PRIZ Closes Private Placement for Gross Proceeds of $1.15M Today, Prismo Metals (PRIZ.c PMOMF) announced the closing of its non-brokered private placement for gross proceeds of $1,147,500.
PRIZ CEO Alain Lambert, welcomed the several new investors saying:
"We look forward to getting the next phase of drilling on the way at our silver project Palos Verdes and finalizing the permitting for the upcoming drill campaign at our Hot Breccia copper project in Arizona."
Significantly, the completion of this financing brings PRIZ one step closer to drilling at the Hot Breccia Project which provides a "rare opportunity to test a highly prospective target in one of the best locations possible".
Coinciding with a bullish precious metals, PRIZ is poised to benefit from both the growing copper and silver market amid demand growing for both metals as the world electrifies.
The Hot Breccia Project
Located in the world famous Arizona copper belt, in close proximity to and with the same geology as, the historic Christmas Mine, Hot Breccia is an underexplored 1,420ha greenfield project with known historic intercepts including 26m @ 0.54%Cu, 20m @ 1.4%Cu, 8m @ 1.73% Cu plus 5m @ 1.4% Cu.
With the potential to host a "very large copper system, potentially akin even to the nearby, monstrous Resolution deposit, which is owned by a Rio Tinto/BHP JV", Hot Breccia could
represent the same geological concept as the nearby colossal Resolution deposit, at depth.
Combined with evidence pointing towards mineralization directly on the other side of an intrusion, PRIZ is likely on the precipice of a substantial discovery as drill permits are about to be issued.
For more information on Hot Breccia, refer to Critical Investor's latest article: https://criticalinvestor.eu/prismo-metals-looking-for-copper-elephants-in-arizona/
The Palos Verdes Project
Additionally, PRIZ intends to use the proceeds from this private placement to fund drilling at its Palos Verdes Project
PRIZ's fully permitted Palos Verde Project is located within the historic Panuco-Copala silver-gold district in Sinaloa Mexico, the same district as Vizsla's discoveries.
Encompassing 22.77 hectares with 6,000m drilled in 33 holes thus far, the project is known for numerous veins with rich historical production and has hit bonanza grade intercepts in the mineralized shoot.
Notably, PRIZ has partnered with Vizsla for Palos Verdes and, having collaborated on the exploration plans, PRIZ is aiming to drill into the system from the top of the hill where an anomaly at depth has been identified using detailed mapping, sampling, and geophysics.
Posted on Behalf of Prismo Metals Inc.