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Drill Results

Perseverance Metals Identifies the Venus East Ni-Cu-Co-PGE Mineralized Trend on the Lac Gayot Project, Quebec, Canada

By The Northwire Desk — AI Analysis Oct 14, 2025 · 07:02 PMI · 1.05 Perseverance Metals Inc.
PMI · Price

Executive Summary

  • Perseverance Metals announced the discovery of a new Venus East Ni‑Cu‑Co‑PGE mineralized trend on its Lac Gayot project, defined by six surface showings over a 6 km × 2 km corridor.
  • Four drill targets were tested in the 2025 summer/fall program (three within the Venus East Trend); assay results are pending and expected by mid‑December 2025.
  • The company plans an extensive high‑resolution ground SQUID EM survey in 2026 to expand the trend and identify additional targets, and retains a 100 % earn‑in option on Lac Gayot until 31 Dec 2027.

Key Details

  • Trend Definition: Venus East Trend lies within the Upper Komatiite sequence of the Lac Gayot project; characterized by ultramafic rocks with disseminated to semi‑massive sulphides (pyrrhotite, pentlandite, millerite, chalcopyrite).
  • Surface Showings: Six new surface mineralized showings identified to date along a 6 km magnetic high corridor.
  • Drill Program 2025: Four holes drilled (three in Venus East Trend); all assays pending.
  • Exploration Objectives & Results
  • Objective 1 – Upper Komatiite: Discovered two new surface Ni‑Cu‑Co‑PGE showings (Macaque boulder source, Babouin zone ~3 km along trend).
  • Objective 2 – Footwall Granitoid: Discovered two additional surface showings with disseminated pyrrhotite‑chalcopyrite mineralization.
  • Assay Timeline: Surface sample results expected late Oct–mid Nov 2025; drill results expected late Nov–mid Dec 2025.
  • Future Work (2026): Planned 2.5 km × 6.5 km ground SQUID EM survey over the Venus East Trend to locate conductors and generate new drill targets.
  • Earn‑in Option: PMI holds an option to earn 100 % interest in Lac Gayot, exercisable through Dec 31 2027 under agreement with Electric Elements Mining Corp (spin‑out of Osisko Development Corp).
  • Technical Review: Qualified Person Hugues Guérin‑Tremblay, P.Geo (OGQ #1584), reviewed and approved the technical content.
  • QA/QC Procedures: Blank, duplicate, and standard samples inserted; ALS Minerals performed PREP‑31a preparation and analysis.

Notable Quotes

“Our initial exploration at Lac Gayot has overwhelmingly validated and strengthened our core hypotheses, confirming that this belt holds an immense amount of highly prospective ground for magmatic Ni‑Cu‑Co‑PGE deposits,” – Michael Tucker, CEO & Director.

Read the original news release →

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