Nov 2 2010
Prospero Silver Corp. (TSX VENTURE:PSL) has reported the results of the first 6 holes of Phase 1 drilling at its El Dorado project in coastal Nayarit state, Mexico.
Both the historic Dorado and Hundido mine areas were the targets for the initial drill holes. Highlights include DOR-10-3 which intersected 2.83 meters of 7.24 g/t Au and 103 g/t Ag; and DOR-10-05 which intersected 2.95 meters of 5.0 g/t Au and 117 g/t Ag. In the Hundido mine area broad veining in both the hangingwall and footwall of the vein exhibit significant widths of lower grade gold and silver as indicated in DOR-10-03 which contains 25.2 meters with 1.27 g/t Au and 30.4 g/t Ag.
Hole DOR-10-04 intersected 3.2 meters of stope fill from 40.60 to 43.80 meters suggesting the main vein was mined out at this location. Hole DOR-10-01 intersected a number of base-metal rich veins in the footwall zone of El Dorado vein, which carry lower precious metal values. Deeper drilling is necessary in El Dorado zone to make estimates of some true widths. Some voids have been encountered in the shallow portion of the old mine. The 1.51 meters void reported in hole DOR-10-03 appears to be a mined out stope in old workings that possibly represent higher grade material mined in the early 20th century.
The results to date indicate the presence of robust veining with elevated precious metal values. The Hundido mineralized area shows promise and further, in progress, drilling at depth could develop a significant zone of mineralization. The location of the completed and proposed drill holes on the longitudinal section of El Dorado vein are shown in the attached diagram.
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.
Source: Prospero Silver Corp.