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Prospector Metals (TSX-V: PPP)(OTC: ETHOD) CEO Alex Heath on Swinging for Home Runs in 2022
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Prospector Metals, Mr. Alex Heath. Alex, how are you today?
Alex Heath: I'm doing great. How are you?
Gerardo Del Real: I'm excellent. Excited to see something I had hoped to see in 2021, which is of course drilling at the Toogood Project. Drilling has commenced, diamond drilling has commenced. We spoke a bit off-air, I know that you're excited to see the drills turning. Give us the context, Alex.
Alex Heath: Yeah, absolutely. So we're pretty excited as well, it's a long time coming. We acquired this property in Newfoundland in 2020, so quite a bit of time since we first made the acquisition. Part of it was COVID related, we couldn't get on the ground right away. But now that we've gotten our guys on the ground, we've found some very high grade samples. We've trenched it, we've got gold in bedrock with outcropping quartz veins, and it's time to drill. So we're very excited to have that going right now.
Gerardo Del Real: Tell me about how you selected the targets that you're drilling. It's two separate targets is how I understand it, correct?
Alex Heath: That's right. So like I said when we got in there in 2021, we started with prospectors going around and following up with some historical samples. There were some visible gold samples near where we found these two targets. But our guys were able to find very high grade visible gold, upwards of 7,000 plus grams per tonne at the Titan, and around 1,000 grams per tonne over at Quinlan. So these areas are areas that we found grab samples, these aren't necessarily outcropping quartz veins. But these grab samples allowed us to sort of vector in to where we have now found outcropping quartz veins. We've done some channel sampling, there's gold in the bedrock here. And so those are the reasons we've got these two areas. So that's like the first place we'll start drilling.
Gerardo Del Real: Initial drilling will consist of 2,600 meters, I have to assume, if you like what you see that may be expanded?
Alex Heath: Absolutely, yeah. This is just the initial drill program. So we'll do about 1,000 meters at Titan. That one I'm probably the most excited about, that's where we had those very high grade hits. And then Quinlan is very exciting as well, we'll do about 1,200 meters there. And then in between the two areas, we don't have outcropping quartz vein, but we'd like to see if we can maybe connect the two, we'll do about 400 meters there.
Gerardo Del Real: You've been very upfront and honest about the fact that 2022 is the year where you expect and want to make at the very least one significant discovery. You’re swinging for home runs is the way that you described it to me in past conversations. Walk me through the rest of the portfolio and what's going on there.
Alex Heath: Yeah. So we've announced that we're advancing two other projects within our portfolio. One is Savant, which is in Ontario. This is an iron hosted gold formation. These are the types of deposits where they're very consistent. They're typically quite large, about 3 million ounces. They're high grade around eight plus grams per tonne. They've got a very simple metallurgy, and then we know the majors love them. So we've got our exit strategy sort of built in, we've got high grade samples on the surface. So what we're trying to do this year is get to the drill stage. So do a little bit more work, advance it for about $500,000 and then get it to a drill program later in the year, that's Ontario. In Quebec, we've got a very large project called Schefferville. Again, an iron formation hosted gold area. We've got almost 100 kilometers of strike, so it's an entire district. And what we're trying to do there is again, come up with where is the areas of most interest, so that we can start a drill program and hit the ground running.
Gerardo Del Real: Exciting times. I know you're at the conference up in Vancouver. Where can people catch you if they're around here the next day or two?
Alex Heath: Yeah. So we're at the Discovery Booth. We're at booth number 430. Come by, you can talk to me and some of the other partners that we have.
Gerardo Del Real: Alex, great catching up, fingers crossed we'll chat soon.
Alex Heath: Awesome. Thanks a lot.