Prospector Metals Corp. (OTCQB: PMCOF) generates frequent exploration news as it advances district-scale gold and base metal projects in Canada. Company releases highlight drill results, new discoveries, structural interpretations and option agreements that can materially influence how investors view PMCOF stock.
A major focus of recent news has been the ML Project in Yukon, a reduced intrusion-related gold system in the Tombstone Gold Belt. Updates describe high-grade gold and copper intercepts from targets such as the TESS Zone, Skarn Ridge, Bueno and North Vein. These releases detail mineralized intervals, structural trends, alteration styles and the expansion of multiple gold corridors across the property, as well as claim staking that has significantly increased the project’s land position.
News flow also covers Prospector’s activities at the Devon Copper-Nickel Project in northwestern Ontario, where VTEM geophysics, mapping and sampling have defined numerous Ni-Cu-PGE targets. The company has reported the start of a maiden drill program to test selected conductors at the Copper Hill occurrence area.
In addition, Prospector issues updates on corporate and project-generation activities, including option agreements on the Savant Gold Project in Ontario and the Nemo Project in Quebec, and management changes such as the appointment of a new Chief Financial Officer. Investors following PMCOF news can review these releases to track exploration progress, drill campaigns, option terms and corporate developments over time.
Prospector Metals (PMCOF) reported gold grading 41.34 grams per tonne over 7.81m in hole ML26-056 at its Yukon ML Project. The interval includes 130.77 g/t gold over 2.25m. Hole ML26-054 returned 6.10 g/t gold, 10.76 g/t silver and 0.55% copper over 5.79m. Of the six newly reported holes, ML26-053 had no significant values, while ML26-048, ML26-049 and ML26-055 returned anomalous results.
The TESS corridor has been defined over at least 400m along trend and to 175m depth, with high-grade gold drill-confirmed over at least 100m. Three interpreted mineralized shoots remain open in each direction. The fully funded 2026 program finished on schedule and on budget, completing 100 holes totaling 20,980m; results for 84 holes remain pending. Another 547 surface rock samples await final assays, supporting work to generate new drill targets for 2027.
Prospector Metals (PMCOF) reported new 2026 drill results from its fully funded ML Project in Yukon, highlighting multiple high-grade gold, silver and copper intercepts at the TESS Zone and a new nearby discovery.
Flagship hole ML26-46 cut 5.05 g/t Au, 29.25 g/t Ag and 1.16% Cu over 27.35m from 123.75m, plus 24.17 g/t Au, 31.64 g/t Ag and 1.62% Cu over 3.5m from 67.6m and 14.72 g/t Au, 47.72 g/t Ag and 1.81% Cu over 2.1m from 43.35m. Hole ML26-51 returned 6.44 g/t Au over 21m from 73.7m, including 56.48 g/t Au over 1.8m, while ML26-52 delivered 1.09 g/t Au, 8.45 g/t Ag and 0.41% Cu over 32.34m from 115.2m. Drilling has defined TESS over at least 350m along trend and to 175m depth, with a 15–25m thick structural corridor and a high-grade plunging core confirmed on every section over 75m.
Across the ML Project, 94 holes totalling 18,805m have been completed, including 10,140m over 54 holes at TESS. A new zone 350m northwest of TESS in hole ML26-45 returned 1.65 g/t Au over 2.58m. The program remains on schedule and on budget, with three rigs turning, additional assays pending, and follow-up drilling at TESS, Phoenix and other targets planned.
Prospector Metals (OTCQB: PMCOF; TSXV: PPP) reported initial 2026 drill results from the TESS Zone at its ML Project in Yukon. Highlight hole ML26-043 returned 7.30 g/t Au, 22.26 g/t Ag and 0.89% Cu over 5.15m from 101.30m, including 1.3m grading 25.6 g/t Au, 75.9 g/t Ag and 2.88% Cu, plus 0.5m at 19.5 g/t Au. Another interval in ML26-043 yielded 2.73 g/t Au over 18.06m. Hole ML26-041 intersected 26.60m grading 1.47 g/t Au from 135.31m.
According to Prospector Metals, 68 holes totaling 13,074m have been drilled in 2026, including 44 at TESS, defining the zone over at least 200m along trend and to 150m depth with an estimated true thickness of 15–25m. New mineralized horizons were also intersected at Skarn Ridge and within the Mike Lake intrusive stock, with assays pending for most 2026 holes. Laboratory backlogs are cited for slower-than-expected assay turnaround.
Prospector Metals (OTCQB: PMCOF) reported a progress update on its 2026 drill program at the ML Project in Yukon, focused on the high-grade TESS Zone. Hole ML26-043 returned 7.30 g/t Au, 22.26 g/t Ag and 0.89% Cu over 5.15m from 101.30m, including 1.3m at 25.6 g/t Au, 75.9 g/t Ag and 2.88% Cu, within an 18.06m envelope grading 2.73 g/t Au.
In 2026, 68 holes totaling 13,074m have been drilled across five target areas, including 44 holes and 8,150m at TESS. Drilling has traced TESS over at least 200m along trend and to 150m depth, with an interpreted true thickness of 15–25m, and the zone remains open.
New mineralized horizons have been intersected at Skarn Ridge and within the Mike Lake intrusive stock, while 383 rock and 4,274 soil samples are pending assay. Laboratory backlogs have delayed results, with complete assays currently available for only three TESS holes.
Prospector Metals (OTCQB: PMCOF, TSXV: PPP) reported a drilling update for its ML Project in Yukon. In 2026, 15 holes totaling 3,203m are completed, mainly on the TESS-North Vein target. A 25,000m, three‑rig diamond drill program over four months is planned, with a third rig expected June 27. Samples are at the lab, with initial assay results anticipated in coming weeks. Work also targets Skarn Ridge, ML stock contacts and jarosite anomalies, supported by BV Labs and industry-standard QA/QC protocols.
Prospector Metals and BeMetals (OTCQB:BMTLF) plan a non-brokered private placement of up to 8,000,000 subscription receipts at $0.50, for gross proceeds up to $4,000,000. The financing supports BeMetals’ acquisition of Prospector’s non‑Yukon projects and a planned name change to Lightning Resource Corp.
Receipts convert into Finco units, then into Resulting Issuer shares and warrants after TSXV, shareholder, and court approvals.
Prospector Metals (OTCQB: PMCOF) began a fully funded 25,000m diamond drill program at the ML Project in Yukon, running over four months to late September. The $16 million exploration budget is supported by an approximate $43 million cash balance.
Three drill rigs will target expansion of the high-grade TESS Zone, test TESS “look‑a‑like” targets within 4km, advance the Skarn Ridge target, and assess intrusion-hosted mineralization along northern and southern ML stock contacts, alongside mapping, soils, LiDAR and geophysical surveys.
BeMetals (OTCQB:BMTLF) provided an update on its proposed acquisition of Prospector Metals’ non-Yukon exploration projects and marketable securities for 29,400,000 post-consolidation shares. The company completed a 1-for-10 share consolidation, obtained conditional TSXV acceptance, and set a July 3, 2026 shareholder meeting for disinterested approval and board reconstitution. Subject Assets include a 100% interest in the Savant Gold Project, the Devon, Whitton and TooGood projects interests, a proprietary geological database, 5,000,000 TooGood Gold shares, potential future option payments, and $150,000 of Devon Project grant funding.
Prospector Metals (OTCQB: PMCOF) announced new technical and corporate hires plus a major asset transaction with BeMetals.
Prospector has conditional TSX Venture approval to sell its remaining non-Yukon projects for 29,400,000 BeMetals shares, which it plans to distribute pro-rata to shareholders.
The deal is intended to create two focused explorers while Prospector advances a fully funded 25,000m ML Project drill program in 2026, with initial crews already mobilized.
BeMetals (TSXV:BMET) agreed to acquire Prospector Metals' non-Yukon exploration projects in exchange for 29,400,000 post-consolidation shares, representing ~49.9% of the post-close company. The deal includes a 10-for-1 share consolidation, a name change to Lightning Resource Corp., board reconstitution and continued major ownership by B2Gold.
Closing is subject to TSXV approval, shareholder or court orders and other customary conditions.