Perseverance Metals Inc. (“Perseverance” or the “Company”) (TSXV: PMI) is very pleased to announce that it has discovered a near-surface, magmatic nickel and copper sulphide-bearing mafic-ultramafic intrusion (the principal host rock of major nickel-copper mines in the region) at the Osprey target on the Voyageur Project, in the Upper Peninsula (“UP”) of Michigan, USA, approximately 65 kms west of the Eagle mine.
Four diamond drill holes have tested a blind geophysical target, with three intersecting a mafic-ultramafic intrusionof similar composition to the intrusion that hosts the Eagle Ni-Cu-PGE mine to the east. Eagle has generated over US$3.2 billion in revenue since 2014 and has produced 194,000 tonnes of nickel and 185,000 tonnes of copper as of Q3 2025.1
The Osprey intrusion has to date been documented at up to 50 metres thick and consists of three phases, including a basal, coarse-grained peridotite locally containing 3-8% magmatic sulphides, both interstitial and as chalcopyrite-pyrrhotite sulphide blebs and globules . Significantly, all three phases of the host intrusion locally contain sulphides.
Portable XRF (“pXRF”) analyses confirm that these sulphides are nickel and copper bearing. Assay results, geochemistry of the intrusion, and petrography of the sulphides are pending.
Significance of the Discovery and Next Steps:
- Rare, fertile discovery analogous to Eagle and Tamarack host intrusions – Fertile mafic-ultramafic intrusions like Osprey are rare in the Mid-Continent Rift (“MCR”) but are known to host the Eagle mine (Michigan) to the east and Tamarack deposit (Minnesota) to the west
- Nickel and copper mineralization confirmed – The identification of disseminated to globular magmatic sulphides, including chalcopyrite, pyrrhotite, and possibly pentlandite (see Figure 1) has come early in the exploration of Osprey, with only four holes completed to date on the Company’s first drill target on the project. The presence of these nickel and copper bearing magmatic sulphides confirms the intrusion’s fertility – and its ability to generate and host nickel-copper mineralization.
- Exploration approach works – The Osprey intrusion discovery validates the Company’s exploration methodology and strengthens the case for the other targets on the Voyageur project.
- Next steps for Osprey – The drill rig has moved to test Target 2 on the Voyageur project, while the Company’s technical teams complete detailed ground geophysical surveys, borehole EM surveys, geochemistry, petrography, and other diagnostic work to guide further drilling at the Osprey intrusion.
“To discover the Osprey intrusion and achieve our core initial Voyageur objective on just the third hole into our first target is an outstanding result and marks a significant milestone in the advancement of our this project in the fertile MCR. We firmly believe that this underexplored district, already host to Talon’s Eagle Mine, Humboldt Mill, Tamarack deposit, and new Boulderdash discovery, is emerging as North America’s next premier nickel-copper-PGE district,” commented Michael J. Tucker, Perseverance Metals’ CEO.
“This validation of our exploration methodology immediately allows us to enter Phase Two of testing the intrusion and begin the process of testing other targets on the Voyageur project. Our exploration follow-up will consist of additional drilling, detailed geochemistry, as well as airborne and ground geophysics to guide us to where there may be massive sulphide accumulations within the Osprey intrusion, and to target other fertile intrusions in the region.”
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