Schefferville, Quebec

100% (owned): District Scale Iron Formation Hosted Gold

Schefferville Gold Project Review & Highlights

  • Phase 1 work comprised property wide prospecting, regional structural analysis, and ground truthing of targets defined through compilation of existing historical data and prioritized a number of targets for more detailed Phase 2 field work. Ethos defined 44 prospective targets on which ground truthing and prospecting were conducted during Phase 1 field work, which extended for 21 days in the early summer 2021 (see ECC press release dated October 5, 2021).
  • A Phase 2 exploration program during late September to mid-October 2021 on high priority targets identified during Phase 1, including Arsene, Beluga, Wolf, Rover Valley and South Hills, and comprised geological mapping to define the extent of prospective iron formations, additional rock chip sampling on these targets, and stripping and saw-cut channel sampling in four previously unsampled areas at Arsene Prospect. Grab samples returned assays up to 8.5 g/t Au (Disco), 3 g/t Au at Arsene, 1.9 g/t Au at Wolf, 4.59, 0.6, and 0.61 g/t Au at Baleine Rouge/NE and 1.12 and 0.44 g/t Au at Beluga (Figure 1). These results confirm the prospectively of these targets.
  • Project wide, approximately 53 gold occurrences grading from 1 g/t Au up to 171.5 g/t Au in mineralized iron formations have been documented. Only six of these 53 prospect areas have been historically drill tested at all. A total of 35 short holes on these six prospects yielded results including 2.23 g/t Au over 19.55 m, 10.21 g/t over 2.03 m and 1.05 g/t Au over 12.55 m.

Initial Plans for 2022

The goal of the summer 2022 field program is to define drill targets at a number of the presently more advanced targets in the central portion of the Sable claim block, as well as to advance newly discovered areas of iron formations with anomalous gold encountered in other targets during the 2021 field programs.

  • All witness rock samples and pulps from analyzed rock samples collected during the 2021 field programs will be measured for magnetic susceptibility and analyzed for major and trace elements by portable XRF. Results of these measurements and analyses will provide a template for guiding more tightly focused rock sampling during the planned June – July 2022 field program, which will be critical given the vast scale of the Project area.
  • A detailed helicopter/drone aeromagnetic survey (25m line spacings and nominal 15m terrane clearance height) is planned for Spring 2022 for the central portion of the Sable claim block, covering the Arsene, Beluga, and Baleine targets at the western extent of the planned survey, the Wolf & South Hills targets in the central portion, and the Rusty Aces, Rover Valley & Disco target areas at the eastern extent of the planned survey.

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Prospector Metals Corp.

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