|October 25, 2011|
Prospero Silver Commences Drilling at Campana Project, Mexico
|Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero" or the "Company") announced today that a diamond drilling rig has been mobilized to site and that drilling is underway at the 100% owned Campana project in Central Durango State, Mexico. As reported in the News Release of August 29, 2011, drilling is focussed to the east of historic drilling which was conducted on the northwest fringe of a 1400m x 900m geophysical anomaly defined by both an airborne Z-TEM survey (z-Axis Electromagnetic System) and an IP (Induced Polarization) ground survey. |
Chargeability and resistivity anomalies indicate that 75% of the anomaly remains unexplored to the east of historic drill holes where disseminated gold-bearing polymetallic mineralization occurs over lengths of up to 330m. Highlights of intersections of disseminated mineralization from the historic drilling include hole CAM-08 with 165 m of 0.16 g/t Au, 15 g/t Ag; and hole CAM-12 averaging 0.223 g/t Au, 13 g/t Ag over 60.8 m.
The drill program is designed to explore (a) disseminated polymetallic mineralization and (b) the character of high grade veins in the East Target Zone.
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.
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 for their suitability to provide size potential and/or amenability for early production.
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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.
You can view the Next News Releases item: Wed Nov 23, 2011, Prospero Silver Stakes 6,353 Hectare Project Adjacent to High-Grade Gold District in Durango, Mexico
You can view the Previous News Releases item: Wed Aug 31, 2011, Prospero Silver Re-Files March 31, 2011 And June 30, 2011 Financial Statements To Add Additional IFRS Disclosure
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