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GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) announces that the Abra Base Metals Mine (“Abra” or the “Mine”) has updated its JORC Code 2012 Mineral Resource Estimate (“July 2023 Resource” or “MRE”). This update is the first MRE annual update including all underground diamond drilling up to 5 May 2023, and all underground geological mapping, and mining and processing up to 30 June 2023.
HIGHLIGHTS
- Revised total Abra MRE of 33.4Mt at 7.1% Pb and 17g/t Ag (5% Pb cut-off grade):
- Measured 0.3Mt at 7.3% Pb and 32g/t Ag,
- Indicated 16.2Mt at 7.3% Pb and 19g/t Ag,
- Inferred 16.9Mt at 6.9% Pb and 15g/t Ag.
- No material difference from the previous MRE (April 2021), supporting Abra’s long-term mining plans.
- Includes 26,277m (163 holes) of underground diamond drilling, geology mapping associated with 7,319m underground development, and includes mining depletion.
- Identification and understanding of potential new lead and silver mineralisation associated with Carbonatic Dome structures within the Apron Zone and strong conversion of Inferred Mineral Resources to Indicated Mineral Resources in the eastern end of the mine.
Managing Director, Tony James commented, “The updated Abra MRE reflects substantial work achieved at Abra over the last 12-months, greatly improving the understanding of the deposit. Importantly, it shows no material difference from the April 2021 MRE, and therefore continues to support our long-term mining plans. The Resource update work also confirms that mining and processing grades seen during Abra’s commissioning and ramp-up, which is dominated by mine development, are not representative of the total MRE at Abra. As mining areas open- up, grades through the mill continue to improve, particularly as we move away from the upper northern margin near the Abra Fault.”
SUMMARY
Since June 2022, 26,277m (163 holes) of underground diamond NQ drilling has been completed and during commissioning and ramp-up of the mine, 325,924 tonnes at 4.8% lead and 20g/t silver has been mined and processed (note the early stages of mining is development focussed with 244,332t (75%) associated with development which is subject to a mining cut-off grade of 3.3% lead). Material mined and processed also includes both high-grade and sub-grade material produced during commissioning and early stages of ramp-up. A total of 7,319m of underground development has also been completed to 30 June 2023 in the Apron Zone section of the ore body allowing access for detailed mapping and geological interpretation.
The 2023 Mineral Resource estimate (MRE) takes into account the ore losses seen on the upper- northern margin of the orebody, as outlined in April 2023 (see Galena ASX announcement of 20 April 2023).
To complete and update the 2023 MRE with the latest technical understanding and confidence, drilling data was cut-off on 5 May 2023 and mine production data cut-off on 30 June 2023. Table 1 (below) states the Abra July 2023 Resource at a 5.0% lead cut-off grade, as at 30 June 2023. The July 2023 Resource has been independently reviewed by Snowden Optiro Pty Ltd (“Snowden Optiro”).
Table 1: Abra JORCMineral Resource estimate at 5% Pb cut-off grade(July 2023 MRE)1
Notes: 1. Calculated using ordinary kriging method at a 5.0% lead cut-off grade. Tonnages are rounded to the nearest 100,000t, lead grades to one decimal place and silver to the nearest gram. Rounding errors may occur when using the above figures.
The previously published MRE is dated April 2021 (5% lead cut-off grade) based entirely on surface drilling and interpretation, and comprised a total of 34.5Mt at 7.2% lead and 16g/t silver (see Galena ASX announcement of 28 April 2021).
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This article includes content from Galena Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
G1A:AU
Abra Construction At 97% Complete – First Ore Stockpiled For January Processing
Managing Director, Tony James commented, “Record underground development in November with delivery of the first 9,000t of ore to the ROM pad along with successful plant commissioning to date puts Abra on the verge of a quick transition into production. Recruitment and other operational readiness activities are well advanced in preparation for January production”.
Figure 1 – First material being tipped into the crusher during commissioning (Photo 26 November).
Figure 2 – Crushing and screening plant commissioning (Photo 26 November).
The following link will show a short video of the Abra crusher commissioning. https://youtube.com/shorts/iSG58MiW_3o
Update on Abra Project progress
Overall progress continues as planned, with first concentrate production expected in Q1 CY2023, following ore commissioning in January 2023. Practical completion of the processing plant is now expected ahead of schedule in December 2022. The processing plant engineering, procurement and construction has reached 99% complete. Piping and electrical works have made significant progress and at the end of November were 96% and 92% complete, respectively. Mechanical items installation is almost complete at 99%.
In November, the first material was crushed and screened as part of the staged commissioning process. The crushing plant ran at design capacity and all commissioning milestones were successfully achieved. Dry commissioning also progressed in most areas of the plant including water and air services, tailings and concentrate thickening, grinding and reagents. Dry commissioning of the remaining areas will be completed in December. Water commissioning commenced in the tailings and concentrate thickening areas of the plant and the remaining areas are expected to be wet commissioned by the end of December. The remaining commissioning schedule is unchanged from the last update and is shown below in Table 1.
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This article includes content from Galena Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Anteros Metals
Investor Insight
Anteros Metals offers investors exposure to a diversified portfolio of critical and base metal projects in Newfoundland and Labrador, advanced through a proprietary, data-driven exploration approach. By combining high-probability targeting with assets at multiple stages of development, the company reduces exploration risk, accelerates discovery timelines, and positions itself to benefit from the rising demand for metals essential to the global energy transition.
Overview
Anteros Metals (CSE:ANT) is a Canadian junior exploration company focused on discovering and advancing high-value mineral deposits across Newfoundland and Labrador. The company’s 100 percent owned portfolio spans 2,775 hectares and hosts nine commodities, including copper, cobalt, nickel, manganese, zinc, and other metals critical to clean energy technologies and industrial growth. Five of these are designated as critical minerals by the Canadian government, underscoring the strategic importance of Anteros’ asset base.
At the core of Anteros’ strategy is the use of proprietary data science techniques to integrate historical exploration records with modern geoscientific data. This approach enables the company to identify the most prospective targets before committing to extensive fieldwork, reducing costs, shortening timelines and increasing the probability of discovery. The portfolio is deliberately balanced across the exploration cycle – from early-stage prospecting at Hopedale to advanced exploration at Knob Lake – ensuring a continuous pipeline of projects that can move toward development while maintaining investor exposure to new discovery potential.
Anteros’ operations benefit from Newfoundland and Labrador’s long history of mineral production, a supportive regulatory framework and established infrastructure. The company’s focus on high-grade, infrastructure-accessible deposits provides strong economic leverage, while its experienced leadership team, with over a century of combined exploration, mining, and financial expertise, is well equipped to execute on its growth strategy. By combining technological innovation with geological expertise, Anteros Metals is positioned to deliver long-term shareholder value through discovery, development, and strategic partnerships.
Company Highlights
- Four 100 percent owned properties in Newfoundland and Labrador targeting critical and base metals including copper, cobalt, nickel, manganese, zinc and others vital to green technologies.
- Flagship Knob Lake iron-manganese project: advanced exploration stage with historical resource; strategically located near Schefferville, Québec, and adjacent to major iron ore infrastructure.
- Havens Steady VMS project: new 2025 sampling confirms the prospectivity and strike extension potential of the Main Mineralized Zone; road accessible and situated in a proven polymetallic district.
- Strickland project: seven mineralized zones with significant silver-lead-zinc and gold potential; located near the Hope Brook gold deposit.
- Hopedale Project: nickel-copper-cobalt focus, 80 km south of Voisey’s Bay, with untested EM conductors and unexplained geochemical anomalies.
- Portfolio spans early to advanced exploration stages, ensuring a steady pipeline of project advancement and diversified commodity exposure.
- Leadership team with over a century of combined experience in exploration, mining and financial markets.
Key Projects
Knob Lake
Located within the Western Labrador Trough, just 2.5 km south of Schefferville, Québec, Knob Lake is Anteros’ flagship advanced exploration project. This superior-type iron deposit is hosted in the Sokoman Formation, a geological unit well known for high-grade direct shipping ore (DSO) potential, often exceeding 60 percent iron.
Historical work includes 2,746 metres of diamond drilling, which delineated a resource estimate of 5.08 million tonnes grading 54.7 percent iron (measured and indicated) and 643,800 tonnes grading 51.5 percent iron (inferred)1. Although this estimate is historical in nature, it underscores the scale and quality of the deposit, which remains open along strike and at depth.
The property’s proximity to Tata Steel’s Timmins mine and other past-producing operations, along with direct rail, road and port access, gives it excellent development potential. Recent digital modelling and geophysical surveys have further refined high-grade targets, paving the way for future resource expansion and economic evaluation.
¹This historical mineral resource estimate is from a Technical Report entitled Technical Report: Schefferville Area Phase I DSO Iron Projects Resource Update, Western Labrador – NE Québec, Canada by Maxime Dupéré dated June 27, 2014 and is filed on SEDAR (www.sedar.com). The Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), NI 43-101F1, and with CIM standards and Mineral Resource best practices. The independent QP believed project data was suitable for mineral resource estimation at that time. The stated resource uses an iron cut-off grade of 50%, and grades were not capped. An independent Qualified Person will be required to compile and validate historic Property data, model the data, and estimate the mineral resource to obtain a current mineral resource. It is envisaged that this will involve open pit optimization. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Anteros Metals Incorporated is not treating the historical estimate as a current mineral resource.
Haven Steady
Situated 40 kilometres southeast of Buchans in the Central Newfoundland Gold Belt, Havens Steady is within a proven volcanogenic massive sulphide (VMS) district renowned for its polymetallic potential. The property is road accessible and has been the focus of 8,048 metres of historical drilling, which identified long intersections of continuous mineralization, including 97.7 metres grading 9.2 g/t silver, 0.33 percent lead, 1.57 percent zinc, and 0.04 percent copper and 68 metres grading 11.8 g/t silver, 0.55 percent lead, 1.45 percent zinc, and 0.09 percent copper.
In 2025, Anteros’ exploration program significantly advanced the project with a series of high-impact discoveries. Boulder prospecting of a historic copper-in-soil approximately located approximately 200 metres along strike from the modelled deposit returned assays as high as 0.22 g/t gold, 21.3 g/t silver, and 2.17 percent copper while sampled outcrops in the main zone returned assays as high as 1.56 percent Pb, 9.60 percent Zn, 0.15 percent Cu, 45 g/t Ag, and 0.37 g/t Au.
Channel sampling of broad mineralized surface outcrop commenced in July. Collectively, these results confirm the grade and expansion potential of the deposit and highlight Havens Steady as a prime candidate for follow-up drilling aimed at defining a large, high-grade VMS system.
Strickland
Strickland lies in the Central Newfoundland Gold Belt, a region with prolific epithermal gold and VMS deposits. The property features seven mineralized zones with a combined strike length exceeding 2 km. The mineralization is hosted within submarine felsic volcanic units, providing predictable horizons for efficient exploration.
Historical drilling of 7,857 meters has delineated zones with significant grades, including a historical mineral inventory of 260,000 tons at 195 g/t silver and 5.25 percent lead-zinc in the Main Zone². Historical assays from quartz veins report gold grades up to 17.9 g/t gold, emphasizing the property's epithermal gold potential.
Proximity to the mining infrastructure of the Hope Brook gold deposit bodes well for potential synergies of Strickland. Proposed exploration activities include advanced geophysical surveys, trenching and targeted drilling to define and expand the resource base.
²The resource inventories described are considered ‘historical’ in nature as defined by National Instrument 43-101, and do not conform to CIM Resource Classification Definitions. The historical estimate was reported by D.R. Prince in a 1981 Falconbridge Nickel Mines Ltd. report entitled “Summary of Work Performed from 1977 to 1980 on the Strickland-Porter Fee Simple Property, Newfoundland”. A qualified person has not done sufficient work to classify the historical estimates of the Strickland Deposit as current mineral resources. As a result, Anteros Metals Incorporated is not treating these historical estimates as current mineral resource estimates, but believes that these historic results provide an indication of the potential of the property and are relevant from a continuing exploration perspective.
Hopedale
In Labrador, the Hopedale property spans 20 sq km and is located 80 km south of the world-class Voisey’s Bay mine. The project targets magmatic nickel-copper-cobalt mineralization along the Churchill-Nain Suture Zone, a structure known for hosting globally significant deposits.
The property is underlain by troctolitic rocks intruded by northeast-trending gabbro dykes, a geological setting highly favourable for disseminated nickel-copper-cobalt sulphide mineralization. Historical stream sediment sampling revealed anomalous nickel, copper and cobalt values in proximity to untested electromagnetic conductors, suggesting strong potential for new discoveries. As a greenfield project, Hopedale represents a high-potential critical minerals opportunity, with upcoming exploration focusing on high-resolution geophysics to identify priority drill targets.
Leadership Team
Trumbull Fisher - CEO
A seasoned professional with 17 years of experience in mining and capital markets, Trumbull Fisher has successfully led multiple resource companies and brings a wealth of expertise in project generation and financing. Fisher has grown both private and public resource companies in roles as chairman, president, board member and advisor. Fisher holds a BA from Carlton University.
Alan Rootenberg - CFO
With over 35 years in corporate finance, Alan Rootenberg’s extensive knowledge ensures Anteros maintains its strong financial foundation. Rootenberg holds a CPA, CA designation and has extensive experience in mineral and oil and gas exploration, serving as chief executive officer, chief financial officer and director to publicly listed companies.
Wesley Keats – Strategic Advisor
Wesley Keats has 22 years of experience in the metals industry, having worked privately and for major and junior mining companies across seven countries. A fourth-generation prospector in Newfoundland, he is a partner of Planet X and VP of Exploration at Anteros. Keats is a co-recipient of the PDAC Bill Dennis Award for significant prospecting success.
Bill Kennedy - Director
Bill Kennedy is a second-generation prospector with 12 years of experience in exploration-centric business operations and development in Newfoundland and Labrador, and has over 20 years of experience in information technologies. Blending his passion for tech and mining, Kennedy continues to pioneer data science systems for mineral target vectorization.
Chris Morrison - Director
Chris Morrison has experience in the operation of multiple corporations, mining sector marketing and communications, and capital markets. Morrison is the marketing manager for Planet X Exploration and multiple public client companies, and the principal of SJ AV Studio – a digital multimedia audio/visual production facility focused on mining sector press and marketing material curation and distribution.
Emily Halle - Director
Emily Halle is co-founder, geologist, and managing director at Halle Geological Services. She holds degrees in commerce and geology, is a certified PMP, and has over 20 years of mineral exploration experience. She serves on the board of the Mining Association of Nova Scotia and is a Fellow of the Society of Economic Geologists.
Prismo Metals
Investor Insight
Prismo Metals presents a compelling investment opportunity with its strategic focus on high-grade precious and base metal exploration in Mexico and Arizona, leveraging advanced technology and maximizing shareholder value through targeted asset development.
Overview
Mexico’s Sinaloa state hosts several prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s (TSX:USA) Cosalá operations and Kootenay Silver’s (TSXV:KTN) Copalito silver-gold project. Between 2012 and 2019, gold production at the El Gallo mine alone totaled 295,000 ounces (oz) and silver production peaked at 142,000 oz. At the Panuco project, Vizsla Silver (TSXV:VZLA) has an indicated resource of 9.5 million tons at grades of 289 g/t silver, 2.41 g/t gold, 0.27 percent lead and 0.84 percent zinc for 155.8 Moz silver equivalent.
Prismo Metals (CSE:PRIZ,OTCQB:PMOMF, FSE:7KU) has made a strategic move to join the list of successful explorers in this region. The company’s leadership team has decades of experience in the Mexican precious metals industry. Director, president, CEO and co-founder Dr. Craig Gibson has been an exploration consultant since 1998 and a director of Beyond Minerals (CSE:BY) Garibaldi Resources (TSXV:GGI).
Prismo Metals has three current exploration projects: Palos Verdes, Los Pavitos and Hot Breccia. The Palos Verdes property covers 22.77 hectares within the historic Panuco-Copala silver-gold district in Sinaloa, well-known for its numerous veins with historical production. While much of the district has been consolidated by Vizsla Resources, the Palos Verdes project is located near the district’s under-explored northeastern limit.
On January 9, 2023, Vizsla Resources acquired aright of first refusal to purchase the Palos Verdes project through a strategic investment agreement with Prismo Metals. Vizsla's strategic investment consists of a cash payment of $500,000 and the issuance of one million common shares of Vizsla to Prismo. Pursuant to the strategic investment, the two companies formed a technical committee for district-scale exploration of the Panuco silver-gold district consisting of Drs. Gibson and Megaw along with Dr. Jesus Velador, vice president of exploration for Vizsla.
Prismo Metals’ Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has been explored for 250 meters with findings yielding as much as 6.7 grams per ton (g/t) gold and 544 g/t silver from surface and underground sampling. A second vein system may be reflected in a northwest striking alteration zone, offering an additional high-grade exploration target on the property.
In May 2019, the company and ProDeMin entered an option agreement in which Prismo may acquire a 75-percent interest in the Palos Verdes property, and later entered into an agreement to acquire the remaining 25 percent of the property from the original owner. The company conducted a 2,100-meter drill program at Palos Verdes in 2022, 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.
Prismo conducted a 15 hole, 2,923-meter drilling program at Palos Verdes in 2023, with the best result being 11,520 silver equivalent (102 g/t gold and 3,100 g/t silver) over 0.5 meters downhole. An alteration study and rock chip sampling program were also conducted and provide evidence that additional mineralization may occur in previously unexplored areas.
The Los Pavitos project is located in the Alamos region of southern Sonora, a well-mineralized area that hosts several active exploration and mining projects. The project consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel, and show the presence of high-grade gold assays in at least two target areas.
In 2022 Prismo Metals signed a formal access agreement with Francisco Villa Ejido, the surface owner of the Los Pavitos Project to allow for exploration work and drilling, and completed a mapping, sampling and trenching program in 2023. Thus work paved the way for a first ever drill program at the project in 2023, consisting of 2,370 meters in 25 holes with excellent results.
Prismo acquired the right to earn a 75 percent interest in the Hot Breccia property in early 2023. Hot Breccia lies in the heart of the world-class Arizona copper belt and has historical drilling indicating the potential for a large copper mineralized system.
An airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey was completed at Hot Breccia. Prismo received assay results for the first batch of samples taken at the project indicating the presence of not only copper mineralization but also gold mineralization associated with gossanous veins and shear zones.
In 2025, Prismo Metals has signed option agreements to acquire100 percent of the historic Silver King and Ripsey mines in Arizona’s prolific Copper Belt, near its flagship Hot Breccia project. Silver King, discovered in 1875, produced nearly 6 million ounces of silver at grades up to 61 oz/t, with later sampling returning up to 644 oz/t silver and 15 g/t gold, indicating high-grade potential and possible antimony mineralization. The Ripsey mine, located 20 kilometers west of Hot Breccia, is an historic gold-silver-copper producer with sampling up to 15.85 g/t gold and 276 g/t silver, yet remains untested by modern exploration.Company Highlights
- Prismo Metals is an exploration company targeting high-grade silver and gold projects in Mexico, one of the world’s top producers of precious metals, and a large-scale copper project in Arizona, the leading producer of the metal in the US.
- The company’s Palos Verdes property is located in the historic Panuco-Copala silver-gold district in Sinaloa, Mexico and is partly surrounded by ground controlled by Vizsla Silver Corp..
- The Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has yielded 6.7 grams per ton (g/t) gold and 544 g/t silver at the surface.
- The company’s Los Pavitos project is located in the well-mineralized Alamos region of southern Sonora. The project consists of one concession covering 5,289 hectares.
- The Hot Breccia project consists of 1,400 hectares located in the world class Arizona Copper Belt.
- Prismo’s management and advisory team offers decades of experience in the Mexican precious metals industry, including all aspects of exploration and resource development.
- Prismo acquired 100 percent of the Palos Verdes claim and has drilled 6000 meters on the property. The drill results revealed high-grade silver and gold showing multiple discrete quartz vein stages lacing between breccia fragments and showing distinctly differing mineralogy.
- Vizsla Silver Inc. completed a Strategic Investment and owns about 9.9 percent of the company.
- The company also filed on SEDAR an NI 43-101 Technical Report for its Los Pavitos Gold-Silver Project in southern Sonora, Mexico.
Key Projects
Hot Breccia
The Hot Breccia project is Prismo’s latest acquisition located in the heart of the great Arizona Copper Belt, USA and is located 40 km south of the Resolution deposit and 35 km north of the San Manuel / Kalamazoo deposit and is just a few kilometers from the Hayden Smelter. The Hot Breccia property has the same productive geologic units that host high-grade copper skarn mineralization at the adjacent, past-producing Christmas Mine owned by Freeport. Prismo has the option to earn a 75-percent interest in the Hot Breccia project from Infinitum Copper (TSXV:INFI).
The company completed an airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey at Hot Breccia in 2023 and received assay results for a first batch of samples taken at the project. The results indicate the presence of not only copper mineralization, but also gold mineralization associated with gossanous veins and shear zones. The ZTEM survey identified a priority drill target in a conductive anomaly at depth.
Following the success of the 2023 ZTEM survey, Prismo received permit approval from the Bureau of Land Management for 10 drill pads to allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area. Assay results for samples taken in February 2024 include 5.69 percent copper, 0.24 g/t gold and 32.8 g/t silver.
Earlier in 2024, Prismo Metals engaged Exploration Technologies (ExploreTech) from San Diego, California to apply xFlare, their artificial intelligence (AI)-optimized drill planning solution, to its Hot Breccia project where a number of features suggest well mineralized Arizona-style copper porphyry lies at depth. Prismo is currently planning an initial 5,000 meter drill program at Hot Breccia.
Palos Verdes
The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.
History
Mapping and sampling were conducted over the property by ProDeMin. The Palos Verdes vein crops out for about 750 meters along strike and yielded as much as 4.15 g/t gold and 732.7 g/t silver. Before the turn of the century, a 70-meter tunnel was driven along the Palos Verdes vein near the bottom of the Palos Verdes arroyo; a sample of the vein in this adit yielded 6.7 g/t gold and 544 g/t silver. In 2018, ProDeMin completed a diamond drilling program on the property. Notable drill results included 3.75 g/t gold and 1,098 g/t silver for 2.3 meters and 8.42 g/t gold and 2,336 g/t silver for 0.8 meters.
Drilling
The company has undertaken several drill campaigns at the project, and a total of about 6,052 meters have been drilled in 33 holes to date, including five holes drilled by ProDeMin in 2018. Results indicate the presence of a near-surface high-grade ore shoot in the Palos Verdes vein similar to mineralization in the resources defined by Vizsla Silver in the southwestern portion of the district.
The company, in conjunction with its strategic partner Vizsla Silver (TSXV:VZLA), has planned an expanded drill program with new holes to be drilled from Vizsla Silver’s concessions adjacent to the Palos Verdes concession, targeting the proposed extension of the Palos Verdes ore shoot at depth and a possible extension along strike to the northwest. Prismo Metals is planning on initiating this drill program in August, 2024.
Los Pavitos
The company’s Los Pavitos project is located in the Alamos region of Southern Sonora, a well-mineralized area that hosts multiple active exploration and mining projects. Los Pavitos consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel. The property’s numerous mines and prospect pits indicate historical interest.
Prismo conducted a reconnaissance surface mapping and sampling at the project in 2022 and early 2023. This program consisted of about 1,500 samples and identified 5 main gold and silver mineralized target areas within several kilometer-scale structural zones. A follow up trenching program consisted of 698 meters in 25 trenches with almost 350 samples taken. A first ever drill program at the project was conducted in 2023, with 2,370 meters completed in 25 holes.
High-grade gold assays were encountered at the Santa Cruz target, with 10.2 g/t gold over 6.6 meters in drill hole LP-SC-23-02. A second gold zone was intersected at Las Auras, with 3.58 g/t gold over 1.15 meters within 3.65 meters carrying 2.33 g/t gold and 87.6 g/t silver.
Management Team
Gordon Aldcorn – President
Gordon Aldcorn brings over 20 years of experience in capital markets and junior public company development. Over the past five years, he has focused on the corporate management of copper and gold exploration projects, with a strong track record of advancing early-stage assets. Committed to responsible mineral exploration and long-term stakeholder engagement, Aldcorn now leads Prismo Metals through a pivotal growth phase, advancing its high-potential projects in Mexico and Arizona, including the flagship Hot Breccia copper project and the Palos Verdes silver project.
Alain Lambert – CEO and Director
Alain Lambert, who co-founded Prismo in 2018, is a lawyer by training and has over 35 years of experience in financing and advising small and medium-sized companies operating in various industries including technology, manufacturing, and the natural resources sector. He has been involved in private and public financings totaling more than $1 billion. He has an extensive network of investors, investment bankers, analysts, and investor relations professionals. Lambert acts as an advisor to public and private companies regarding financings, mergers and acquisitions plans, debt structuring as well as going-public transactions. Throughout his career, Lambert has served as a director and member of the audit committee and governance committee of small and medium-sized private and public companies. He holds a Bachelor of Laws degree (LL.B.) from the University of Montréal and a diploma of collegial studies, specializing in administration from the College Jean-de-Brébeuf in Montréal, Québec.
Craig Gibson - Chief Exploration Officer and Director
Dr. Craig Gibson has extensive experience in the minerals industry. He received his BS (1984) in earth sciences from the University of Arizona and MS (1987) and PhD (1992) in economic geology and geochemistry from the Mackay School of Mines, University of Nevada, Reno. He co-founded Prospeccion y Desarrollo Minero del Norte, S.A. de CV (ProDeMin) based in Guadalajara, Mexico, in 2009. ProDeMin is a consulting firm providing a broad spectrum of exploration-related services to the mining industry and has been involved in several major precious metal discoveries in Mexico. Gibson is also a director of Garibaldi Resources, a Vancouver-based junior exploration company; a certified professional geologist of the American Association of Professional Geologists; and a qualified person under NI 43-101.
Carmelo Marelli - CFO and Secretary
Carmelo Marrelli is the principal of the Marrelli Group, comprising Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Limited, Marrelli Press Release Services Limited, Marrelli Escrow Services Inc. and Marrelli Trust Company Limited. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over twenty years. Marrelli is a chartered professional accountant (CPA, CA, CGA), and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce degree from the University of Toronto. Marrelli acts as the chief financial officer to several issuers on the TSX, TSX Venture Exchange and CSE, as well as non-listed companies, and as a director of select issuers.
Martin Dupuis - Director
Martin Dupuis has over 25 years of experience covering all stages of a project’s life, from exploration through feasibility and engineering studies, construction, mine expansion and operations. Dupuis serves as Vizsla Silver’s chief operating officer. He was instrumental in the oversight and delivery of the company’s maiden resource estimate. Before joining Vizsla Silver, Dupuis was director of geology for Pan American Silver, technical services manager for Aurico Gold, and chief geologist at several other operations.
Jorge Rafael Gallardo-Romero - Director
Jorge Rafael Gallardo-Romero has been a consultant geologist of Cascabel since March 1992. He also acts as Mexico exploration manager of Gainey Capital (since January 2015) and of Minera Goldzone SA de CV (since March 2011). Gallardo-Romero graduated from the University of Sonora with a degree in Geology in 1984.
Maria Guadalupe Yeomans Otero - Director
Maria Yeomans Otero is a geologist who graduated from Universidad de Sonora, Mexico, in 1986, with master's studies in business administration at the same university. She has been a part of the team at Cascabel since 1992 and is now the office manager. She speaks English fluently and has extensive experience in the administration, legal and commercial relations related to mining.
Louis Doyle - Director
Louis Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Doyle has been the executive director of Québec Bourse. Between October 1999 and December 2015, he was the vice-president, Montréal of the TSX Venture Exchange. As such, he was responsible for business development and listing activities in the provinces of Québec and Atlantic Canada. During his tenure, he acted as chairman of the TSX Venture listing committee and was a member of the policy committee. Doyle also led the nationwide TSX Venture mentorship program and further acted regularly as a speaker and advisor at conferences and workshops. He also holds directorship roles with two other publicly traded companies. Doyle was granted 150,000 incentive stock options exercisable at $0.165 per share before June 26, 2027. Also, three other directors were each granted 50,000 incentive stock options, exercisable at $0.165 per share before June 26, 2027.
Peter Megaw - Advisor
Dr. Peter Megaw is best known as co-founder of MAG Silver and Minaurum Gold. He and his team are credited with MAG Silver’s Juanicipio discovery in the famous Fresnillo District and Excellon Resources’ Platosa mine. He received his doctorate from the University of Arizona and has more than 35 years of experience exploring silver and gold in Mexico. Megaw is a certified professional geologist by the American Institute of Professional Geologists and an Arizona Registered Professional Geologist. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He was awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, ultimately leading to a further 600 million ounces being identified in the immediate area. Megaw also received the Society of Mining Engineers 2012 Robert M. Dreyer Award for excellence in applied economic geology.
