Prospero Silver Provides Drilling Update
TSX VENTURE: PSL
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2017) - Prospero Silver Corp. (TSX VENTURE:PSL) (the "Company" or "Prospero") is pleased to provide an update on planned drilling of the Matorral, Petate and Pachuca SE projects.
Prospero has selected a drill contractor for its planned 6,000m program on three projects. Drilling is scheduled to begin in late June. Prospero will first drill 4 holes at its Matorral project in the Santa Maria del Oro camp. The plan is then to drill 8 holes at its Petate project followed by 8 holes at Pachuca SE - project descriptions below. This drilling program is under the terms of Prospero's strategic agreement with Fortuna Silver Mines. Drill collar maps for Matorral will be available shortly on Prospero's website.
Santa Maria del Oro Project, Durango State
Matorral and Lineament targets
Matorral has over 7km of prospective structures and is one of two targets on the 9,066 hectare Santa Maria del Oro claims. A drill permit has been received by Prospero for 20 drill pads in 3 different areas to test for down-dip precious metal mineralization. Prospero's sampling has returned silver values from trace up to 460g/t Ag at surface.
The second target, the Magistral Lineament on the western side of the district, is approximately 1.8km away from the historic Santa Maria del Oro mine. The Lineament structure was defined by geophysics (see news release dated November 23, 2011). Surface access permits have been obtained and drill permits were received on April 26th, 2017.
Petate, Hidalgo State
The 6,868 hectare Petate property is the most advanced of Prospero's projects, with drill permits in progress for 30 drill sites and surface access already secured from the land owners. High-level epithermal alteration is exposed over a 5x4 km area with highly anomalous gold and silver hosted in extensive outcrops and float of steep to strata-bound jasperoid. The significant size of the silicified zones indicates that Petate is a robust mineralized system with excellent potential to host a replacement type deposit at depth.
Pachuca Southeast, Hidalgo State
The Pachuca SE target consists of high-level epithermal-style alteration exposed in clay pits adjacent and on-strike from the historic Pachuca mining district. Prospero received approvals from the Mexican archaeological agency (INAH) paving the way for obtaining title on the 7,256 hectare claim.
The anomalous geochemistry and clay alteration at Pachuca SE target are very similar to that seen in the Vizcaina structure above the historic Pachuca Mine. The target has size potential, strong hydrothermal alteration and a number of geochemical anomalies have been identified associated with structures that could host a preserved Pachuca-type epithermal deposit at depth.
The 430 hectare Bermudez project is in Chihuahua, about 150km west of the City of Chihuahua. Additional mapping and sampling has been completed on the 2.5km strike length of the high-level low-sulfidation vein system. Based on assay results of 51 new samples, the best locations for 4 drill sites have been selected to test the potential for deeper mineralization.
Acquisition of New Projects
Prospero's geologists have completed a 4 month field program. Selection of new projects will be done in collaboration with Fortuna Silver at the upcoming joint technical committee meeting.
Tawn Albinson, M.Sc., President of the Company, is a Qualified Person, as defined in NI 43-101, and is responsible for the technical content of this news release. Mr. Albinson is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 11368.
About Fortuna Silver Mines Inc.
Fortuna is a growth-oriented, precious metals producer focused on mining opportunities in Latin America. The company's primary assets are the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico and the Lindero gold project in Argentina.
About Prospero Silver Corp.
Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico´s geology to find new gold and silver systems. Our exploration programs are run by a small but highly-focused geological team based in Mexico.