Welcome to our dedicated page for Prospector Metals news (Ticker: PMCOF), a resource for investors and traders seeking the latest updates and insights on Prospector Metals stock.
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 Corp. (OTCQB: PMCOF) has significantly expanded its flagship ML Project in the Yukon through claim staking, increasing the project size by 128.48% from 4,757 ha to 10,869 ha. The company now owns 552 mineral claims, including 296 newly staked claims that are 100% owned and free of third-party royalties.
The company also provided an update on its ongoing drill program, reporting completion of 3,600 meters across 20 holes, running 970m ahead of schedule. The drilling has confirmed mineralized corridors within north-northeast trending structural zones. Key drilling areas include Bueno (9 holes), Skarn Ridge (8 holes), Java (2 holes), and Rubble (1 hole). First assay results are expected in the coming weeks, with delays attributed to systematic sampling and laboratory backlog.
Prospector Metals Corp. (OTCQB: PMCOF) has provided an update on its ongoing maiden 5,000m diamond drill program at the ML Project in Yukon. The company has completed 13 drill holes totaling 2,283 meters across four target areas: Bueno (6 holes, 1,028m), Skarn Ridge (4 holes, 674m), Java (2 holes, 299m), and Rubble (1 hole, 282m).
The drilling program has focused on testing various structural zones and mineralization targets, with Bueno targeting NE-trending structures with arsenopyrite mineralization across 275m of strike length. The program remains on schedule and on budget, with laboratory analysis in progress and results expected in the coming weeks.
BeMetals (OTCQB:BMTLF) has entered into a non-binding Letter of Intent with Prospector Metals Corp. to acquire up to 100% interest in the Savant Gold Project in northwestern Ontario, Canada. The project spans 232 km² in a prolific gold-producing region near the Red Lake and Musselwhite mines.
The agreement terms include minimum annual exploration expenditures of C$500,000, with ownership terms contingent on resource estimates. If BeMetals identifies ≥1,000,000 ounces of gold (minimum 500,000 ounces indicated), they will gain 100% project ownership. Additionally, BeMetals has extended its US$5 million loan agreement with B2Gold Corp. to August 4, 2029, with an adjusted interest rate of 6.7% per annum.
Prospector Metals (OTCQB: PMCOF) has signed a non-binding Letter of Intent with BeMetals for an option agreement on the Savant Gold Project in northwestern Ontario. The 232 km² project is strategically located near major gold producers including Red Lake and Musselwhite mines.
Under the proposed 5-year option agreement, BeMetals can earn up to 100% interest in the property by committing to: 1) Initial C$500,000 exploration expenditure in the first year, 2) Minimum C$500,000 annual exploration spending for five years, and 3) Delivering an NI 43-101 compliant Technical Report with resource estimates. The ownership structure will be determined based on the resource size, with BeMetals gaining 100% ownership if ≥1,000,000 ounces of gold are identified.
The project features eight high-grade gold occurrences with historical surface samples up to 138.87 g/t Au, with geology similar to the Musselwhite Mine which produced 212,000 ounces of gold last year.
Prospector Metals Corp (TSXV: PPP) (OTCQB: PMCOF) has applied to the TSX Venture Exchange to extend the expiration date of 1,785,711 common share purchase warrants. The warrants, currently set to expire on May 21, 2025, would be extended by 12 months to May 21, 2026. Each warrant allows holders to purchase one common share at an exercise price of CAD$0.30. The extension is pending TSXV approval, and warrant holders will only receive amended certificates upon request.
Prospector Metals Corp. (PMCOF) has received approval from the Yukon Government for their 2025 ML Project work plan, including permission for up to 5,000 meters of diamond drilling. The program, set to begin in June 2025, will focus on 5 target areas: Bueno, Skarn Ridge, Rubble-Cirque, North Vein, and Java.
Historical drilling at Skarn Ridge yielded significant results, including 89.3m of 1.38 g/t Au & 0.61% Cu and 75.9m of 2.86 g/t Au & 0.69% Cu. The North Vein target previously returned impressive results, including 18.43m of 7.67 g/t Au. New interpretations from the 2024 field campaign suggest gold mineralization is related to NNE trending, steeply dipping structural zones.
The program will include maiden drill testing on Bueno, Rubble-Cirque, and Java targets, along with additional prospecting, geologic mapping, and relogging of historic drill core.
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) has appointed Jodie Gibson, P.Geo. as Vice President Exploration, effective immediately. Gibson brings over 18 years of mineral exploration experience across North America, with significant expertise in Yukon gold exploration.
Gibson previously served as Project Manager at Underworld Resources Inc., where he discovered the Golden Saddle and Arc deposits that were sold to Kinross for $139 million in 2010. As VP Exploration at White Gold Corp, he oversaw $30+ million in exploration activities. He was named 2020 Yukon Prospector of the Year.
CEO Rob Carpenter highlighted their 15-year working relationship and Gibson's pivotal role in major Yukon gold discoveries. Gibson will lead Prospector's proposed 2025 drill program on the flagship ML project.
Jo Price has resigned as VP Exploration to pursue other opportunities but will remain as Technical Advisor. The company has also granted 560,000 incentive stock options to officers and consultants at $0.18 per share.