|January 21, 2013|
Rock-Chip Sampling Yields Highly Anomalous Gold in the Petate West/Apartadero Target Zone El Petate Project, State of Hidalgo
|Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero" or the "Company") is pleased to announce the results of 360 rock chip samples obtained from the Petate West and Petate East target zones of its 6,000 hectare El Petate project. The Apartadero target is part of the Petate West zone, measuring 1.3 km long and up to 200 meters wide and has shown the most anomalous gold geochemistry to date in jasperoid outcrops and float. Mapping of the Petate West zone shows northwest and east-west trending silicified zones associated with andesitic dikes with the same orientation (Figure 1). Mapping and sampling have to date identified the La Escoba, Apartadero and and Tecolotes silicified reefs. Other as yet unmapped reefs are anticipated west of the Apartadero reef and in the southern extension of the Petate West zone (see attached maps). The property boundary lies outside the area of the figures. |
The highlights of the Apartadero geochemistry include:
La Escoba areas in the northwest portion of the district is divided into Escoba North, Escoba Central, and Escoba south silicified trends. These are characterized by more subtle precious metal and pathfinder-element anomalies, with gold highs in the 0.1 to 1 ppm range, silver highs under 5 ppm, and mercury highs under 5 ppm.
The Tecolotes area in the southwest sector of the district also exhibits significant highs in Au-Ag-Sb-Hg-As (Figures 2 to 4).
Samples obtained from the reconnaissance sampling program represent chip-grab, chip-channel samples, as well continuous channel samples, either in outcrops or in jasperoid boulders and fragments within float. Most samples were obtained along lengths of 1.0 to 1.5 meters.
Next-step activities for the Petate project:
The Apartadero area (in the Petate West zone), and the Petate East areas are prime targets which require a trenching program in zones where the best precious metal anomalies occur, particularly along the northeastern margin of the Apartadero trend which hosts discontinuous outcrops of dikes. Channel sampling in the trenches should provide a better understanding of the length, width and grade of the mineralized zone(s).
Additional reconnaissance mapping and sampling is required west of the Apartadero area and in the southwestern sector of the district.
The Tecolotes area is believed to host several silicified reefs yet to be mapped and sampled in more detail.
The geology of the project is characterized by an anticlinorium/dome of the Mesozoic fold belt of the Sierra Madre Oriental. All mineral occurrences are hosted in the El Abra limestone of Lower Cretaceous age. A north-south trending remnant of the Upper Cretaceous clastics of the Mendez Formation is as yet un-eroded in a recumbent syncline between the Petate West and Petate East zones (see Figure 1). Scattered outliers of overlying andesites of the Tertiary Pachuca Group do not host alteration or hydro-thermalism, thus suggesting the hydrothermal system is more akin to the age of the Zimapan skarn/replacement type deposit (~42 Ma), than the age of the Pachuca vein deposit (~23 Ma).
In summary, the Apartadero zone highlights stronger gold values associated with Ag-Hg-Sb-As, whereas the Petate East areas are characterized by stronger silver values in association with Au-As-Ba-Fe-Mn. These preliminary results show strong geochemical signatures in the Apartadero and Petate East target areas, including multi-ppm values in gold at Apartadero, and >50 ppm Ag at Petate East. Given the length of the silicified reefs, the Petate project area represents a robust system with excellent potential to host a preserved replacement type deposit at depth with elevated precious metals.
Fluid inclusion petrography indicates the fluids associated with deposition of crystalline quartz are relatively low temperature and salinity (130°C to 230°C; 0-3.0 wt.% NaCl equiv) indicating the surface exposures across the project area correspond to the upper portions of a preserved mineralized system at depth.
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 strategic joint ventures.
For further information please contact:
Tel: (604) 248--0797
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.
You can view the Next News Releases item: Wed Jan 23, 2013, Prospero Acquires Two Additional Claims for Baborigame Project, Chihuahua State, Mexico
You can view the Previous News Releases item: Thu Oct 18, 2012, Prospero Silver Acquires "El Petate" Project, Hidalgo State, Mexico
You can return to the main News Releases page, or press the Back button on your browser.