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Prospero Silver inks option deal with Fortuna for Mexico project

The Vancouver-based company said drilling had begun on the 4,200 meter (m) program

A busines handshake in front of colleagues
The two companiis have now signed the deal

Prospero Silver Corp (CVE:PSL) said it, along with Fortuna Silver Mines, had signed the previously announced option agreement meaning the latter can acquire up to a 70% interest in the Pachuca SE project in Mexico.

On Monday this week, the Vancouver-based company said drilling had begun on a six hole, 4,200-meter program to test a number of potential vein targets.

READ: Prospero Silver kicks off phase 2 drilling at Pachuca SE project, Mexico

To earn the interest, Fortuna must spend US$8 million and complete a preliminary economic assessment, with a minimum spend of $1 million in the first year.

The near-7,000-hectare land package is 24 km southeast of the city of Pachuca, Hidalgo along strike from the historic Pachuca-Real del Monte epithermal vein camp.

Shares were unchanged in Toronto at $0.06.

Contact Giles at [email protected]

Quick facts: Prospero Silver Corp.

Price: 0.045 CAD

TSX-V:PSL
Market: TSX-V
Market Cap: $2.59 m
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Prospero Silver Corp begins phase two drilling at Pachuca SE Project in Mexico

Prospero Silver Corp (CVE:PSL) Executive Vice President of Business Development Ralph Rushton sat down with Proactive Investors Vancouver to tell Steve Darling about phase two of their drilling program on the Pachuca Project in Mexico. Rushton told Proactive about the scope of drilling...

on 4/2/19

2 min read