Canada-based Prize Mining has started its exploration programme on its recently acquired Manto Negro property in Coahuila, Mexico.
Manto Negro is a sediment-hosted stratiform copper-silver-lead-zinc deposit, covering 17,959ha and spanning 50km in length.
It is reported that there are more than 35 showings on the property that have been sampled, trenched and drilled in the past, including a number of historic mines with several levels of production.
The company noted that mineralisation is associated with the contact of the clastic (Redbed) sediments of the San Marcos formation and the overlying limestone of the Cupido formation similar to that found in the Zambian Copper Belt and the Kupfershiefer district in Germany and Poland.
Prize Mining chief executive officer Feisal Somji said: “This is an exciting time for Prize Mining as we begin to explore our newly acquired Manto Negro copper project in Mexico.
“We are employing the same district wide approach we’ve built out with our Kena Gold project in British Columbia.
“With the world increasingly looking to electricity as a primary way to power all aspects of our lives and economy and copper being a fundamental part of the infrastructure of this, the timing of our exploration and development of Manto Negro could be fundamental to creating increased shareholder value.”
Last December, geological team began a re-sampling programme at its Don Indio Claim at the Pilar Grande mine and in the eastern portion of its Granizo claim.
The Pilar Grande mine consists of four different levels with more than 1,000m of underground historical workings.
At the mine samples were taken across 14 channels on levels three and four.
It is reported that the manto type mineralisation is 20m thick in this area, with 8m of this in limestone and 12m in sandstone.
In December last year, 300m along-strike was sampled at the Granizo claim, where copper outcrops in the area are approximately 8m-thick. Granizo is 17km south of the Don Indio claim.
A new field camp was established, as part of the December work programme, and 14.5km of road were rehabilitated to provide the logistical infrastructure needed for the 2018 work programme.
Samples from the work were sent to ALS Laboratories and assay results are expected to be released over the next two weeks.