Prospector Initial Drill Results Include 45.65m of 2.11 g/t Au, .48% Cu; New "Skarn Ridge-Bueno" Mineralized Corridor Extends Along Trend 1.5 kilometres
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
Prospector Initial Drill Results Include 45.65m of 2.11 g/t Au,
.48% Cu; New "Skarn Ridge-Bueno" Mineralized Corridor
Extends Along Trend 1.5 kilometres
Vancouver, BC September 2, 2025 Prospector Metals Corp. (“Prospector” or the “Company”)
(TSXV: PPP; OTCQB: PMCOF; Frankfurt: 1ET0) today announced initial drill results for the 2025 diamond
drill program on the ML Property. This release will discuss key results from the first two holes drilled at
the Skarn Ridge target and the first 6 holes drilled at the Bueno target. Additionally, Prospector has
discovered a new zone in the North Vein area characterized by the presence of numerous fine specks of
visible gold (assays pending). This is the first documented occurrence of visible gold on the ML project.
Rob Carpenter, Ph.D., PGeo., President, CEO and Co-Chairman of Prospector, stated “Our geologists
have successfully cracked the code at Skarn Ridge by fully appreciating the importance of north-south
trending structural corridors. Drilling in a new orientation has resulted in recognition of several
favorable trends that extend for more than 1.5 kilometres along strike. Initial assays confirm these
corridors contain gold mineralization over significant widths. We are expecting additional assay results
to be released in the coming weeks, including our new drill discovery with visible gold from the North
Vein area."
Key Point Summary
• Key results from the first two holes at Skarn Ridge include
• Hole ML25-10: 2.11 g/t Au, 0.48% Cu, 8.56 g/t Ag over 45.65m (from 44m downhole),
and
• Hole ML25-11: 0.70 g/t Au, 0.52% Cu, 9.48 g/t Ag over 23.0m (from 31m downhole) as
well as a second zone yielding 1.06 g/t Au, 0.68% Cu, 11.82 g/t Ag over 11m (from 96m
downhole).
• Drilling along the southern extent of the Skarn Ridge-Bueno Trend (T4 area) successfully
discovered a significant structurally controlled gold zone. The first hole, ML25-05 collared
directly in mineralization and yielded 3.1 g/t Au over 6.9m (from start of bedrock). Follow up
holes were drilled further back to get a full transect of this mineralized zone and intercepted
wider mineralization along trend.
• A new gold zone has been discovered near the North Vein area. Drill hole ML25-31 encountered
numerous fine specks of visible gold (VG) at approximately 105m downhole (Assays Pending).
• High gold values are directly associated with elevated bismuth (Bi) and tellurium (Te) and
bismuth sulphide minerals are commonly observed in drill core. Copper also appears to also be
an important component to the mineralizing system at ML.
Skarn Ridge
A total of 2,976.84m over 18 drill holes were completed on the Skarn Ridge target. To date, results have
been received for two holes, ML25-010 and -011. Both holes were drilled from the same drill platform at
a 300 azimuth and - 45 and - 55 dips, respectively , and were designed to test previously unrecognized
north-northeast trending structural controls associated with historically report ed gold-copper
mineralization on the target.
ML25-010 returned 45.65m of 2.11 g/t Au, 0.48% Cu & 8.56 g/t Ag from 44 meters depth; including 10m
of 4.37 g/t Au, 0.26% Cu & 6.14 g/t Ag from 51m depth; 1m of 18.5 g/t Au and 3.89 g/t Ag from 52m depth;
and 17m of 2.64 g/t Au, 0.88% Cu & 15 g/t Ag from 71m depth.
ML25-011 returned two significant intercepts within a broader zone of alteration and sulfide
mineralization. The upper zone returned 23m of 0.70 g/t Au , 0.52% Cu & 9.48 g/t Ag from 31m depth;
including 4m of 1.85 g/t Au, 0.88% Cu and 17.75 g/t Ag from 40m depth. The lower zone returned 11m of
1.06 g/t Au , 0.68% Cu and 11.82 g/t Ag from 91m. The lower zone partially overlaps with a zone of
significant copper mineralization which returned 13.9m of 0.94% Cu from 91m depth.
Mineralization in both holes occurs within a broad zone (up to 84m) of strongly calc -silicate altered
calcareous siltstones and marls with disseminated and vein controlled pyrrhotite, chalcopyrite, and
arsenopyrite. The most significant gold mineralization corresponds to cross-cutting structural zones
associated with increased fracturing /veining and brecciation , multiple generations of arsenopyrite
mineralization, and, locally, coarse Bi-Te minerals.
Figure 1: Plan map of 2025 drilling on Skarn Ridge
Figure 2: Cross-section of ML25-010 & 011 Looking NE
Figure 3: ML25-010 from 42.24 – 56.07m with gold and copper assays. Red arrows mark the beginning
of the sampled interval.
Table 1: Skarn Ridge Assay Summary
Hole ID From (m) To (m) Interval (m) Au (g/t) Cu (%) Ag (g/t)
ML25-010 44.00 89.65 45.65 2.11 0.48 8.56
Incl 51.00 61.00 10.00 4.37 0.26 6.14
Incl 71.00 88.00 17.00 2.64 0.88 15
ML25-011 31.00 54.00 23.00 0.70 0.52 9.48
Incl. 40.00 44.00 4.00 1.85 0.88 17.75
And 91.00 102.00 11.00 1.06 0.68 11.82
And 84.00 97.90 13.90 0.94 15.74
Bueno
A total of 2,322.27m over 13 drill holes were completed on the Bueno target. To date results have been
received for six holes, ML25-001 to -006. Gold mineralization was intercepted within all holes received to
date and correspond to a series of NNE trending structural zones cutting calc -silicate to hornfels altered
shale, sandstone, siltstone, and mafic sills /dikes with disseminated to vein controlled pyrrhotite, pyrite,
chalcopyrite, arsenopyrite, and, locally, Bi-Te mineralization
The most significant mineralization was from hole ML25-005, located in the T4 area at the southern end
of the Bueno target. The hole was drilled at an azimuth of 300 and dip of - 50 and was targeting gold-
copper mineralization reported within a historic trench. The hole collared in mineralization returning 6.9m
of 3.07 g/t Au from 6.1m depth. Additional significant intercepts from the Bueno T4 area include 0.81m
of 26.15 g/t Au from 60.30m depth in hole ML25-006.
Figure 4: Plan map of 2025 drilling on Bueno
Table 2: Bueno Assay Summary
Hole ID From (m) To (m) Interval (m) Au g/t Cu %
ML25-001 12.00 13.00 1.00 1.66 -
And 25.50 27.00 1.50 0.95 -
And 115.00 116.00 1.00 5.53 -
And 179.00 181.00 2.00 0.81 -
ML25-002 42.00 61.00 19.00 - 0.24
Incl. 58.00 61.00 3.00 - 0.56
ML25-003 193.00 194.00 1.00 1.90 -
ML25-004 89.00 90.70 1.70 - 1.47
And 100.00 101.00 1.00 2.42 0.17
And 111.00 115.00 4.00 - 0.22
ML25-005 6.10 13.00 6.90 3.07 -
Incl 8.00 9.50 1.50 8.22 -
And 39.48 40.56 1.08 3.41 -
ML25-006 3.00 5.00 2.00 1.19 -
And 19.91 21.00 1.09 0.13 1.24
And 60.30 61.11 0.81 26.15 -
Skarn Ridge – Bueno Trend Discussion
The assays received to date and visual observations from pending holes confirm that gold mineralization
from Skarn Ridge to Bueno is hosted within a series of north-northeast trending, steeply dipping,
structural zones and associated splays. These zones have now been traced over 1.5km along strike and
have over 600m of vertical continuity. Previous interpretations of the targets had not accounted for these
north-northeast trends, and consequently , historical drilling did not adequately test the structural
controls on mineralization.
Within the structural corridors, gold mineralization is noted in every rock type on the Skarn Ridge-Bueno
Trend and is best developed within strongly fractured /brecciated calc-silicate altered and/or iron rich
units, and along lithologic contacts. The gold mineralization is, locally, coincident with significant copper
mineralization, however, the gold and copper mineralizing events appear to be independent of each
other. Gold is focused within structural corridors and is strongly associated with bismuth and tellurium
mineralization, whereas copper is more broadly distributed and only occurs within strongly calc -silicate
altered units.
North Vein
Drilling on the North Vein target intercepted a new zone of alteration and mineralization with multiple
instances of visible gold (VG) from approximately 104 – 105m depth in hole ML25 -031. This is the first
occurrence of VG ever noted on the ML Property. T he gold mineralization is associated with abundant
coarse-grained Bi- Te minerals at the base of an up to 50m zone of strong sulfide mineralization with
disseminated to massive arsenopyrite-chalcopyrite-pyrite-pyrrhotite within calc-silicate to vuggy, silicified
and clay altered rocks. The new zone occurs north of historic North Vein occurrence and would not have
been tested by historic drilling. The historic North Vein occurrence was also intercepted from
approximately 138 – 146m depth in ML25 -031 and consisted o f disseminated to semi -massive
arsenopyrite-chalcopyrite mineralization within a silicified to calc -silicate altered quartz grit unit. Two
holes were drilled on the target and assays are pending.
Figure 5: Visible gold and associated minerals from 104 – 105m in ML25-031