Prospector Drills 7.3 g/t Au, 22.26 g/t Ag, & 0.9% Cu over 5.15m Including 1.3m @ 25.6 g/t Au from 101.30m Within an Envelope of 2.73 g/t Au, 6.92 g/t Ag, & 0.28% Cu over 18.06m
Prospector confirms a high-grade Au-Cu core within a 200 m strike at TESS, with the system remaining open.
Prospector Metals Corp. (PPP) has reported progress on its 2026 drill program at the ML Project in the Yukon, with a specific focus on the TESS Zone. The company has completed 68 holes totaling 13,074 meters, 44 of which targeted the TESS Zone. This work has defined the zone over at least 200 meters along trend and 150 meters in depth, with a true thickness ranging from 15 to 25 meters.
Key intercepts from the program include hole ML26-043, which returned 5.15 meters at 7.30 grams per tonne gold (g/t Au), 22.26 g/t silver (Ag), and 0.89% copper (Cu) from 101.30 meters. This interval includes a higher-grade section of 1.30 meters at 25.6 g/t Au and 0.50 meters at 19.5 g/t Au. A broader envelope from the same depth returned 18.06 meters at 2.73 g/t Au, 6.92 g/t Ag, and 0.28% Cu.
Hole ML26-041 intersected 26.60 meters at 1.47 g/t Au, 3.53 g/t Ag, and 0.18% Cu from 135.31 meters, featuring a 1.30-meter sub-interval grading 44.10 g/t Ag and 1.90% Cu. Meanwhile, hole ML26-040 intersected the TESS corridor with only anomalous gold, up to 0.208 g/t, and copper, up to 0.26%.
The mineralization is associated with coarse-grained bismuth-telluride (Bi-Te) sulphides and visible gold. The high-grade core is described as plunging and open along trend and depth. Assays are currently pending for all other 2026 targets, including NIT, Pebble, Skarn Ridge, and ML North, as well as for 383 rock and 4,274 soil samples. An additional 10,000 meters of drilling is planned before the end of the season.
Prospector Metals Corp. (PPP) is a grassroots explorer with no established reserves or resources, meaning its value is entirely dependent on defining a large, continuous, high-grade mineralized system. The company’s 2025 discovery initially delivered a single spectacular hole, but today’s news confirms that the TESS Zone is a continuous structure hosting multiple high-grade intercepts over at least 200 m of strike and 150 m of depth, featuring a high-grade plunging shoot. This development transforms the deposit from a single-hole discovery into a plausibly sizeable system that can be advanced toward a maiden resource.
The stock rose from approximately $1.10 to $1.36 in the days preceding the release, as the market anticipated the first 2026 assay results. The results are solid, showing good grade, visible gold, and system expansion, but they do not constitute a game-changing bonanza. The findings are broadly in line with what a well-funded follow-up program should deliver for a discovery of this calibre. While the results are positive and de-risk the thesis by increasing confidence in a continuous, large mineralized system, they do not re-rate the stock on their own.
Prospector Metals Corp. is a Canadian junior explorer focused on the 100%-owned ML Project, which spans 10,869 hectares in Yukon’s Tintina Gold Belt. The project hosts multiple targets, including the TESS Zone, a new discovery; Skarn Ridge, featuring Au-Cu skarns; and intrusion-hosted RIRGS prospects.
The company is well-capitalized with approximately $43 million in cash, no debt, and a fully funded 25,000-meter drill program for 2026. A strategic investment from B2Gold, which holds a 19.9% ownership stake, and a planned spinoff of non-Yukon assets into Lightning Resource Corp. are currently underway. Key management includes Rob Carpenter, known for his work on the Kaminak Gold Coffee deposit, alongside the Discovery Group team.