Capella Minerals Ltd. is pleased to advise that Prospector Metals Corp. (“Prospector”) (TSXV: PPP) has today provided the market with a further update on its ongoing exploration activities at the Savant Gold Project (“Savant”) in Ontario, Canada.
Prospector is currently earning-in to a 70% interest in Savant in return for a combination of annual cash and share payments to Capella together with the sole funding of CAD 2M of staged work commitments prior to November 15, 2024.
Highlights from Prospector’s latest exploration update include:
1Grab samples are select samples and not necessarily representative of gold mineralization on the Savant property. |
Eric Roth, Capella’s President and CEO, commented: “Prospector’s summer field program at Savant has so far successfully delineated two key gold-bearing structural corridors – the Wiggle and Snowbird-Shoal Deformation Zones – both of which appear to be important regional conduits for gold mineralization. The interaction between these structural corridors and undrilled fold hinges in iron formation (favourable sites for gold deposition, such as at the past-producing Lupin and Homestake gold mines) confirm the district-scale potential of Savant. I look forward to keeping the market updated on progress at Savant, including timing to the drill testing of priority targets”.
Figure 1. Key target areas and assay results from the Savant project (Prospector Metals Corp. News Release dated August 15, 2022).
All Savant grab samples were sent to ALS Canada Ltd. (ALS) in Thunder Bay, ON, for preparation and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed using ALS’s Au by fire assay and AAS, 50 g nominal sample weight or Au by fire assay and gravimetric finish, 50 g nominal sample weight, and by a 48-element four acid ICP-MS analysis (ME-ICP61). Check samples were analyzed by metallic screen.
The technical information in this news release relating to the Savant gold project has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company’s President & CEO, a Director, and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 30 years of experience in international minerals exploration and mining project evaluation.
On Behalf of the Board of Capella Minerals Ltd.
“Eric Roth”
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Eric Roth, Ph.D., FAusIMM
President & CEO