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Prospector Awarded $200,000 In Grant Funds For Exploration At Devon Ni-Cu Project, NW Ontario
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2024) - Prospector Metals Corp. &#x...
About this update from Prospector Metals Corp
[{"type":"text","content":"Prospector Awarded $200,000 In Grant Funds For Exploration At Devon Ni-Cu Project, NW OntarioVancouver, British Columbia--(Newsfile Corp. - September 25, 2024) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) (\"Prospector\" or the \"Company\") is pleased to provide an update for the Devon Ni-Cu Project in NW Ontario. While Prospector is primarily focused on the ML project in the Yukon, the Devon Ni-Cu Property remains a robust pipeline project that adds significant value and exposure to additional value streams.The Company has been approved by the Ontario Junior Exploration Program (OJEP) to receive a $200,000 grant to help fund exploration activities within the province of Ontario. The OJEP grant, a provincial program aimed at incentivizing exploration in the critical-minerals sector, supports the discovery and development of mineral resources vital to the global green transition by providing grants that cover 50% of eligible exploration expenditures. To date, Prospector has incurred approximately $250,000 in eligible expenditures (completed property-wide VTEM geophysical survey) and will incur an additional $150,000 in fully funded expenditures on prospecting and ground truthing of the resulting geophysical anomalies. A 2-week field program to test the geophysical targets has commenced and results will be announced when available.\"Our Ontario nickel and gold projects offer Prospector investors year-round access to exploration results in a Tier 1 political jurisdiction and our results to date at the road accessible Devon Ni-Cu Project justify detailed ground investigation of priority geophysical targets followed by initial drilling in early 2025. These funds are greatly appreciated and will be used directly in the ground.\"Devon Nickel Project HighlightsThe Devon Project lies on the Mesoproterozoic Midcontinent Rift system (MSR) which hosts a diverse suite of magmatic and hydrothermal mineral deposits in the Lake Superior region where rift rocks are exposed at or near the surface. Historically, hydrothermal deposits, such as Michigan's native copper deposits and the White Pine sediment-hosted stratiform copper deposit, were major MRS metal producers. The Devon Project comprises 12,200 hectares acquired through staking, 50km SW of Thunder Bay Ontario, and is road accessible (Fi...