SYS-CON MEDIA Authors: Xenia von Wedel, Peter Silva, Glenn Rossman, Ava Smith, Elizabeth White

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
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
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 move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
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...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.