http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Tue, 22 May 2018 23:37:46 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Prospero Silver shares advance as it amends financing with Fortuna and is poised to start drilling ]]> http://www.proactiveinvestors.com/companies/news/196677/prospero-silver-shares-advance-as-it-amends-financing-with-fortuna-and-is-poised-to-start-drilling-196677.html Prospero Silver Corp (TSX:PSL) saw shares advance nearly 6% in Toronto as it gets ready for this year's drilling after amending its planned work programme and revealed it had amended its strategic financing agreement with partner Fortuna Silver Mines.

This means a repricing and exercising of Fortuna's over 54.3mln share purchase warrants, which will provide additional financing for the 2018 drill programme.

The Prospero-Fortuna team has now set upon a 6,000-metre drill program to test three additional Prospero targets, in the following order of priority -  Buenavista, Bermudez and Trias.

"Prospero is an explorer; our aim is to find and test new precious metals discoveries. It is very encouraging to have this renewed commitment by Fortuna for first-pass drilling and rapid assessment of as many of our projects as possible," said Tawn Albinson, Prospero's president and chief executive.

"In the context of the current market, the repricing and exercising Fortuna's warrants is a non-dilutive way for us to secure additional funding for the planned work. It removes warrant overhang and provides a premium-to-market financing.

"In discussions with Fortuna, and drawing on advice from our field crews, we've rejigged our programme slightly to take into account the availability of water for drilling and the general conditions at the Buenavista project.

"We are approaching a perfect window for drilling at Buenavista and we plan to get under way before the rigours of the rainy season in the high Altiplano. The team is moving as fast as it can to get started at Buenavista and generate results for our shareholders."

As reported last month, at  Buenavista, two main zones of alteration and mineralisation have been identified: the Buenavista vein and the El Pajaro vein.

The high level argillic alteration, and the stratigraphic position of the mineralisation suggests the presence of a preserved epithermal system at depth.

Regarding the financing, Prospero will amend the Fortuna warrants to reduce the exercise price to 15 cents a share, on the condition that, within three business days of the exercise price reduction becoming effective, Fortuna will fully exercise the Fortuna warrants for gross proceeds to Prospero of $803,571.

The funds will be applied toward the initial phases of work under the 2018 drill programme.

For the remainder of this year's drill programme, by the end of September, Prospero has agreed to undertake an additional private placing with Fortuna as the only subscriber, and at a price per Prospero share equal to then-current market price, to raise US$570,000, which is around US$730,000 based on the current United States/Canadian exchange rate.

Prospero shares added 5.88% to C$0.090 on the day.

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Wed, 09 May 2018 15:09:00 -0400 http://www.proactiveinvestors.com/companies/news/196677/prospero-silver-shares-advance-as-it-amends-financing-with-fortuna-and-is-poised-to-start-drilling-196677.html
<![CDATA[News - Prospero Silver poised to raise up to C$1mln to advance portfolio ]]> http://www.proactiveinvestors.com/companies/news/195076/prospero-silver-poised-to-raise-up-to-c1mln-to-advance-portfolio-195076.html Prospero Silver Corp (CVE: PSL) is poised to raise up to C$1mln via a placing to advance exploration in Mexico and for working capital.

"Prospero's plan for the coming field season is to continue value-added work to our existing project portfolio, and to finalize arrangements to acquire more projects," said William Murray, chairman at Prospero.

Murray said the 'first-pass' drilling of three projects in 2017 with strategic partner Fortuna Silver had essentially validated president Tawn Albinson's exploration strategy for epithermal systems.

"Pachuca SE, for example, was totally blind at surface, and yet all three holes have identified extensive mineralized structures," he said.

"We now look forward to the continuation of this rapid assessment exploration approach on three other projects, namely Buenavista; Trias and Bermudez.

"This private placement is an important first step toward raising what we hope will be sufficient funding for roughly 6,000m of core drilling during 2018."

The company will issue up to 11.1mln units at C$0.09 each for gross proceeds of up to C$1mln.

Each unit consists of one share and one-half of a non-transferable share purchase warrant, which is exercisable for two years.

Each warrant entitles the bearer to buy a further share for C$0.16 each.

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Mon, 16 Apr 2018 11:42:00 -0400 http://www.proactiveinvestors.com/companies/news/195076/prospero-silver-poised-to-raise-up-to-c1mln-to-advance-portfolio-195076.html
<![CDATA[Media files - Prospero Silver Corp hits 'very high grade' silver at Pachuca project in Mexico ]]> http://www.proactiveinvestors.com/companies/stocktube/8980/prospero-silver-corp-hits-very-high-grade-silver-at-pachuca-project-in-mexico-8980.html Thu, 29 Mar 2018 14:49:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/8980/prospero-silver-corp-hits-very-high-grade-silver-at-pachuca-project-in-mexico-8980.html <![CDATA[News - Prospero Silver expands gold-silver vein system at Pachuca Southeast with third hole ]]> http://www.proactiveinvestors.com/companies/news/194060/prospero-silver-expands-gold-silver-vein-system-at-pachuca-southeast-with-third-hole-194060.html Prospero Silver Corp (CVE:PSL) posted results from the third hole at the Pachuca Southeast project in Mexico, which hit silver values.

Earlier this month, the group said it had uncovered a new gold-and-silver-bearing vein system at the property with the first two holes.

READ - Prospero Silver uncovers new gold and silver vein system at Pachuca Southeast project, Mexico

A third tested the east-west striking Aguayutla structure to the north of the first two holes and cut multiple zones of anomalous silver values, Prospero said.

Highlights included 121.3 g/t (grams per ton) silver and 0.37 g/t gold over 1.5m from 407.4m downhole.

This intercept included a high-grade sample with abundant argentite which assayed 870ppm (parts per million) silver over 20cm.

"The limited program we've just finished demonstrates that the Pachua SE property hosts a number of blind epithermal veins with silver and gold mineralization; exactly what we'd hoped to see at the property," said Tawn Albinson, the president of Prospero.

"The discovery validates the science-based strategy we've applied to our exploration for blind epithermal targets; a strategy which we've implemented in the drilling and generative work with Fortuna.

"The next step at Pachuca will be additional drilling program to extend mineralization in the veins."

WATCH - Prospero Silver plans to strike silver with 4 deeper holes in Pachuca

Pachuca Southeast is the third of three early-stage "proof of concept" projects financed by Fortuna Silver Mines and involved the drilling of three holes with a combined depth of 1,800m

The 7,256 hectare concession lies 24km south eastof the city of Pachuca, Hidalgo and infrastructure is excellent, the company says.

The site lies on strike from the Pachuca-Real del Monte epithermal vein camp, one of the world's largest epithermal precious metal deposits and the local geology is typical of a high-level epithermal environment.

Shares in Toronto were unchanged at ten Canadian cents.

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Thu, 29 Mar 2018 10:42:00 -0400 http://www.proactiveinvestors.com/companies/news/194060/prospero-silver-expands-gold-silver-vein-system-at-pachuca-southeast-with-third-hole-194060.html
<![CDATA[News - Prospero Silver uncovers new gold and silver vein system at Pachuca Southeast project, Mexico ]]> http://www.proactiveinvestors.com/companies/news/193180/prospero-silver-uncovers-new-gold-and-silver-vein-system-at-pachuca-southeast-project-mexico-193180.html Prospero Silver Corp (CVE:PSL) has uncovered a new gold-and-silver-bearing vein system at the Pachuca Southeast project in Mexico.

Pachuca Southeast is the third of three early-stage "proof of concept" projects financed by Fortuna Silver Mines and involved the drilling of three holes with a combined depth of 1,800m. 

"Although the current drill program is limited to 3 holes, we've cut new vein systems within 25km of one of the world's great silver-gold districts, the Pachuca-Real Del Monte system, which produced over 1.2-billion ounces of silver," said Tawn Albinson, the president of Prospero.

Highlight intercepts..

Among the highlight intercepts was  0.5 m (meters) of 1.04 ppm (parts per million) gold (Au) and 193 ppm silver (Ag) in one hole - PSE-18-02.

In another hole -PSE-18-01 - an 0.8m zone returned 16.9 ppm silver, and from 210.75m a 1.05 m interval returned 23.8 ppm silver.

Albinson added: "We have at least six to seven km of linear, structurally controlled alteration at surface on our concession, so hitting multi-ounce and multigram silver and gold grades with the first two holes is exciting.

"The intercepts, which include 1.35 metre at 227 Ag between 147.4 m and 148.8 m in hole 1, demonstrate that the negligible Ag and Au anomalies we noted in the surface alteration are related to a potentially significant epithermal vein system at depth.

"For example, the main vein structure in hole 2 is over 12 m thick down hole; probably eight m to 10 m true thickness, carries 0.39 parts per million Au and 33 ppm Ag, and the third intercept, which is 0.75 m in width, carries 6.4 ppm Au and 75 ppm Ag."

Good infrastructure..

The 7,256 hectare Pachuca SE concession lies 24 km southeast of the city of Pachuca, Hidalgo.

Major power lines and the Pachuca-Tulancingo freeway cross the middle of the property, while it is on strike from the Pachuca-Real del Monte epithermal vein camp, one of the world's largest epithermal precious metal deposits.

Shares were unchanged at C$0.14 each.

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Wed, 14 Mar 2018 11:36:00 -0400 http://www.proactiveinvestors.com/companies/news/193180/prospero-silver-uncovers-new-gold-and-silver-vein-system-at-pachuca-southeast-project-mexico-193180.html
<![CDATA[Media files - Prospero Silver plans to strike silver with 4 deeper holes in Pachuca ]]> http://www.proactiveinvestors.com/companies/stocktube/8677/prospero-silver-plans-to-strike-silver-with-4-deeper-holes-in-pachuca Tue, 30 Jan 2018 03:22:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/8677/prospero-silver-plans-to-strike-silver-with-4-deeper-holes-in-pachuca <![CDATA[News - Prospero says drilling started at Pachuca southeast project in Mexico ]]> http://www.proactiveinvestors.com/companies/news/190661/prospero-says-drilling-started-at-pachuca-southeast-project-in-mexico-190661.html Prospero Silver Corp (CVE:PSL) says the drillbit has started turning at the Pachuca southeast project in Hidalgo state in Mexico.

The work completes the third project in a 6,900m program to test three of Prospero's projects under the terms of the strategic investment from Fortuna Silver Mines last year.

READ: Prospero Silver Corp happy with drill results from El Petate project, Mexico

Prospero and Fortuna are planning a three-hole to four-hole program to test two targets with deep, angled holes.

The 7,256-hectare Pachuca SE claim is 24km southeast of the city of Pachuca, Hidalgo.

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 the Pachuca-Real del Monte epithermal vein camp, one of the world's largest epithermal precious metal deposits and the local geology typical of anomalous gold (Au), silver (Ag) and zinc (Zn) geochemistry.

WATCH: Prospero Silver hopeful of receiving final assay results from El Petate ‘within next week or two’

The first hole will target an actively mined clay pit, which consists of a structurally controlled illite alteration zone that is mined to produce construction brick.

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Thu, 25 Jan 2018 15:57:00 -0500 http://www.proactiveinvestors.com/companies/news/190661/prospero-says-drilling-started-at-pachuca-southeast-project-in-mexico-190661.html
<![CDATA[News - Prospero Silver Corp happy with drill results from El Petate project, Mexico ]]> http://www.proactiveinvestors.com/companies/news/189831/prospero-silver-corp-happy-with-drill-results-from-el-petate-project-mexico-189831.html Shares in Prospero Silver Corp (CVE:PSL) advanced on Wednesday as the firm described itself 'happy' with latest drill assays from the Petate project in Mexico.

The results are from first stage reconnaissance drilling at its most advanced project.

WATCH - Prospero Silver hopeful of receiving final assay results from El Petate ‘within next week or two’ READ - Prospero Silver finds gold in early holes at Petate project

Twelve holes were completed, five of which were reported last November. Today's assays are from seven holes.

"We are happy with the results at El Petate, said Tawn Albinson, the president of Prospero Silver.

He added that in particular three holes had highlighted "interesting" grades over intervals of up to 24.9 meters downhole, although with unknown strike extent, indicating prospective deeper targets for a follow-up program.

The drilling of Petate is being carried out as part of the firm's campaign evaluation financed by strategic partner Fortuna Silver Mines  over three of Prospero's projects.

When Prospero has completed drilling three projects, Fortuna have the right to select one for a joint venture.

Highlight results today included an interval of  24.9m with 0.76 g/t (grams per ton) gold and 22.4 g/t silver.

Another highlight was 3.9m at 1.18 g/t gold and 3.71 g/t silver.

The company said it was keen, like Fortuna, to drill as many of Prospero's projects as possible, hence it plans to mobilise onto the next target -  Pachuca SE - as soon as January (this month).

The Pachuca SE target lies about 20km southeast of the Vizcaina vein, one of the largest silver-rich epithermal veins in the world, it added.

Prospero shares in Toronto added 4.76% to C$0.11.

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Wed, 10 Jan 2018 12:10:00 -0500 http://www.proactiveinvestors.com/companies/news/189831/prospero-silver-corp-happy-with-drill-results-from-el-petate-project-mexico-189831.html
<![CDATA[Media files - Prospero Silver hopeful of receiving final assay results from El Petate ‘within next week or two’ ]]> http://www.proactiveinvestors.com/companies/stocktube/8453/prospero-silver-hopeful-of-receiving-final-assay-results-from-el-petate-within-next-week-or-two-8453.html Thu, 30 Nov 2017 11:00:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/8453/prospero-silver-hopeful-of-receiving-final-assay-results-from-el-petate-within-next-week-or-two-8453.html <![CDATA[News - Prospero Silver finds gold in early holes at Petate project ]]> http://www.proactiveinvestors.com/companies/news/186969/prospero-silver-finds-gold-in-early-holes-at-petate-project-186969.html Prospero Silver Corp (CVE:PSL) updated on first stage reconnaisance drilling at its most advanced project - the El Petate project in Mexico.

Eight shallow holes have been completed to date in what's called the Apartadero zone and five assays were received.

READ - Prospero Silver eyeing first quarter of 2018 for Bermudez project drilling READ - Prospero Silver gets green light from TSX Venture Exchange for Buenavista option

Highlights include 3.5 metres (m) at 3.5 g/t (grams per ton) gold and 1.6 g/t silver.

In another hole, there was 18.5 metres at 0.8 g/t gold and 5 g/t silver.

"We were very pleased to encounter gold grades in some of the early shallow reconnaissance holes," said Tawn Albinson, the president of Prospero.

"The drill plan developed with Fortuna was designed to get a handle on structural controls on the highest priority targets before deeper drilling."

"We now see a strong correlation between the presence of black jasperoids after limestone and grade.

"A few more shallow holes will be required over the next two weeks to get a decent picture of the strike and dip of what we think are the controlling structures."

The drilling of Petate is being carried out as part of the firm's reconnaissance campaign evaluation financed by its strategic partner Fortuna Silver Mines  over three of Prospero's projects.

Prospero shares were unchanged at C$0.16 each.

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Wed, 08 Nov 2017 15:23:00 -0500 http://www.proactiveinvestors.com/companies/news/186969/prospero-silver-finds-gold-in-early-holes-at-petate-project-186969.html
<![CDATA[News - Prospero Silver eyeing first quarter of 2018 for Bermudez project drilling ]]> http://www.proactiveinvestors.com/companies/news/186604/prospero-silver-eyeing-first-quarter-of-2018-for-bermudez-project-drilling-186604.html Mexico-focused Prospero Silver Corp (CVE:PSL) updated on drill plans for its 430 hectare (Ha) Bermudez project, saying it had now received all necessary permits.

Planning is underway to drill two to four holes, most likely in the first quarter of 2018, it said.

Prospero is testing the site as part of its continuing 6,950 metre (m) reconnaissance drill campaign financed by strategic partner Fortuna Silver Mines Inc.

Significantly, all of the proposed holes are on previously disturbed land, limiting the environmental impact, and the company does not require a separate environmental permit.

The property, in the Sierra Madre Occidental, has an epithermal vein system exposed over a 2.5km by 50-100m (meter) area, suggesting the potential to host a gold-silver deposit.

Prospero has previously collected 144 channel and chip samples from the epithermal veins, with a best result to date of 1.94 g/t (grams per tonne) of gold.

Sampling has also defined strongly anomalous gold, silver, barium and zinc.

Shares nudged up 3.03% to C$0.17 each.

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Wed, 01 Nov 2017 12:53:00 -0400 http://www.proactiveinvestors.com/companies/news/186604/prospero-silver-eyeing-first-quarter-of-2018-for-bermudez-project-drilling-186604.html
<![CDATA[News - Prospero Silver gets green light from TSX Venture Exchange for Buenavista option ]]> http://www.proactiveinvestors.com/companies/news/185277/prospero-silver-gets-green-light-from-tsx-venture-exchange-for-buenavista-option-185277.html Mexico-focused project generator Prospero Silver Corp (CVE:PSL) has received the green light from the TSX Venture Exchange on its  Buenavista option in  Mexico, it said.

As reported at the beginning of last month, the deal  was struck with Exploraciones del Altiplano SA de CV  and is to earn a 100% right, title and interest in and to Altiplano's Buenavista claims in Durango state.

As part of the deal Altiplano will retain a 2% net smelter return royalty (NSR).

READ - Prospero Silver says Petate is "exciting" precious metals project in shareholder update READ - Prospero Silver starts the drillbit turning at its most advanced project

Prospero president and chief executive Tawn Albinson owns or controls, indirectly, via his consulting company Microtermometria y Asesoria Geologica Minera SA de CV, over 20% of Altiplano.

To exercise the option and earn 100%, Prospero must issue 750,000 shares to Altiplano over 48 months - 75,000 shares of which must be within five business days of approval from the TSX Venture Exchange approval.

Precious metal group Prospero aims to discover world-class projects in the major mineral belts of Mexico.

Its exploration programs are run by a small geological team based in Mexico.

Last month it said it had started drilling at the Petate project in Hidalgo state, Mexico - its most advanced project - after receiving thefinal permission.

A rig is now on site and was due to begin turning  overnight on Sunday, September 17.

Prospero plans to drill 12 holes at Petate to test four targets - Apartadero SE, Apartadero Central, Tajo and Petate No. 3

It is being carried out as part of its continuing 6,950m reconnaissance drill campaign financed by strategic partner Fortuna Silver Mines Inc

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Mon, 09 Oct 2017 09:13:00 -0400 http://www.proactiveinvestors.com/companies/news/185277/prospero-silver-gets-green-light-from-tsx-venture-exchange-for-buenavista-option-185277.html
<![CDATA[News - Prospero Silver says Petate is "exciting" precious metals project in shareholder update ]]> http://www.proactiveinvestors.com/companies/news/184544/prospero-silver-says-petate-is-exciting-precious-metals-project-in-shareholder-update-184544.html Prospero Silver Corp (CVE:PSL) has provided shareholders with an update on current activities, following the start fo drilling at the Petate project in Hidalgo State, Mexico last week.

Petate is the group's most advanced project.

It is "an exciting precious metals project which has attracted a lot of interest from potential partners over the last 3-4 years," Prospero said.

READ THE FULL UPDATE HERE..

As reported previously, Prospero plans to drill 12 holes at Petate to test four targets - Apartadero SE, Apartadero Central, Tajo and Petate No. 3

It is being carried out as part of its continuing 6,950m reconnaissance drill campaign financed by strategic partner Fortuna Silver Mines Inc.

The update also described how all the miner's Mexico City based team are safe and well after the major earthquake last week.

The firm reminded shareholders that it had stopped drilling at the Matorral project for now, having sunk just under 1,400m in 3 holes with partner Fortuna Silver Mines.

"While we didn’t get any significant assay results from this round of drilling, we did cut rocks that show many of the key signs of an epithermal-type mineralized system..," it said.

Prospero Silver Corp shares are unchanged at C$0.21.

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Mon, 25 Sep 2017 15:04:00 -0400 http://www.proactiveinvestors.com/companies/news/184544/prospero-silver-says-petate-is-exciting-precious-metals-project-in-shareholder-update-184544.html
<![CDATA[News - Prospero Silver starts the drillbit turning at its most advanced project ]]> http://www.proactiveinvestors.com/companies/news/184163/prospero-silver-starts-the-drillbit-turning-at-its-most-advanced-project-184163.html Prospero Silver Corp (CVE:PSL) has started drilling at the Petate project in Hidalgo state, Mexico after it received the final permission.

A rig is now on site and was due to begin turning  overnight on Sunday, September 17.

Prospero plans to drill 12 holes at Petate to test four targets - Apartadero SE, Apartadero Central, Tajo and Petate No. 3

It is being carried out as part of its continuing 6,950m reconnaissance drill campaign financed by strategic partner Fortuna Silver Mines Inc.

The 6,868 hectare El Petate project lies 30km north-west of the historic Pachuca-Real del Monte mining district, on the western side of the Sierra Madre Oriental fold belt, within a north-west trend of historic deposits including Zimapan (Hidalgo) and La Negra (Queretaro).

The Petate property is the most advanced of Prospero's projects, with drill permits about to be granted for 29 drill sites.

High-level epithermal alteration is exposed over a 5km by 4km area with highly anomalous gold and silver hosted in extensive outcrops.

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.

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Mon, 18 Sep 2017 13:35:00 -0400 http://www.proactiveinvestors.com/companies/news/184163/prospero-silver-starts-the-drillbit-turning-at-its-most-advanced-project-184163.html
<![CDATA[Media files - Prospero Silver readying for drilling at El Petate ]]> http://www.proactiveinvestors.com/companies/stocktube/8093/prospero-silver-readying-for-drilling-at-el-petate-8093.html Mon, 18 Sep 2017 09:26:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/8093/prospero-silver-readying-for-drilling-at-el-petate-8093.html <![CDATA[News - Prospero Silver to start drilling at El Petate next month ]]> http://www.proactiveinvestors.com/companies/news/182947/prospero-silver-to-start-drilling-at-el-petate-next-month-182947.html Prospero Silver Corp (CVE:PSL) said drilling is expected to begin at the El Petate project in Hidalgo State in September, pending receipt of final permits. 

The company's five-month drill program is designed to carry out first-pass drilling of a number of Prospero's early stage projects in the world class Mexican Altiplano mineral belt.

The El Petate project is located 30 kilometers (km) north-west of the historic Pachuca-Real del Monte mining district, on the western side of the Sierra Madre Oriental fold belt, within a north-west trend of historic deposits including Zimapan (Hidalgo) and La Negra (Queretaro).

The Petate property is the most advanced of Prospero's projects, with drill permits about to be granted for 29 drill sites. Surface access has already been secured from the land owners, Prospero said.

The number of holes to be drilled is currently being discussed with Fortuna Silver Mines Inc (TSE:FVI), its strategic partner. The expectation is about 2,800 meters will be drilled.

Meanwhile, drilling has finished for the time being at the Matorral project, as part of a scheduled break.

READ Prospero Silver Corp kicks off drilling at Matorral project in Mexico

The break will allow time for additional interpretation of the results of alteration mineral analysis. Prospero will be carrying out age-dating of samples of hydrothermal alteration clay minerals to clarify the age relationships between the hydrothermal system and host rocks.

No significant precious metal assay results were returned in the drilling with the exception of hole 17-01, which returned sporadic anomalous silver values from trace up to 32 parts per million (ppm) silver (Ag); however, Prospero believes additional deeper drilling is required to reach the boiling zone in the system.

The presence of late barren calcite in all three holes is believed to be analogous to similar calcite veins seen in the high level epithermal environments above other Mexican epithermal deposits such as Fresnillo and Pachuca. The calcite is interpreted to be related to the descent of steam-heated carbonate rich waters as the hydrothermal system begins to collapse.


 

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Thu, 24 Aug 2017 14:45:00 -0400 http://www.proactiveinvestors.com/companies/news/182947/prospero-silver-to-start-drilling-at-el-petate-next-month-182947.html
<![CDATA[News - Prospero Silver Corp set to acquire Mexican claims via option ]]> http://www.proactiveinvestors.com/companies/news/181861/prospero-silver-corp-set-to-acquire-mexican-claims-via-option-181861.html Mexico-focused project generator Prospero Silver Corp (CVE: PSL) has entered an option deal to acquire claims in the country.

The agreement is with Exploraciones del Altiplano SA de CV to earn a 100% right, title and interest in and to Altiplano's Buenavista claims located in Durango state.

As part of the deal Altiplano will retain a 2% net smelter return royalty (NSR).

Prospero president and chief executive Tawn Albinson owns or controls, indirectly, via his consulting company Microtermometria y Asesoria Geologica Minera SA de CV, over 20% of Altiplano.

To exercise the option and earn 100%, Prospero must issue 750,000 shares to Altiplano over 48 months - 75,000 shares of which must be within five business days of approval from the TSX Venture Exchange approval.

Precious metal group Prospero aims to discover world-class projects in the major mineral belts of Mexico.

Its exploration programs are run by a small geological team based in Mexico.

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Wed, 02 Aug 2017 09:20:00 -0400 http://www.proactiveinvestors.com/companies/news/181861/prospero-silver-corp-set-to-acquire-mexican-claims-via-option-181861.html
<![CDATA[News - Prospero all set to drill in some of the most prospective silver country in the world ]]> http://www.proactiveinvestors.com/companies/news/179819/ Markets and mining can work very effectively together, but when one side loses touch with the other, then a company can start to drift.

That, broadly, was the situation at Prospero Silver Corp (CVE:PLS) when Ralph Rushton was approached in mid-to-late August last year to try to breathe new life into the business.

There was no problem on the geological side, as Rushton divined immediately.

“They’d put in as technical director Tawn Albinson, who’s forgotten more than most of us will ever know about Mexican geology,” says Rushton.

Since Rushton has spent much of his 30-odd year career visiting mines and exploration projects around the world, that’s saying something.

Rushton’s role therefore wasn’t to scout out projects to bring the company back to life on the markets. Rather it was to reinvigorate the company’s presence on the markets to bring life back into the assets.

In his time, Rushton has participated in fundraisings that add up to a total of more than C$400 mln, and it was no surprise that once he’d settled into his new role as Executive Vice President Business Development he revealed he had a trick or two up his sleeve.

“The company had about C$80,000 in the bank when I joined, and that allowed them to take the odd chip sample and do not much else at all,” he says.

In its favour though, directors and key personnel weren’t accruing salary in the form of shares or debt, but were simply working on in the belief that the assets would one day pay off big enough to make it worthwhile.

That sort of commitment is always worth paying attention to, and it certainly dovetails with Rusthon’s assessment of the qualities of Albinson’s geological expertise.

“I went down there and looked at the projects and came back really impressed,” says Rushton.

“After that I went to see guys I knew straight away on the buy side and Sprott came back immediately. So Canaccord, Haywood and Sprott came in for C$1.9 mln.”

Lo and behold, Prospero was back in business.

“The second phase of the 18-month plan that we laid out as a management team,” continues Rushton, “was to get a strategic investor or major partner. So we approached a few companies and eventually one that I know well, Fortuna Silver, agreed to put in C$1.5 mln in a placement at C$0.28 for a share and a warrant.”

This deal is broadly similar to one Fortuna has with European-focussed Medgold (CVE:MED) and involves Fortuna financing exploration on a select small portfolio of projects and then electing or not to progress further with whatever looks good in a formal joint venture.

“C$1.2 mln gets put into the ground in a drill programme, that’s our undertaking to them,” says Rushton. “The other 20% goes into the generative effort.”

The “generative effort” refers to Prospero’s wider and longer term efforts at project generation in Mexico.

But in the near-term the company has a much more pressing priority.

“With the C$1.2 mln we will drill three projects,” says Rushton. “We want to demonstrate that Tawn’s ideas are correct. The first step is to make sure that the concepts work.”

There’s every confidence that they do, such that Fortuna, Sprott and Haywood have all put good money on the table. Albinson has lived in Mexico his whole life and spent his entire career exploring in Mexico. He has his own Mexican analytical laboratory and is also a well-known academic in Mexican geological circles.

In that sense, he’s got it all going on.

But now it’s down to the nitty gritty of drilling. Fortuna has selected the Matorral, Petate and Pachuca South East deposits as being the most prospective from its point of view, and with the money in the bank drilling is now underway.

“All these projects have structural geological control,” says Rushton.

“We need to know which way the fault is going and that will be the first job of each hole. They need to look at where we are vertically in the epithermal system – you need to know where you are relative to the payshoots.”

So it might not be bonanza grades from the get-go. “The best we can hope for is that we drill straight into a vein,” continues Rushton. “But we might have to drill around a bit.”

But if investors waiting for immediate gratification aren’t instantly satisfied, it’s worth remembering the context in which Prospero is working here.

The old Pachuca mine, not too far from Prospero’s Pachuca South East project, produced around 1.2bn ounces of silver and drove much of the Spanish Empire.

“This is a district that hosts some of the biggest epithermal systems in the world,” says Rushton.

“Tawn’s visited as many of the historic mines in Mexico as he can and looked at them both underground and at surface. If there’s anyone who knows what these things look like at the outset, it’s him.”
 

 

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Mon, 26 Jun 2017 10:55:00 -0400 http://www.proactiveinvestors.com/companies/news/179819/
<![CDATA[News - Prospero Silver Corp kicks off drilling at Matorral project in Mexico ]]> http://www.proactiveinvestors.com/companies/news/179705/prospero-silver-corp-kicks-off-drilling-at-matorral-project-in-mexico-179705.html Project generator Prospero Silver Corp (CVE: PSL) has kicked off drilling at the Matorral project in in the Santa Maria del Oro camp in Durango State, Mexico.

The work is part of a planned 6,900 meter (m) program to test three of Prospero's projects under the terms of its recent strategic investment from Fortuna Silver Mines Inc (NYSE: FSM, CVE: FVI).

The firm plans to sink four holes Matorral, followed by eight holes at its Petate project, and then eight holes at Pachuca SE.

The first hole at Matorral is currently at a depth of around 150 metres from a planned final depth of 400-450m.

The Matorral target, with over 7km of prospective structures, is one of two areas on the 9,066 hectare Santa Maria del Oro claims.

Prospero's sampling has returned silver values from trace up to 460g/t (grams per ton) silver at surface.

Shares are unchanged in Toronto at $0.23.

 

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Thu, 22 Jun 2017 13:42:00 -0400 http://www.proactiveinvestors.com/companies/news/179705/prospero-silver-corp-kicks-off-drilling-at-matorral-project-in-mexico-179705.html
<![CDATA[Media files - Prospero Silver offering investors the 'perfect' high risk / high reward opportunity ]]> http://www.proactiveinvestors.com/companies/stocktube/7667/prospero-silver-offering-investors-the-perfect-high-risk-high-reward-opportunity-7667.html Wed, 21 Jun 2017 10:20:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/7667/prospero-silver-offering-investors-the-perfect-high-risk-high-reward-opportunity-7667.html <![CDATA[News - Project generation serves Prospero Silver well in lean times for junior explorers ]]> http://www.proactiveinvestors.com/companies/news/94065/project-generation-serves-prospero-silver-well-in-lean-times-for-junior-explorers-42343.html When Prospero Silver Corp. (CVE:PSL) announced the signing of a joint venture option agreement with highly respected miner Silver Standard (TSE:SSO) last month, it marked somewhat of a halfway point for the company in executing the current stage of its corporate strategy.

The agreement calls for Silver Standard to spend $3.5 million within three years to earn 51 percent of Prospero’s San Luis del Cordero silver project in Durango State, Mexico, and also to make cash payments to Prospero totaling $1.5 million.  A minimum of 4,000 metres of drilling is required in the first year.

These are unforgiving times for junior explorers, with the raise-and-drill model leaving an increasing number of companies to wither on the vine as they necessarily use up cash in an environment where new capital is scarce.

Enter the project generator approach, a structure whereby a company takes a carefully constructed portfolio of projects through early exploration so that potential partners have a sense of the promise its components hold.

The next step sees a percentage of a given project optioned to another company in exchange for substantial exploration spending, and sometimes also cash payments and other considerations.

Among the benefits is that multiple projects can be moved forward simultaneously, whereas most juniors typically can do just one at a time.  Increased odds of success and shorter time horizons are the result.

Mexico-focused Prospero sealed its first joint venture option agreement last year with Peruvian precious metals producer Hochschild Mining (LON:HOC).

That deal covers Prospero’s Baborigame gold/silver project, where drilling recently commenced.  It calls for Hochschild to spend $3.7 million to earn 51 percent and make $1.9 million in cash payments to Prospero.

The Cordero project optioned to Silver Standard was Prospero’s listing project and has seen close to $3.5 million spent on exploration and drilling thus far.  There are two distinct zones, both of which have been through Phase 1 drilling.

The high-grade zone under and to the west of the historic Santa Rosa mine is rich not only in silver, but also in copper and zinc.  Among drill intercepts reported by the company is 781 grams per ton silver over 2.62 metres, with 1.2% copper and 4.1% zinc.

Splaying away from the historic mine to the east is a lower grade skarn with an average true width of 7 metres.  Grades here are reasonably consistent, with 106 g/t silver, 0.82% copper and 0.70% zinc over 17.3 metres among the holes reported.

Drilling by Silver Standard is likely to focus on these two zones first, and there is potential further east for additional mineralized skarns at the La Puerta target, not to mention a zinc rich area to the south known as the Canal zone.

The balance of the portfolio contains plenty for possible new partners to consider, including the Penasquito look-alike Campana project, the 33,800 hectare Santa Maria project that virtually surrounds a historic high-grade gold mine, and two promising projects on either side of the world famous Pachuca Real del Monte mining district.

“If you have a portfolio of superior projects and the ability to network with the right people, the project generator model is a good way to go in the current market,” says Prospero Silver president, Tawn Albinson, speaking from Mexico.  

“Cordero is a great example of what it requires.  It took 15 years to piece together the claim mosaic.  You can’t just go out and pick these things up.  We are fortunate to have the types of projects people want, but it’s the old story of the overnight success that took 20 years to achieve.”

Albinson’s goal is to have at least two more of Prospero’s properties optioned to strong partners before year-end.  That would leave the company with substantial stakes in four projects enjoying active exploration, four incoming payment streams, and little in the way of ongoing spending requirements to eat into the treasury until at least one of the projects reaches a level of success that marks earn-in for the optionee.

That sudden spending requirement would be a nice challenge to have, and one that Albinson looks forward to facing.

“In Hochschild and Silver Standard, we have top-flight partners with the expertise and capital to move projects forward. If a project is going well they can bring the resources required to really shift it into high gear,” he says.

Halfway there means you still have halfway to go, but Albinson is confident in the quality of his portfolio and in his Mexican team, which has worked together for the past 30 years focused on Mexican geology, both in operating mines as well as in project generation.

“It takes a while to get everything where you want it, but we are hitting our stride now and good deals are getting done,” Albinson affirms.  “Give us several more months and I think you’ll see a firm that can sustain a very busy level of activity with modest capital requirements until we record that major success.”

***Disclosure*** The author of this article has a shareholding in the capital of Prospero Silver. 

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Thu, 04 Apr 2013 13:17:00 -0400 http://www.proactiveinvestors.com/companies/news/94065/project-generation-serves-prospero-silver-well-in-lean-times-for-junior-explorers-42343.html