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Prize Mining provides Manto Negro copper project update

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Global Mining Review,

Prize Mining Corporation announced 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 mineralisation. Drilling at the El Granizo site has encountered complex faulting that is yet to be fully interpreted as to the impact on mineralisation.

“Our first drill programme at the Pilar Grande and El Granizo areas continues to provide important geological information on the continuity of copper-silver mineralisation”, stated Michael McPhie, President & CEO of Prize Mining. “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 programme.”

As reported on 14 November, 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 mineralisation, 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 mineralised at the same horizon as the first two holes. The main northeasterly trending faults defining this block are therefore interpreted to be pre-mineral and likely played a role in localising metalliferous brines. As such, it is possible that a separate, lower mineralised horizon exists. If the structures are post-mineral, then a simple offset of the mineralisation would be expected.

Due to performance issues, the drilling contractor has been changed and the programme 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 mineralisation 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.

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