Prismo Metals Announces 20.3 g/t Gold over 0.6 meters at Los Pavitos

Prismo Metals Announces 20.3 g/t Gold over 0.6 meters at Los Pavitos

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce assays for 277 samples from ongoing property-scale exploration of its 5289 hectare (20 square miles) Los Pavitos project located in the well mineralized Alamos region of southern Sonora State, Mexico. The best results are from the Santa Cruz target area, which yielded numerous gold assays above 5 gt over widths of 0.20 to 1 meter. The best structure shows 20.3 gt gold over 0.6 meters. At least six other target areas have been identified for additional detailed work to develop drilling targets for later this year. Drilling permits are in process and drilling is expected to begin in Q2 2023.

The mapping and sampling program at Santa Cruz is the first systematic exploration conducted on the project and was guided by previous regional reconnaissance exploration. A total of 175 samples (not including control samples) were taken on, and between, a series of parallel veins in the Santa Cruz area. Thirty-seven samples yielded 0.5 g/t or more Au, and seven samples also assayed over 100 g/t Ag. Pathfinder elements As and Bi are also generally strongly anomalous. Highlight assays and a general geologic and gold results map are below (Table 1, Figure 1). Full assay results and detailed metals distribution maps are available at www.prismometals.com.

"We are very pleased to see such consistent and high-grade gold results emerge from our first detailed sampling program at Pavitos," said Dr. Craig Gibson, President and CEO of the Company. "The highest gold assays came from an area of stockwork veining and disseminations where the northeast-trending Santa Cruz vein is cut by a cross vein. Both trends project under cover from there and we will try to trace the mineralized structures by trenching once permits are approved."

Table 1. Highlight assays from the Santa Cruz area

SampleTypeStyleWidth (m)EastingNorthingAu_g/tAg g/tAs_ppmBi_ppm
11801ChannelVeinlets0.20677,1103,002,1400.689.5226200.57
11802ChannelVeinlets0.20677,1093,002,1455.8124.445102.11
11815ChannelVeinlets0.50677,2733,002,1983.881.165920.51
11819ChipChip1677,0683,002,1170.745.476200.12
11821ChipChip0.40677,0683,002,1151.126.872870.1
11825ChipChip0.60676,8173,001,8546.096.3127701.89
11826ChannelVein0.70676,8163,001,8511.9243.7>1000012.4
11829ChipIron staining1676,8473,001,8851.5520.16590.34
11830ChipBreccia0.10676,8463,001,8851.677.0417450.78
11831ChannelVeinlets0.5677,2733,002,2010.9480.754160.17
11833ChannelVeinlets0.5677,2893,002,19818.8527.813550.34
11834ChannelVeinlets0.5677,2893,002,1985.5183.545700.42
11847ChannelVein0.60676,8553,001,8957.1863.967803.26
11848ChannelVein0.60676,8533,001,8951.8129.543201.06
11849ChannelVein0.60676,8553,001,8959.55252>100002.5
11850ChannelVein0.60676,8593,001,89920.317116252.44
11852ChannelVein0.60676,8643,001,9042.8810.15>100000.61
11857ChipIron staining0.30676,8103,001,9362.431842230102.5
11858ChannelVein0.70676,8103,001,9351.272129224.9
11859ChannelVein0.70676,8083,001,9331.8826.6110024.4
11863ChipChip1676,8083,001,9412.12629522.7
11872ChannelVein0.60677,0683,001,7801.73211>100000.9
11876ChannelVein0.60676,7943,001,8300.7760.825881.1
11877ChannelVein1676,7953,001,8292.951.6717403.57
11878ChannelVein0.80676,8033,001,8140.8843.089542.03
11879ChipDisseminated0.80676,8033,001,8120.9331.8221003.16
11890ChannelVeinlets1677,4133,002,3360.8311.524180.35
11896ChannelVeinlets0.50677,2883,002,1957.746329001.07
11981ChannelVeinlets0.20677,0483,001,7321.06180>100002.98
11986ChannelVeinlets0.20677,1023,001,7581.115.590400.59
12008ChipDisseminated1676,8333,001,8704.4414.7544005.55
12018ChipIron staining1676,5413,001,4501.5739.9>100001.72
12021ChannelVein1676,9183,001,6910.545181>100001.25
12022ChipIron staining1676,9133,001,6900.51711283600.65
12025ChannelVeinlets0.20676,5093,001,4020.63132.3>100000.31
12033ChipChip1677,2683,002,1937.5219.8281011.65
12034ChipChip1677,2833,002,2019.7783.340401.15

 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/160975_prismofigure1_550.jpg

Figure 1. Gold assays in the Santa Cruz area of the Los Pavitos project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7434/160975_prismofigure1.jpg

Mapping and sampling at Los Pavitos was conducted in the first half of 2022 and covered about 75% of the principal area of interest before taking a break for the monsoon season. In December, 2022 and January, 2023 mapping of the balance of the principal area of interest was completed and assays for 102 samples have recently been received. Two mineralized trends that reflect the main northeasterly and northwesterly structural orientations that characterize the rest of the project were defined.

Gold and associated pathfinder element (As and Bi) revealed two new target areas in the northwestern portion of the mapped area (Table 2, Figure 2). One is an area of quartz veining associated with a pyrite-rich rhyolite porphyry intrusion may be the extension of the Las Auras structural trend mapped in the northwestern portion of the project. The second target area is cut by north-northeasterly trending veins associated with a large area of silica-pyrite alteration.

Geologic mapping at the project in 2022 refined the Las Auras, Santa Cruz and Oromuri structural trends identified during earlier reconnaissance work by Minera Cascabel. Several additional new parallel structures have been recognized, including the La Española, San Jorge and La Ramada faults. Areas of mineralization identified during the recently completed work on the southeastern portion of the project will be added to the areas for more detailed examination.

Table 2. Analytical results for selected samples from the newly mapped area

SampleTypeStyleWidth (m)EastingNorthingAu_g/tAs_ppmBi_ppm
11760ChipDisseminated0.4680,5032,999,4881.7246.61.81
11784ChipDisseminated0.7679,2202,998,8200.0022.615.85
11795ChipDisseminated0.3678,0523,000,1920.0063403.08
11796ChipDisseminated0.3678,0503,000,1900.00410301.49
11916ChipDisseminated0.6678,1783,000,5070.372>100004.04
11917ChipDisseminated0.4678,1713,000,5010.687>100002.96
11918ChipDisseminated0.3678,1713,000,5010.059811016.9
11920CanalVein0.05679,1503,001,3300.01975.114.05
11928CanalVein0.03678,1763,000,1740.00589.51.46
11929ChipVeinlet0.4678,1963,000,1810.0041494.32
11945ChipVein0.2679,1022,998,8240.0012.61.51
11946ChipVein0.3679,0902,998,8640.0517.968
11948ChipDisseminated0.6679,0712,998,9000.0012.51.26
11955ChipDisseminated1.8677,8362,999,6970.0233141.4

 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/160975_prismofigure2_550.jpg

Figure 2. Geologic map of the southeastern portion of the Los Pavitos project showing mineralized areas identified by mapping and northwesterly and northeasterly orientation of structures.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7434/160975_prismofigure2.jpg

QA/QC

Samples taken by Prismo are analyzed by multielement ICP-AES and MS methods by ALS Group, an internationally recognized analytical service provider. Gold is analyzed as part of the ICP package using a 15-gram digestion. Certified Reference Materials including standard pulps and coarse blank material were inserted in the sample stream at regular intervals.

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI 43-01 regulations and President, CEO and a director of the Company, has reviewed and approved the technical disclosures in this news release.

About Los Pavitos

The Los Pavitos project consists of a 5,289-hectare concession located in the well mineralized Alamos region of southern Sonora State that lies 25 km west of the well-mineralized Alamos District, which encompasses several active exploration and mining projects, including the past producing Alamo Dorado mine of Pan American Silver, the Piedras Verdes copper mine of Cobre de Mayo and the Alamos and Aurifero vein projects being explored by Minaurum Gold Inc. Infrastructure is excellent with paved highway access, electricity and water. The project, which was generated by Rafael Gallardo, was acquired from Minera Cascabel S.A. de C.V., a Mexican exploration and services company founded by Dr. Peter Megaw, an advisor to the Company (for terms see the Company's prospectus filed on SEDAR). The Company completed a NI 43-101 Technical Report on the project in March 2021 available on SEDAR.

Assays have now been received for 460 rock samples taken by the Company (excluding control samples); a further 110 samples were taken previously by Minera Cascabel. Drilling at Los Pavitos is expected to begin in Q2 2023.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/160975_prismofigure3_550.jpg

Location of the Los Pavitos project in southern Sonora State in relation to the Caborca Orogenic Gold Belt.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7434/160975_prismofigure3.jpg

About Prismo

Prismo (CSE: PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube.

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

Contact:
Craig Gibson, President & Chief Executive Officer craig.gibson@prismometals.com

Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including CSE acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160975

News Provided by Newsfile via QuoteMedia

PRIZ:CNX
Prismo Metals

Prismo Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Prismo Metals (CSE:PRIZ)

Prismo Metals


Keep reading...Show less
Prismo Metals Announces $3 Million Private Placement

Prismo Metals Announces $3 Million Private Placement

(TheNewswire)

Prismo Metals Inc.

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

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Artificial Intelligence Study Confirms Prismo Metals' Exploration Plan at Hot Breccia

Artificial Intelligence Study Confirms Prismo Metals' Exploration Plan at Hot Breccia

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF) is pleased to announce that it has received the results of the artificial intelligence ("AI") study at the Hot Breccia project in Southern Arizona undertaken by Exploration Technologies Inc. ("ExploreTech") of California, USA

The AI study results provide support for the Company's exploration plan at the project, identifying the most likely location for a large body of sulfide mineralization as the same general area as the historic drilling and the dike swarm with xenoliths of Cu-bearing skarn as well as the conductive anomaly from the 2023 ZTEM survey. The postulated sulfide mineralization measures 1,100 meters by 1,150 meters (Figure. 1).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Drilling Has Started at Prismo Metals' Palos Verdes Project

Drilling Has Started at Prismo Metals' Palos Verdes Project

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that drilling at its Palos Verdes project in Mexico has started. Hole PV-24-34 of this collaborative drilling program with Vizsla Silver Corp's (TSXV:VZLA) ("Vizsla") was collared on Vizsla's property. The planned length of the first hole is 250 meters out of a total expected 1,250 meters in the first phase of the program now underway

Dr. Craig Gibson, Co-Founder and Chief Exploration Officer of the Company explained: "The goal of the first phase of drilling is designed to explore the vein system to the west of the fault below the zone of bonanza grade intercepts from the previous campaigns. We expect the first hole to cut both the Palos Verdes vein as well as the higher gold-silver vein about 50 meters downdip from the previous intersections. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023)."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Prismo Metals Announces Security Based Compensation Grants

Prismo Metals Announces Security Based Compensation Grants

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

Prismo Metals Inc. ("Prismo" or the "Company") (CSE:PRIZ)(OTCQB:PMOMF) announces that, pursuant to the Company's long-term incentive plan, it has granted a total of 1,275,000 stock options (the "Options") to certain directors and officers of the Company and 200,000 Options to certain consultants of the Company. The Options are each exercisable to purchase one common share of the Company (a "Common Share") at an exercise price of $0.205 for a period of five years. The Options will vest over one year, with one-third of the Options vesting every three months

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Prismo Metals Acquires Data and Updates Model for Hot Breccia Copper Project in Arizona

Prismo Metals Acquires Data and Updates Model for Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has updated the mineralization model for the Hot Breccia project in Southern Arizona based on important historical information recently acquired from a third party. The information includes historic Bear Creek Mining Company (then a subsidiary of Kennecott Copper Co. (now part of Rio Tinto, ASX: RIO) exploration data, gathered between the completion of a masters thesis by Larry Barrett (1972) (1) through the completion of their first drill hole on our Hot Breccia property between 1972 and mid-1974. The recently acquired information includes a complete log and assays for hole OC-1 and a geological interpretation after holes OC-1 to OC-3 were completed(2

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
RETRANSMISSION: Grande Portage Completes Non-Brokered Private Placement

RETRANSMISSION: Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") announces that after consultation with its registered finders, the Company has now concluded its non-brokered private placement under Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption. As previously announced on November 13, 2024, the Company sold 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Company had filed an offering document related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Completes Non-Brokered Private Placement

Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") announces that after consultation with its registered finders, the Company has now concluded its non-brokered private placement under Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption. As previously announced on November 13, 2024, the Company sold 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Company had filed an offering document related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Pinnacle Provides Updates on Proposed Acquisition of El Potrero Gold-Silver Project in Mexico, and on Canada Postal Strike and Mailing of the Company's 2024 Annual General Meeting Materials

Pinnacle Provides Updates on Proposed Acquisition of El Potrero Gold-Silver Project in Mexico, and on Canada Postal Strike and Mailing of the Company's 2024 Annual General Meeting Materials

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA, December 10, 2024 TheNewswire - (TSXV: PINN; OTC:NRGOF; Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is providing an update on the proposed acquisition of a staged option to acquire up to a 100% interest, subject to a 2% NSR, in the Potrero gold-silver project in Durango, Mexico, as announced in Pinnacle news release of Oct. 28, 2024 .

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Element79 Gold Corp Provides Corporate Update with Focus on Peru, Nevada Projects

Element79 Gold Corp Provides Corporate Update with Focus on Peru, Nevada Projects

(TheNewswire)

Element79 Gold Corp.

Consistent progress towards near term renewal of surface rights access in Peru

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Riverside Resources Expands British Columbia Rare Earth Elements Property Portfolio with Taft Project Acquisition

Riverside Resources Expands British Columbia Rare Earth Elements Property Portfolio with Taft Project Acquisition

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce it has signed an option agreement to acquire a 100% interest in the Taft Project ("Project"). The Project covers a total area of 3,000 hectares (30 km2) and is located in the highly prospective Revelstoke Carbonatite Belt region of British Columbia for Rare Earth Elements (REE) and gold mineralization. This transaction aligns with Riverside's strategy of targeting high-value mineral assets in favorable jurisdictions and taking advantage of government support led by technical quality as a focus. Critical metals, such as rare earth elements (REE), are essential for national security and economic prosperity and Riverside is actively strengthening its position by acquiring and staking high-potential critical metals projects. The Company plans to begin a field program on the Project immediately.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Successful $30m placement supports production growth in 2025

Successful $30m placement supports production growth in 2025

Brightstar Resources (BTR:AU) has announced Successful $30m placement supports production growth in 2025

Download the PDF here.

Prismo Metals

Prismo Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×