Prince Silver Corp. (formerly Hawthorn Resources Corp.) (CSE:PRNC)(OTC:PRNCF) (‘Prince Silver‘ or the ‘Company‘) is pleased to announce the commencement of a fully funded, 6,500-meter exploration drill program at its flagship Prince Silver Project, a past-producing silver-zinc-gold-lead property. The program is designed to expand known high-grade zones, validate historical drilling, and define the broader mineralized system across the property.
Key Highlights:
- 31 RC holes totaling approximately 6,500 meters are planned in this first phase drilling,
- 129 historical holes (16,607 meters) confirm widespread mineralization and high-grade zones.
- The drill program is fully funded following the closing of two recent financings, totalling over $5.25M CAD
Ralph Shearing, President & Director ‘We’re excited to launch this fully funded drill program at the Prince Silver Project, which we believe holds significant untapped potential. Our work will focus on expanding known high-grade zones, testing new areas and validating historical drilling. With approximately 6,500 meters of drilling planned, and mineralization open in all directions, this program marks a key step in defining the broader mineralized system and positioning Prince Silver as a standout silver explorer in Nevada.’
2025 Drill Program
The program will consist of approximately 6,500 meters of RC drilling across 31 holes. It is designed to validate historical results, increase confidence in historic unpublished resources estimates, and complete infill and step-out drilling within and surrounding the historic resource area. The goal is to advance the project toward a maiden 43-101 resource estimate by testing potential extensions to know mineralization along strike and to depth. The drill program is being conducted by O’Keefe Drilling Company, headquartered in Butte, MT.
The Prince Silver Project hosts a significant polymetallic carbonate replacement deposit (CRD) and a sediment-hosted gold system, with mineralization that is open in all directions and amenable to open-pit mining and deeper underground mining. The project benefits from shallow, high-grade zones and holds potential for valuable manganese by-products.
Initial assay results from the program will be published as they become available from the laboratories, with ongoing results as the drill program progresses into winter.
Figure 1: First drill set up for start of 2025 drill program – Historic Prince Mine headframe in background
Figure 2: Location of the Prince Silver Project, Nevada
PRINCE SILVER PROJECT HISTORIC EXPLORATION
To evaluate the mineral potential of the Prince Project, an exploration target (the ‘Exploration Target’) was outlined in a 2024 independent report prepared following JORC guidelines (JORC standards for the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.) by OmniGeoX Exploration Consultants of Perth, Australia based on historical surface and underground drilling.
The Exploration Target was based on 129 historic drill holes drilled through mineralized carbonate replacement beds and host Pioche Shale up to 500M depth. Mineralized polymetallic intersections based on historical block modelling suggests the immediate Exploration Target is between 25-43Mt with grades ranging as 1.44-1.57% Zn, 0.78-0.87% Pb, 0.003-0.005% Cu, 0.28-0.40g/t Au, 37-40g/t Ag and 3.62 4.30% Mn. The mineralization is open in all directions.
Readers are cautioned that the Exploration Target is not an ‘inferred’, ‘indicated’ or ‘measured’ mineral resource compliant with National Instrument 43-101 (‘NI 43-101’). The Exploration Target has been determined based upon 129 historic drill holes totaling 16,606 meters, historic production records including mine level plans and 3D modelling of mineralization and geology. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.
Previous Drilling & Results
Historical exploration includes 129 drill holes totaling 16,607 meters. Results confirm widespread mineralization and multiple high-grade zones.
*Notable 2014 intercepts:
- 40.8 m @ 0.63 g/t Au, 65 g/t Ag, 1.64% Zn, 3.51% Pb (from 26 m, UDH-55),
- 24.4 m @ 0.47 g/t Au, 80 g/t Ag, 1.64% Zn, 3.52% Pb, (from 87 m, PRC-11)
- 2.4 m @ 11.1 g/t Au, 377 g/t Ag, 26.1% Zn, 4.3% Pb (from 14 m, UDH-53)
Importantly, earlier programs only sporadically assayed the Pioche Shale unit however, where assayed the Pioche Shale returned a number of highly prospective historic results such as,
- 61 m @ 2.1 g/t Au, 38 g/t Ag for (from 69 m, CDH-36)
- 41 m @ 0.7 g/t Au, 68 g/t Ag, 3.3% Zn, 0.61% Pb for (from 26 m, UDH-55)
- 71 m @ 1.4 g/t Au, 51 g/t Ag for (from 192 m, PRC-10)
This agreement is subject to the approval of the CSE.
Qualified Person
Ralph Shearing, PGeol. (Alberta) a qualified person under NI 43-101 and, Director and President of the Company, has reviewed and approved the technical disclosure contained in this news release.
About Prince Silver Corp.
Prince Silver Corp is a silver exploration company focused on advancing the Prince Silver Project in Nevada, USA. The known deposit identified with historic drilling is open in all directions and is near surface. Prince Silver Corp also holds interest in the Stampede Gap Project, a district scale copper-gold-moly porphyry system located ~15km NNM of the Prince Silver Project.
On Behalf of the Board of Directors
Ralph Shearing, Director, President
Email: rshearing@princesilvercorp.com
Tel: 604-764-0965
Website: www.princesilvercorp.com
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as ‘may’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intend’, ‘believe’ and ‘continue’ or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: proposed drill programs, amendments to the Company’s website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this news release.
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