Prospector Provides Drilling Update, ML Project, Yukon
Prospector Metals Corp. (ticker PPP) has provided a progress update on its 2026 drill program at the ML Project in Yukon, highlighting initial assay highlights from the newly discovered TESS Zone and outlining current drilling progress. The company has completed 15 holes (3,203m) to date in 2026, with two rigs actively drilling the TESS Zone and a third rig expected to arrive June 27th to expand into additional targets.
The full 2026 program targets 25,000m of diamond drilling over a four-month period, with initial results expected in batches and planned expansion into Skarn Ridge, ML stock contacts, and other geophysical targets. The program began on May 24, 2026, and involves systematic 25m step-outs to confirm geometry and plunge orientations along the NE trending structural corridor hosting TESS and North Vein mineralization.
To date, 12 holes (2,591m) have been completed at TESS-NV, while 3 holes (612m) have been completed along a fence approximately 200m west of TESS-NV. The TESS Zone, discovered in late 2025, features gold mineralization interpreted to be hosted in a near-vertical or high-angle alteration/structural corridor along a NE-SW trend. Drilling is designed to test for gold along this trend and at depth.
Previous drilling results from 2025 include the following highlights: * ML31: 44m at 13.79 g/t Au, 1.89% Cu, 38.08 g/t Ag * ML32: 14m at 7.29 g/t Au, 24.98 g/t Ag, 0.91% Cu
Samples are currently at the assay laboratory, with initial results expected in the coming weeks. These will be released in batches of several holes typically drilled on the same cross section. Prospector Metals utilizes Bureau Veritas Labs for Whitehorse prep and Vancouver analysis. Rock samples are prepared via PRP70-250 (Dry, crush to 70% passing 2mm, riffle split 250g, pulverize >85% passing 75 microns). Analytical methods include FA430 (30g fire assay with AAS finish) and MA200 (multi-element analysis with 4-acid digest and ICP-MS finish).
Re-analysis protocols are in place for samples >10g/t Au, which are re-analyzed via 50g Fire Assay with Gravimetric finish. Samples >100 ppm Ag and/or >1% Cu, Pb, & Zn are re-analyzed via 4-acid digest and ore grade ICP-ES analysis. The QA/QC program includes industry standard procedures such as the insertion of certified standards, blanks, and duplicates into the sample stream.
Looking ahead, the third rig will focus on step-out drilling at Skarn Ridge, drilling across northern and southern contacts of the ML stock to evaluate intrusion-hosted mineralization, and other pending targets. Additional 2026 exploration activities include geologic-structural mapping, prospecting, soils sampling, additional LiDAR surveys, and ground-based geophysical surveys.
"Our 2026 drill season is well underway, and we anticipate completing our planned 25,000m on schedule and on budget," stated Prospector's CEO and Co-Chairman, Dr. Rob Carpenter PhD., PGeo. "We currently have both drill rigs on the TESS Zone and once our third rig arrives, we expect to begin testing nearby targets."
The technical content of this release has been reviewed and approved by Jodie Gibson, P.Geo., Vice President Exploration, in accordance with NI 43-101.