Prospector Metals (TSXV:PPP) announced that it has made three new Ni-Cu project acquisitions in Quebec through staking. The company acquired 100% interests in the projects as part of its Ni-Cu-PGE exploration strategy with a focus on high-grade, conduit-hosted deposits. This strategy is based on technical re-evaluation of publicly available geologic and geophysical data at the projects where Prospector believes drill-ready targets have been overlooked. Jo Price, P. Geo, VP Ex. at Prospector Metals commented in a press release: “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.”

The three projects include Lac Manitou, Lac Nipisso, and Nemo. Prospector Metals’ business model focuses on district scale, early-stage exploration, which the three projects fit. By identifying overlooked and underexplored mineral districts that may display important structural and mineralogical similarities in mining camps, the company hopes to unlock potential that other companies may have missed. These projects mark a step beyond the company’s usual territory, as most of Prospector Metals’ acquisitions have been in Ontario, an often-overlooked tier-1 mining jurisdiction.

Lac Manitou Project Highlights:

Figure 1. Geological Provinces in Quebec. Source: Prospector Metals Corp.

The Lac Manitou Property comprises 10,082 hectares acquired through staking, 85km NE of Sept Iles, QC (Figure 2).

  • Underexplored ultramafic complex with existing publicly available 2008 helicopter-borne AeroTEM II data.
  • In a thorough review of the historical geophysical data (conductor and decay contants (Tau) amplitude, magnetic expression, shape and size, and taking into account the geologic setting, including the proximity to known nickel-copper-PGE occurences), Prospector identified three highly prospective conductors as potential initial drill targets that have seen no modern exploration or drill testing todate.
  • Strong prospective conductors are coincident with low angle faults and have a strike length of greater than 200m. Locally, historical grab samples are reported to have assayed 1.26% Ni, 1.54% Cu & 0.87% Ni, 0.08% Cu.
Figure 2. Lac Manitou and Nipisso Project Locations and Geology Map. Source: Prospector Metals Corp.

Lac Nipisso Project Highlights:

The Lac Nipisso Property comprises 13,051 hectares acquired through staking, 80km NE of Sept Iles, QC with Quebec Hydro Transmission lines crossing the western edge of the claim boundary (Figure 2).

  • The Lac Nipisso project covers a series of elongate easterly to northeasterly trending conductors up to 6km 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 (VTEM) 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 6km 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 Highlights:

The Nemo Property consists of 15,695 hectares acquired through staking, in the southern Labrador Trough, QC, located 80 km northeast of 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 (Figure 3).
  • Overlooked – Very underexplored, but with favorable mafic-ultramafic intrusions, and known historical Ni-Cu magmatic sulfide occurrences in the northern block, associated with historical frequency-domain EM anomalies, that have not been followed up with modern Time Domain (VTEM) geophysics, detailed magnetics or drilling
  • Proven Regional Endowment – A cluster of nine small bodies of magmatic sulphides, in aggregate approximately 4.8 M tonnes @ 0.87% Cu, 0.52% Ni and 0.84 gpt PGE, with individual deposits ranging from 0.03 M to 1.37 M tonnes, 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.
Figure 3. Nemo Project Location and Geology Map. Source: Prospector Metals Corp.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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