In a recent interview posted on the Goldfinger Capital YouTube channel, the management team of Prismo Metals Inc. (CSE: PRIZ, OTCQB: PMOMF) provided detailed insights into their exploration activities and future plans. This growth-stage exploration company is focused on developing high-grade copper and gold projects in Arizona and Mexico. Led by experienced mining professionals, Prismo Metals aims to create shareholder value through strategic acquisitions and explorations.
Prismo Metals has three key projects: Hot Breccia in Arizona, Palos Verdes in southern Sinaloa, Mexico, and Los Pavitos in southern Sonora, Mexico. Each project offers unique opportunities for discovering valuable mineral resources.
Share Structure and Management Compensation
Prismo Metals has a tight share structure with only 53 million shares outstanding. Insiders own 27.5% of the company, ensuring alignment of interests. Unlike typical junior exploration companies, Prismo Metals does not pay fixed salaries to its management. Instead, compensation is based on successful geological work, minimizing overhead and preserving capital for exploration.
Steve Robertson on Hot Breccia Copper
Steve Robertson, Prismo's President, has a strong background in exploration geology. He emphasized the potential of the Hot Breccia project, located in a region known for world-class copper deposits. The project's proximity to Phoenix and existing infrastructure enhances its attractiveness. Historical drilling has shown high-grade mineralization, and modern exploration techniques are now being applied to unlock its full potential.
Exploration Strategy and Drilling Plans
Prismo Metals plans to drill five 1,000-meter holes at Hot Breccia to test the depth and extent of the mineralization. The ZTEM survey has already indicated a large conductive anomaly at depth, suggesting significant copper mineralization. The drilling program aims to confirm and expand upon historical findings.
Palos Verdes and Relationship with Vizsla
The Palos Verdes project, located in the Pnuco-Copala silver-gold district, has shown promising high-grade silver and gold results. Prismo Metals has a strategic relationship with Vizsla Silver, which owns nearly 10% of Prismo. A joint technical committee oversees the exploration plans, and further drilling is scheduled to begin in July.
Los Pavitos Project
Los Pavitos, an orogenic gold project in Sonora, Mexico, also shows significant potential. The maiden drill program yielded impressive results, including 10.4 g/t gold over 6.12 meters. The next steps involve systematic exploration to define the project's full potential.
Risk and Reward
Exploration carries inherent risks, but Prismo Metals mitigates these through careful planning and leveraging management's extensive experience. The company's diversified portfolio of projects reduces dependence on any single asset, providing multiple avenues for potential success.
Upcoming News Flow
Investors can expect a steady stream of updates throughout 2024. Key upcoming milestones include obtaining the drilling permit for Hot Breccia, commencing the drilling program, and ongoing exploration results from Palos Verdes and Los Pavitos. These developments will provide crucial insights into the company's progress and the potential of its projects.
Prismo Metals presents a compelling opportunity for investors interested in high-grade copper and gold exploration. With a focused strategy, experienced management, and promising projects, the company is well-positioned to make significant discoveries and create substantial shareholder value.
Full interview here:
Posted on behalf of Prismo Metals Inc.