Prospector Metals Corp [PPP-TSXV, PMCOF-OTCQB, 1ET0-Frankfurt] has named Dr. Rob Carpenter as President CEO. He replaces Alex Health, who remains as chief financial officer and director.
Carpenter was previously the company’s Co-Chairman. He was the co-founder, President and CEO of Kaminak Gold Corp. where he led the company through the discovery of he 5.0-million ounce Coffee Gold project in west-central Yukon. Now held by Newmont Corp.’s [NGT-TSX, NEM-NYSE], Coffee is a proposed open-pit and heap leach gold development project.
Carpenter’s appointment was announced after the close of trading on September 14, 2023, when Prospector shares closed at 10 cents. The shares are currently trading in a 52-week range of 28.5 cents and $0.08.
Prospector Metals is focused on district-scale early-stage gold and base metal projects in Newfoundland, Quebec, Ontario and British Columbia.
Back in March, 2023, Prospector said it had raised $1.14 million from an non-brokered private placement consisting of Ontario charity flow-through shares priced at 28 cents each and Ontario flow-through units priced at 21 cents each.
In connection with the offering the company issued 4.6 million flow-through units with each flow through unit being comprised of one flow-through share and one half of one common share purchase warrant. Each warrant is exercisable into one common share at an exercise price of 30 cents for two years from the date of issue.
The company said it intended to use the proceeds for diamond drilling at the Whitton nickel-copper project in Ontario, which was expected to begin in early April and for advancing the company’s portfolio of nickel and gold projects in Ontario.
The Whitton Project (formerly known as Heaven Lake) is a 100%-owned district scale nickel-copper-platinum group elements project covering 4,400 hectares and located 20 kilometres north of Impala Canada’s Lac de Iles platinum and palladium mine.
The company said a maiden diamond drilling program of up to 1,000 metres would target newly identified, never previously drilled, shallow, steeply dipping electromagnetic conductors (EM) to test for nickel-copper magmatic sulphides.
The presence of low-grade, yet significant anomalous nickel-copper PGE values in rocks with less than 5.0% total sulphide (disseminated) suggests that rocks with massive sulphide concentrations could yield much higher metal values, the company said.
“Within a span of two years, Prospector has advanced Whitton from staking to drilling – demonstrating the company’s ability to systematically advance projects in a cost-effective manner while providing significant discovery potential,’’ said Heath in a press release on April 3, 2023.
The maiden drill program consisted of four NQ-sized diamond drill holes covering 826.40 metres and tested the Roadcut target and Whitton nickel-copper sulphide target. The Roadcut target holes returned significant intervals, including 0.49 g/t platinum-palladium over 10.50 metres from 14 metres. No significant metal values were reported from drilling in the Whitton target.
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