Prospero Silver applies the science of silver vein depth and temperature formation in Mexico
Prospero Silver Corp. (TSX.V: PSL) is a Mexico-focused prospect generator with the aim to discover world-class precious metals projects. They apply a unique blend of practical exploration experience and cutting-edge mineral deposit science to find new gold and silver systems.
Hannah Bernard: Hi, I’m Hannah Bernard, you’re watching Market One Minute, and I’m here today with Ralph Rushton of Prospero Silver. So, Ralph, we know that Prospero Silver is a project generator working in the Altiplano mineral belt in Mexico. Just talk a little bit about that and tell us about the company’s strategy.
Ralph Rushton: Yeah, a project generator, as I’m sure your viewers are aware, are companies that are involved in the earliest stage of discovery. It’s the highest risk end of the exploration process, where the companies will go out and find the new things. The objective then is to sell or joint venture them to a mid-tier or a major company and they will take them forward and incur the big expenses. So, we’re focused on the Altiplano mineral belt in Mexico, it’s a classic belt. It’s produced billions of ounces of silver and it’s a good place to look for new systems.
Hannah Bernard: And, can you talk about your approach to exploration and how it differs from other exploration companies, when they call themselves a project generator?
Ralph Rushton: Well, if you accept that mineral deposits are becoming harder to find, in all the world’s great belts, which they are — the low hanging fruit has all been discovered. Then to find systems that are below the ground that are buried or hidden, you need to apply very strong science and that’s what our team is bringing to it. We’re incorporating the latest sort of cutting edge earth science. In Mexico, in particular, we know that silver veins form in a certain depth below surface and they also form at a certain temperature range. The veins themselves form in a temperature of about 225 to 300 degrees Celsius.
So what we do is we apply microscope techniques that can allow us to determine the temperature of a particular specimen from a vein formed at. And that then allows us to say whether or not we we’re close to the productive horizon of the vein. That’s called fluid inclusion science. It’s quite esoteric and it involves a lot of lab based work. But Tawn Albinson, the president of the company is an acknowledged expert in that aspect of science in Mexico. He’s seen many, many Mexican mineral deposits and he’s consulted for many companies in Mexico. So, he’s bringing the latest thinking to the process. We combine that with boots on the ground exploration, Mexican geologists who get out and do the tough miles. They grew up there. They’re local geologists and they understand the cultural aspects of it. We know that that gives us an advantage for our team over our competition.
Hannah Bernard: And let’s talk about the projects. Any updates that you can share from them?
Ralph Rushton: Well yeah, well we’ve been drilling, and that’s what Gen Explorer should be doing. We have an agreement with Fortuna Silver Mines, a mid-tier producer. They’ve injected two million dollars into the company for us to continue our exploration and our agreement with them was that we would spend 80% of that on drilling, so we’ve been drilling for much of the last year. We’re onto our fourth project and we hope to have results from that probably sometime late August, early September. And from there Fortuna will be selecting one or two projects to take forward as joint ventures.
Hannah Bernard: Okay. And let’s talk about some milestones that investors can look forward to coming in the near future.
Ralph Rushton: The key one for us will be which project Fortuna selects to take forward as a joint venture. Having a company like them involved with operational experience in Mexico is a feather in our cap. We’re very pleased to be partnering with them. And also, the drill results, but also getting back to early stage prospecting. We’ve been focused very much on drilling for the last year, so we want to get back to the generative side of the exploration process.
Hannah Bernard: Well it sounds like some great news flow coming from Prospero Silver. Thanks for being with us Ralph.
Ralph Rushton: Thank you.