Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF) has provided a glimpse into an extensive exploration program at its Schefferville gold project in Quebec, which it calls a “district scale opportunity".
The Vancouver-based company is aiming to follow up on historical gold occurrences that have graded between one gram per ton (g/t) gold up to 171.5 g/t gold.
Schefferville is a 36,808-hectare property that covers wide areas of the Lilois Complex, a 2.7-billion-year-old rock unit characterized by the presence of numerous iron formations, many of which locally host gold mineralization.
WATCH: Prospector Metals Corp planning three separate drill programs
Prospector is planning a two-phased work program throughout the year, it told shareholders.
The first phase will include a detailed helicopter aeromagnetic survey over the central portion of the Sable claim block, covering the key target areas, followed by detailed mapping, stripping, and sampling with the goal of vetting and prioritizing selected targets for potential Phase 2 drilling in the fall of 2022.
Prospector is hoping to define drill targets at a number of the more advanced targets in the central portion of the Sable claim block, as well as to advance newly discovered areas of iron formations with anomalous gold encountered in other targets during the 2021 field programs through more detailed prospecting, stripping, mapping and sampling, including channel sampling.
The firm has budgeted $1 million for Phase 1 exploration.
Summer 2022 fieldwork is planned to begin in the first week of June and will continue through late July, the company told investors.
"The Schefferville gold project represents a district scale opportunity to make a significant discovery in an area that has seen little systematic exploration to date, and we are excited to move this project to the next stage of discovery,” Prospector’s co-chairman Rob Carpenter said in a statement.
Prospector, a Discovery Group Company, is focused on identifying underexplored or overlooked mineral districts which display important structural and mineralogical similarities with well-endowed mining camps.
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