|November 01, 2010|
Prospero Drills 2.83 Meters of 7.24 G/T Au, 103 G/T Ag at El Dorado Project, Nayarit
Vancouver, B.C. - Prospero Silver Corp (TSXV: PSL) the "Company" is pleased to report 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.
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 Minera Fumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned and focus on bringing one into early production. Priority will be given to high grade gold or silver projects.
This news release contains forward-looking statements within the meaning of the Canadian provincial securities laws that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding future exploration plans. 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 public disclosure record which is available on SEDAR (www.sedar.com), including the risk factors discussed in Prospero's November 27, 2009 prospectus. Although Prospero believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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 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.
You can view the Next News Releases item: Fri Dec 10, 2010, PROSPERO INTERSECTS 16.17 METERS OF 4.03 g/t Au, 204 g/t Ag, 4% Pb including 8.15 meters of 5.0 g/t Au, 223 g/t Ag, 7.6% Pb AT EL DORADO PROJECT, NAYARIT
You can view the Previous News Releases item: Wed Oct 20, 2010, Prospero Signs Deal for Additional Claims, and Stakes Additional Ground in El Dorado Project, Nayarit State
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