Dec 13 2010
Prospero Silver Corp. (TSX VENTURE:PSL) has reported the results of the last 10 core holes (DOR-10-07 to DOR-10-16) of Phase 1 drilling at its El Dorado project in coastal Nayarit state, Mexico.
Seven of these holes targeted the historic Hundido mine area. Drill hole DOR-10-11 intersected 16.17 meters of 4.03 g/t Au, 204 g/t Ag, 4.0% Pb, and 1.75% Zn; and DOR-10-10 intersected 2.32 meters of 6.04 g/t Au and 140 g/t Ag. The range of widths and grades of the holes within the central portion of the Hundido mine area (DOR-10-3, DOR-10-5, DOR-10-7, DOR-10-10, DOR-10-11, DOR-10-13, DOR-10-14) range from 1.45 meters to 11.22 meters (true width); and gold equivalent grades from 3.9 to 13.9 g/t.
In the Hundido mine area, holes DOR-10-07 to DOR-10-10 are located within the confines of the old mine, whereas holes DOR-10-11, DOR-10-13, and DOR-10-14 were drilled under the old mine. A mineralized zone approximately 100 meters long, and 120 meters deep is indicated by holes DOR-10-03, 05, 07, 11, 13 and 14, and is open at greater depth and to the south west.
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.
Three holes within the area of influence of the old mine (DOR-10-3, DOR-10-7, and DOR-10-10) intersected stope fill or voids (ie presence of old stopes) adjacent to the reported intersections.
Three holes were drilled along the northeast extension of the Dorado vein (DOR-10-12, DOR-10-15, and DOR-10-16) which encountered low grades and narrower vein intersections. The increasing thickness of the upper rhyolites with high level argillic alteration in drill holes DOR-10-15 and DOR-10-16 suggests a greater degree of post-mineral tilting of the Dorado NE sector and a higher stratigraphic position and geologic level with respect to the Hundido mine area, thus requiring longer drill holes to reach possible mineralization.
A phase 2 drill program will include additional drilling to expand the Hundido mineralized zone, especially at depth and to the south west where the zone remains open with greater widths and robust mineralization. Additional targets, including the Ureña and Las Pilas veins, will also be drilled.
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. Gold equivalent grades assume 100% recovery. Metallurgical studies will be required to determine actual recoveries.
Source: Prospero Silver Corp.