Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF) said it has acquired a 100% interest in three Ni-Cu (nickel-copper) projects in Quebec through staking as part of its broader Ni-Cu-PGE exploration strategy focusing on high-grade, conduit-hosted deposits hosted within under-explored large igneous provinces.
The company said its strategy centers on technical re-evaluation of publicly available geologic and geophysical data to define robust drill-ready targets that have been overlooked.
"The properties offer rare district-scale opportunities in largely unexplored portions of Quebec. These opportunities are a great example of the PPP strategy to acquire district-scale exploration projects which have been traditionally overlooked,” Jo Price, VP Exploration for Prospector, said in a statement.
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The three projects comprise the Lac Manitou Project, the Lac Nipisso Project and the Nemo Project
Lac Manitou Project
The Lac Manitou Property comprises 10,082 hectares acquired through staking, 85 kilometres (km) northeast (NE) of Sept Iles, Quebec. In a thorough review of the historical geophysical data amplitude, magnetic expression, shape and size, and taking into account the geologic setting, Prospector identified three highly prospective conductors as potential initial drill targets that have seen no modern exploration or drill testing to date.
Strong prospective conductors are coincident with low-angle faults and have a strike length of greater than 200 metres (m). Locally, historical grab samples are reported to have assayed 1.26% Ni, 1.54% Cu & 0.87% Ni, 0.08% Cu.
Lac Nipisso Project
The Lac Nipisso Property comprises 13,051 hectares acquired through staking, 80 km NE of Sept Iles, with Quebec Hydro Transmission lines crossing the western edge of the claim boundary. The project covers a series of elongate easterly to northeasterly trending conductors up to 6 km long identified on a 1997 Quebec Geologic Survey Dighem survey. A portion of these conductors were also surveyed by a publicly available 20210 helicopter-borne versatile time domain electromagnetic (EM) and aeromagnetic geophysical survey.
The anomalies are mostly strike-limited, showing an EM signature on and at the edges of magnetic highs, further indicating the potential for Ni-Cu (Co-PGE) mineralization.
The project is situated 6 km north of the Lac Volant occurrence, a small, massive magmatic sulfide body hosted trending coarse-grained gabbronorite dyke with average grades of 2.3% Cu, 1.9 % Ni and 0.1% Co discovered in 1996 by the Quebec Geologic Survey.
Nemo Project
The Nemo Property consists of 15,695 hectares acquired through staking, in the southern Labrador Trough, QC, located 80 km northeast of the Schefferville District Scale property situated on the largely poorly explored north-central portion of the Doublet Terrane, with abundant voluminous differentiated gabbro-peridotite sill-form intrusions.
Overlooked and very underexplored, the project has favorable mafic-ultramafic intrusions, and known historical Ni-Cu magmatic sulfide occurrences in the northern block, associated with historical frequency-domain EM anomalies, which have not been followed up with modern Time Domain geophysics, detailed magnetics or drilling.
A cluster of nine small bodies of magmatic sulphides, in aggregate approximately 4.8 million tonnes (Mt) at 0.87% Cu, 0.52% Ni and 0.84 grams per ton PGE, with individual deposits ranging from 0.03 Mt to 1.37 Mt, occur in the Blue Lake area in the southern portion of the Doublet Terrane (LaFosse Platinum Group, 1989), While this style of sill-margin net-textured to massive magmatic mineralization is not the ultimate target of Prospector's planned exploration, it is nonetheless an important indicator of process and prospectivity in the region.
Planned Work Programs
The company said initial helicopter-borne versatile time domain electromagnetic surveys may be flown, followed by prospecting programs to target and ground truth mineralization with an emphasis on potential structural controls.
Localized ground geophysics of selected targets would follow, if warranted, to define highly conductive buried targets in potential feeder systems.
Prospector also said that it has given notice to vendors 1026452 BC LTD. and Doug Leishman to terminate its option to acquire up to a 100% interest in the Perk-Rocky Property in British Columbia, under the property option agreement dated May 10, 2019, and amended on July 23, 2021.
Prospector Metals is a Discovery Group Company with a business model focussed on district-scale, early-stage exploration of gold and base metal prospects, and create shareholder value through new discoveries.
Contact the author at jon.hopkins@proactiveinvestors.com