Bravo Intersects High-Grade IOCG-Style Massive Sulphide Copper-Gold Mineralization in Drill Testing of Luanga EM targets

Bravo Intersects High-Grade IOCG-Style Massive Sulphide Copper-Gold Mineralization in Drill Testing of Luanga EM targets

 
 

  Highlights include 11.48m at 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au at T5 Target  

 
  •   Regional exploration has drilled two new areas of sulphide mineralization (T5 and T6 Targets), east of the original Luanga PGM+Ni+Au deposit.  
  •  
  •   T5 and T6 targets are only two of eleven priority EM anomalies hosted within the boundaries of the Luanga tenement.  
  •  
  •   T6 target has also intersected massive sulphides in ultramafic rock.  
  •  

Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (" Bravo " or the " Company ") has completed initial drill holes on the "T5" and "T6" electromagnetic ("EM") anomaliestargets. Assays have been received from the first drill hole ("DDH") at target T5. Both targets are located east of the original PGM+Au+Ni prospecting area of the 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit (" Luanga " or " Luanga PGM+Au+Ni Project "), in the Carajás Mineral Province, state of Pará, Brazil .

 

  "Drilling of geophysical HeliTEM targets has identified high-grade Iron Oxide Copper Gold style ("IOCG-style") mineralization and represents a potentially significant high-grade copper discovery. T5 is only one of eleven priority EM anomalies hosted within the boundaries of the Luanga tenement. Moreover, a   t the proximal EM target (T6), drilling has intersected similar massive sulphide mineralization (assays pending)." said Luis Azevedo , Chairman and CEO. "We are very encouraged by the discovery of high-grade copper and shareholders should be cognisant that Luanga is situated within the world class Carajás IOCG province, an area very fertile for high-grade copper discoveries. These results are a credit to Bravo's highly skilled geology team who are only now beginning to uncover the very exciting copper potential adjacent to Luanga's Tier 1 PGM+Au+Ni deposit."  

 

   Highlights Include:   

 
  •   Hole DDH2405T002 at target T5 intersected 11.48m of massive/semi-massive/breccia high-grade copper sulphide mineralization grading 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au (Figures 1 and 2).  
  •  
  •   High-grade copper in DDH2405T002 remains open at depth and along strike.  
  •  
  •   Drill hole DDH2405T004 (assays pending), completed 50m to the east of DDH2405T002, also intersected 9m of massive/semi-massive/breccia IOCG-style copper sulphide mineralization (Figure 4).  
  •  
  •   Presence of copper mineralization is consistent with mineralization in the Carajás province where IOCG-style mineralization is well established and high-grade discoveries are not unusual.  
  •  
  •   Such high-grade copper mineralization is likely unrelated to the Luanga PGM+Ni+Au deposit 1km away.  
  •  
  •   Drilling at T6 intersected 6m of massive/semi-massive/breccia sulphides (assays pending), in this case predominantly pyrrhotite. At this early stage, it appears to be of a magmatic style, hosted in ultramafic rocks like those seen in the footwall of the Luanga deposit. Follow-up drilling is planned.  
  •  
 

  Figure 1: 19% High-Grade Copper in DDH2405T002: T5 Massive sulphide Cu mineralization (~173m downhole). Open on strike and depth. (CNW Group/Bravo Mining Corp.) 

 
 

Exploration Drilling Update

 

Initial test diamond drilling of on Borehole Electromagnetic Targets ("BHEM") targets T5 and T6 has been completed, and assay results have been received from one of the holes at T5. Drill holes are angled at -60 degrees, towards azimuths of 150-180° at T5 and 330-000° at T6. Together, this set of drill holes comprise a total of 893 metres of diamond drilling.

 

Over the past 6 months, Bravo has conducted systematic first-pass test drilling, coupled with BHEM on the priority EM conductors identified by the HeliTEM survey. Although these modelled conductors, generated by an airborne EM technique on 150m spaced lines, have a lower degree of locational accuracy, they are sufficiently defined to place first-pass drilling proximal to the conductor's location. From there, BHEM, which provides more precise readings every 1m down the hole, has enabled development of accurately located conductor models for follow-up drilling.

 

From the 17 priority EM anomalies identified in the HeliTEM survey (see press release   September 11, 2023   ), Bravo has narrowed this list to 11 high priority conductors that warranted follow-up drilling of predominantly off-hole BHEM conductors. Drill testing commenced with the T5 and T6 targets, which are respectively situated between 1km and 4km east of the Luanga PGM+Au+Ni deposit.

 

  T5 Target  

 

Figure 2 shows the mineralization intersected and responsible for the T5 conductor, consisting of massive/semi-massive/breccia sulphides with sufficient pyrrhotite to generate a strong EM response. The first hole (DDH2305T001, Figure 3), drilled with an azimuth of 150°, targeted the HeliTEM conductor but only intercepted a narrow interval of mineralization ( 0.7m grading 1.98% Cu). Subsequent detailed BHEM modelling from this drill hole indicated that the conductor was located to the west with a slightly different alignment. To compensate, a new drill hole (DDH2405T002, Figure 3) was positioned with an azimuth of 180°.

 
 

  Figure 2: DDH2405T002 - Massive/semi-massive/ breccia sulphide Cu mineralization at the T5 target (165.8 – 174.8m downhole shown). (CNW Group/Bravo Mining Corp.) 

 
 
 
                        
 

   HOLE-ID   

 
 

   From (m)   

 
 

   To (m)   

 
 

   Thickness (m)   

 
 

   Cu (%) Sulphide   

 
 

   Ni* (%) Sulphide   

 
 

   Au (g/t)   

 
 

   TYPE   

 
 

   DDH2405T002   

 
 

   165.62   

 
 

   177.10   

 
 

   11.48   

 
 

   14.27   

 
 

   0.11   

 
 

   3.33   

 
 

   FR   

 
 

    Including    

 
 

    167.50    

 
 

    170.36    

 
 

    2.86    

 
 

    22.91    

 
 

    0.07    

 
 

    3.62    

 
 

    FR    

 
 
 
 
      
 

   Notes:   

 
 

   All 'From', 'To' depths, and 'Thicknesses' are downhole.   

 
 
 

   Given orientation of drilling, mineralization and modelled EM anomalies, intercepts are estimated at 100% of true thickness.   

 
 
 

   Type: FR = Fresh Rock. * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel.   

 
 
 

  Drill hole DDH2405T002 intersected 11.5m (at 14.3% Cu, 3.3g/t Au) of massive/semi-massive/breccia copper sulphide mineralization, at the T5 target . The copper mineralization presents as being within a hydrothermal system that overprints local felsic meta-intrusive rocks (meta-tonalite). The main mineral assemblage associated with this hydrothermal zone is represented by calcium-amphibole, biotite-phlogopite, apatite and silica. The sulphide paragenesis is that chalcopyrite is much more abundant than pyrrhotite, forming massive and semi-massive zones associated with brecciation within the hydrothermal zone.

 

  Mineralization appears consistent with typical Carajás IOCG-style mineralization (also supported by preliminary chemistry from handheld XRF spectrometer). Numerous IOCG deposits are well documented in the Carajás and several operating IOCG copper-gold mines exist. The world-class Salobo Cu/Au mine (Vale S.A.) is the most prolific.

 

The absence of magnetite alteration (which is commonplace in Carajás IOCG deposits) is not unique, with several other Carajás deposits similarly lacking magnetite. This results in the low magnetic response as reflected in the detailed magnetic survey. Historical soil geochemistry covers the T5 target with lines spaced at 200 metres, however, with an east-west orientation, lines are parallel to the modelled BHEM plates. Despite this, there is weak Cu in soil anomalism in the vicinity of the BHEM plates (peak high 416ppm Cu) close to the eastern end of the BHEM model.

 

  DDH2405T004 has also been completed (assays pending), while DDH2405T003 is in progress.  

 
 

  Figure 3: Off-conductors at T5 generated from drill hole DDH2305T001. Drill holes 002 and 004 intersected conductor; 003 is in progress. (CNW Group/Bravo Mining Corp.) 

 
 

Figure 4 shows core from the next drill hole (DDH2405T004) at anomaly T5, completed 50m to the east of DDH2405T002. Like DDH2405T002, this core also contains 9m of massive/semi-massive/breccia IOCG-style copper sulphide mineralization (assays pending). This finding supports the IOCG-style mineralization intersected in DDH2405T002 to the west and appears to confirm the continuity of the sulphide mineralization. The mineralization intersected at T5 remains open along strike and up and down dip from the intercepts reported herein.

 
 

  Figure 4: DDH2405T004 - Massive/Semi-massive/ breccia sulphide Cu mineralization at T5 target (154.0 – 161.4m shown). (CNW Group/Bravo Mining Corp.) 

 
 

  T6 Target  

 

Figure 5 shows the intersected mineralization responsible for the T6 conductor, consisting of 6m of massive/semi-massive/breccia sulphides, predominantly pyrrhotite, which generates a strong EM response. The first hole (DDH2306T001 Figure 6) was angled at an azimuth of 330° to target the interpreted HeliTEM conductor but failed to intersect it. Subsequently, BHEM identified the location of an off-hole conductor, and follow-up drilling (DDH2406T002, Figure 6) at a new azimuth of 000° intersected this conductor. At this early stage, mineralization appears to be more likely of a magmatic style, with low potassium, chlorine, and calcium, against an ultramafic (dunite) footwall. Assays are pending, and follow-up drilling is planned.

 
 

  Figure 5: DDH2406T002 Massive/Semi-massive/ breccia sulphide mineralization at T6 target (57.0 – 60.7m shown). (CNW Group/Bravo Mining Corp.) 

 
 

  Drill Results Status Update  

 

  A total of 293 drill holes have been completed by Bravo to date, for 62,811 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 247 Bravo drill holes to date. Assay results for 38 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

 

Bravo has initially budgeted a 3,000m of drilling to follow up the identified EM anomalies and will continue to systematically evaluate the T5 and T6 targets, as well as the other nine high priority conductors defined by HeliTEM and subsequent BHEM.

 

   Complete Table of Recent Intercepts.   

 
 
                                                            
 

   HOLE-ID   

 
 

   Target   

 
 

   From (m)   

 
 

   To (m)   

 
 

   Thickness (m)   

 
 

   Cu (%) Sulphide   

 
 

   Ni* (%) Sulphide   

 
 

   Au (g/t)   

 
 

   TYPE   

 
 

  DDH2405T001  

 
 

  T5  

 
 

  212.30  

 
 

  213.00  

 
 

  0.70  

 
 

  1.98  

 
 

  0.07  

 
 

  0.04  

 
 

  FR  

 
 

   DDH2405T002   

 
 

   T5   

 
 

   165.62   

 
 

   177.10   

 
 

   11.48   

 
 

   14.27   

 
 

   0.11   

 
 

   3.33   

 
 

   FR   

 
 

    Including    

 
 
 

    167.50    

 
 

    170.36    

 
 

    2.86    

 
 

    22.91    

 
 

    0.07    

 
 

    3.62    

 
 

    FR    

 
 

  DDH2405T004  

 
 

  T5  

 
 

  Pending  

 
 

  DDH2406T001  

 
 

  T6  

 
 

  50.00  

 
 

  56.00  

 
 

  6.00  

 
 

  0.11  

 
 

  0.02  

 
 

  0.01  

 
 

  FR  

 
 

  DDH2406T001  

 
 

  T6  

 
 

  120.65  

 
 

  135.14  

 
 

  14.49  

 
 

  -  

 
 

  0.12  

 
 

  -  

 
 

  FR  

 
 

  DDH2406T002  

 
 

  T6  

 
 

  Pending  

 
 
 
 
    
 

   Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole.   

 
 

   Given orientation of drilling, mineralization, and modelled EM anomalies, intercepts are estimated at ~100% of true thickness.   

 
 

   Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.   

 
 

   * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel.   

 
 
 
 

  Figure 6: Location of Bravo Drilling at the T5 and T6 targets, reported in this News Release (CNW Group/Bravo Mining Corp.) 

 
 
  About Bravo Mining Corp.  
 

Bravo is a Canadian and Brazil -based mineral exploration and development company focused on advancing its Luanga Project in the world-class Carajás Mineral Province of Brazil  

 

Bravo is the most active explorer in Carajás and is led by a team of local and international geologists who have a proven track record of PGM, nickel and copper discoveries.

 

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 18,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

 

  Technical Disclosure  

 

Technical information in this news release has been reviewed and approved by Simon Mottram , F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 "). Mr. Mottram has verified the technical data and opinions contained in this news release.

 

  Forward Looking Statements  

 

  This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "high-grade", "significant", "discovery", "priority", "   exciting copper potential   ", " strong EM response ", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; the potential for new and/or different styles of mineralisation in some areas, such as IOCG-style, the presence of which is publicly well documented in the Carajás mineral province; whether or not the mineralization interested at T5 is in fact IOCG-style, some variant of such or another style of mineralization; the potential continuity of mineralization between holes; the grades and implications of unassayed holes; the visual and XRF identification of minerals in the core; the potential implications of magmatic massive sulphide mineralization at T6; whether the other anomalies are related to mineralization; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations   on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted along strike and up and down dip; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.  

 

   Schedule 1: Drill Hole Collar Details   

 
 
                                                            
 

   HOLE-ID   

 
 

   Company   

 
 

   East (m)   

 
 

   North (m)   

 
 

   RL (m)   

 
 

   Datum   

 
 

   Depth (m)   

 
 

   Azimuth   

 
 

   Dip   

 
 

   Area   

 
 

  DDH2305T001  

 
 

  Bravo  

 
 

  660890.155  

 
 

  9343249.612  

 
 

  185.549  

 
 

  SIRGAS2000_UTM_22S  

 
 

  250.05  

 
 

  150.00  

 
 

  -60.00  

 
 

  T5 EM Target  

 
 

  DDH2405T002  

 
 

  Bravo  

 
 

  660850.040  

 
 

  9343224.790  

 
 

  191.610  

 
 

  SIRGAS2000_UTM_22S  

 
 

  201.35  

 
 

  180.00  

 
 

  -60.00  

 
 

  T5 EM Target  

 
 

  DDH2405T004  

 
 

  Bravo  

 
 

  660899.990  

 
 

  9343224.690  

 
 

  185.840  

 
 

  SIRGAS2000_UTM_22S  

 
 

  200.35  

 
 

  180.00  

 
 

  -60.00  

 
 

  T5 EM Target  

 
 

  DDH2306T001  

 
 

  Bravo  

 
 

  663569.793  

 
 

  9343420.426  

 
 

  200.549  

 
 

  SIRGAS2000_UTM_22S  

 
 

  150.40  

 
 

  330.00  

 
 

  -60.00  

 
 

  T6 EM Target  

 
 

  DDH2406T002  

 
 

  Bravo  

 
 

  663569.790  

 
 

  9343420.430  

 
 

  200.550  

 
 

  SIRGAS2000_UTM_22S  

 
 

  90.75  

 
 

  000.00  

 
 

  -60.00  

 
 

  T6 EM Target  

 
 
 

   Schedule 2: Assay Methodologies and QAQC   

 

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil . The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website ( SGS ) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

 

Quality Assurance and Quality Control (" QAQC ") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

 
 
                
 

   Bravo SGS Geosol   

 
 

   Preparation   

 
 

   Method   

 
 

   Method   

 
 

   Method   

 
 

   Method   

 
 

   For All Elements   

 
 

   Pt, Pd, Au   

 
 

   Rh   

 
 

   Sulphide Ni, Cu   

 
 

   Trace Elements   

 
 

  PRPCLI (   85% at 200#)  

 
 

  FAI515, FAI34V  

 
 

  FAI30V  

 
 

  AA04B  

 
 

  ICP40B  

 
 
 
 

  Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.) 

 
 

SOURCE Bravo Mining Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/28/c0291.html  

 
 

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Bravo Intercepts Further High-Grade Copper-Gold Mineralization at T5 Intercept of 8.75m at 9.48% Cu and 2.1g/t Au

Bravo Intercepts Further High-Grade Copper-Gold Mineralization at T5 Intercept of 8.75m at 9.48% Cu and 2.1g/t Au

 
 

  Copper-Nickel Mineralization Intersected in First Drill Hole at T16 target    Intercept of 1.29m at 2.39% Cu, 1.17% Ni   

 

Bravo Mining Corp. (TSX.V: BRVO) (OTCQX: BRVMF), (" Bravo " or the " Company ") has received assay results from the second drill hole at the "T5" target and from the first drill hole in the "T16" electromagnetic ("EM") target. This is the third HeliTEM (Helicopter based electromagnetics) target to be drilled at the 100% owned Luanga Project (" Luanga ") which includes the Luanga palladium + platinum + rhodium + gold + nickel deposit (" Luanga Deposit "), in the Carajás Mineral Province, state of Pará, Brazil .

 

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  Highlights include    59.9m at 4.80g/t PGM+Au including    42.9m at 5.50g/t PGM+Au, 0.21% Ni,
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Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (" Bravo " or the " Company ")  has received assay results from nine diamond drill holes ("DDH"), four from the North Sector and five from the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (" Luanga " or " Luanga PGM+Au+Ni Project "), located in the Carajás Mineral Province, state of Pará, Brazil .

 

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Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (" Bravo " or the " Company ") announced that it has received assay results from seven trenches in the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (" Luanga " or " Luanga PGM+Au+Ni Project "), located in the Carajás Mineral Province, state of Pará, Brazil .

 

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[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

 

(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 3rd, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce that it has signed option agreements to acquire 100% interest in two historic high-grade precious and base metal mines — the Silver King and Ripsey mines — both located in Arizona's prolific Copper Belt near its flagship Hot Breccia project.

 

Additional information on the Silver King and Ripsey mines as well as Prismo's other projects (Hot Breccia and Palos Verdes) is available on Prismo's Youtube channel at:   

  

 

  Exceptional Grades and Untapped Potential  

 

Discovered in 1875, the Silver King mine is one of Arizona's most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Remarkably, selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains. Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

 

The Ripsey mine, located 20 km west of Hot Breccia, is also an historic gold-silver-copper producer with significant upside. Historic sampling has returned up to 15.85 g/t gold and 276 g/t silver, yet no modern exploration has been conducted.

 

  Strategic Location — World-Class Neighbors  

 

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . This unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside.

 

"The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near term value through immediate exploration on a historic high-grade silver producer with antimony potential that has seen limited modern exploration by drilling both laterally and at depth into a prospective source formation, said Gordon Aldcorn, President of Prismo. "We look forward to getting our exploration team back in the field, advancing our exciting projects and revitalizing investor interest in the Company."

 

The Silver King mine was discovered in 1875 and produced ore with as much as 10,000 ounces per ton silver in near surface workings (2) . Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

 

The orebody at Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core (3) .  Records indicate that due to variations in mineralogy, much of the upper portion of the body was evidently not mined. The current owners (the " Optionor ") rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

 

The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990's. Sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.

 

The Company plans to conduct a detailed mapping and sampling program at both projects at surface exposures and in accessible workings.  A drill program is planned for Silver King, with about 1,000 meters initially. The Silver King drill program is designed to test the mineralized body at four elevations as well as lateral to the pipelike body. De-watering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.

 

"This is a fabulous opportunity for the Company. Both projects are high-grade and are easily accessible and may be associated with porphyry copper mineralization. We also look forward to evaluating the potential for antimony at Silver King. We're excited to begin exploration immediately to test the Silver King's pipelike mineralized body at multiple depths and laterally," said Dr. Craig Gibson , Chief Exploration Officer. "This region is world-class for porphyry systems and base and precious metals, and we believe these mines have significant untapped potential."

 

    
Click Image To View Full Size
 

 

Location of the Company's projects withing the Arizona Copper Belt

 

    
Click Image To View Full Size
 

 

Land map of the Silver King mine.

 

    
Click Image To View Full Size
 

 

Drone view of the Silver King mine.

 

     

 

The Silver King mine in the late 1800's.

 

    
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Small scale mining in the upper levels of the Silver King mine in the late 1990's.

 

  Deal description  

 

Prismo has the option to acquire a 100% interest in both the Silver King and Ripsey mines. Prismo can earn a 100% interest in the Ripsey mine by issuing one million shares to the Optionor, paying the Optionor US $10,000 within six months of the signing of the option agreement (the " Effective Date "), US $10,000 on each anniversary of the Effective Date and US $1 million to the Optionor within five years of the Effective Date. Prismo does not have minimum work commitments as part of the Ripsey option agreement.

 

Regarding the Silver King mine, Prismo can acquire a 100% interest in three stages. Prismo must issue one million shares to the Optionor, pay the Optionor US $10,000 within six months of the Effective Date, and US $10,000 on each anniversary of the Effective Date. To earn a first 50% interest, Prismo must incur no less than US $500,000 in expenditures on or before the first anniversary of the Effective Date, incur no less than an additional US $2.5 million expenditures on or before the third anniversary of the Effective Date and issue to the Optionor two million shares. Prismo can acquire an additional 30% interest by incurring no less than an additional US $3 million in expenditures, paying the Optionor US $1 million and issuing to the Optionor two million shares before the fifth anniversary of the Effective Date. Prismo can elect to form a joint venture at anytime after earning it initial 50% interest. The option agreement and joint venture agreement terms and conditions contain standard buyout and dilution terms regarding the final 20% interest.

 

  Private Placement  

 

Prismo is also pleased to announce a non-brokered private placement (the " Private Placement ") of five million units of the Company (" Units ") at an issue price of $0.05 per Unit for minimum gross proceeds of $250,000. Each Unit will consist of one common share in the capital of the Company (a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant will entitle the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

 

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on July 1st, 2025, held Shares (and who continue to hold such Shares as of the closing date of the Private Placement), pursuant to the existing securityholder exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption "). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Securityholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.

 

The Units issued pursuant to the Private Placement and the Existing Securityholder Exemption will be subject to a four-month hold period from the closing date of the Private Placement under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  The Company intends to use the net proceeds of the Private Placement for general corporate purposes. The Company may pay finder's fees to eligible finders in connection with the Private   Placement, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.  

 

  The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.  

 

  Debt Settlements  

 

  Prismo also announces that it has entered into debt settlement agreements (the "   Settlement Agreements   ") with certain creditors of the Company (the "   Creditors   ") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of 160,000  shares of the Company (each, a "   Share   ") in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $11,000 (the "   Debt Settlement   ").   All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.  

 

  Share and Warrants Issuance  

 

  A private company dealing at arms' length with Prismo, its officers and directors, had certain rights into the Silver King and Ripsey mines ("   PrivateCo   "). In consideration for PrivateCo relinquishing its rights in the Silver King and Ripsey mines in favor of the Company, Prismo has agreed, subject to regulatory approval, to issue PrivateCo five million units (the "   Units   "). Each Unit is comprised of one common share (a "   Share   ") and one share purchase warrant (a "   Warrant   "). The Shares will become free trading as to 25% every six months from the Effective Date. Two million of the Warrants will be exercisable at $0.10 ("   First Tranche   ") and three million Warrants will be exercisable at $0.15 ("   Second Tranche   "), all for a period of three years. The shares from the exercise of the Warrants will become free trading as to 25% every six months from the Effective Date. In addition, the exercise of the First Tranche is conditional on Prismo having raised $1.5 million from parties introduced to Prismo by the principals of PrivateCo and the exercise of the Second Tranche is conditional on Prismo having raised $3.0 million from parties introduced to Prismo by the principals of PrivateCo.  

 

  Qualified Person  

 

   Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. Other than the sampling conducted by Dr. Craig Gibson as indicated herein, the data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.   

 

  1)     https://resolutioncopper.com/about-us/    

 

  2)   Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.  

 

  3)   Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.  

 

  About Prismo Metals Inc.  

 

  Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.  

 

  Please follow @PrismoMetals on   ,   ,   ,    Instagram    , and  

 

  Prismo Metals Inc. ,   1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6  

 

  Contact:  

 

  Alain Lambert, Chief Executive Officer    alain.lambert@prismometals.com   

 

  Gordon Aldcorn, President    gordon.aldcorn@prismometals.com   

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.  

 

  These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King and Ripsey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund exploration and the timing of such exploration.  

 

  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-   looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

Copyright (c) 2025 TheNewswire - All rights reserved.

 

 

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