Prospectiva Resources Commences Drilling at the São Francisco Copper-Gold Project
TORONTO, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Prospectiva Resources Ltd. (TSX-V: PSVA) (“Prospectiva” or the “Company”), a Brazil-focused copper and gold exploration company advancing a portfolio of 100%-owned projects in the highly-prospective Borborema Belt, is pleased to announce that its maiden diamond drilling programme at its flagship São Francisco Copper-Gold Project (“São Francisco” or the “Project”) is underway.
The fully funded drill programme comprises 2,500m across 10 holes. The first hole is already complete with drilling underway at hole two. The programme is expected to be complete by November. Drill results will be released as assays are received and reviewed by the Company.
Dan James, Chief Executive Officer of Prospectiva said, “We believe São Francisco has the potential to be significantly larger than the mineralised footprint defined historically. Our recent work has identified multiple new targets and provided a clearer understanding of the controls on mineralisation. This maiden drilling programme is an important step in establishing the scale and continuity of São Francisco and testing its potential for further near-surface high-grade copper mineralisation.”
São Francisco is newly interpreted by the Prospectiva team as a deformed and metamorphosed volcanogenic massive sulphide (“VMS”) style system, hosting high-grade copper mineralisation with associated gold, silver and zinc. Historical drilling by Yamana defined an approximately 2km copper-gold mineralised zone. Prospectiva’s recent work, including its fixed-loop electromagnetic (“FLEM”) survey, has extended the interpreted mineralised target to approximately 3km and identified a number of additional conductive targets that have not previously been tested.
The programme will initially target the high-grade, near-surface mineralisation in the western end of the 3 km exploration target zone (“SF1”). Historical drilling intersected mineralisation between 40 to 60m below surface, interpreted to represent a continuation of the massive sulphide mineralisation identified at surface during the original 2019 discovery.
The recent FLEM survey identified a dominant flat-lying EM conductor coincident with the known massive sulphide mineralisation, comprising pyrrhotite and chalcopyrite. Five holes, averaging approximately 150m in depth, are planned at SF1 to test and expand the known footprint of the high-grade mineralisation.
Following the completion of the SF1 drilling, the programme will move to the eastern end of the exploration target (“SF2”), where historical drilling identified broader zones of disseminated copper mineralisation. While these zones are not directly coincident with the new EM targets, disseminated mineralisation can occur on the flanks of VMS mineral systems and provides important geological context for the SF2 targets.
The FLEM survey identified a series of conductors to the south of the known disseminated mineralisation, which will form the primary focus of drilling at SF2. At the eastern end of SF2, the conductors change direction and swing to the southwest, potentially representing a fold structure. Drilling will test both the southwest-trending limb and the fold nose – the area where the two limbs converge - which may represent a favourable structural setting for the local remobilisation and concentration of mineralisation.
Downhole electromagnetic (“DHEM”) surveys will be conducted throughout the programme, with results reviewed as drilling progresses to refine targets and, where appropriate, optimise subsequent drillholes towards the strongest conductive responses. Drill core will also be orientated to support structural interpretations and improve the understanding of the controls on mineralisation.
Figure 1. Location map showing the 3km prospective geological and geophysical corridor at São Francisco (SF1-SF2), with EM conductors overlaid on IP-chargeability
QP Statement
The scientific and technical information contained in this press release has been reviewed and approved by Robert Selwyn MGeol, CGeol, FGS, a Qualified Person as defined by NI 43-101. Robert Selwyn is a Chief Geologist and is a non-independent consultant to Prospectiva.
ON BEHALF OF THE BOARD OF DIRECTORS OF PROSPECTIVA RESOURCES LTD.
“Dan James”
CEO and Director
For more information, please contact:
Dan James, Chief Executive Officer
Tel: +1 (647) 947-2145
Email: ir@prospectiva-resources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Prospectiva Resources Ltd.
Prospectiva Resources is a Brazil-focused copper and gold exploration company advancing a district-scale portfolio of 100%-owned projects across the highly prospective but underexplored Borborema Province in northeastern Brazil. The Company’s land package comprises 35 mineral exploration licences covering approximately 335km² across the states of Pernambuco and Paraíba with current focus on its flagship São Francisco Copper-Gold Project.
São Francisco is the Company’s priority exploration asset. Historical drilling has tested approximately 2km of the prospective trend and intersected high-grade, copper-dominant mineralisation at multiple locations. Geological interpretation, historical IP geophysics and Prospectiva’s recent FLEM survey have subsequently defined a broader prospective geological and geophysical corridor extending for approximately 3km. The additional target areas include electromagnetic conductors at depth and broadly along the interpreted easterly plunge of the known mineralised system that have not previously been drill tested.
Prospectiva is undertaking a diamond drilling programme to test newly identified electromagnetic conductors within a 3km long prospective corridor. The programme forms part of the Company’s strategy to advance São Francisco towards the potential definition of an initial Mineral Resource in 2027.
Forward looking statements: This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Forward-Looking Statements are not guarantees of future performance. They are based on the opinions, estimates and assumptions of the Company's management as of the date of the news release, having regard to management's experience and perception of trends, current conditions and expected developments, and are inherently subject to significant risks, uncertainties, contingencies and other factors, many of which are beyond the Company's control. All Forward-Looking Statements in the news release speak only as of the date of the news release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ee98b0e-de99-4534-bc50-5da6abd95cec
