SYS-CON MEDIA Authors: Elizabeth White, Yeshim Deniz, Pat Romanski, Nikita Ivanov, Sean Houghton

News Feed Item

Prospero Receives San Luis del Cordero Project Back from Silver Standard After 5,135m of Diamond Drilling

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") announces that Silver Standard Resources Inc. ("Silver Standard") has decided not to proceed to the second year of drilling/evaluation pursuant to an option to joint venture agreement entered into in March 2013. Silver Standard completed a 15-hole 5,135 meter diamond drill program the results of which were provided in a news release dated March 3, 2014.

Before drilling, Silver Standard completed an IP survey and rock geochemistry over the project in Q3 2013. This survey identified three new areas of geophysical interest in the eastern La Puerta and India Bonita target zones. The diamond drilling program mounted in Q4 2013 and Q1 2014 was directed at these new targets as well as testing previously drilled areas which had carried encouraging results.

The targets, which had previous work, include:


--  The extension to depth of the old Santa Rosa mine of the approx. 600g/t
    silver found in earlier drilling; 
--  The extension to the northwest of the Santa Rosa trend; 
--  A deep chargeability anomaly under the limestone plateau located in the
    western zone, and 
--  The extension to the east of the Santa Rosa East skarn zone.  

Tawn Albinson, Prospero's Mexico City based President/CEO, said, "In discussions with the Silver Standard team at PDAC they noted that their goal was to identify the potential for 100 million ounces of silver. Evidently review of all the data has led them to conclude this first phase of drilling did not meet that expectation."

The drilling results from the 15-hole program are found below and shown on the attached surface map of the central portion of the San Luis del Cordero project.

Albinson notes, "Silver Standard was not encouraged to pursue further the high grade material in the Santa Rosa vein because of low tonnage potential. The focus ended up on the skarns in the Santa Rosa East skarn and a continuation of this contact." He added, "Cordero has seen an aggregate of 10,400 metres of drilling since 2007 which could allow calculation of a preliminary resource using an external Qualified Person. While the results Silver Standard turned up did not support the size potential they seek, Prospero firmly believes a still sizeable amount of ounces can be defined in the lower grade areas of the skarns and potentially a small standalone operation in the higher grade Santa Rosa area- or a combination of the two."

Prospero will continue to seek JV partners for Cordero for the silver potential and, in addition, explore further the deeper copper potential, which has been identified by other potential JV partners.

Discussion of results

The Santa Rosa vein and the Santa Rosa East skarn zones dip steeply to the south towards the shoulder of the intrusive body, which appears, in general, to dip to the north. The deeper holes drilled under the Santa Rosa vein (hole SSLC-13-20 and SSLC-14-31), and the Santa Rosa East skarn (hole SSLC-14-32) encountered mostly intrusive phases and multiple dikes that are related to a complex intrusive/sediment contact zone. The deeper holes encountered some weakly mineralized quartz and calcite veins, which are likely a late vein-forming event. The position of the deeper feeder zones of the Santa Rosa vein and the blind-to-surface Santa Rosa East skarn remain uncertain, and could be controlled by the north dipping intrusive/sediment contact zone. In this case it would be necessary to test the as yet unexplored deeper extension of this contact zone with drill holes directed from north to south rather than from south to north (which is the direction in which most holes have been drilled to date).

Hole SSLC-13-28 was drilled under alluvium covered ground to the north of La Puerta zone to investigate an IP anomaly. This hole encountered multiple quartz porphyry dikes and skarn and quartz veins with an intersection 24 meters in length with a grade of 20 g/t Ag 0.29% Cu, and 0.92% Zn. It indicates the porphyritic dikes and skarn mineralization persist further north than previously mapped at the surface.

Hole SSLC-13-30 was drilled towards the south to test the large La Puerta skarn (700 meters long, 130 meters wide) and also encountered quartz porphyry dikes and vein zones with significant silver values (62 to 72 g/t Ag). The skarn was not reached indicating it dips stepper than anticipated. Drill holes positioned closer to the skarn will be required to test La Puerta target at depth.

Most of the known mineralization in the San Luis Cordero project occurs along a horseshoe shaped zone that wraps around a sizable intrusive body 2.5 km long and approx. 1.5 km wide. Drilling to date has focused on the 2.5 km long northern border of the intrusive. The full length (1.5 kms) of the south-eastern flank of the intrusive body (from the Canal Zone in the SW to the La Puerta skarn to the NE) remains unexplored (see attached diagram) and has the potential to host Santa Rosa East skarn type ore bodies in the closer to surface environment, as well as for deeper skarn and/or porphyry style mineralization. Highly differentiated intrusive phases, including a broad swarm of quartz feldspar porphyry dikes and both prograde and retrograde stages of primarily silver-copper mineralization occurring close to the intrusive/sediment contact zone, all indicate a favorable environment to identify new mineralized zones.

Prospero drilled PSLC-17 in 2011 in the zinc rich "Canal zone". The intersection was 4.29 meters of 11.5% Zn, 96 g/t Ag and 0.4% Cu and no holes were drilled in this recent program. As noted above, all subsequent drill efforts focused on the northern border of the intrusive body.

The geologic level of the San Luis del Cordero porphyritic intrusives, skarns and veins remains high when compared to copper-rich skarn/porphyry deposits in Mexico. Exploration for potential deeper and more sizable copper-dominant mineralization will require deeper focused drilling.


----------------------------------------------------------------------------
                                                                            
                                             WIDTH                          
DDH        VEIN TARGET       FROM      TO (mts)(i) Ag g/t        Cu %   Zn %
----------------------------------------------------------------------------
SSLC-13-20 Sta. Rosa vein  270.90  273.35     2.45     No significant values
----------------------------------------------------------------------------
           Sta. Rosa E                                                      
SSLC-13-21  skarn          137.45  157.15    19.70  142.4        0.68   1.09
----------------------------------------------------------------------------
including                  141.00  144.05     3.05  386.0        0.53   1.39
----------------------------------------------------------------------------
SSLC-13-22 Sta. Rosa vein  172.35  177.95     5.60  196.4        0.16   0.36
----------------------------------------------------------------------------
including                  172.35  173.85     1.50  433.0        0.32   0.56
----------------------------------------------------------------------------
SSLC-13-23 Sta. Rosa vein  138.90  141.00     2.10  544.0        1.02   6.57
----------------------------------------------------------------------------
including                  139.90  141.00     1.10  834.0        1.74  10.45
----------------------------------------------------------------------------
           Santa Rosa                                                       
SSLC-13-24  vein?           11.08   12.10     1.02  115.0        0.14   0.98
----------------------------------------------------------------------------
           Sta. Rosa E                                                      
SSLC-14-33  skarn          196.55  198.45     1.90  275.0        1.44   1.15
----------------------------------------------------------------------------
including                  197.05  197.65     0.60  843.0        4.16   1.51
----------------------------------------------------------------------------
and        Skarn           144.32  147.45     3.13   23.9        0.45   1.16
----------------------------------------------------------------------------
           Sta. Rosa E                                                      
SSLC-14-34  skarn          137.30  139.70     2.40  185.0        2.09   1.82
----------------------------------------------------------------------------
including                  137.30  137.85     0.55 1020.0        6.59   0.23
----------------------------------------------------------------------------
           India Bonita IP                                                  
SSLC-13-25  anomaly        145.50  147.00     1.50  110.0        0.07   0.10
----------------------------------------------------------------------------
           India Bonita IP                                                  
SSLC-13-26  anomaly        248.87  251.95     3.08   16.5        ----   0.53
----------------------------------------------------------------------------
                                                                            
                                             WIDTH                          
DDH        VEIN TARGET       FROM      TO (mts)(i) Ag g/t        Cu %   Zn %
----------------------------------------------------------------------------
           Western deep IP                                                  
SSLC-13-27  anomaly                                    no significant values
----------------------------------------------------------------------------
           La Puerta north                                                  
SSLC-13-28  IP anomaly     381.25  383.65     2.40   37.8        0.92   0.75
----------------------------------------------------------------------------
           Skarn & quartz                                                   
and         veins          452.05  476.15    24.10   20.5        0.29   0.92
----------------------------------------------------------------------------
including  " "             455.02  456.25     1.23   54.3        0.85   3.08
----------------------------------------------------------------------------
including  " "             467.40  470.05     2.65   48.5        0.80   2.83
----------------------------------------------------------------------------
           Western deep IP                                                  
SSLC-13-29  anomaly                                    no significant values
----------------------------------------------------------------------------
           La Puerta                                                        
SSLC-13-30  dikes-veins    236.00  236.90     0.90   72.5        0.02   0.04
----------------------------------------------------------------------------
and        " "             244.70  250.90     6.20   67.0        0.03   0.05
----------------------------------------------------------------------------
and        " "             270.70  271.90     1.20   62.5        0.07   0.14
----------------------------------------------------------------------------
           Santa Rosa                                                       
SSLC-13-31  vein?          215.00  216.55     1.55  104.0        0.82   0.14
----------------------------------------------------------------------------
and                        220.60  222.65     2.05   38.9        0.08   0.22
----------------------------------------------------------------------------
SSLC-14-32 Skarn           205.20  206.35     1.15   44.3        0.21   0.31
----------------------------------------------------------------------------
           Sta Rosa E                                                       
and         Skarn?         350.75  352.15     1.40   22.7        0.68   0.02
----------------------------------------------------------------------------
and        " "             359.10  359.85     0.75   21.5        0.34   0.01
----------------------------------------------------------------------------

--  Widths represent intersected lengths. It is estimated most widths are
    within 70% of true widths. True widths will be reported at a later date
    once drill hole cross sections are interpreted. 

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 press release. A quality control program is adopted to ensure best practices in the sampling and analysis of drill core. Samples are shipped in sealed bags to ALS-Chemex Laboratory preparation facilities in Chihuahua City (ISO 9001). Shipments include intermittent standards and blanks. Sample pulps are shipped to ALS-Chemex Laboratories in North Vancouver, B.C. for analysis. All samples were assayed by multielemental ME-ICP41, and gold by ICP21 (Inductively Induced Plasma-Atomic Emission Spectroscopy) which consists of a 30 gram fire assay with an ICP-AES finish. Silver, lead, zinc and copper values in excess of 100 ppm, 1%, 1%, and 1% respectively were repeated with aqua regia digestion and with ICP-AES (Code OG46).

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 MineraFumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned for their suitability to provide size potential and/or amenability for strategic joint ventures.

Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the closing of a non-brokered Private Placement. 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. 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 reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors discussed in Prospero's November 27, 2009 prospectus. 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 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.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Prospero_Silver_Corp_Map.pdf.

Contacts:
Prospero Silver Corp.
William Murray
Chairman
(604) 288-7813

Prospero Silver Corp.
Kirk Gamley
Contact Financial
(604) 561-3642

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...