Prospector Metals Provides Exploration Update on Devon Ni-Cu Project in Ontario
Prospector Metals Corp. has shared an update on its exploration activities at the Devon Nickel-Copper (Ni-Cu) Project in Northwest Ontario. Following a property-wide airborne geophysical survey, the company conducted a two-week field program to ground-truth high-priority geophysical anomalies identified during the summer. The Devon Project, covering 12,200 hectares and located 50 kilometers southwest of Thunder Bay, is road accessible and cut by paved highways, making it an ideal site for year-round exploration.
“Our Devon Project is 100% owned and represents district-scale discovery opportunities,” said Rob Carpenter, CEO of Prospector Metals. “This Ontario project adds a new dimension to our exploration portfolio, providing year-round exploration opportunities and news flow to complement our flagship ML Project in Yukon.”
The primary focus of the fall 2024 program was to verify the results of a summer VTEM™ Plus survey that highlighted multiple high-priority targets. These targets, identified as conductive anomalies, are associated with ultramafic dykes in the Pigeon River formation, which is known for hosting nickel-copper sulfides and platinum group elements (PGEs).
Key Findings from the Devon Project
Prospector’s exploration program has revealed 44 high-priority Ni-Cu targets that manifest as late-time conductors, located within or adjacent to Pigeon River ultramafic dykes. These targets are distinct from the more common, flat-lying conductors associated with the Logan Sills, suggesting that they represent new zones of mineralization.
The two-week field program collected 76 rock samples to further investigate these anomalies, with assays revealing mineralized mafic and ultramafic rocks. Results showed copper concentrations as high as 0.46% Cu and nickel grades up to 0.172% Ni in previously unrecognized areas.
“The surface mineralization we’ve identified confirms the presence of nickel and copper within the right host rocks,” Carpenter added. “These findings, combined with the high-priority conductors identified through the VTEM survey, suggest the potential for high-grade mineralization at depth.”
In addition to these results, Prospector Metals is conducting 3D conductivity and magnetic susceptibility inversion modeling to refine drill targets. The company plans to advance these targets for future drilling campaigns.
About the Devon Ni-Cu Project
The Devon Project is located within the Mesoproterozoic Midcontinent Rift system, a region known for its rich magmatic and hydrothermal mineral deposits. While the area has been historically explored for vein and breccia-hosted silver, significant portions remain underexplored, particularly for nickel and copper.
Prospector’s 2023 fieldwork returned promising results, including samples with grades of up to 1.125% Cu, 0.53% Ni, and 3.54 g/t Pd+Pt. At the Copper Hill occurrence, angular boulders returned assays as high as 1.125% Cu, 0.4% Ni, and 2.35 g/t Au+Pd+Pt. These findings suggest a strong potential for high-grade Ni-Cu-PGE deposits similar to world-class deposits like Eagle in Michigan, Tamarack in Minnesota, and Voisey’s Bay in Newfoundland.
With ease of access and a promising geological setting, the Devon Project offers Prospector shareholders exposure to year-round exploration activities and the potential for significant discovery. The company’s continued focus on ground-truthing and geophysical analysis positions it well for future exploration success.
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