Progenitor Metals Corp. is a Canadian mineral exploration company formed by a group of experienced geologists and capital markets professionals focused on advancing and developing a large contiguous set of assemblage within the Temagami Greenstone belt.
The Temagami Greenstone belt is situated in Northern Ontario, 100 kilometres north of North Bay. It has very similar structural controls and lithology as compared to the more well-recognized and explored Abitibi Greenstone belt – which sits 100 kilometres north. The Progenitor team grew its assets from 5,400 hectares of land to over 26,000 hectares of contiguous property with two historic mines. There is just under 70,000 metres of historical drilling (over $5.6 million in today’s dollars) and an extensive government database with over 300 different work programs in the property boundary – 23,000 metres of this core is held in good condition at the Progenitor field camp in Temagami, which the company prepares to relog, cut and assay for re-interpretation.
There was a land caution from 1973 to 1996 on the tenure and the subsequent market downturn in 1997 to 1998 led to limited modern, highly advanced scientific exploration work done. The area missed two big cycles of exploration in the 1980s and 1990s and, as a result, leaves tremendous exploration upside. Moreover, from the early 1960s to mid-2000s, some of the most prospective lands were tied up by Teck, Dofasco (Sherman Mine) and, most recently, Falconbridge/Glencore. In 2008, Amador Gold Resources commenced close to 8000 metres of drilling on the Kanichee mine, now owned by Progenitor, which is intact and can be made available to any future NI 43-101 resource studies.
Progenitor, together with a top-tier Canadian university, will be working on building a thesis for further understanding the linkage between the Temagami Archean shear zone and the gold mineralization associated. The result of this work will further the company’s ability to target and uncover value from the exploration work founded on this thesis. The primary phase of work involves characterizing the host rocks and alteration mineralogy, the petrogenetic affiliation of the intrusive rocks and geochemical nature of the alteration types, mineral paragenesis, constrain the age of the magmatic and hydrothermal/structural events in the district and to assess the trace elements in the iron sulfide phases, which have shown to be an important part of mineral deposit studies and more.
“Because of all of these factors, I am very excited to be on this journey and would recommend any reader of this magazine to be watching this sector, and especially this region as it is developed by our team,” says Christopher Reynolds, president and CEO of Progenitor.
