Prospero Reports Reverse Circulation Drilling Results at the Baborigame Project, Chihuahua
20 Agosto 2013 - 4:48PM
Marketwired Canada
Prospero Silver Corp (TSX VENTURE:PSL) (the "Company"): The Company is pleased
to report the results of a 4,103 meter reverse circulation (RC) 16 drill hole
program carried out by joint venture partner Minera Hochschild Mexico, SA de CV
at its Baborigame project in southwestern Chihuahua state, Mexico.
All holes were drilled in the northern Cebollas target area from readily
accessible existing forestry roads, and all holes exhibit encouraging gold
values of varying grade and length as reported in Table 1 and shown in Figure 1.
Permitting of new roads and drill pads for the high priority diamond drill
targets in the southern part of the claim along the southeast extension of the
largest vein in the district (Diente de Oso), has suffered excessive delays.
Delays over the past 6 months lie entirely with the new SEMARNAT (Mexican
environmental agency) administration in the state of Chihuahua. The delay in the
permit resolution combined with the recent sharp drop in precious metal prices,
which has caused many producers to cancel exploration, led Hochschild to suspend
further drilling and return the property to Prospero. The permit delay
represents a very unfortunate situation in that some of the best geochemical
targets in the rhyolite unit are located in topographicaly difficult positions
and remain unexplored for lack of timely road building and diamond drilling
which was expected to add considerable structural and geologic information.
President Tawn Albinson, stated: "We are pleased to have worked with Hochschild
over the past year. Baborigame has been advanced cost-effectively with refined
targets that warrant follow-up drilling. In addition, several high priority
drill targets have yet to be tested. We anticipate permits to complete shortly
and we look forward to unlocking the potential of this property through
exploration with a new joint venture partner."
The following table lists the gold-silver bearing intervals of the RC holes. All
holes host mineralization, ranging from vein-hosted intersections (such as
RCBA13-15 with 3.0 meters of 3.01 g/t Au and 234.0 g/t Ag) to broad
veinlet/stockwork zones (such as RCBA-13-03 with 33.0 meters of 0.33 g/t Au and
14.5 g/t Ag).
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FROM WIDTH Au Ag
RC HOLE TARGET (m) TO (m) (m)(i) (g/t) (g/t) Description
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Cebollas
RCBA-13-01 south 120.00 157.50 37.5 0.106 0.8 Andesite-veinlets
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Cebollas
RCBA-13-02 south 0.00 12.00 12.0 0.85 0.8 Rhyolite-veinlets
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and 36.00 76.5 40.5 0.10 1.2 Rhyolite-veinlets
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RCBA-13-03 Cebollas west 0.00 33.00 33.00 0.33 14.5 Rhyolite-veinlets
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58.50 70.5 12.00 0.12 1.1 Fault zone
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Cebollas
RCBA-13-04 central 78.00 82.50 4.50 0.11 2.9 Andesite-veinlets
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and 243.00 252.00 9.00 1.04 22.3 Andesite-veinlets
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RCBA-13-05 Sucara north 48.00 49.50 1.50 0.15 2.0 Andesites
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and 58.50 64.50 6.00 0.10 3.5 Andesite-veinlets
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RCBA-13-06 Sucara south 55.50 58.5 3.00 0.17 6.0 Fault zone
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and 90.00 93.00 3.00 0.12 21.9 Andesite-veinlets
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and 220.5 234.00 13.50 0.22 8.8 Fault-veining
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RCBA-13-07 Cebollas mine 27.00 78.00 51.00 0.20 6.0 Rhyolite-veinlets
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Cebollas
RCBA-13-08 north 19.50 69.00 49.50 0.13 10.1 Andesite-veinlets
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and 171.00 226.50 55.50 0.03 13.7 Rhyolite-veinlets
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Cebollas
RCBA-13-09 central 111.00 123.00 12.00 0.20 7.2 Andesite-veinlets
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Cebollas
RCBA-13-10 central 45.00 48.00 3.00 0.38 21.4 Quartz vein
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Cebollas
RCBA-13-11 central 4.50 52.50 48.00 0.22 6.5 Andesite-veinlets
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Cebollas
RCBA-13-12 north 18.00 24.00 6.00 0.19 2.2 Fault zone
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and 77.00 84.00 7.50 0.22 2.1 Fault zone
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and 264.00 268.50 4.50 0.77 4.3 Andesite-veinlets
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Cebollas
RCBA-13-13 north 51.00 54.00 3.00 0.22 6.7 Fault zone-vnlts
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Cebollas
RCBA-13-14 north 15.00 19.50 4.50 0.51 13.2 Andesite-veinlets
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and 70.50 82.50 12.00 0.70 25.8 Andesite-veinlets
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and 97.50 106.50 9.00 0.28 3.8 Fault zone-vnlts
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Rhyolite-
and 252.00 271.50 19.50 0.30 6.9 silicified
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RCBA-13-15 Cebollas west 3.00 67.50 64.50 0.26 12.2 Rhyolite-veinlets
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and 171.00 174.00 3.00 3.01 234.5 Quartz vein
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and 192.00 196.50 4.50 0.20 25.3 Andesite-veinlets
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RCBA-13-16 Cebollas west 10.50 37.50 27.00 0.11 11.2 Rhyolite-veinlets
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(i)Drill hole information is insufficient to establish reliable true widths
As predicted by the surface sampling and geology, RC drilling of the zones shows
disseminated mineralization hosted within the upper rhyolite pyroclastic
flow/tuff, which outcrops and underlies most of the Cebollas area. The andesitic
unit below the rhyolites also hosts mineralization over significant lengths in
holes RCBA13-11 (48.0 meters of 0.22 g/t Au, and 6.5 g/t Ag) and RCBA-13-14 (12
meters of 0.70 g/t Au, 25.8 g/t Ag).The rhyolite unit is conspicuously
fractured, shattered and brecciated over broad areas (15,000 to 125,000 m2) in
surface outcrops.
Reconnaissance channel samples obtained in outcrops indicate fraction of a gram
to multi-gram level anomalies are common particularly along the basal portion of
the rhyolite over widths of several tens of meters. In the RC holes that did
penetrate the base of the unit mineralization occurs over significant
intersections such as RCBA-13-07 (51.0 meters of 0.20 g/t Au, 6.0 g/t Ag), and
RCBA-13-15 (64.5 meters of 0.26 g/t Au, 12.2 g/t Ag).
Based on these results the Company will conduct semi-systematic continuous
surface channel samples to better define the size and grade of the outcropping
mineralization, and guide the best location for diamond drilling with a
semi-portable rig that can be positioned in the more inaccessible pad locations.
The Cebollas vein/structure is 2.5 kilometers long and has only been explored at
the location of 3 drill holes: RCBA13-15 (3 meters of 3.0 g/t Au, 234 g/t Ag),
RCBA13-10 (1.5 meters of 0.38 g/t Au, 21.4 g/t Ag), and DDH PBAB-13 (5.5 meters
of 0.41 g/t Au - from the 2010 drill campaign). The 2013 RC drill program was
focused towards bulk tonnage targets. Future drilling will also focus on further
testing the Cebollas vein.
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 press
release. The samples were analyzed by ALS Chemex, but the following methods,
gold by AA-24 (with a lower limit of detection of 0.005 ppm), and silver by
ME-ICP61 (with a lower limit of detection of 0.5 ppm). Each reverse circulation
sample consisted of 8-15 kilograms of material, was bagged in micropore bags and
shipped directly to sample preparation lab of ALS Chemex located in Chihuahua
City.
About Prospero Silver Corp.:
Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV
(Fumarola). Prospero's objective is to quickly evaluate the properties currently
optioned for their suitability to provide size potential and/or amenability for
strategic joint ventures.
Cautionary Statement:
This news release contains forward-looking statements within the meaning of the
Canadian provincial securities laws that are not historical facts.
Forward-looking statements involve risks, uncertainties and other factors that
could cause actual results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking statements,
including statements regarding future exploration plans. Factors that could
cause actual results to differ materially from these forward-looking statements
include, but are not limited to, variations in the nature, quality and quantity
of any mineral deposits that may be located, the Company's inability to obtain
any necessary permits, consents or authorizations required for its planned
activities, and the Company's inability to raise the necessary capital or to be
fully able to implement its business strategies. The reader is referred to the
Company's public disclosure record which is available on SEDAR (www.sedar.com),
including the risk factors discussed in Prospero's November 27, 2009 prospectus.
Although Prospero believes that the assumptions and factors used in preparing
the forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. Except as required by securities laws and the
policies of the TSX Venture Exchange, Prospero disclaims any intention or
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
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.
To view the map associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/prospero_silver_map01_aug20.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Prospero Silver Corp.
William Murray
Chairman
(604) 288-7813
Contact Financial
Kirk Gamley
(604) 561-3642
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