Vancouver, British Columbia, January 19th, 2021 – Prismo Metals Inc. (CSE:PRIZ) (“Prismo” or the “Company”) is pleased to announce that it has mobilized a crew of geologists to the Company’s Los Pavitos project in Sonora State.
“We are excited to begin the exploration program on our Los Pavitos project, the most significant work undertaken to date,” said Craig Gibson, President and CEO of the Company. “Prismo Metals’ Director Rafael Gallardo and I were accompanied by the geologists in a recent meeting with authorities of the local Ejido that enjoys surface rights to the main area of interest at the project. Access for initial work was granted , and we expect to sign a formal surface access agreement as soon as practicable.”
The Company has planned a four to five-month exploration program that will include comprehensive mapping and extensive sampling of the concession to define drill targets. A LIDAR survey to obtain detailed topography and identify historic mine prospects and structural trends is also planned for the near future.
Past work has identified numerous historic small mines and prospects located along three northeast and northwest-trending property-scale structural corridors extending from outcropping mineralization towards covered areas. Reconnaissance work has identified three main target areas: two lie entirely within the Los Pavitos concession and one is partly covered by a small (200ha) group of internal claims owned by third parties. Historic rock samples from these structures have yielded from 1 g/t over 1.75m to 40.8 g/t gold over 0.3 meters with locally significant silver values. The property is largely unexplored and additional targets are expected to be developed quickly through satellite image analysis and field work.
Los Pavitos has potential for both Epithermal Gold-Silver veins and Orogenic (Shear-hosted) Gold deposits. Epithermal veins are the most abundant mineralization style in the area and several have been located in Los Pavitos. However, the project is hosted by Mesozoic metasediments that are part of older terranes that underlie much of Northwest Mexico and these rocks have been regionally sheared and later intruded by plutons of intermediate composition. Rocks of similar composition and history host several large Orogenic Gold deposits that have been discovered elsewhere in western Sonora and Prismo believes Los Pavitos is also prospective for them.
About Los Pavitos
The Los Pavitos project consists of a 5,289-hectare concession located in the well mineralized Alamos region of southern Sonora State that lies 25 km west of the well-mineralized Alamos District, which encompasses several active exploration and mining projects, including the past producing Alamo Dorado mine of Pan American Silver, the Piedras Verdes mine of Cobre de Mayo and the Alamos and Aurifero vein projects being explored by Minaurum Gold Inc. Infrastructure is excellent with paved highway access, electricity and water. The project, which was generated by Rafael Gallardo, was acquired from Minera Cascabel S.A. de C.V., a Mexican exploration and services company founded by Dr. Peter Megaw, an advisor to the Company (for terms see the Company’s prospectus filed on SEDAR). The Company completed a NI 43-101 Technical Report on the project in March 2021 available on Sedar.
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.
ON BEHALF OF THE BOARD
Craig Gibson, Chief Executive Officer and Director
Prismo Metals Inc.
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
Salvador Miranda, CFO
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including CSE acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.