Prospero Silver Corp (CVE:PSL)

Prospero Silver Corp (CVE:PSL)

Share Price
$ 0.08
0.01 (15.38 %)
Market Cap
$4.31 m
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Prospero Silver Corp

Prospero Silver is a Project Generator looking for world-class precious metal projects in the great Altiplano mineral belt of northern Mexico, a region our highly-experienced team knows well. We’re using a unique blend of practical exploration experience and cutting-edge science in our discovery programs, drawing on over 60 years of in-country experience. We have a strong portfolio of...

Market: TSX-V:PSL
52-week High/Low: C$0.12 / C$0.04
Sector: Precious Metals - Gold & Silver
Market Cap: $4.31 m
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Big Picture – A Deep Dive Examination of Prospero Silver Corp

Prospero Silver Corp Snapshot

Prospero Silver Corp.

  • We are a Mexico-focused prospect generator
  • Our aim is to discover world-class precious metal projects.
  • We apply a unique blend of practical exploration experience and cutting-edge mineral deposit science to find new gold and silver systems
  • In April 2017, Fortuna Silver Mines committed to invest C$1.5-million to fund our drill programs.

Prospero is identifying targets where the present level of erosion lies above, but relatively close, to the top of epithermal ore zones. These represent the largest untapped potential in Mexico's mineral belts. Mexico's exploration history has now evolved and matured to a level that requires the application of modern, multi-disciplinary geologic tools to look for concealed targets.

In April 2017, we secured a C$1.5-million strategic investment from Fortuna Silver Mines Inc -- a growth oriented min-tier silver and gold producer- to fund first-pass, proof of concept drilling on 3 of our key targets and to support our generative exploration effort.



High-level epithermal system. Near-surface gold & silver in jasperoids, with potential for blind polymetallic replacement mineralization.

  • October 2016, Prospero signed a Letter of Intent with Pan American Silver allowing PAA to earn in to 80% of El Petate
  • Precious metal enhanced possible carbonate-hosted replacement deposit (CRD) proximal to the historic Pachuca-Real del Monte mining district, accessible by road
  • Steep and strata-bound jasperoids host near-surface gold & silver mineralization
  • Five drill-ready targets; 27 drill sites already permitted with surface-owner permissions granted.
  • The significant size of the silicified zones indicates that Petate is a robust mineralized system with excellent potential to host a replacement type deposit at depth with elevated precious metals.

The 6,800 hectare property is located 30km northwest of the historic Pachuca-Real del Monte mining district (Figure 1), on the western side of the Sierra Madre Oriental fold belt, within a northwest trend of historic deposits including Zimapan (Hidalgo) and La Negra (Queretaro).

Extensive mapping and sampling have defined five key drill-ready targets in the Petate West and Petate East areas. Two targets have anomalous gold grades at surface and are potentially large enough for open pit mining. A drill permit --good for 2 years- was granted on September 7, 2015 covering 27 drill sites. Surface access for these targets has been granted by the land owners.

In April 2017, Prospero secured a C$1.5-million strategic investment from Fortuna Silver Mines Inc -- a growth oriented min-tier silver and gold producer- to fund first-pass, proof of concept drilling on 3 of our key targets, including Santa Maria del Oro.

In addition to drilling, future work should test the potential for blind carbonate-replacement bodies of manto and/or chimney type, containing Ag, Pb, Zn and ± Au similar to the Zimapan or Santa Eulalia polymetallic systems.

For more information, please click here




High-level epithermal system with 2 target zones including a major outcropping jasperoid with elevated precious and base metals, and a geophysical lineament. Potential for a productive epithermal Zone at depth.

The Santa Maria del Oro project consists of a number of high-level epithermal targets in close proximity to the historic Magistral del Oro mines in Durango state. Staked by Prospero between late 2011 and early 2012, the resulting 9,066 hectare land package almost completely surrounds the historic mines. Prospero has obtained historic mining records that indicate production of over 1 million ounces of gold from oxide ores with an average grade exceeding 15 g/t Au.

There are 2 target zones at the Santa Maria del Oro project defined by location and geology: the Matorral Zone, and the Western Lineament Zone. (Figure 1). Prospero has started planning for an initial drill campaign to test Matorral in 2017.

In April 2017, we secured a C$1.5-million strategic investment from Fortuna Silver Mines Inc -- a growth oriented min-tier silver and gold producer- to fund first-pass, proof of concept drilling on 3 of our key targets, including Santa Maria del Oro.

For more information, please click here




Possible Pachuca-type epithermal system. Pachuca-Real del Monte is the second largest epithermal deposit in Mexico with total production of roughly 80 M tonnes with an average grade of 500 g/t Ag, and 2.5 g/t Au.
High-level epithermal-style alteration exposed in clay pits adjacent and on-strike to the historic world-class Pachuca mining district.
Detailed alteration mapping and sampling shows close similarities between alteration at Pachuca SE and alteration exposed above the Pachuca mine.
Anomalous Au, Ag and Zn geochemistry (Au from 0.1 to 0.61 ppm, Ag from 1.0 to 2.92 ppm, and Zn from 100 to 5,290 ppm) indicates potential for blind epithermal mineralization, at relatively shallow depth below the present surface.
The 7,256 hectare Pachuca SE claim is 24km SE of the city of Pachuca, Hidalgo (Figure 1). Infrastructure is excellent, with power available and easy road access from the Pachuca-Tulancingo freeway which crosses the middle of the property.

Pachuca SE is on strike from one of the world's largest epithermal precious metal deposits and the local geology is typical of a high-level epithermal environment.Epithermal-style argillic alteration is associated with anomalous Au, Ag and Zn geochemistry, exposed in an erosional window into a felsic volcanic pile. The anomalous geochemistry and clay alteration are essentially identical to that seen in the Vizcaina structure above the Pachuca Mine.

The Pachuca SE target has size, hydrothermal alteration and geochemical anomalies associated with structures and could host a preserved Pachuca-type epithermal deposit at depth.

In April 2017, we secured a C$1.5-million strategic investment from Fortuna Silver Mines Inc -- a growth oriented min-tier silver and gold producer- to fund first-pass, proof of concept drilling on 3 of our key targets, including Pachuca SE.

For more information, please click here



Low sulphidation epithermal vein system exposed over a 2.5km by 50-100m area. Potential to host an epithermal Au-Ag deposit,

  • 430 hectare concession, acquired by staking, in northwest Chihuahua close to the border with Sonora
  • Classic low sulphidation epithermal banded veins
  • Veining trends northwest and is hosted primarily by a rhyolite package, interpreted to be a vertical dyke or dome
  • Fluid inclusion temperatures of 150-200℃ indicate that the veining exposed at surface is high level, perhaps 150-200m above the epithermal productive zone
  • Sampling at surface has returned gold up to 1.94 g/t and silver up to 34.9 g/t
  • No community or security issues

The property is located in the Sierra Madre Occidental, very close to the Hermosillo-Chuhuahua highway. Access is from Hermosillo or Chihuahua, about a 7-8 hour drive on paved high way followed by 10km on a good gravel road. The closest town with services is Yecora in Sonora, about 40 minutes (17km) away.

The Bermudez project is located near the Mulatos mine in Sonora, and close to the Dolores mine in Chihuahua. Prospero has found a few small pits at Bermudez but no evidence of systematic mining or exploration.

The land is Ejito owned and permission would be needed from the Ejito before drilling could be carried out.

For more information, please click here

Prospero is focused on the great Altiplano mineral belt of northwest Mexico. Our exploration activities are limited currently to the states of Hidalgo, Chihuahua and Durango. We do not explore outside of Mexico.

William Murray, P. Eng
Position: Chairman of the Board & Director

• Over 30 years of international mining experience in operations, engineering and construction.

• Currently Executive Chairman and Director of PolyMet Mining Corp.

• Previous senior management positions at Denison Mines, Anglo American Corporation and Fluor Daniel.

Tawn Albinson, M.Sc (Economic Geology)
Position: President & Director

• Over 20 year experience in mining; spent in Mexico.

• Holds a BA of Science in Geology from Macalester College in Minnesota and a Masters of Science in Economic Geology from The University of Minnesota.

• Signed multiple Option Agreements and JV's with Junior and Major Mining Companies: Teck Cominco, Noranda, Apex Silver, Newmont and Peñoles.

Ralph Rushton M.Sc (Economic Geology)
Position: Executive Vice President Business Development

• 30 years experience in the mining and exploration business, gained in Africa, E. Europe, the Middle East and the Americas

• Last 13 years has focused on business development, marketing and financing of junior companies

• Assisted in raising over $400m via private placements to fund exploration projects around the world.

Martin Soto
Position: VP Exploration

• Geological engineer with over 20 years experience in Mexico and Central America.

• Recently supervised the 4 rig in-fill drilling program at the Bajas Boleo project to increase resource classification. Also managed the environmental compliance impact of the program.

• Focus on generative exploration in Mexico to generate new properties for Prospero Silver Corp.

Lino Larraga
Position: Senior Geologist

• Over 25 years experience as a mining and exploration geologist .

• Supervised drill campaigns for: Newmont, Goldfields, Kennecott, Asarco, Apex Silver, and Normabec Mining .

• Responsible for discovering new ore reserves and additional veins for Normabec Mining on their primary project in 2007 in the Real de Catorce District in Mexico.

Grant Bosworth
Position: Director

• Over 20 years of experience in the areas of Minerals and Metals, Refinery/Petrochemical and Power Generation Industries.

• Holds a BSc in Mineral Engineering from University of Alberta, Edmonton Alberta and is a registered professional engineer in the Province of British Columbia and Alberta.

• Worked for EPCM organizations such as Kilborn Engineering, SNC Lavalin, Bantrel and Hatch. He also has operational experience with Dension Mines, Quintette Coal Operation.

• Currently Senior Project Manager with Hatch Canada.

Murray Oliver, B.A. Economics
Position: Director

• 21 years of experience as a consultant, providing corporate finance, restructuring services and shareholder and media communications for public and private companies. Has worked with the Pemcorp Group of Companies since 1995 and has served as Vice President of Business Development since 2000.

• Currently a director of Terrace Energy and Karsten Energy.

• Founder of Heart Force Medical Inc., a private medical device company.

John Watson
Position: Director

• Over 30 years experience in the mineral resource industry.

• Holds a B.A. in Geology from the University of Texas and a M.Sc. in Mineral Economics from the Colorado School of Mines.

• A director of South American Silver Corp.; President of Pan-Nevada Gold Corp. from 2002 to 2007; also the Manager/Member of Watson & Associates LLC since 1997.

• Currently President & CEO of NV Gold Corporation, a venture listed company with active exploration activities in Nevada and New Mexico USA.

As of May, 2017

Shares Issued: 35,924,404
Options Outstanding: 845,000
Warrants Outstanding: 20,470,597
Fully Diluted: 57,240,001

Prospero Silver Corp.
c/o 1800 - 510 West Georgia Street
Vancouver, B.C.
V6B 0M3

Phone: 604-288-7813

Mexico Head Office: Minera Fumarola
Address: Minera Y Metalurgica del Boleo, SA de CV
Sinaloa #106 Desp. 302

Auditors: Dale Matheson Carr-Hilton Labonte LLP
Address: 1500 - 1140 West Pender Street
Vancouver, BC
Canada V6E 4G1
Telephone: 604-687-4747
Fax: 604-689-2778

Legal Counsel (Canada): Bull Housser Tupper
Address: 3000 - 1055 West Georgia Street
Vancouver, BC
Canada V6E 3R3
Telephone: 604-687-6575
Fax: 604-641-4949

Transfer Agent: Computershare
Address: 510 Burrard Street, 2nd Floor
Vancouver, BC
Canada V6C 3B9
Telephone: 604-661-9400
Fax: 604-661-9549

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