Prospero Silver Corp (TSX:PSL) has updated investors on its planned exploration work on its Mexican projects for the remainder of 2018.
In a statement, the company said the key objective for Prospero and its strategic partner Fortuna Silver Mines Inc. is to complete first-pass, proof-of-concept drill testing of key projects in the Altiplano belt of northern Mexico.
Three projects - Bermudez, Buenavista and Trias - have been shortlisted.
A fourth hole is tentatively planned for the Pachuca SE project towards the end of the year once drilling is complete at the 3 projects.
While Bermudez and Buenavista are covered by granted concessions, Prospero anticipates that the Trias concession should be granted shortly.
The company said Trias nor Bermudez have not been drilled historically, and Buenavista has had some limited drill testing in the past.
A total of approximately 6,000m of diamond core drilling is planned for the 3 projects as follows:
- Buenavista (Durango) 3,450m of core drilling
- Trias (Chihuahua) 1,200m of core drilling
- Bermudez (Chihuahua) 1,200m of core drilling.
A 4th hole is tentatively planned for the Pachuca SE project towards the end of the year once drilling is complete at the 3 projects.
All 3 projects are low sulphidation epithermal type targets, although Buenavista exhibits some intermediate sulphidation characteristics with elevated base metal levels at depth in the system.
Additional field work for Buenavista
At Buenavista, two main zones of alteration and mineralization have been identified: the Buenavista vein and the El Pajaro vein. The high level argillic alteration, and the stratigraphic position of the mineralization suggests the presence of a preserved epithermal system at depth.
Additional field work is planned for Buenavista prior to drilling. A structural geologist will be on site shortly to refine Prospero's structural geological interpretation of the system, and additional sampling is also planned.
All necessary permits on hand for Bermudez
The first 1,200m drilling is being planned for the Bermudez project in Chihauhua State, Mexico.
All of the necessary permits are in hand for this project, and a preliminary diamond drill program has been designed to test three zones for precious metal mineralization.
The main target area for the Trias property, is located adjacent and to one side of the Chihuahua-Cuauhtemoc freeway within the General Trias (Santa Isabel) township.
A low sulphidation epithermal vein system are multi-banded and exhibit a number of distinct textures and silica phases, including bands of coarse crystalline drussy quartz, originally amorphous silica crystallized to jigsaw quartz, bands with some barite, chalcedony bands, and platy calcite bands pseudomorphed to silica phases.
Some of the bands host preserved very fine to medium grained pyrite. Vein breccias exhibit fragments of the multi-banded vein material cemented by reddish sugary quartz with iron oxides.
Surface channel sampling shows anomalous silver values in the 25 to 95 ppm range, and anomalous gold values in the 0.23 to 1.1 ppm range.
The Pachuca SE drilling is to test a structure that was not drilled in the initial drilling reported earlier this year.
A limited 3-hole drill program was completed in early 2018 at the Pachuca SE project close to the historic mining city of Pachua in Hidalgo State, Mexico. Drilling discovered a new gold and silver-bearing epithermal vein system.
The fourth hole will investigate an untested structure associated with strong surface alteration.