Prospero Begins Drilling at Matorral Project, Durango, Mexico
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VANCOUVER, B.C., June22, 2017(GLOBE NEWSWIRE) -- Prospero Silver Corp (TSX-V:PSL.V) (the "Company" or "Prospero") is pleased to announce that drilling has started at the Matorral project in in the Santa Maria del Oro camp, Durango State, Mexico.
The drilling is part of a planned 6,900m program to test 3 of Prospero's projects under the terms of the recent strategic investment from Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI). Prospero is planning to drill four holes at Matorral project, followed by eight holes at its Petate project, and then by eight holes at Pachuca SE (see Prospero news release dated May 30, 2017). 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.
The first hole at Matorral is currently at a depth of roughly 150m from a planned final depth of 400-450m. The hole has been laid out to pin the dip of what is believed to be the controlling structure on potential mineralization at depth. The Matorral target, with over 7km of prospective structures, is one of two areas on the 9,066 hectare Santa Maria del Oro claims. Prospero's sampling has returned silver values from trace up to 460g/t Ag at surface. More detailed geological information on Matorral is available on Prospero's website at http://www.prosperosilver.com/s/Santa-Maria-del-Oro.asp.
Qualified Person
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.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's proposed use of the financing proceeds. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise the additional funds in the future to continue to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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.
For further information please contact: Ralph Rushton Exec VP Business Development Tel:604 307 0055 William Murray Chairman Tel: 604 288 2553