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Prospero Silver Corp.
Summary
| Project: | San Luis Del Cordero | |
|---|---|---|
| Deposit: | San Luis Del Cordero | |
| Location: | Mexico | |
| Commodities: | Silver-Copper-Zinc | |
| Date: | 10/7/2014 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-10-2014: Prospero Silver Corp. announces a Resource Estimation report for its San Luis Del Cordero deposit at the San Luis Del Cordero project. Initial mineral resource estimate for San Luis del Cordero project. Prospero Silver Corp. (“Prospero” or “The | |
| Resources: | (Resource): 662625t @ 239.9g/t AgEq. (Ind.) and 2.785Mt @ 273.0g/t AgEq. (Inf.) | |
| CP/QP: | [Resources]: Terence Wesley Hodson (Hodson Geological Ltd.) | |
| ABSTRACT: | Prospero Silver Corp. (“Prospero” or “The Company”) through its Mexican subsidiary Minera Fumarola, S.A. De C.V. (“Fumarola”) holds an option to earn 100% in the San Luis Del Cordero Project (“SLDC” or “Cordero”). The property is located immediately north of the town of San Luis del Cordero, Durango State, Mexico and consists of six (6) mineral concessions totaling 2825 hectares. On August 29, 2008 Prospero signed a letter of agreement with Exploraciones Del Altiplano, S.A. Del C.V. (“Altiplano”) providing an option for Prospero to earn a 100% interest in Altiplano’s San Luis del Cordero project. Subsequently on May 14, 2009 and July 10, 2009 the agreement was amended. The final terms of the Option Agreement and amendments provide Prospero the ability to earn a 100% interest in the San Luis del Cordero property. Prospero will issue 50,000 shares on or before September 13, 2014; 100,000 shares on or before March 13, 2015; 100,000 shares on or before September 13, 2015; and 600,000 shares on or before March 13, 2016 a s outlined in Table 6.2. The Mexican partner (Altiplano) will receive 2% NSR which can be bought down to 1.5% by paying US$500,000 within 3 years of the decision to exercise the option. | |
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