VANCOUVER, Sept. 3, 2019 /CNW/ - PRIZE MINING
CORPORATION ("Prize" or the "Company") (TSXV:PRZ)
(OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce assay
results from the Phase 2 surface sampling program on its Manto
Negro Copper-Silver Project in Coahuila State, Mexico.
Mapping and sampling over the past several months has focused on
extending the known areas of mineralization and identifying targets
for the next phase of diamond drilling over a 20 plus kilometre
mineralized horizon on surface. With channel sample grades as
high as 3.86 percent copper and 44 grams per tonne silver over 1. 3
metres and chip samples as high as 29.3 percent copper and 958
grams per tonne silver, this work has confirmed the extent and
potential of the property. Exploration has also continued to
characterize Manto Negro as belonging to the category of 'red-bed
type' copper deposits, similar in style to the world class deposits
of the Central African Copper Belt and the Kupferschiefer
in Poland.
"Our sampling continues to demonstrate consistent high copper
and silver grades on surface over a multi-kilometre area
" stated Michael McPhie, President and CEO of Prize
Mining. "These results are a follow up to our successful
Phase 1 diamond drilling program completed earlier this year.
Results of the current work have been as expected and continue to
confirm the district-scale potential of the Manto Negro
Project. The information gathered is to be used to define
targets for a pending Phase 2 drilling program."
The main focus of sampling in the initial Phase 2 program was on
the Apache, San Jose and La Curvas concessions owned by Prize where
strong copper mineralization is exposed on surface.
Mineralization is hosted in the San Marcos red-bed sandstone close
to the contact with the overlying Cupido limestone. A total
of 40 samples were submitted for analysis including 26 chip and
channel samples collected across the widths of the exposed
mineralized beds.
Highlights from this work include:
i. Apache Concession
The Apache concession is the largest within the Manto Negro
project area spanning approximately 16 kilometres on the eastern
side of the property. A total of 25 samples were taken from
14 exposed workings and historic artisanal mining areas (Apache
1-14). Highlights include the following channel samples:
- 3.86% Cu and 44 g/t Ag over 1.3 metres
- 2.62% Cu and 58 g/t Ag over 1.2 metres
- 2.31% Cu and 28 g/t AG over 1.8 metres
And chip samples along the Apache trend demonstrated consistent
high grade results including:
- 13.9% Cu and 605 g/t Ag at Apache 1
- 29.3% Cu and 958 g/t Ag at Apache 6
- 10.8% Cu and 583 g/t Ag at Apache 8
- 14% Cu and 518 g/t Ag at Apache 9
- 7.7% Cu and 190 g/t Ag at Apache 10
- 15.1% Cu and 759 g/t Ag at Apache 14
ii. San Jose Concession
7 samples were taken from mineralized beds and workings in this
area. The best channel sample returned an assay of 2.3% Cu
and 28 g/t Ag over 1.8 metres, with chip samples from old dumps and
mine workings over a several hundred metre area returning:
- 17.1% Cu and 1689 g/t Ag
- 8.05% Cu and 425 g/t Ag
- Several over limit samples grading above 30% Cu
iii. Las Curvas Concession
8 samples were taken from mineralized beds and workings in this
area. The best channel sample returned 2.5% Cu and 33 g/t Ag
over 2 metres with chip samples at old dumps and mine workings over
a several hundred metre area returning:
- 9.65% Cu and 206 g/t Ag
- 23% Cu and 710 g/t Ag
- 19.3% Cu and 633 g/t Ag
- 18.4% Cu and 574 g/t Ag
All samples are chip channel samples and the composites reported
above are weighted averages.
A map showing the location of the samples and the Manto Property
area and complete table of assay and sample results can be viewed
here:
https://mk0prizemining7a5ukx.kinstacdn.com/wp-content/uploads/2019/09/2019-09-03-Map-and-Table.pdf
Sampling QA/QC and Analysis
The Company follows a rigorous Quality Assurance/Quality Control
program over the chain-of-custody of samples with the insertion of
blanks and duplicates into the sample stream submitted to the
laboratory for analysis. Sample preparation took place at the
SGS facility in Durango, Mexico.
All samples were analyzed utilizing SGS' 34 element four-acid
digestion package (GE-ICP40). Samples with over detection
silver were re-run by fire assay (GO_FAG313), with overrun copper
reanalyzed using a sodium peroxide fusion (GO_ICP90Q).
Jarrod Brown, P.Geo., of
TerraLogic, a Qualified Person under NI 43-101, is the Company's
nominated qualified person responsible for monitoring the
supervision and quality control of the programs completed on the
Company's properties. Mr. Brown has approved and verified the
scientific and technical information in this news release.
About Prize Mining Corp.
Prize is a junior mining issuer listed on the TSX Venture
Exchange. Prize is focused on the exploration and development
of the Manto Negro Copper Property in Mexico and the Kena Gold Property in BC.
On August 22, 2019 shareholders
approved a change of name for Prize to Boundary Gold and
Copper Mining Ltd. The Company is waiting on final
approval for the name change from the TSX-V and, once received,
will implement a rebranding and marketing program for the
company. Find out more at: www.prizemining.com
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Reader Advisory
Forward-Looking Statements. This news release contains
forward-looking statements. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate",
"scheduled", "potential", or other similar words, or statements
that certain events or conditions "may", "should" or "could"
occur.
The forward-looking statements are based on certain key
expectations and assumptions made by Prize, including the assay
results of the 2018 diamond drilling program on Prize's Manto Negro
Property. Although Prize believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because Prize can give no assurance that
they will prove to be correct. There is no assurance that the
result of these exploration programs will be successful.
Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks.
These include, but are not limited to, exploration
risks and that required regulatory and third-party
approvals and consents are not obtained on terms satisfactory to
the parties within the timelines provided.
The reader is cautioned that assumptions used in the preparation
of such information, although considered reasonable by the Company
at the time of preparation, may prove to be incorrect and readers
are cautioned not to place undue reliance on forward-looking
information, which speaks only as of the date hereof. The
Company does not undertake any obligation to release publicly any
revisions to forward-looking information contained herein to
reflect events or circumstances that occur after the date hereof or
to reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws.
Neither the 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.
SOURCE Prize Mining Corporation
