Proactive Investors - Run By Investors For Investors

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]

View full PSL profile View Profile

Prospero Silver Corp Timeline

Related Articles

Miner
May 22 2019
Tucano is currently the second largest gold producer in Brazil, producing around 150,000 ounces per year
Silvercorp Metals worker
May 07 2019
The flagship asset is the Ying project, also known as the SGX silver-lead-zinc property, in central China
1545212186_shutterstock_87973216.jpg
December 18 2018
Prospero Silver is a Mexico-focused precious metals explorer
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use