Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF) said it has acquired a 100% interest in the Leopard Lake Property, comprising 7,383 hectares on the boundary of the Wabigoon and Quetico sub-provinces in Ontario.
The property, located 180 kilometres (km) northeast of Thunder Bay and approximately 20 km east of the past-producing Northern Empire Mine, is on the largely unexplored crustal-scale break between the Wabigoon and Quetico sub-provinces where there had been historic gold production of over 4 million ounces from a combination of quartz-carbonate vein systems/shears and sulphide replaced iron formation, Prospector said.
"The Leopard Lake Property offers a rare district-scale opportunity in the largely unexplored portion of Ontario, with a crustal-scale break that has hosted numerous robust gold deposits elsewhere. This opportunity is a great example of the PPP strategy to acquire district-scale exploration projects which have been traditionally overlooked by previous folks due to technology, prevailing dogma or access," Rob Carpenter, co-chairman of Prospector said in a statement.
READ: Prospector Metals is focused on district scale, early-stage exploration of gold and base metal prospects
The property has excellent access through the main provincial highway which is 2 km north of the claim block and extensive network of roads and trails crisscross the property while recent logging activities have created new access to the claim block allowing low-cost initial prospecting to be completed in 2022, the company said.
No previous gold exploration is recorded in this package of rocks despite close proximity to major structural zones, the company noted, adding that exploration in the nearby Beardmore Gold Camp has focused entirely on the metavolcanic belts and has overlooked the adjacent metasedimentary rocks.
“Following a digital complication and audit of the available historical data for the project, an initial prospecting program will have a strong emphasis on structurally controlled alteration zones. Localized ground physics of select targets would likely follow should targets warrant,” Prospector said.
The company acquired the Leopard Lake property from John Robins, James Paterson, Daniel MacNeil, Alan Wainwright, Jeff Sundar, Ronnie Therriault, Jodie Gibson, and Grant Lockhart for 1,250,000 shares of Prospector.
Contact the author at jon.hopkins@proactiveinvestors.com