Prophecy Development Corp. (TSX:PCY,OTCQX:PRPCF) released an independent mineral resource estimate for its Bolivia-based Pulacayo silver-zinc-lead project. The indicated resource sits at 1.27 million tonnes grading 530 g/t silver, 3.63 percent zinc and 2.51 percent lead for a total of 688 g/t silver equivalent.

As quoted in the press release:

1. Mineral resources are estimated in conformance the CIM Standards referenced in NI 43-101.
2. Raw silver assays were capped at 1,700 g/t, raw lead assays were capped at 15% and raw zinc assays were capped at 15%.
3. Silver equivalent Ag Eg. (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%).
   Metal prices used in the silver equivalent calculation are US$16.50/Troy oz. Ag, US$0.94/lb Pb and US$1.00/lb Zn. Metal recoveries 89.2% Ag. 91.9% Pb. 82.9% Zn. used in the silver equivalent equation reflect historic metallurgical results disclosed previously by Apogee Silver Ltd.
4. Metal grades were interpolated within wireframed, three dimensional silver domain solids using Geovia-Surpac Ver. 6.6.1 software and inverse distance squared interpolation methods. Block size is 10m(X) by 10m(Z) by 2m(Y). Historic mine void space was removed from the model prior to reporting of resources.
5. Block density factors reflect three dimensional modeling of drill core density determinations.
6. Mineral resources are considered to have reasonable expectation for economic development using underground mining methods based on the deposit history, resource amount and metal grades, current metal pricing and comparison to broadly comparable deposits elsewhere.
7. Rounding of figures may result in apparent differences between tonnes, grade and contained ounces.
8. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
9. ^*Mineral resource statement cut-off value; resource statement values are presented in bolded form.
10. ^**Tonnes are rounded to nearest 10,000.

Click here to read the full Prophecy Development Corp. (TSX:PCY,OTCQX:PRPCF) press release.