Prospero Drills 3.04 Meters of 40 g/t Au, 530 g/t Ag at El Dorado Project, Nayarit
June 22 2011 - 9:01AM
Marketwired
Prospero Silver Corp. (TSX VENTURE: PSL) (the "Company") is pleased
to report the results of 2,224.8 meters (12 holes) of Phase 2
drilling at its El Dorado project in coastal Nayarit state, Mexico.
The Hundido mine veins and Las Pilas vein were the targets for this
phase. Highlights include DOR-11-19, which intersected the
Intermedia vein with 3.04 meters (true width) of 40 g/t Au and 530
g/t Ag; and DOR-11-24, which intersected 0.50 meters (true width)
of 290 g/t Ag, 2.1% Pb, and 2.7% Zn.
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Au
TRUE (i)
DRILL VEIN WIDTH WIDTH Au Ag Pb Zn Eq.
HOLE TARGET FROM TO (m) (m) g/t g/t % % g/t
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DOR-11-17 El Hundido- 183.65 197.28 13.63 13.22 0.29 18.0 0.28 0.38 0.6
Intermedia
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including El Hundido- 188.78 190.08 1.30 1.26 0.50 57.0 0.14 0.25 1.5
Intermedia
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DOR-11-18 El Hundido- 350.6 352.75 2.15 1.17 - - - -
Intermedia
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DOR-11-19 La Negra 56.20 57.95 1.75 void
stope
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Intermedia 74.60 84.60 10.00 7.31 16.80 238.0 0.19 0.56 21.2
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including Intermedia 74.60 78.76 4.16 3.04 40.00 530.0 0.39 1.23 49.8
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DOR-11-20 El Hundido 93.25 104.15 10.90 4.78 0.86 62.0 0.36 0.30 2.0
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including El Hundido 99.08 103.70 4.62 2.02 1.16 103.0 0.70 0.40 3.0
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DOR-11-25 El Hundido 86.1 99.90 13.80 8.68 0.22 16.0 0.20 0.56 0.5
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DOR-11-26 Intermedia 157.65 159.65 2.00 1.28 3.50 10.0 0.03 0.05 3.6
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and Intermedia 165.65 171.40 5.75 3.54 0.15 7.4 0.14 0.04 0.2
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DOR-11-27 La Negra 185.77 190.70 4.93 3.23 0.05 10.0 0.18 0.35 0.2
Intermedia
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including La Negra 188.27 188.82 0.55 0.36 0.14 31.0 0.68 1.75 0.7
Intermedia
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DOR-11-28 El Hundido 234.65 240.50 5.85 4.35 0.11 8.0 0.04 0.09 0.2
west zone
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DOR-11-21 Las Pilas 58.73 60.30 1.87 1.37 0.07 52.0 0.02 0.02 1.0
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DOR-11-22 Las Pilas 70.15 87.71 17.56 14.56 - - - -
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DOR-11-23 Las Pilas 91.74 101.07 9.33 8.16 - 53.0 0.03 0.06 0.9
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DOR-11-24 Las Pilas 144.85 163.12 18.27 9.68 0.10 35.0 0.32 0.22 0.7
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including Las Pilas 158.60 159.72 1.12 0.59 0.10 290.0 2.13 2.72 5.5
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(i) Gold and silver metal prices used to calculate the gold equivalent
values were $1340 USD/oz Au and $25 USD/oz Ag (silver to gold ratio of
53.6). Lead and zinc values were omitted from the calculation of gold
equivalent values. Au Eq values assume 100% recoveries but metallurgical
studies and test processing is required to determine actual recoveries
All holes drilled to date in the Hundido mineralized zone are
shown on the attached longitudinal section of the El Dorado vein.
The mineralized zone is 400 meters long and extends up to 180
meters at depth. Within the mineralized zone grades range from 3.0
to 40.0 g/t Au and 57 to 500 g/t Ag over true widths that range
from 0.52 meters to 11.2 meters. There are sufficient drill holes
within this area to allow calculation of a preliminary resource.
The deeper drill holes (DOR-11-17, DOR-11-18, DOR-11-26 and
DOR-11-27) suggest the mineralized zone does not exhibit immediate
continuity at depth. Closure of this mineralized zone appears to
coincide with roll-over of the veins from a northerly dip to a
steep southerly dip. Deeper drilling is required to investigate if
additional productive mineralized zones occur at greater depth, in
particular below hole DOR-10-6 where there is space for a feeder
zone in the area in between the El Hundido and El Dorado mines (see
attached longitudinal section).
Three shallow holes (DOR-11-21 to DOR-11-23) and one deeper hole
(DOR-11-24) were drilled into the Las Pilas vein located 4.0
kilometers to the southeast of the El Dorado vein. Width and grade
appear to be increasing with depth in hole DOR-11-24 which
intersected the vein 75 vertical meters below DOR-11-23, and 200
vertical meters below the surface. Deeper drilling is required to
confirm this trend.
Tawn Albinson, M.Sc., the 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 and quality assurance
of the exploration data and analytical results.
Quality Control
Prospero has a quality control program to ensure best practices
in the sampling and analysis of all drill core. Samples were
collected by Company employees and are shipped directly in sealed
bags to ALS-Chemex Laboratory preparation facilities in
Guadalajara, Hermosillo or Chihuahua City (Certification ISO 9001).
Samples shipped also include intermittent standards and blanks.
Sample pulps are shipped from there to ALS-Chemex Laboratories in
North Vancouver, B.C. for further analysis. All samples were
assayed by multielemental ME-ICP41, and gold by ICP21 which
consists of a 30 gram fire assay with an ICP-AES finish. Gold
values in excess of 10 g/t were re-analysed by a 30 gram fire assay
and a gravimetric finish (Code Au-GRAD21). Silver, lead, zinc and
copper values in excess of 100 ppm, 1%, 1% and 1% respectively were
repeated with agua regia digestion and with ICP-AES (Inductively
Induced Plasma-Atomic Emission Spectroscopy) finish (Code
OG46).
To view the map accompanying this press release please click on
the following link:
http://media3.marketwire.com/docs/PSL0622.pdf
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 also their amenability to
early production on all or part of an ore body.
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.
Contacts: Contact Financial Peter Murray 1(604) 689-7422
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