PAN GLOBAL ONGOING DRILLING EXTENDS STRIKE OF LA ROMANA NEAR-SURFACE COPPER-TIN-SILVER MINERALIZATION TO 1.35 KILOMETERS

PAN GLOBAL ONGOING DRILLING EXTENDS STRIKE OF LA ROMANA NEAR-SURFACE COPPER-TIN-SILVER MINERALIZATION TO 1.35 KILOMETERS

 
 

  TSXV: PGZ | OTCQX: PGZFF  

 
  • Romana West drilling extends La Romana mineralization 150m to the west
  •  
  • Copper-tin grades increasing to the west
  •  
  •   Investor webcast with CEO Tim Moody to discuss results will be held on Wednesday, September 20, 2023 at 11 a.m. Eastern Time / 8 a.m. Pacific Time . Details at end of this release  
  •  

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is pleased to announce assay results for the first six holes drilled at the Romana West target, testing extensions to the La Romana copper-tin-silver discovery at the Company's 100% owned Escacena Project in the Iberian Pyrite Belt in southern Spain .

 
  Key highlights:  
 
  • Copper and tin mineralization with good continuity starts immediately below a thin cover of sediments
  •  
  • Moderately north-dipping tabular geometry ideally suited for potential open-pit mining
  •  
  • High value tin grades increasing to the west
  •  
  •   LRD162 intercepted   17m at 0.65% CuEq 1 ( 0.4% Cu 0.13% Sn, 1.1 g/t Ag) from 50.0m   , including   6m at 1.24% CuEq 1 (0.5% Cu, 0.29% Sn, 1.5g/t Ag)
  •  
  •   LRD166 intercepted   14.5m at 0.75 % CuEq 1 (0.36% Cu, 0.15% Sn, 1.2 g/t Ag from 7.5m   , including   5m at 1.06% CuEq 1 (0.48% Cu, 0.21% Sn, 2.0 g/t Ag)
  •  
  •   LRD164 intercepted   16m at   0.70% CuEq 1 (0.52 % Cu, 0.06 % Sn, 1.6 g/t Ag) from 37.0m , including    3m    at 1.38% CuEq 1 (1.06% Cu, 0.11% Sn, 3.9 g/t Ag)
  •  
  • Mineralization remains wide open at depth and to the west
  •  
  • Drilling ongoing with results pending from six additional completed drill holes with visual copper and tin mineralization  
  •  

Drill hole locations are shown in Figure 1 below. Drill hole assay results are summarized in Table 1 and collar details are presented in Table 2 below.

 

"Drilling at Romana West commenced within weeks of being granted surface access. Twelve of our planned 25 drill holes have been completed and assay results for the first six are very encouraging. Our drill program has been highly successful, confirming continuity of the copper-tin-silver mineralization 150 meters to the west of the La Romana discovery. The overall strike length of La Romana is now 1.35 kilometers and is still open, with step-out drilling continuing farther to the west. Results to date show the potential for grades to increase to the west," said Tim Moody , President and CEO of Pan Global.

 

The Romana West mineralization occurs in two main layers, Zone B and Zone C, commencing directly below a thin cover of post mineral sediments. Sulphide mineralization was intersected in all holes at depths predicted from modelling of previous drilling and geology data. At shallow depths the primary sulphides, including chalcopyrite and pyrite, have been overprinted by supergene chalcocite and copper enrichment.

 

The assay results also include some of the highest tin grades reported in the Escacena project area, with assays up to 0.62% Sn. Coarse cassiterite was observed in both Zone B and Zone C. Importantly, cassiterite is the only tin mineral observed and is preferred for metallurgical extraction to produce a valuable tin concentrate. Processed tin is a key ingredient in electronics and solar panels and regularly trades at three-to-four times the value of processed copper.

 

The ongoing drill program aims to test the near-surface La Romana mineralization a further 350m along strike to the west.

 

   Figure 1 –    Gravity anomaly map showing the Romana West and La Romana targets, drill hole locations with selected results, and cross-section locations A-A' (Figure 2) and B-B' (Figure 3).  

 
 

  Figure 1 – Gravity anomaly map showing the Romana West and La Romana targets, drill hole locations with selected results, and cross-section locations A-A' (Figure 2) and B-B' (Figure 3). (CNW Group/Pan Global Resources Inc.) 

 
 

   Figure 2 –    Cross section 736010m East, A-A', showing selected assay results highlights and copper grade shells for new drill holes LRD161 , LRD162 and LRD166 , with mineralization commencing immediately beneath the post mineral cover to nearly 200m down-dip (to the north).  

 
 

  Figure 2 – Cross section 736010m East, A-A', showing selected assay results highlights and copper grade shells for new drill holes LRD161, LRD162 and LRD166, with mineralization commencing immediately beneath the post mineral cover to nearly 200m down-dip (to the north). (CNW Group/Pan Global Resources Inc.) 

 
 

   Figure 3 –    Cross section 735900m East, B-B', showing selected highlights and copper grade shells for new drill holes LRD163 , LRD164 and LRD165 .  

 
 

  Figure 3 – Cross section 735900m East, B-B', showing selected highlights and copper grade shells for new drill holes LRD163, LRD164 and LRD165. (CNW Group/Pan Global Resources Inc.) 

 
 
  Table 1 – Romana West drill results summary
 
 
                                                                                                                                                                                                                                                                                                                                                                            
 

   Hole ID   

 
 

   From   

 
 

   To   

 
 

   Interval   

 
 

   CuEq( 1 )   

 
 

   Cu   

 
 

   Sn   

 
 

   Ag   

 
 
 

   Au   

 
 

   Pb   

 
 

   Zn   

 
 

   True
Thickness
 
 

 
 
 

   m   

 
 

   m   

 
 

   m   

 
 

   %   

 
 

   %   

 
 

   %   

 
 

   g/t   

 
 
 

   g/t   

 
 

   ppm   

 
 

   ppm   

 
 

   (m)   

 
 

   LRD161   

 
 

   117.00   

 
 

   130.00   

 
 

   13.00   

 
 

   0.27   

 
 

   0.25   

 
 

   0.01   

 
 

   0.8   

 
 
 

   0.01   

 
 

   11   

 
 

   72   

 
 

   11.79   

 
 

  Including  

 
 

   126.00   

 
 

   130.00   

 
 

   4.00   

 
 

   0.49   

 
 

   0.46   

 
 

   0.01   

 
 

   1.6   

 
 
 

   0.01   

 
 

   19   

 
 

   85   

 
 

   3.63   

 
 

  and  

 
 

  150.00  

 
 

  162.00  

 
 

  12.00  

 
 

  0.36  

 
 

  0.28  

 
 

  0.03  

 
 

  1.1  

 
 
 

  0.01  

 
 

  7  

 
 

  70  

 
 

  10.9  

 
 

  Including  

 
 

   150.00   

 
 

   156.00   

 
 

   6.00   

 
 

   0.60   

 
 

   0.47   

 
 

   0.05   

 
 

   1.9   

 
 
 

   0.01   

 
 

   12   

 
 

   79   

 
 

   5.44   

 
 

  Including  

 
 

   152.00   

 
 

   153.00   

 
 

   1.00   

 
 

   1.61   

 
 

   1.23   

 
 

   0.14   

 
 

   4.0   

 
 
 

   0.01   

 
 

   21   

 
 

   87   

 
 

   0.91   

 
 

   LRD162   

 
 

   50.00   

 
 

   67.00   

 
 

   17.00   

 
 

   0.65   

 
 

   0.30   

 
 

   0.13   

 
 

   1.1   

 
 
 

   0.01   

 
 

   49   

 
 

   81   

 
 

   17.00   

 
 

  Including  

 
 

  52.00  

 
 

  58.00  

 
 

  6.00  

 
 

  1.24  

 
 

   0.47   

 
 

   0.29   

 
 

   1.5   

 
 
 

  0.01  

 
 

   19   

 
 

   75   

 
 

  6.00  

 
 

  and  

 
 

   95.00   

 
 

   109.15   

 
 

   14.15   

 
 

   0.27   

 
 

   0.18   

 
 

   0.03   

 
 

   0.6   

 
 
 

   0.02   

 
 

   10   

 
 

   64   

 
 

   14.15   

 
 

  Including  

 
 

   107.00   

 
 

   109.15   

 
 

   2.15   

 
 

   0.63   

 
 

   0.46   

 
 

   0.06   

 
 

   2.1   

 
 
 

   0.088   

 
 

   36   

 
 

   76   

 
 

   2.15   

 
 

  and  

 
 

   132.50   

 
 

   135.00   

 
 

   2.50   

 
 

   0.89   

 
 

   0.10   

 
 

   0.30   

 
 

    

 
 
 

   0.01   

 
 

   42   

 
 

   58   

 
 

   2.50   

 
 

  Including  

 
 

   134.00   

 
 

   135.00   

 
 

   1.00   

 
 

   1.64   

 
 

    

 
 

   0.62   

 
 

    

 
 
 

   0.01   

 
 

   6   

 
 

   47   

 
 

   1.00   

 
 

   LRD163   

 
 

   30.35   

 
 

   32.00   

 
 

   1.65   

 
 

   0.86   

 
 

   0.76   

 
 

   0.03   

 
 

   3.7   

 
 
 

    

 
 

   137   

 
 

   103   

 
 

   1.27   

 
 

  and  

 
 

   60.00   

 
 

   72.00   

 
 

   12.00   

 
 

   0.31   

 
 

   0.25   

 
 

   0.02   

 
 

   2.2   

 
 
 

   0.01   

 
 

   80   

 
 

   142   

 
 

   9.20   

 
 

  and  

 
 

   122.00   

 
 

   126.00   

 
 

   4.00   

 
 

   0.29   

 
 

   0.23   

 
 

   0.02   

 
 

   0.5   

 
 
 

    

 
 

   3   

 
 

   50   

 
 

   3.07   

 
 

   LRD164   

 
 

   37.00   

 
 

   53.00   

 
 

   16.00   

 
 

   0.70   

 
 

   0.52   

 
 

   0.06   

 
 

   1.6   

 
 
 

   0.01   

 
 

   7   

 
 

   85   

 
 

   16.00   

 
 

  Including  

 
 

   43.00   

 
 

   47.00   

 
 

   4.00   

 
 

   0.93   

 
 

   0.68   

 
 

   0.09   

 
 

   1.8   

 
 
 

   0.01   

 
 

   2   

 
 

   91   

 
 

   4.00   

 
 

  Including  

 
 

   49.00   

 
 

   52.00   

 
 

   3.00   

 
 

   1.38   

 
 

   1.06   

 
 

   0.11   

 
 

   3.9   

 
 
 

   0.02   

 
 

   16   

 
 

   78   

 
 

   3.00   

 
 

  and  

 
 

   87.00   

 
 

   91.00   

 
 

   4.00   

 
 

   0.66   

 
 

   0.52   

 
 

   0.05   

 
 

   0.8   

 
 
 

   0.02   

 
 

   3   

 
 

   51   

 
 

   4.00   

 
 

  Including  

 
 

   88.00   

 
 

   89.00   

 
 

   1.00   

 
 

   1.59   

 
 

   1.42   

 
 

   0.06   

 
 

   2.0   

 
 
 

   0.05   

 
 

   8   

 
 

   50   

 
 

   1.00   

 
 

   LRD165   

 
 

   86.25   

 
 

   87.70   

 
 

   1.45   

 
 

   0.64   

 
 

   0.36   

 
 

   0.10   

 
 

   1.2   

 
 
 

   0.01   

 
 

   5   

 
 

   87   

 
 

   1.24   

 
 

  and  

 
 

   114.00   

 
 

   122.85   

 
 

   8.85   

 
 

   0.59   

 
 

   0.55   

 
 

   0.01   

 
 

   1.4   

 
 
 

   0.008   

 
 

   6   

 
 

   74   

 
 

   7.58   

 
 

  Including  

 
 

   119.00   

 
 

   122.85   

 
 

   3.85   

 
 

   1.08   

 
 

   1.04   

 
 

   0.013   

 
 

   2.7   

 
 
 

   0.013   

 
 

   10   

 
 

   80   

 
 

   3.3   

 
 

  Including  

 
 

   122.25   

 
 

   122.85   

 
 

   0.60   

 
 

   5.24   

 
 

   5.06   

 
 

   0.04   

 
 

   13.0   

 
 
 

   0.034   

 
 

   29   

 
 

   180   

 
 

   0.51   

 
 

   LRD166   

 
 

   7.50   

 
 

   22.00   

 
 

   14.50   

 
 

   0.75   

 
 

   0.36   

 
 

   0.15   

 
 

   1.2   

 
 
 

   0.012   

 
 

   25   

 
 

   129   

 
 

   13.30   

 
 

  including  

 
 

   17.00   

 
 

   22.00   

 
 

   5.00   

 
 

   1.06   

 
 

   0.48   

 
 

   0.21   

 
 

   1.5   

 
 
 

   0.018   

 
 

   27   

 
 

   131   

 
 

   4.6   

 
 

  and  

 
 

   72.00   

 
 

   73.20   

 
 

   1.20   

 
 

   1.19   

 
 

   1.04   

 
 

   0.06   

 
 

   1.7   

 
 
 

   0.024   

 
 

   11   

 
 

   48   

 
 

   1.10   

 
 
 
 
 
 

    1   Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries of 86% for Cu, 68% for Sn and 56% for Ag are based on preliminary studies performed by Wardell Armstrong International and MinePro. The CuEq calculation assumes commodity prices of US$ 8,693/tonne Cu, US$ 29,069/tonne Sn and US$ 23.72/oz Ag, corresponding to the three-year monthly price averages to July 2023. The effective formula is [CuEq %] = [Cu %] + 2.6440 * [Sn %] + 0.0057 * [Ag ppm]   

 
 
 
  Table 2 – Romana West drill hole collar information (6 holes, total 1,004.95m )
 
 
                                          
 

   Hole ID   

 
 

   Easting 2   

 
 

   Northing 2   

 
 

   Azimuth ( o )   

 
 

   Dip( o )   

 
 

   Depth (m)   

 
 

  LRD161  

 
 

  736025.3  

 
 

  4152813  

 
 

  195  

 
 

  -70  

 
 

  197.45  

 
 

  LRD162  

 
 

  735989.1  

 
 

  4152760  

 
 

  180  

 
 

  -50  

 
 

  182.05  

 
 

  LRD163  

 
 

  735921.6  

 
 

  4152767  

 
 

  180  

 
 

  -90  

 
 

  167.9  

 
 

  LRD164  

 
 

  735921.7  

 
 

  4152766  

 
 

  180  

 
 

  -50  

 
 

  140.35  

 
 

  LRD165  

 
 

  735895.7  

 
 

  4152851  

 
 

  156  

 
 

  -70  

 
 

  222.45  

 
 

  LRD166  

 
 

  736038.8  

 
 

  4152687  

 
 

  156  

 
 

  -55  

 
 

  94.75  

 
 
 
 
 
 

   2 Coordinate system. UTM29N ERTS89   

 
 
 
  Investor Call to Discuss Drill Results and Expanding La Romana  
 

CEO Tim Moody will host a conference call and webcast on Wednesday, September 20, 2023 , at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time to discuss the latest results at the Escacena Project. An open Q&A session will follow a short presentation.

 

Date: Wednesday, September 20, 2023  
Time: 11:00 a.m. Eastern Time | 8:00 a.m. Pacific Time  
Please register in advance: https://us06web.zoom.us/meeting/register/tZEtcumhrzsqE9XnLSo4hLpyYL7Nrdq-utim .

 

After registering, you will receive a confirmation email containing information about joining the meeting. Investors are encouraged to send questions or topics of interest in advance to investors@panglobalresources.com to be addressed following the presentation. A link to the webcast will be available on the Company's website at https://panglobalresources.com following the live broadcast.

 
  About the Escacena Project  
 

The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with construction anticipated to start in 2023. The Escacena Project hosts the La Romana copper-tin-silver discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep , Romana North , Romana West, Cañada Honda, Bravo, Barbacena, El Pozo, and San Pablo.

  

 Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain , where infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities.

 

  QA/QC Procedures  

 

Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 to 2m . Sample intervals were defined using geological contacts with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling was supervised at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples and Certified Reference materials inserted every 25 samples in each batch.

 

Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS laboratory in Ireland . All samples were crushed and split (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Gold analysis was by 50gm Fire assay with ICP finish (method Au-ICP22) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62). Over grade tin was determined using peroxide fusion with ICP finish (method Sn-ICP81x).

 
  Qualified Persons  
 

  James Royall , Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information for this news release. Mr. Royall is not independent of the Company.

 

On behalf of the Board of Directors

 

   www.panglobalresources.com   

 
   Forward-looking statements   
 

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

 

The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

 

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 
 

  Pan Global Resources Inc. logo (CNW Group/Pan Global Resources Inc.) 

 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/pan-global-ongoing-drilling-extends-strike-of-la-romana-near-surface-copper-tin-silver-mineralization-to-1-35-kilometers-301931601.html  

 

SOURCE Pan Global Resources Inc. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/19/c3500.html  

 
 

News Provided by Canada Newswire via QuoteMedia

PGZ:CA
The Conversation (0)
PAN GLOBAL INTERSECTS 1.04% COPPER OVER 15.9 METERS AT WESTERN EXPANSION OF LA ROMANA COPPER-TIN-SILVER DISCOVERY

PAN GLOBAL INTERSECTS 1.04% COPPER OVER 15.9 METERS AT WESTERN EXPANSION OF LA ROMANA COPPER-TIN-SILVER DISCOVERY

 
 

  TSXV: PGZ   |   OTCQX: PGZFF  

 
  • Highest grades intersected to-date in the current 25-hole drill program
  •  
  • New drilling confirms continuation of high-grade near-surface copper-tin-silver (Cu-Sn-Ag) mineralization
  •  
  • Mineralization remains wide open, with grades increasing to the west and down-dip to the north
  •  

 Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is pleased to announce the intersection of additional high-grade near-surface copper mineralization at the Company's 100% owned Escacena Project in the Iberian Pyrite Belt in southern Spain .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PAN GLOBAL COMPLETES UPSIZED $6 MILLION PRIVATE PLACEMENT FINANCING

PAN GLOBAL COMPLETES UPSIZED $6 MILLION PRIVATE PLACEMENT FINANCING

 
 

/NOT FOR DISSEMINATION, RELEASE OR PUBLICATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

 

  TSXV: PGZ   |   OTCQX: PGZFF  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PAN GLOBAL INCREASES PRIVATE PLACEMENT FINANCING FROM $2 MILLION TO $6 MILLION DUE TO STRONG DEMAND

PAN GLOBAL INCREASES PRIVATE PLACEMENT FINANCING FROM $2 MILLION TO $6 MILLION DUE TO STRONG DEMAND

 
 

/NOT FOR DISSEMINATION, RELEASE OR PUBLICATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

 

  TSXV: PGZ | OTCQX: PGZFF  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PAN GLOBAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

PAN GLOBAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

 
 

/NOT FOR DISSEMINATION, RELEASE OR PUBLICATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

 

  TSXV: PGZ  | OTCQX: PGZFF  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PAN GLOBAL ANNOUNCES FIRST ESG REPORT

PAN GLOBAL ANNOUNCES FIRST ESG REPORT

 
 

  TSXV: PGZ  |  OTCQX: PGZFF  

 

 Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is pleased to announce completion of the Company's first sustainability assessment report from Digbee ESG ™ ("Digbee"), a leading independent assessment platform for the mining industry.

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
[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.

 

    
Click Image To View Full Size
    
Click Image To View Full Size
 

 

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.

 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bold Ventures Provides Update on Field Work at Burchell Property

Bold Ventures Provides Update on Field Work at Burchell Property

 

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to provide an update on the progress of field work at its Burchell Gold and Copper Property, located approximately 100 km west of Thunder Bay.

 

Prospecting, outcrop mapping and soil sampling were carried out during the months of May and June on a 1 km by 800 m flagged grid centered on the recently discovered 111 Zone, where grab samples returned between 10 ppb gold and 68 g/t gold last December (see news releases dated December 12, 2024 and January 9, 2025). More than 600 rock and soil samples have been submitted for analysis from this first phase of field work, with final results pending.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

 

(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia July 3 rd 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), is pleased to announce a $1,000,000 hard dollar financing from one strategic investor, further confirming the support and excitement of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a globally ranked tier 1 jurisdiction with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

 

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce assay results from six grab samples collected at the Main Mineralized Zone ("MMZ") of its wholly-owned, road-accessible Havens Steady VMS Property ("Havens Steady" or the "Property") in central Newfoundland. These samples confirm high-grade lead-zinc-silver mineralization at surface and show associated gold and copper enrichment consistent with a polymetallic volcanogenic massive sulphide ("VMS") system.

 

The grab samples were collected during a recent field visit, focused on confirming the tenor and extent of exposed mineralization within the MMZ. All samples were collected from bedrock outcroppings of gossanous surface material. Surface grab sample highlights are given in Table 1, below.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×