Prismo Metals Inc. (Ticker: PRIZ.c or PMOMF for US investors) is a mining exploration company which controls two precious metal projects in Mexico and a copper project in Arizona's copper belt.
PRIZ's Palos Verdes Silver/Gold Project is situated in Mexico's Panuco Copala district, covering 22.7707 hectares. The property is characterized by andesitic volcanic rocks, overlain by felsic tuffs to the northeast, hosting two main veins: the northeasterly trending Palos Verdes vein and a northwesterly trending vein.
Exploration History and Plans
To date, 3,100 meters of HQ drilling in 18 holes have been completed at the project, with only 35% of the 750-meter strike length tested. Drilling revealed well-formed vein material, with higher-grade sulfide-rich intervals. Notable assays include 8.42 g/t Au and 2335.98 g/t Ag over 1.15 meters and 12.15 g/t Au and 50 g/t Ag over 1.1 meters. The ongoing exploration aims to identify an ore shoot along the vein system.
PRIZ plans to commence an expanded drilling program at Palos Verdes, targeting 3,600 meters across ten holes, focusing on the Palos Verdes vein at depth.
Strategic Partnership with Vizsla Silver
The Palos Verdes project is located in the eastern area of the Panuco District, adjacent to Vizsla Silver Corp.'s (Ticker: VZLA.v or VZLA) Panuco Silver-Gold Project. This geographical closeness has led to a strategic relationship between the two companies. On January 9, 2023, Vizsla Silver Corp. made a significant move by investing in Prismo Metals Inc.
In addition to the financial aspects of the deal, the two companies agreed to form a technical committee. This committee is tasked with pursuing district-scale exploration of the Panuco silver-gold district.
Following the completion of the strategic investment, Vizsla now owns 10.08% of the issued and outstanding Prismo Shares on a non-diluted basis and 14.4% of the Prismo Shares on a partially-diluted basis. This strategic investment signifies Vizsla Silver Corp.'s commitment to the long-term future of the Panuco-Copala district.
Today's News: Neighboring Findings
Today, Vizsla Silver Corp. announced significant results from its drilling program at the Copala resource area within the Panuco project. The company reported exceptionally high-grade intercepts, with one drill hole hitting 9,920 grams per tonne (g/t) silver and 663 g/t gold over a true width of 0.64 meters.
This marks the highest grade intercept ever recorded at the Panuco project, displaying the potential of the Panuco District which also includes Prismo's Palos Verdes Project.
Full news here: https://www.newswire.ca/news-releases/vizsla-silver-hits-visible-gold-in-highest-grade-intercept-ever-at-panuco-9-920-g-t-silver-amp-663-g-t-gold-over-0-64-metres-true-width-at-copala-807208349.html
Posted on behalf of Prismo Metals Inc.