“With our recent discovery of the nickel-copper bearing Osprey intrusion, consolidating and increasing our mineral rights on the Voyageur project has become a top priority for the Company,” said Michael J. Tucker, CEO. “We are very pleased to secure these strategically important land positions, and we expect to continue to add additional mineral rights in the coming days.”
Beyond the Headline
Key developments announced by Perseverance on October 28, 2026:
- Signed an option agreement to acquire 240 acres (approximately 97 ha) of additional mineral rights in Houghton County, Michigan. Adding to the Voyageur project property (a map showing the location of the new ground has not been published).
- The acquisition follows the recent discovery of the nickel-copper sulphide-bearing Osprey mafic-ultramafic intrusion.
- The broader Voyageur Project covers approximately 680 km², located about 65 km west of the Eagle nickel mine operated by Talon Metals Corp. which purchased a 100% interest in the mine and the associated Humbolt Mill from Lundin Mining Corp (Figure 3-1). on January 9, 2026. Lundin retains a 19.9% interest in Talon Metals.
- Total acquisition consideration over six years is US$235,000 cash and US$225,000 in shares.
- A 3% NSR royalty applies which can be reduced to 1.5% through a payment of US$1 million before completing a PEA or US$2 million after a PEA but before a production or construction decision.
- Inaugural exploration diamond drilling program at Voyageur is continuing.
Comments
The Osprey discovery is particularly important because the Midcontinent Rift contains mafic-ultramafic intrusive systems prospective for significant magmatic nickel-copper sulphide deposits. The target is NI-Cu-PGE-bearing sulphide concentrations along basal contacts, feeder conduits and/or structural traps. The Osprey discovery has key features in common with the Eagle Mine including re-polarized or partially polarized magnetic highs, coincident gravity anomalies, associated chromium-rich dykes and proximity to major deformation corridors.
Figure 3-1 Source, Perseverance Metals
