Prudent Minerals Independent Technical Report Discloses Exploration Target of up to 6.3 MT and Potential High Grades at its ABE Gold Project
Vancouver B.C., March 2, 2023 – PRUDENT MINERALS CORP. (“Prudent” or the “Company”) (CSE: PRUD) is pleased to announce, in accordance with National Instrument 43-101 (“NI 43-101”) it has filed an independent Technical Report entitled “ABE Gold Project, Department of Antioquia, Republic of Colombia” by Qualified Person (“QP”) Warren D. Robb, P.Geo. (BC) with an effective date of December 17, 2022. The Technical Report is available for review on SEDAR (www.sedar.com) and on the Company’s website (www.prudentminerals.com). The ABE Project is under option to Berlin Precious Metals Corp., which is being acquired by the Company as previously announced December 30, 2022.
The ABE project lies adjacent to Romeral Fault system and the Middle Cauca Metallogenic Belt of north central Colombia approximately 70-km south of the city of Medellin. The Middle Cauca Belt hosts several large-scale gold and copper-gold deposits (refer to Figure 1).
ABE hosts an exploration target which is estimated to be up to 6.3 million tonnes with potential grades of 5.0 to 15.0 g/t gold based on certain assumptions:
- The size and extent of the historic workings, which occur between 1,600m and 1,350m ASL.
- A strike length of 800m was used of the 1600m outlined by the coincident NE trending workings, Magnetometer and Induced Polarization resistivity responses.
- Four underground quartz veins displaying widths of 1.0 to 3.0m, an average dip of -65° resulting in estimated true widths of 0.90 to 2.90m of all veins.
- A specific gravity of 2.72 is estimated for the quartz.
The QP specified the exploration target potential quantity and grade is conceptional in nature, that there has been insufficient exploration to define mineral resources and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. As such, readers are cautioned that the quantity and grades indicated herein may not be realized through the Company’s exploration activity and the foregoing is provided for context only. Readers should refer to the NI 43-101 report.
Extensive soil geochemistry and geophysical programs were conducted from November 2021 through to October 2022. A total of 167 samples were tabulated from surface, underground and mill feed or concentrate sampling. Elevated gold values have been returned from sampling with 131 of the 167 samples collected thus far returning values greater than 1 gram per tonne of gold. Highlights include: 162.00 g/t gold over 1.0m, 80.37 g/t gold over 1m and 97.33 g/t gold over 1.0m.
Figure 1. ABE Gold Project in Colombia.
Figure 2. Purimac mine and seven historical workings.
"Prudent is very pleased to acquire the ABE Gold project with the independent technical report outlining an impressive exploration target of up to 6.3 million tonnes with potential high grades up to 15.0 g/t gold, clearly demonstrating the large-scale potential,” commented Prudent president Brett Matich.
"Prudent is currently focussed on defining the strike potential and continuation of the Purimac gold vein system from the underground mine to surface, initially through an extensive soil geochemistry program, also advancing delineation of drill targets,” he concluded.
ABE Gold Summary
The ABE Gold project is located approximately 70-km south of Medellin Colombia, covering an area of approximately 4,500 hectares including the Purimac gold mine. Prudent will have exclusive rights to earn 100% of the ABE project through the acquisition of Berlin Precious Metals Corp. which is anticipated to close within the next fiscal quarter.
So far, exploration was designed to enhance the understanding of the gold mineralization currently exploited at the Purimac gold mine. The rock sampling at the mine has shown that the quartz veins are hosting gold mineralization with values that have exceeded 100 g/t gold over 1.8m.
The Purimac veins appear continuous and are projected with orientations that are coincidental with seven historical workings (refer to Figure 2), soil geochemistry, ground magnetics and induced polarization resistivity responses. This coincidental trend extends over 1,600m and spans a width of approximately 680m and is open in all directions.
An extensive soil chemistry program is underway over the 1,600m by 680m zone, with the objective of extending the underground Purimac gold vein system and advancing delineation of drill targets (refer to Figure 3).
Figure 3. Purimac 1,600m by 680m gold target zone.
The Company’s disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, P Geo (British Columbia), who serves as a qualified person under the definition of National Instrument 43:101.
About Prudent Minerals Corp.
Prudent Minerals Corp. is a Canadian publicly listed company conducting exploration on its SAT Property in British Columbia, Canada. On April 18, 2022, Prudent commenced trading on the Canadian Securities Exchange (CSE: PRUD) as a national resource company engaged in primarily acquisition, exploration and, if warranted, development of mineral properties.
Prudent Minerals is managed by proven resource sector professionals, who have a track record of advancing exploration projects from early stage through to production.
For more information visit: https://www.prudentminerals.com/
For additional information contact:
P. (+1) 604 290 8100
The Canadian Securities Exchange has not reviewed or approved the content of this news release and accepts no responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the Canadian Securities Exchange There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for Prudent Minerals Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.