VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/24/13 -- Prospero Silver Corp. (TSX VENTURE: PSL) ("Prospero" or the "Company") is pleased to announce that it has acquired by staking the 7,256 hectare Pachuca SE project located 24km southeast along strike of the historic veins of the Pachuca-Real del Monte mining district (Figure 1). This new project acquisition is part of a systematic exploration program in the Mexican Altiplano and reflects Prospero's strategy of creating value as a Mexico-focused project generator. Pachuca SE will be added to the Company's portfolio of 100% owned projects available for joint venture.
Pachuca SE is located within the same regional-scale sequence of volcanic rocks of predominant intermediate composition (The Pachuca Group) which hosts the historic Pachuca-Real del Monte mining district (Pachuca Mine) (Geyne et. al., 1963: Consejo de Recursos Minerales No Renovables Publication 5E, 203 p). The Pachuca Mine represents the second largest epithermal deposit in Mexico with total production estimated in the order of 80 M tons with an average grade of 500 g/t Ag, and 2.5 g/t Au (Albinson et. al., 2001: SEG Special Publication Series No. 8, p. 1-32).
The Pachuca SE geology is typical of a high level epithermal environment with the following characteristics:
-- Location along strike of one of the world's largest epithermal precious metal deposits;-- Attractive gold and silver high level geochemistry when compared to the geochemical signatures of the Vizcaina structure above the Pachuca Mine;-- A similar assemblage of clay minerals in the argillic alteration cap of both systems;-- Association with a more felsic volcanic pile than the Pachuca-Real del Monte host rocks;-- An erosional window that exposes several structures for a length of 5km across the system.
The Company has completed detailed mapping, semi-systematic sampling and clay mineral analysis (both SWIR and XRD) on the property within an area of 5km x 2km where high level epithermalism is exposed. This is within a north-northwest oriented and elongated erosional window of the Pachuca Group which is otherwise covered by post-hydrothermalism cinder-cone volcanism of the younger basalts of the Neovolcanic series.
The Pachuca Group in the area of the historic Pachuca Mine consists predominantly of a thick pile of andesitic volcanics. In the Pachuca SE area the volcanic pile is more felsic in composition consisting primarily of dacite tuffs, pyroclasitic flows and lapilli tuffs, and overlying rhyolite ignimbrites. In the northern sector of the Pachuca SE project both dacite plugs and dikes intrude the volcanics and in the southern Cerro Varal sector, a vertically banded commonly spherulitic rhyolite dike/dome phase intrudes the rhyolite ignimbrites (Figure 2).
Northwest and east-west striking structures and alteration zones have been mapped and sampled where exposed in outcrop. These occur in shallow mines, in open cuts of road building material and in open pits which are actively being mined for clay. The strike length of the structures and alteration zones, recognized to date, range from 600m to 2,200m. Some may be significantly longer in that they are covered by the younger volcanics both to the east and west (Figure 2). The structures dip both to the north and south and tilt the host rocks predominately to the north.