Palos Verdes drilling program in progress
Vancouver, British Columbia, August 29th, 2022 – Prismo Metals Inc. (CSE: PRIZ and OTCQB: PMOMF) (“Prismo” or the “Company”) is pleased to announce that it has received the data from the LiDAR survey carried out at its Los Pavitos project in Sonora State, Mexico. Preliminary interpretation of the topographic images is ongoing. Several structural features and small mine workings are visible in the data which will help to define the major mineralized structures at the project. The analysis of the data to date has identified several areas with small prospect pits that have not yet been visited or sampled.
Dr. Craig Gibson said: “While our analysis of the LiDAR data has not yet been completed, we are delighted with the results to date. Structural features and small mine workings are clearly visible in the data, and we feel that it will greatly aid in the delineation of important structural trends as part of the process to identify drill targets for a drilling campaign planned in late 2022.”
Geology overlain on the LiDAR map with the Santa Cruz structural zone defined by As assays.
LiDAR map with geology overlay and interpreted mineralized areas in magenta with Au assays. Several small mine workings visible in the data have not yet been visited and sampled. Geologic units are as shown in the previous figure.
Prismo also announced that its 2,000-meter drill program at its Palos Verdes project located in Sinaloa, Mexico is proceeding as planned with the first hole in progress. The Palos Verdes property is contiguous to the Panuco silver-gold project of Vizsla Silver Corp. (TSXV: VZLA). The drilling campaign is expected to last approximately two months.
The drill program is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package. A minimum 2,000-meter program has been contracted with MW Drilling. Previous shallow drilling has intersected high grade mineralization with the best intercept of 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo’s news release dated September 30, 2020).
About the Los Pavitos project
Los Pavitos is an exploration project located in the Álamos area of Sonora State, Mexico. The project consists of one concession, Los Pavitos Reducción, that covers 5,289 hectares. The concession is located on the paved highway between Navajoa and Álamos at about the seventeen-kilometer marker, and the main mineralized area is about six kilometer north of the highway and are reached by unmaintained dirt roads that access local ranches. Several interior concessions owned by third parties cover mineralized occurrences within the boundaries of the Los Pavitos concession.
Mineralization at Los Pavitos consists of quartz veins and stockworks hosted in metasediments, in shear zones and parallel to foliation and crossing foliation. Three mineralized trends have been recognized through limited exploration that has been carried out. Two trends, the NE Santa Cruz trend and the NW Las Auras trend intersect in an area of small mines and prospects on the internal concessions mentioned previously and extend onto the Los Pavitos concession. The NE Omuri trend is parallel to the Santa Cruz trend about two kilometers to the northwest of the intersection of the other trends, and also intersect the La Auras trend.
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.
Contact: Craig Gibson, Chief Executive Officer and Director
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
Jason Frame, Manager of Communications
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.