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Prospero discovers new gold and silver vein system

Prospero Silver’s (CN:PSL) “proof of concept” drilling has discovered a new gold and silver-bearing epithermal vein system at its Pachuca SE project in Mexico.
Prospero discovers new gold and silver vein system Prospero discovers new gold and silver vein system Prospero discovers new gold and silver vein system Prospero discovers new gold and silver vein system Prospero discovers new gold and silver vein system

The project is near the mining city of Pachuca

Staff reporter

The drilling completed the three initial projects funded by Fortuna Silver Mines' (US:FSM) US$1.2 million strategic investment announced in April 2017 to test Prospero CEO Tawn Albinson's blind discoveries hypothesis.

"Although the current drill programme is limited to 3 holes, we've cut new vein systems within 25km of one of the world's great silver-gold districts, the Pachuca-Real Del Monte system, which produced over 1.2 billion ounces of silver," Albinson said.

"The intercepts, which include 1.35m at 227g/t silver between 147.4m and 148.8m in hole 1, demonstrate that the negligible silver and gold anomalies we noted in the surface alteration are related to a potentially significant epithermal vein system at depth."

Additional samples are being processed and the company said more drilling was warranted.

Prospero had C$1.67 million (US$1.29 million) in working capital at the end of September.

Fortuna has the right to select one of Prospero's projects for a joint venture and can earn a staged 70% interest by spending US$8 million over six years and completing a preliminary economic analysis.

Prospero shares have ranged between C10-34c and last traded at 13.5c, capitalising it at $4.1 million.