visible gold
in core was identified in 15 of the 19 drillholes (Table 1).
• Drill assay results include 23.90 g/t Au over 3.65 m from 4.75m including 43.22 g/t Au over
1.95 m (22QL008), 18.27 g/t Au over 4.25 m from 41.25m including 70.31 g/t Au over 1.05 m
(22QL017), and 9.40 g/t Au over 3.18 m from 9.4m including 22.76 g/t Au over 1.1 m
22QL010). See Figures 1-4 and Table 1.
Key Point Summary
• The Quinlan Zone dyke width over the 200 m of strike and 120 m down dip drilled to date varies
from 1.5 m to 4.5 m in estimated true width and is open in all directions. The zone is hosted in
a visually distinct felsic dyke which is typically fractured and heavily sericite altered. Gold
appears associated with quartz carbonate veinlets within the felsic dyke, commonly with
arsenopyrite and pyrite.
• Exploration potential at Toogood remains high as numerous outcrops of felsic dyke that visually
resemble the Quinlan host rock have recently been uncovered across the Toogood property.
Additional areas of anomalous rock and soil results also remain untested.
• A total of six HQ drillholes totall ing 1,056 m were also drilled at the Titan prospect and key
results include 2.26 g/t Au over 4.55 m from 101.25 m including 6.77 g/t Au over 1.30 m
(22TN001), and 5.89 g/t Au over 0.45 m from 163.3 m (22TN003). Gold is hosted in complex
quartz-ankerite vein sets within altered shale and greywacke, likely emplaced along west -
northwest trending structures and visible gold was noted in 22TN003 . Additional analysis of
the structural components is ongoing to better isolate the gold bearing structures identified on
surface where grab samples graded 291.47, 168.46, 181.97, 30.75, 29.85, 11.11 g/t Au and
channel samples returned assays of 37.14 g/t Au over 0.8 m, 7.0 g/t Au over 0.6m, 5.89 g/t Au
over 3.2 m, 4.33 g/t Au over 0.5 m, 5.03 g/t Au over 0.5 m and 7.25 g/t Au over 0.5 m (see press
release dated March 1, 2022).
• One hole totaling 151 m was also drilled at the Sherwood prospect to test a large arsenic soil
anomaly at surface located along the Virgin Arm Fault (Figure 1) . The hole collared in shale
and successfully encountered significant fault gouge textures and brecciation with variable
amounts of felsic dyke/volcanics, greywacke fragment, quartz ± carbonate veining with trace
amounts of pyrite and arsenopyrite. Significant assay results include 0.70 g/t Au over 2.4 m
from 18 m including 0.89 g/t Au over 1.4 m (22SH026; Table 1). These initial results confirm
the presence of gold within the Virgin Arm Fault system which can be traced for nearly 5 km
across the Toogood Property and represents a promising target for future exploration.
• Given the coarse nature of the gold at the Toogood project, all samples with coarse gold were
submitted for metallic screen assays with the remainder submitted for 30g fire assay with AA
finish. Metallic screen assaying process involves the use of the entire sample of material which
is separated into fine and coarse splits. The final gold assay reported is a weighted average of
the coarse and fine fractions. Gold assays using this method are typically more representative
of the total gold endowment than conventional assays due to use of a larger sample size,
assaying of more sample splits, and better representation of the coarse gold fraction as a
proportion of the whole sample.
• The variation of assay values and the coarse nature of the gold distribution at Quinlan as
evidenced by the multiple occurrences of visible gold in the core, gold distribution appears
variable. As such, the remaining ½ core witness samples for holes 22QL007-12 were submitted
for metallic screen assay and the resulting two half core assays were averaged (Table 1 and 3)
thereby increasing the volume of sample material tested to capture the most representative
assay. The remaining witness sample assays for 22QL13- 25 r emain pending and will be
reported when available.
Jo Price, P .Geo., M.Sc., MBA, VP Exploration of Prospector stated: “ The maiden drill program at
Quinlan, Titan and Sherwood successfully intersected gold bearing altered and mineralized felsic
dykes and quartz veins; an encouraging positive step forward for a project that has seen little
systematic exploration in the past. The depth and strike extent of the mineralized felsic dyke at the
Quinlan Zone shows remarkable continuity. We are eager to resume drilling to expand this exciting
new discovery. Moreover, numerous outcrops of similar felsic dyke proximal to Quinlan have been
identified that remain undrilled, and we are actively evaluating these new targets.”
Figure 1. Drillhole location map showing Quinlan, Titan and Sherwood Zones.
Table 1. Summary of composite drill assay results
Hole ID Prospect VG
Present From (m) To (m) Grade
(g/t) Width (m) Gram
Metres
Averaged
2 ½ Core
Samples
22TN001 Titan
36.45 38.3 0.58 1.85 1.07
59.3 62.35 1.29 3.05 3.93
101.25 105.8 2.26 4.55 10.29
Inc 104 105.3 6.77 1.30 8.80
22TN002 Titan No Significant Intervals
22TN003 Titan X 163.3 163.75 5.89 0.45 2.65
22TN004 Titan No Significant Intervals
22TN005 Titan No Significant Intervals
22TN006 Titan No Significant Intervals
22QL007 Quinlan X
3.80 7.00 4.08 3.20 13.06 *
Inc 3.80 4.90 10.18 1.10 11.19 *
Inc 4.90 6.00 0.53 1.10 0.58 *
Inc 6.00 7.00 1.28 1.00 1.28 *
22QL008 Quinlan X 4.75 8.4 23.90 3.65 87.22 *
Inc 4.75 6.7 43.22 1.95 84.27 *
22QL009 Quinlan 3.60 5.70 0.30 2.10 0.64 *
22QL010 Quinlan
9.4 13.9 8.18 4.50 36.81
X 9.4 12.58 9.40 3.18 29.89 *
9.4 10.5 22.76 1.10 25.03 *
22QL011 Quinlan X 13.95 19.85 0.87 5.90 5.13
Inc 13.95 18.95 0.93 5.00 4.65 *
22QL012 Quinlan X 20.95 23.70 1.17 2.75 3.22
22QL013 Quinlan 38.00 39.55 2.73 1.55 4.23
22QL014 Quinlan 16.05 18.60 8.16 2.55 20.81
Inc 17.75 18.60 22.68 0.85 19.28
22QL015 Quinlan X 24.20 28.20 1.78 4.00 7.12
Inc 24.20 25.20 5.04 1.00 5.04
22QL016 Quinlan X 27.29 28.32 2.93 1.03 3.02
22QL017 Quinlan X 41.25 45.50 18.27 4.25 77.65
Inc 41.75 42.80 70.31 1.05 73.83
22QL018 Quinlan X 61.28 63.40 6.53 2.12 13.84
Inc 61.28 62.09 13.44 0.81 10.89
22QL019 Quinlan 11.73 14.70 3.55 2.97 10.54
Inc 12.74 14.16 5.57 1.42 7.91
22QL020 Quinlan X 14.35 17.90 1.20 3.35 4.02
22QL021 Quinlan X 76.10 77.15 0.51 1.05 0.54
22QL022 Quinlan X 39.50 42.60 2.35 3.10 7.29
22QL023 Quinlan X 17.35 19.43 0.79 1.58 1.25
22QL024 Quinlan X 24.00 25.23 0.59 1.23 0.73
22QL025 Quinlan No Significant Intervals
22SH026 Sherwood
18.00 20.40 0.70 2.40 1.68
19.00 20.40 0.89 1.40 1.25
* True widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to be
70% to 90% of reported core lengths.
Figure 2. Plan map of Quinlan Drill Program
Figure 3. Examples of coarse gold in core and the felsic dyke at Quinlan
22QL018
22QL017
22QL008
Figure 4. Quinlan Dyke Cross Sections A-A’ and B-B’
Table 2. Drill hole details
All Coordinates are NAD83 Zone 21
Hole ID Prospect Easting Northing Azimuth Dip
22TN001 Titan 662024.56 5487644.75 209.6 -45
22TN002 Titan 662025.02 5487645.79 209.6 -70
22TN003 Titan 662012.63 5487649.90 209.6 -50
22TN004 Titan 662012.95 5487650.56 209.6 -70
22TN005 Titan 661988.28 5487657.75 209.4 -50
22TN006 Titan 661921.09 5487554.71 29.6 -55
22QL007 Quinlan 661634.69 5487537.34 290.3 -45
22QL008 Quinlan 661636.11 5487536.78 290.3 -80
22QL009 Quinlan 661629.24 5487533.82 230.4 -45
22QL010 Quinlan 661650.43 5487550.07 290.5 -45
22QL011 Quinlan 661651.87 5487549.58 290.5 -90
22QL012 Quinlan 661664.21 5487526.53 289.8 -45
22QL013 Quinlan 661665.92 5487525.81 289.8 -90
22QL014 Quinlan 661662.13 5487564.35 290.4 -45
22QL015 Quinlan 661663.55 5487563.81 290.4 -90
22QL016 Quinlan 661673.77 5487543.57 289.8 -60
22QL017 Quinlan 661674.58 5487543.23 289.9 -90
22QL018 Quinlan 661697.25 5487533.51 291.2 -80
22QL019 Quinlan 661610.11 5487473.90 289.2 -45
22QL020 Quinlan 661611.49 5487473.46 289.8 -90
22QL021 Quinlan 661724.57 5487522.56 290.5 -80
22QL022 Quinlan 661650.12 5487458.10 292.4 -45
22QL023 Quinlan 661692.15 5487649.33 290.1 -45
22QL024 Quinlan 661693.71 5487648.75 290.1 -90
22QL025 Quinlan 661744.78 5487635.45 290.2 -45
22SH026 Sherwood 660714.17 5487624.86 308.8 -45