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Prize Mining update on Manto Negro Oxide Copper Project

Mining News - Published on Fri, 16 Mar 2018

Image Source: SteelGuru
PRIZE MINING CORPORATION announced that it has now received complete assay results from the initial sampling program on its Manto Negro Copper Project located in Coahuila State, Mexico. The December 2017 sampling campaign was conducted as a 'first-pass' evaluation of some of the more prominent exposures of copper on the Don Indio, Madero and Granizo mining concession blocks. Mapping and sampling has characterized the mineralization as belonging to the category of 'red-bed type' copper deposits, similar in style to the world class deposits of the Zambian Copper Belt in Africa and the Kupferschiefer in Poland. Silver has also been identified as an important constituent of the mineralization at Manto Negro.

Highlights

1. 2.61% Cu and 212g/t Ag over seven meters from the Pilar Grande Mine

2. 5.53% Cu and 711g/t Ag across 0.30 meters from Level 4, Pilar Grande Mine

3. 45.5% Cu and >1,500g/t Ag across 0.25 metres at Los Ojitos

Mr Michael McPhie, President and CEO of Prize Mining stated that "We are very pleased with the high grades of copper and silver from our preliminary sampling program," he added that "as the results are consistent with those found in red-bed deposits around the world. Another significant feature of these deposits is that they are laterally extensive over many kilometers, and our next step will be to characterize and explore the almost 18,000 hectares of the Manto Negro Project."

A total of 52 channel and panel samples were collected through different mine levels at the Pilar Grande Mine. Four samples at the Pilar Grande deposit exceeded the five percent (50000 ppm) Cu detection limit and nineteen exceeded the 200g/t (200 ppm) Ag detection limit (refer to Prize Press Release of February 28, 2018). In addition to channel sampling, four chip samples were collected from significant outcrops at the Pilar Grande Mine, Manto Negro deposit and Ojitos Open pit, historical mine workings.

Source :

Posted By : Rabi Wangkhem on Fri, 16 Mar 2018
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