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Prospero Silver gets green light from TSX Venture Exchange for Buenavista option

To exercise the option and earn 100%, Prospero must issue 750,000 shares to Altiplano..
Prospero Silver gets green light from TSX Venture Exchange for Buenavista option
Precious metal group Prospero aims to discover world-class projects in the major mineral belts of Mexico

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).

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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