Prophecy Announces Complete Assay Results from Pulacayo Step Out Drill Program
Prophecy Announces Complete Assay Results from Pulacayo
Step Out Drill Program
Vancouver, British Columbia, March 6, 2020 – Prophecy Development Corp. (“Prophecy” or
“the Company”) (TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2N) announces that it has recently
completed a 2,598-meter, 16-hole Pulacayo step out drill program.
Significant results of the program are tabulated below:
Hole ID
From
(m) To (m)
Interval
(m) Ag (g/t) Zn (%) Pb (%) AgEq Target
PUD267* 31.5 67 35.5 54.3 4.31 0.92 229.6 West
117 123 6.0 47.8 1.11 0.25 89.7 West
PUD268 21 23 2 20 1.34 0.77 92.6 West
PUD274 75 77 2 93.5 0.42 98.8 East
PUD274 82 83 1 83 0.09 77.4 East
*First published January 21, 2020
Silver equivalent is calculated as follows: Ag Eq. (g/t) = Ag (g/t)*89.2% + (Pb% *(US$0.94/ lb. Pb
/14.583 Troy oz/lb./US$16.50 per Troy oz. Ag)*10,000*91.9%) + (Zn% *(US$1.00/lb. Zn/14.583 Troy
oz/lb./US$16.50 per Troy oz. Ag)*10,000*82.9). This calculati on incorporates metallurgical
recoveries from test work completed for Pulacayo in 2013.
Holes ranged between vertical depths of 70 and 255 meters and were designed to test the possibility
of a shallow extension of the Tajo vein system which currently hos ts the Company’s NI43 -101
compliant indicated resource of 30.4 Moz of silver grading 455 g/t Ag, 3.19% Zn, and 2.18% Pb and
inferred resource of 6.3 Moz silver grading 406 g/t Ag, 2.08% Zn, and 3.93% Pb (see Company’s
press release of November 22nd, 2017). Fourteen holes were collared to the west (Pulacayo-West),
and two holes were collared to the east of the Pulacayo resource boundaries.
PUD267 intercepted 35.5 meters of mineralization and likely expanded the resource westwards by
approximately 80 meters (see the Company’s press release dated January 21st, 2020). However, a
paucity of other significant results is believed to be due to the geological setting of the shallow targets.
While pervasive alteration, along with artisanal mine workings provide key indications that the
hydrothermal system does extend in this direction, the sulphide species that was observed in
intercepted veins and stockworks indicates the hydrothermal temperatures in these upper reaches
of the system were not sufficient to carry sig nificant amounts of silver and base metals, with only
sporadic occurrences being evident at Pulacayo-West.
While the surface footprint of Pulacayo Tajo vein system appear s now to be constrained to
approximately 1.5 km east to west, it’s worth noting that according to detailed Hochschild mining
records from 1914 to 1960, the Tajo vein is observed for over 3km in strike-length, with select high
grade mining taking place mainly b etween a vertical depths of 400 meters and 1,000 meters from
surface via 3 shafts. The Tajo vein system remains open at depth.
Pulacayo-West was drilled first because it is an extension to existing defined Pulacayo resource.
That target is just one of several exploration targets besides Paca North, Pacamayo, Pulacayo
Elephant, Pero, and El Albra within Prophecy’s 35.5sq.km, 100% controlled Pul acayo district land
package.
The Company will shortly announce the start of district exploration and plans to advance the already
defined NI43 -101 resources at Pulacayo and Paca (20.9Moz Ag Inferred grading 256 g/t , see
Company’s press release of November 22nd, 2017)
Collar data for the 2020 Pulacayo shallow extension drilling program is shown below:
Hole ID Azimuth Dip Depth (m) Easting Northing AMSL
PUD267 180 -45 180 739823.4 7744735 4336
PUD268 180 -45 192 739866 7744723 4366
PUD269 180 -45 210 739750 7744727 4321
PUD270 0 -45 201 739626 7744618 4284
PUD271 180 -45 156 739670 7744655 4293
PUD272 180 -45 300 739540 7744860 4329
PUD273 180 -45 201 739343 7744869 4385
PUD274 200 -65 95 741031 7744391 4237
PUD275 180 -45 161 739481 7744625 4357
PUD276 0 -45 201 739467 7744416 4267
PUD277 21 -55 72 741196 7744229 4181
PUD278 0 -45 120 739170 7744599 4317
PUD279 180 -45 130 737933 7744679 4346
PUD280 0 -45 113 739024 7744538 4344
PUD281 0 -45 180 739661 7745113 4396
PUD282 0 -45 86.4 739180 7744380 4296
Qualified Person
The technical contents of this news release have been prepared under the supervision of Danniel
Oosterman, VP Exploration. Mr. Oosterman is not independent of the Company in that he is
employed by it. Mr. Oosterman is a qualified person (“QP”) as defined by the guidelines in NI 43 -
101. Prophecy adopts industry-recognized best practices in its implementation of QA/QC methods.
A geochemical standard control sample and a blank sample are inserted into the sample stream at
every 20th sample. Duplicates are taken at every 40th sample. Standards and duplicates (including
lab duplicates and standards) are analyzed using Thompson -Howarth plots. Samples are shipped
to ALS Global Laboratories in Ururo, Bolivia for preparation and then shipped to ALS Global
laboratories in Lima, Peru for analysis. Samples are analyzed using Intermediate Level Four Acid
Digestion. Silver overlimits (“ore grade”) are analyzed using fire assay with a gravimetric finish. The
ALS Laboratories sample management system meets all the requirements of International Standards
ISO/IEC 17025:2017 and ISO 9001:2015. All ALS geochemical hub laboratories are accredited to
ISO/IEC 17025:2017 for specific analytical procedures.
All samples are taken from HQ -diameter core and split in half by a diamond -blade masonry saw.
One-half of the core is submitted for laboratory analysis and the other half is preserved for reference
at the Company’ s secured core facility. Prior to sampling, all core is geotechnically analyzed and
photographed and then logged by geologists.
About Prophecy
Prophecy is developing its premier Pulacayo silver project in Bolivia. Further information on Prophecy
can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“Michael Doolin”
Chief Executive Officer
For more information about Prophecy, please contact Investor Relations:
+1.604.569.3661 ext. 101
[email protected] www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or ac curacy of
this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words
such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions,
and statements related to matters which are not historical facts, are forward -looking information
within the meaning of applicable securities laws. Such forward -looking statements, which reflect
management’s expectations regarding Prophecy’s future growth, results of operations, performance,
business prospects and opportunities, are based on certain factors and assumptions and involve
known and unknown risks and uncertainties which may cause the actual results, performance, or
achievements to be materially different from future results, performance, or achievements expressed
or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the
Prophecy’s forward-looking statements. Prophecy believes that the expectations reflected in the
forward-looking statements contained in this news release and the documents incorporated by
reference herein are reasonable, but no assurance can be given that these expectations will prove
to be correct. In addition, although Prophecy has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those described in forward looking
statements, there may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. Prophecy undertakes no obligation to release publicly any future revisions to
forward-looking statements to reflect events or circumstances after the date of this news or to reflect
the occurrence of unanticipated events, except as expressly required by law.