Prospector Metals Corp has told investors that its latest exploration at the Savant project in Ontario, Canada has underscored the asset's district scale potential.
The explorer mobilized crews to the 229 square kilometre (km) project in May this year and a Phase 1 program saw 594 grab samples collected, for which all assays have now been received.
Notably, the work has defined a second, previously unrecognized, corridor called the Snowbird-Shoal Deformation Zone, which follows on from the firm's previously outlined Wiggle Deformation Zone (WDZ).
The Snowbird-Shoal Deformation Zone hosts numerous gold occurrences, including at Snowbird and Horseshoe, and latest sampling included assays such as 99.6 grams per ton (g/t) gold, 60 g/t and 13.25 g/t and increased the known strike length to 520 metres (m).
READ: Prospector Metals reports high-grade gold along newly identified Wiggle Deformation Zone at its Savant project in Ontario
"We continue to be encouraged by these early results at Savant with the recognition of two gold bearing structural corridors that appear to be important conduits for gold mineralization, said Dr Rob Carpenter, Prospector's co-chairman, in a statement. "The extent of these structural corridors highlight the district scale potential at Savant and we look forward to exploring further."
At WDZ, the zone is thought to extend for at least 10 km and the prospect represents a strike of 1.3 km of known gold-bearing structure which remains open in all directions.
Rock grab sampling there returned both 68.6 g/t and 26.5 g/t of gold.
Prospector acquired a 70% option on Savant from Capella Minerals Ltd and there is an estimated 60 km of prospective gold-bearing iron formation on the property.
High-grade gold mineralization at surface and in historical diamond drilling occurs over an area measuring 10 km by 10 km and the region that has seen little systematic exploration.
Prospector Metals is focused on districtscale, early-stage exploration of gold and base metal prospects and creating shareholder value through new discoveries.
Contact the writer at giles@proactiveinvestors.com