Over 500 surface samples reveal high-grade gold, silver, copper, and other anomalous minerals.

Prospector Metals Corp. Aug. 15 announced the initial assay results from its 2024 exploration program at the ML gold-silver-copper project in Yukon, which revealed a newly identified mineralized corridor extending at least 15 kilometers (nine miles).

Comprising 4,757 hectares (11,747 acres) within the prolific Tintina Gold Belt, Prospector's Mike Lake (ML) property is located approximately 80 kilometers (50 miles) northeast of Dawson City and 25 kilometers (16 miles) northeast of the former Brewery Creek Gold Mine.

Acquiring the property earlier this year from Troilus Gold Corp., Prospector has only just begun to tap into this exciting, underexplored property, undertaking preliminary assessment work and prospecting activities to advance its understanding of the site's mineral potential.

According to the company, ML hosts one of the few remaining Tombstone-style intrusions in the region that has not been systematically explored – with no significant work completed since 2008. This project also boasts a historical database valued at C$12 million (US$8.8 million), which includes rock and soil sampling, airborne geophysics, and drilling data that has revealed over two dozen high-grade gold surface occurrences, some of which have never been drilled.

Recently, the company secured a strategic investment from B2Gold, a major global gold mining giant, emphasizing the potential of the ML Project.

With a surplus of funding, the company was able to quickly begin exploration efforts, starting with detailed rock sampling and geophysical surveys across the property.

This initial phase of work included comprehensive field mapping and sampling, which provided valuable data on the extent of known mineralized zones and identified new target areas. The team also conducted airborne geophysical surveys to enhance the understanding of the property's geological framework and guide further exploration.

Over the course of a month, the program involved collecting 520 rock grab and chip samples across the property. This extensive sampling aimed to map the extent of known mineralized zones and evaluate new areas with potential for undiscovered mineralization.

This led to the identification of a new mineralized corridor that extends over 15 kilometers (nine miles), encompassing many of the areas targeted for surface sampling.

Receiving the first batch of assays from 133 samples, values ranged from below detection limits to 34.64 grams per metric ton gold, 3.3% copper, and 420 grams per metric ton silver. Additionally, several samples showed highly anomalous levels of arsenic, bismuth, lead, antimony, tellurium, and zinc.

Prospector Metals Corp.

Several trends emerged from initial assay results within this corridor. These include:

• Cirque Trend: The assays from this area revealed significant gold values, with samples returning up to 21.68 g/t gold. These samples were obtained from sheeted quartz veins hosted within porphyritic intrusive rocks, which have yet to be drilled.

• Bueno Trend: This trend demonstrated high-grade gold and copper values, with assays showing up to 34.64 g/t gold and 1.8% copper. The mineralization here is associated with porphyry dykes and calc-silicate altered limestone found in north-trending structural zones that have not been previously drilled.

• Rubble Trend: Results from this trend included assays of up to 13.46 g/t gold and 3.3% copper. The mineralization is situated within a broad, low-lying zone interpreted as an intersection of two significant structural trends, which also remains undrilled.

• Java Trend: This area yielded assays up to 5.91 g/t gold, 2.24% copper, and 49.16 g/t silver. Located along a north-trending splay extending through the previously defined North Zone, this trend also highlights potential for additional mineralization.

"Our maiden field program at ML successfully established the presence of an extensive and high-grade mineralizing system on the claim block," said Prospector Metals CEO Rob Carpenter. "Our team has cracked the code and assembled a predictive geological framework based on structural geology, geochemistry and geophysics which will allow us to fingerprint and prioritize drill targets for 2025. We are still waiting for results from an additional 387 rock samples, and we anticipate being able to connect a number of zones along trend."

Looking ahead, Prospector Metals plans to build on these results by continuing detailed surface exploration and expanding its geophysical surveys. The next steps will involve prioritizing additional sampling in key areas of the newly identified mineralized corridor and preparing for potential future drilling to further assess the corridor's full extent and mineral potential.

This continued work aims to refine targets and enhance the understanding of the ML Project's resource potential.