Prize Mining Reports Results From Diamond Drilling At Manto Negro Copper Project

 

VANCOUVER - Prize Mining reported that step-out diamond drill holes at the Pilar Grande area of the Manto Negro Copper Project in Coahuila State, Mexico continues to intersect copper-silver mineralization.  Drilling at the El Granizo site has encountered complex faulting that is yet to be fully interpreted as to the impact on mineralization.

"Our first drill program at the Pilar Grande and El Granizo areas continues to provide important geological information on the continuity of copper-silver mineralization", said Michael McPhie, President & CEO.  "In detail, the areas are more structurally complex than we had anticipated but our geologists are working on an interpretation that will help guide our ongoing drill program."  

The first two holes from each of the El Granizo and Pilar Grande Mine areas intersected consistent thicknesses and relatively consistent grades of copper and silver.  Holes DDHDI-18-03 and 05 at Pilar Grande intersected similar mineralization, while hole DDHDI-18-04 returned no significant values.

At El Granizo, holes DDHMN-18-03 to 07 appear to have been drilled within a fault block that is not mineralized at the same horizon as the first two holes.  The main north-easterly trending faults defining this block are therefore interpreted to be pre-mineral and likely played a role in localizing metalliferous brines.  As such, it is possible that a separate, lower mineralized horizon exists.  If the structures are post-mineral, then a simple offset of the mineralization would be expected.

Due to performance issues, the drilling contractor has been changed and the program is continuing with a single rig at the moment with a new contractor.  Performance has improved significantly as a result of this and production expectations are being met or exceeded on a daily basis.   A second rig may be added in the New Year.

Copper-silver mineralization on the Manto Negro Project belongs to the category of sediment-hosted stratabound copper deposits, similar in style to the world class deposits of the Kupferschiefer in Poland.

The analysis completed on all samples was the 32 Element Package by 4-acid digestion and Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) (package GE-ICP40B).  Samples with Cu or Pb over the upper detection limit of 10,000 ppm were re-analyzed by Sodium Peroxide Fusion and ICP-OES (package GO-ICP90Q).  Samples with Ag over the upper detection limit of 100 ppm were re-analyzed by Lead Fusion Fire Assay with Gravimetric Finish (package GO-FAG313).