Gold

Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce that it has reached an agreement with certain of its warrantholders, including a number of insiders (collectively, the "Warrantholders"), to exercise a total of up to 6,821,250 outstanding founder warrants (the "Warrants") for gross proceeds of $682,125. The Warrants were issued to such Warrantholders in 2018 and 2019, prior to the Company's initial public offering. Each Warrant entitles the holder thereof to purchase one common share of Prismo at a price of $0.10 per share.

The proceeds received by Prismo following the exercise of the Warrants will be primarily used to drill a minimum of 2,000 meters of HQ core at the Company's Verdes property in several holes to test mineralization at depth under the high-grade intercepts from previous drilling campaigns. Two of these holes intersected high-grade mineralization similar in grade and width to the results of Vizsla Silver Corp. in the Panuco district, whose property is contiguous to Palos Verdes. The best intercepts of these previous drilling campaigns were 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020). The Company believes these intercepts indicate the presence of a potentially large Ag-Au shoot of the type being defined by Vizsla Silver.

The Company also expects to use some of the proceeds to finalize surface exploration work on the Los Pavitos property to advance to the drill ready stage, with expected drilling in the fall.

"Immediately following the exercise of the warrants, Prismo will be selecting a drilling contractor and expects drilling to begin in late-July pending reception of our environmental permit," said Dr. Craig Gibson, President and CEO of Prismo. He added: "The results recently announced by Vizsla Silver (https://vizslasilvercorp.ca/news/2022) support the large vertical extent of mineralization in the Napoleon vein system, but importantly show the presence of multiple mineralized strands or splits to the vein system, a feature we see at high structural levels at Palos Verdes."

Regarding exploration at Prismo's other project in Mexico, Dr. Gibson said: "We are also pleased to announce that we recently completed a LiDAR survey conducted over almost 40 square kilometres at the Los Pavitos project. We expect to receive the analysis of the LiDAR results in a few weeks to aid in the delineation of important structural trends and complete the work to identify drill targets this summer."

Prismo will be hosting an investor update ZOOM call on Friday June 17th, 2022 at 4:00 pm EDT.

Topic: Prismo - Investor Update
Time and date: Jun 17, 2022 4:00 PM Eastern Time
Format: Management presentation (15 to 20 minutes) followed by question period (5 to 10 minutes). Please email your questions to jason.frame@prismometals.com
Zoom Meeting Link: https://us02web.zoom.us/j/85855536358?pwd=ZitnS0xGbUlzQUk2OGN6NjNKL3NWUT09
Meeting ID: 858 5553 6358
Passcode: CyDF90

The investor update will be posted on the Company's website immediately following the meeting.

Prior to the exercise of the Warrants, and as a condition precedent thereto, the Warrantholders have agreed to sell up to 4,547,500 common shares of Prismo (the "Share Sale") at a price of $0.15 per share to various third-party investors identified by Haywood Securities Inc. and other registered dealers. The Company will pay Haywood Securities Inc. and other registered dealers a finder's fee in the amount of five percent of the gross proceeds received by Prismo in connection with these trades. Prismo has entered into a finder's fee agreement with Haywood Securities to assist with these trades.

The Share Sale will be conducted during the week of June 20th, 2022 in an alternative market prior to the opening of the markets. The Company does not anticipate the creation of any new insider of the Company as a result of the Share Sale.

The Warrantholders have agreed with Prismo to use the entirety of the proceeds from the Share Sale to individually exercise Warrants. As a result of the aforementioned transactions, insiders forming part of the group of Warrantholders are expected to exercise 3,671,250 Warrants for aggregate gross proceeds of $367,125 and to sell 2,447,500 common shares through the Share Sale.

After giving effect to these Warrant exercises, the Company will have 28,049,973 common shares issued and outstanding and the insiders of the Company, will own and control 5,174,001 common shares after the Share Sale representing approximately 18.4% of the Company's outstanding shares. Such insiders will also own and control 778,750 Warrants.

About Prismo

Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.

Contact: Craig Gibson, Chief Executive Officer and Director
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
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 news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Click here to connect with Prismo Metals Inc. (CSE: PRIZ) to receive an Investor Presentation

Source

PRIZ:CNX
Prismo Metals

Prismo Metals


Keep reading...Show less
Prismo Metals Announces Closing of Financing and Appointment of New Director

Prismo Metals Announces Closing of Financing and Appointment of New Director

Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce that it has completed its previously announced financing for gross proceeds of $682,125 through the exercise of warrants by certain warrantholders, including a number of insiders.

"The proceeds received by Prismo will be primarily used to drill a minimum of 2,000 meters of HQ core at the Company's Verdes property in several holes to test mineralization at depth under the high-grade intercepts from previous drilling campaigns," said Dr. Craig Gibson, President and CEO of Prismo. He added: "Two of these holes intersected high-grade mineralization similar in grade and width to the results of Vizsla Silver Corp. (TSXV: VZLA and NYSE: VZLA) in the Panuco district, whose property is contiguous to Palos Verdes. The best intercepts of these previous drilling campaigns were 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020). The Company believes these intercepts indicate the presence of a potentially large Ag-Au shoot of the type being defined by Vizsla Silver."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Prismo Metals Announces Drilling at Palos Verdes Warrant Exercise Financing and Investor Update Call

Prismo Metals Announces Drilling at Palos Verdes Warrant Exercise Financing and Investor Update Call

Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce that it has reached an agreement with certain of its warrantholders, including a number of insiders (collectively, the "Warrantholders"), to exercise a total of up to 6,821,250 outstanding founder warrants (the "Warrants") for gross proceeds of $682,125. The Warrants were issued to such Warrantholders in 2018 and 2019, prior to the Company's initial public offering. Each Warrant entitles the holder thereof to purchase one common share of Prismo at a price of $0.10 per share.

The proceeds received by Prismo following the exercise of the Warrants will be primarily used to drill a minimum of 2,000 meters of HQ core at the Company's Verdes property in several holes to test mineralization at depth under the high-grade intercepts from previous drilling campaigns. Two of these holes intersected high-grade mineralization similar in grade and width to the results of Vizsla Silver Corp. in the Panuco district, whose property is contiguous to Palos Verdes. The best intercepts of these previous drilling campaigns were 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020). The Company believes these intercepts indicate the presence of a potentially large Ag-Au shoot of the type being defined by Vizsla Silver.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
metals

Prismo Metals Files NI 43-101 Technical Report for Los Pavitos Gold-Silver Project in Sonora, Mexico

Prismo Metals Inc. (CSE: PRIZ) (the "Company" or "Prismo") is pleased to announce that it has filed on SEDAR a NI 43-101 Technical Report for its Los Pavitos Gold-Silver Project in southern Sonora, Mexico. Los Pavitos is a single 5,289 hectare concession that lies 25 km west of the well-mineralized Alamos District, which encompasses several active exploration and mining projects, including the Alamo Dorado mine of Pan American Silver, the Piedras Verdes mine of Cobre de Mayo and the Alamos and Aurifero vein deposits being explored by Minaurum Gold Inc. Infrastructure is excellent with paved highway access, electricity and water. Prismo has an option to acquire 100% 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 of the option, see the Company's prospectus filed on SEDAR dated September 8, 2020).

Past work has identified numerous historic small mines and prospects located along three northeast and northwest-trending property-scale structural corridors extending from outcropping mineralization towards covered areas. Reconnaissance work has identified three main target areas: two lie entirely within the Los Pavitos concession and one is partly covered by a small (200ha) group of internal claims owned by third parties. Historic rock samples from these structures have yielded from 1 g/t over 1.75m to 40.8 g/t Gold over 0.3 meters (See Table 1). The property is largely unexplored and additional targets are expected to be developed quickly through satellite image analysis and field work.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
concordia important dates

Prismo Metals Reports Results from Palos Verdes Vein Drilling

Includes 315 g/t (10 oz/T) silver with 0.46 g/t Au over 0.5m

Prismo Metals Inc. (CSE: PRIZ) (the "Company" or "Prismo") is pleased to provide results from its initial five hole, 573m shallow-level diamond drilling program carried out on its 100% owned Palos Verdes project, located in the famous Panuco-Copala Mining District in Concordia Municipality of Sinaloa, State, Mexico. The program was designed to test the nature and continuity of mineralization below and lateral to historic shallower-level reconnaissance drilling (See Press Release of 9302020) and to test a newly inferred cross-vein.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
drill meaning

Prismo Metals Updates Drilling at the Palos Verdes Property

Prismo Metals Inc. (CSE: PRIZ) (the "Company" or "Prismo") is pleased to provide an update of the drilling program underway at its Palos Verdes project, located in Concordia Municipality, Sinaloa, Mexico. The Company has completed its 2020 drilling campaign with four holes totaling 436.8 metres of a planned 500-metre program. Three holes focused on testing the Palos Verdes vein lateral to, and below, the 8.4 gt Au and 2,336 gt Ag, over 0.8m true width drilled in May 2018 (See Prismo press release of September 30, 2020). The fourth hole tested a northwest-trending shear zone that was traced across the property just before the drilling program. Problems with the drill rig mean the planned fifth hole may not be completed until after the holiday break.

The three Palos Verdes vein holes cut zones between 10 and 20 metres wide (estimated true thickness) laced with multiple, closely spaced, variably mineralized quartz veins and vein breccias. These multistage vein zones show several different styles and textures of quartz veining and sulphide mineralization. Some stages are dominated by pyrite, sphalerite, galena and chalcopyrite, while others show variable amounts of a very fine-grained black opaque mineral that may be silver sulphide (acanthite). Photos of core from typical vein intercepts are presented on the Prismo website at https://prismometals.com/project/the-palos-verdes-property. Assay results for 119 samples from the first three holes are expected by February 2021, followed by those for the fourth hole which should be submitted this week.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
gold bars with money

VIDEO — George Salamis: Major Gold Miners Making Money, but Volatility Curbing Big Decisions

George Salamis: Major Gold Miners Making Money, but Volatility Curbing Big Decisionsyoutu.be

Turmoil continues to rock the broader markets, and while the gold price has also suffered declines, George Salamis believes it's holding up well compared to other assets.

"Gold has hung in there pretty well relative to other investments — other commodities, currencies. I think it's held its own," he said at the Prospectors & Developers Association of Canada (PDAC) convention.

Salamis, who is the president and CEO of Integra Resources (TSXV:ITR,NYSEAMERICAN:ITRG), explained that he also sees gold miners doing well, but thinks volatility is stopping them from making moves.

Keep reading...Show less
Breaker Resources

Breaker Resources


Keep reading...Show less

NOVAGOLD Reports Second Quarter 2022 Financial Results

Donlin Gold's Largest Drill Program in Over 10 Years Advancing in Preparation for Feasibility Work

Strong Treasury of $142 Million in Cash and Term Deposits; $25 Million of Receivables in 2023

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

WHEATON PRECIOUS METALS RECOGNIZED IN CORPORATE KNIGHTS' 2022 LIST OF THE BEST 50 CORPORATE CITIZENS IN CANADA

TSX | NYSE | LSE: WPM

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that it has been named to the Corporate Knights' 2022 list of the Best 50 Corporate Citizens in Canada .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Yamana Gold Provides Notice of Second Quarter 2022 Results

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") will release its second quarter 2022 operational and financial results after the market closes on Thursday, July 28, 2022, Eastern Daylight Time ("EDT"). The Company will then host a conference call and webcast to review the results on Friday, July 29, 2022 at 9:00 a.m. EDT.

The Company also plans to provide a pre-release of production for the second quarter with a further update on certain optimizations and project advancements on or around Thursday, July 7, 2022.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
gold coins and us money

VIDEO — Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Now

Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Nowyoutu.be

Strength in the US dollar is keeping the gold price in check right now, but that won't last forever.

Speaking to the Investing News Network, Will Rhind, CEO of GraniteShares, said the yellow metal is in a good position given market conditions and looks set to strengthen moving forward.

"(Gold has) really managed to shrug off a lot of the negatives around rising rates and a strong dollar, and I think people have got to ask themselves, 'How much more can the dollar strengthen from here? ... Realistically is there more upside for the dollar here, or for gold?' I think clearly I'm in the camp of favoring gold on that one," he said.

Keep reading...Show less

Latest Press Releases

Related News

×