Prospero Silver (TSXV: PSL; US-OTC: PSRVF) has begun phase two drilling at its Pachuca SE project in Hidalgo State, Mexico, shortly after
Fortuna Silver Mines (TSX: FVI; NYSE: FSM) exercised its option to acquire up to 70% of the project in late 2018. Fortuna can earn its interest in Pachuca SE by spending US$8 million on the project, including at least US$1 million in the first year, and completing a preliminary economic assessment.
Prospero recently mobilized a drill rig to Pachuca and intends to complete a six-hole, 4,200-metre drill program.
The program is a follow up to last years’ drill campaign, which Prospero completed in the first quarter of 2018 with financing from Fortuna. It drilled 1,800 metres across three holes. The company says holes 1 and 3 possibly intersected the tops of two epithermal vein systems, while hole 2 cut three shallow argillic caps and three mineralized veins at depth.
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