Prospector Metals sets 25,000 m Yukon drill plan

Executive Summary

• Prospector Metals Corp. announced its fully funded 2026 drill strategy for the ML Project in the Yukon, outlining a 25,000-meter exploration program with an estimated budget of $15 million.
• The company confirmed it is well-capitalized with over $42 million in cash and cash equivalents, securing three drill rigs and all necessary land use permits, with drilling scheduled to commence in May 2026.
• The 2026 campaign will prioritize expansion drilling at the newly discovered TESS zone, test "look-alike" targets within a four-kilometer radius, and continue testing high-priority targets at Skarn Ridge and new greenfield prospects like Rubble North.

Key Details

• Program Scope & Funding:
  • Total drilling volume: 25,000 meters.
  • Estimated budget: ~$15 million.
  • Funding status: Fully funded; company holds >$42 million in cash and cash equivalents.
  • Logistics: Three drill rigs secured; all land use permits in place.
  • Start Date: May 2026.
• TESS Zone Expansion:
  • Focus: Systematically test the TESS structure along trend and to depth.
  • Recent Intercepts (2025):
    • Hole ML25-31: 44m at 13.79 g/t Au, 1.84% Cu, 38.08 g/t Ag.
    • Hole ML25-32: 14m at 7.29 g/t Au, 0.91% Cu, 24.98 g/t Ag.
  • Geology: Blind discovery obscured by talus; hosted in near-vertical structural corridor; associated with jarosite alteration and strong oxidation.
  • Specific Intercepts Detail:
    • ML25-031: 14m at 4.60 g/t Au, 3.76 g/t Cu, 74.23 g/t Ag (62m depth); 24.65m at 21.93 g/t Au, 1.14% Cu, 25.58 g/t Ag (81.35m depth).
    • ML25-032: 14m at 7.29 g/t Au, 0.91% Cu, 24.98 g/t Ag (57.05m depth).
• Skarn Ridge Targets:
  • Location: 4 km south of TESS.
  • 2025 Key Intercepts:
    • ML25-010: 45.65m at 2.11 g/t Au, 0.48% Cu (44m depth).
    • ML25-014: 25m at 2.97 g/t Au (137m depth).
    • ML25-024: 27m at 2.04 g/t Au, 0.42% Cu (24m depth) and 19m at 4.33 g/t Au, 0.5% Cu (57m depth).
  • Geology: Gold-bearing structures parallel to each other, open along trend and to depth; traced over 1.5 km along strike with 600m vertical continuity.
  • 2026 Plan: Test strike and depth extent of mineralized corridors and potential subparallel zones.
• New Greenfield & Other Targets:
  • Rubble North: Discovered during 2025 prospecting; returned samples of 57.8 g/t Au and 109 g/t Au from silicified/brecciated rocks near Skarn Ridge.
  • TESS Look-alikes: Identified targets within 4 km of TESS based on geochemistry, alteration (jarosite/iron-oxide), and structural trends.
  • Intrusion-Related Gold Systems (RIRGS): Priority to evaluate five mapped intrusive bodies (Anvil, Fishbowl, Mike Lake, Lorrie Lake, Bear stocks) for sheeted vein-style mineralization, supported by geophysical modeling suggesting blind intrusions at shallow depths.
  • Project Area: 108.69 square kilometers.

Notable Quotes

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