Prismo Metals Announces Private Placement, Debt Settlement and Exploration Update

Prismo Metals Announces Private Placement, Debt Settlement and Exploration Update

HIGHLIGHTS

  • Prismo Metals has received commitments for a $1.1 million private placement of units at a price of $0.17 per unit.
  • Hot Breccia Copper Project (Arizona):
    • Permit expected this month.
    • Upcoming exploration program to focus on diamond drilling five holes with an expected depth of 1,000 metres each.
  • Palos Verdes Silver Project (Mexico):
    • Planning to drill approximately 3,600 meters in ten holes to be completed in two phases.
    • These holes will be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth.

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) is pleased to announce that it has received commitments for 6,500,000 units of the Company ("Units") at a price of $0.17 per Unit for gross proceeds of $1,105,000 to be issued on a non-brokered private placement basis (the "Private Placement"). The total amount of the Private Placement has been committed to and the Company expects that the Private Placement will be fully subscribed at a closing expected to take place on or around June 18, 2024

Each Unit consists 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 entitles the holder to purchase one common share in the capital of the Company for a period of twenty-four (24) months from the date of issue at an exercise price of $0.25.

Steve Robertson, President of Prismo Metals commented: "The recent strengthening in commodity prices has resulted in renewed interest from investors in exploration companies like ours. We are pleased to welcome several new incoming shareholders who will be participating in the Private Placement. Our priorities this year remain to start drilling at our Hot Breccia copper project located in the heart of the Arizona copper belt and to test the Palos Verdes vein at depth on our silver project of the same name in Mexico."

Mr. Robertson added: "The anticipated exploration program at Hot Breccia will focus on diamond drilling five holes with an expected depth of 1,000 metres each, for a program total of 5,000 metres. The actual depth of each drill hole will be determined by the stratigraphy encountered. The exploration team would like to ensure the entire Paleozoic carbonate sequence, which are the most prospective host rock for mineralization, is intersected. Arrangements for the start of drilling will be underway once the final Bureau of Land Management ("BLM") permit is fully in place, which is anticipated to occur in the near future."

Regarding the Palos Verdes silver project in Mexico, Craig Gibson, Co-Founder and Chief Exploration Officer said: "Immediately following closing of the Private Placement, we will mobilize our drilling crew at our Palos Verdes for our next phase of drilling. We are planning to drill approximately 3,600 meters in ten holes to be completed in two phases. These holes will be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth. This drill program follows a recommendation presented by the Panuco Joint Technical Committee. The Joint Technical Committee is comprised of Prismo's CXO Dr. Craig Gibson, Vizsla Silver's VP Exploration Dr. Jesus Velador, and Dr. Peter Megaw."

About Hot Breccia

The Hot Breccia property consists of 1,420 hectares 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well-understood world-class copper mines including Morenci, Ray and Resolution (Figure 1). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth. Prismo ran a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops (Figures 2 and 3).

Sampling at the project has shown the presence of copper and gold mineralization associated with polymictic breccia that has brought fragments of sedimentary rocks and mineralization to the surface from depths believed to be 400-1,000 meters below the surface. Drilling of deep holes, possibly including a twin of an historical hole, is planned.

Gold mineralization ranging from anomalous values of 0.1-0.3 g/t to 28 g/t with local copper has also been encountered at the surface associated with dikes (see News Release of July 11, 2023).

Figure 1: Location of the Hot Breccia copper project in Arizona.

Figure 2. View of the subsurface looking northeasterly showing the conductive body from the ZTEM survey and cross sections of the Christmas deposit and the Hot Breccia area. Historic drill holes are shown with copper assays as disks within the red ellipse; the magenta color indicates > 1% Copper.

Figure 3. Plan view of the surface geology showing the hot breccia land boundary in black and the cross sections from Fig. 2. The surface projection of the conductive body shown in Fig. 2 is roughly outlined in red.

Assay results from historical drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions.

About Palos Verdes

The Palos Verdes project is located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. Shallow drilling (www.prismometals.com ). This mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.

A geochemical sampling program conducted in late 2023 focused on narrow and most strongly mineralized portions of the vein was conducted along the exposed strike length of the Palos Verdes vein system. The best sample from that program assayed 930 g/t silver and 10.55 g/t gold with 15.4% zinc and 4.5% lead (2,605 g/t Ag/Eq) over 0.5 meters. Strongly anomalous values of precious metal and indicator elements occur above the mineralized shoot identified during drilling and also along the vein system further to the northeast. This area may indicate the presence of a second blind mineralized shoot that will also be tested by the deep drilling from Vizsla ground.

Table 1. Assay highlights for Palos Verdes sampling program.

Sample

UTM Coordinates WGS84

Length

Au

Ag

Cu

Pb

Zn

E

N

meters

g/t

g/t

%

%

%

126032

414,003

2,593,429

0.5

0.833

280

-

-

-

126035

414,173

2,593,467

1.0

0.854

174

-

-

-

126036

414,171

2,593,459

1.0

0.152

103

-

-

-

126037

414,188

2,593,470

1.0

5.96

433

-

-

-

126038

414,205

2,593,469

1.0

0.249

75.5

-

-

-

126041

414,093

2,593,387

1.0

0.969

415

-

-

-

126068

413,520

2,593,029

0.5

0.174

103

-

-

-

126072

413,591

2,593,121

0.5

0.184

98.8

-

-

-

126077

413,627

2,593,102

0.5

1.285

326

-

-

-

126079

413,663

2,593,137

0.5

0.331

78.1

-

-

-

126083

413,722

2,593,333

0.5

0.459

65

-

-

-

126085

413,740

2,593,176

0.5

0.203

82.6

0.94

4.55

14.23

126086

413,736

2,593,175

0.5

10.55

930

0.78

4.50

15.40

126088

413,746

2,593,182

0.5

0.073

76.8

0.78

1.14

2.03

126089

413,744

2,593,076

0.5

0.034

24.5

0.22

2.33

3.40

126095

413,734

2,593,145

0.5

1.19

190

-

-

-

517878

413,751

2,593,180

0.5

0.079

61.7

0.32

0.73

11.85

517879

413,742

2,593,180

0.5

0.182

129

0.18

8.22

15.65

The Company completed its third drill campaign last year with 2,923 meters drilled in 15 holes with high grade mineralization encountered in several holes. Assays previously reported from this program include the highest-grade intercept recorded at the project in 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 (see News Release of July 27, 2023). The last eight drill holes in the program, PV-23-26 to PV-23-33 were drilled to test the limits of the mineralized shoot in the western portion of the vein at depth and to the east of the NW fault.

Holes PV-23-27 and PV-23-29 to PV-23-33 tested the mineralized shoot to define the limits of mineralization and cut variably mineralized vein material (Table 1). The angle of inclination of several holes was very steep at -75 degrees, and drilling from the Vizsla Silver ground will provide more useful information.

Holes PV-23-26 and PV-23-28 explored to the east of the NW fault and did not cut significant mineralization but provided valuable information for the next holes that need to be drilled deeper from the adjoining Vizsla Silver ground.

2023 Palos Verdes Drilling Highlights

PV-23-25:

  • This hole intersected 11,520 g/t Ag equivalent over 0.5 meters (3,100 g/t Ag, 102 g/t Au and 0.26% Zn)
    • This intercept is part of a wider mineralized interval with 4,311 g/t Ag equivalent over 1.35 meters (1157 g/t Ag, 38 g/t Au and 0.1% Zn)
  • A second interval higher in the hole yielded 512 g/t Ag equivalent over 0.3 meter (384 g/t Ag, 1.36 g/t Au and 0.27% Zn)

PV-23-24:

  • This hole intercepted 1,234 g/t g/t Ag equivalent over 0.7 meter (60 g/t Ag, 11.9 g/t Au and 3.9% Zn)
    • This interval is within a wider 2.6-meter interval with 384 g/t Ag equivalent (32 g/t Ag, 3.3 g/t Au and 1.57% Zn)
  • A second interval higher in the hole yielded 302 g/t Ag equivalent over 1.2. meters (95 g/t Ag, 1.84 g/t Au and 1.2% Zn)

PV-23-20:

  • This hole intercepted 189 g/t g/t Ag equivalent over 0.9 meters (58 g/t Ag and 1.58 g/t Au) and is the first mineralized intercept in the northeastern portion of the concession

PV-23-32:

  • This hole intersected 450.2 g/t Ag equivalent over 0.3 meters (45 g/t Ag, 0.83 g/t Au, 0.43% Pb, and 0.47% Zn) as part of a larger zone of 2.2 meters with 115 g/t Ag equivalent
  • A second interval deeper in the hole yielded 391.5 g/t Ag equivalent over 0.4 meters (17 g/t Ag, 3.56% Pb, 6.03%Zn) within a larger interval of 5.55 meters with 103.8 g/t Ag equivalent

PV-23-33:

  • This hole intersected 112.7 g/t Ag equivalent over 0.35 meters (37 g/t Ag, 0.489 g/t Au, 0.36% Pb, and 0.56% Zn)
  • A second interval deeper in the hole yielded 105.6 g/t Ag equivalent over 0.3 meters (20 g/t Ag, 0.22% Pb, 1.79% Zn)
  • A third interval contained 382.2 g/t Ag equivalent over 0.45 meters (144 g/t Ag, 0.45% Pb, 5.12% Zn) within a 0.75-meter interval of 253.4 g/t Ag equivalent (95 g/t Ag, 0.31% Pb, 3.39% Zn)

Figure 4. Geologic and drill hole map of the Palos Verdes and adjacent concessions with silver assays from the recent sampling and showing surface projection of the mineralized shoots and the high-level alteration assemblage discussed in the text. Planned deep drill holes from Vizsla Silver ground shown in purple and red color. Broad hachured swath is the northwest-trending structure interpreted to have offset the eastern extension of the vein.

Figure 5. View of subsurface at Palos Verdes, looking northerly, with the Palos Verdes vein projection in red and the high-grade mineralized shoot in magenta, apparently truncated by the NW fault, blue.

Table of drill highlights for the previously unreported holes at the Palos Verdes Project:

Hole

From
(m)

To
(m)

Width
(m)

Est True width (m)

Au
(g/t)

Ag (g/t)

Cu
(%)

Pb
(%)

Zn
(%)

*Ag eq (g/t)

PV-27

0.90

1.30

0.40

0.10

0.216

107

-

0.02

0.02

126.2

PV-32

109.40

111.60

2.20

1.41

0.16

17.5

0.27

0.92

1.30

115.4

111.30

111.60

0.30

0.19

0.83

45.0

0.68

4.32

4.67

333.9

150.10

155.65

5.55

3.57

0.20

20.7

0.16

0.61

1.09

103.8

155.25

155.65

0.40

0.26

0.04

17

0.21

3.56

6.03

391.5

PV-33

225.65

226.40

0.75

0.26

0.03

94.8

2.28

0.31

3.39

253.4

225.95

226.40

0.45

0.14

0.04

144

3.65

0.45

5.12

382.2

*Silver equivalent values are calculated using the following metals prices: Au, US$1,750/oz, Ag, $21.24/oz, Pb, $0.97/lb and Zn, $1.34/lb. Cu was not used in the calculation, and metallurgical recoveries were not considered as there is no data available for the Palos Verdes vein. True width estimated from hole inclination and estimated vein dip, where known.

Table of drill hole data for holes not previously released:

Hole

Target

Easting

Northing

Elev

Azim

Incl

Depth (m)

PV-23-26

NW fault

413,807

2,593,082

1,236

10

-45

327.00

PV-23-27

PV vein

413,814

2,593,082

1,226

320

-75

234.00

PV-23-28

NW fault

413,801

2,593,136

1,244

35

-60

117.00

PV-23-29

SW PV gap

413,735

2,593,073

1,216

330

-75

183.00

PV-23-30

SW PV gap

413,707

2,592,990

1,202

330

-50

180.00

PV-23-31

SW PV gap

413,709

2,592,990

1,200

330

-75

246.00

PV-23-32

SW PV gap

413,677

2,592,942

1,211

315

-50

199.50

PV-23-33

SW PV gap

413,678

2,592,938

1,216

330

-75

250.50

Coordinates in UTM WGS84 using handheld Garmin GPS.

Additional Information About the Private Placement

The Private Placement will be made available to subscribers pursuant to the accredited investor and friends, family and business associate exemptions provided under sections 2.3(1) and 2.5 of National Instrument 45-106 Prospectus Exemptions.

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on April 3, 2024, 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 Company intends to use the proceeds from the Private Placement to fund drilling at its Palos Verdes project, and for general working capital purposes. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary.

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.

All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

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

The Company also announces that it has entered into debt settlement agreements with certain creditors of the Company (the "Creditors") pursuant to which the Company has agreed to issue to the Creditors, and the Creditors have agreed to accept, an aggregate of 646,391 Units (the "Settlement Units"), in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $109,886.

Each Settlement Unit consists of one Share and one-half of one Warrant. Each such warrant shall entitle the holder to purchase one common share in the capital of the Company for a period of twenty-four (24) months from the date of issue at an exercise price of $0.25.

The Settlement Units will be subject to a statutory hold period of four months from the date of issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Updated Disclosure Regarding Closing of Prior Debt Settlement Transaction

The Company also wishes to clarify its previously disseminated press release dated April 5, 2024, announcing the closing of the Company's previously announced debt settlement transactions with certain creditors of the Company (the "Prior Debt Settlement"). The press release inadvertently disclosed in one instance that the Company issued a total of 788,235 Shares to ProDeMin, a company controlled by then President and CEO (now Chief Exploration Officer) of Prismo, Dr. Craig Gibson, in the Prior Debt Settlement. The actual number of Shares issued to ProDeMin was 588,235 as elsewhere stated in the news release.

QA/QC

Samples taken by Prismo are analyzed by multielement ICP-AES and MS methods internationally recognized analytical service providers. Certified Reference Materials including standard pulps and coarse blank material are inserted in the sample stream at regular intervals. Dr. Craig Gibson, PhD., CPG., a "Qualified Person" as defined by National Instrument 43-101 and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosure in this news release.

Not for distribution to U.S. news wire services or dissemination in the United States.

About Prismo Metals Inc.

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:
Alain Lambert, Chief Executive Officer alambert@cpvcgroup.ca
Steve Robertson, President steve.robertson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 expected closing date of the Private Placement; the anticipated proceeds to be raised under the Private Placement; the intended use of any proceeds raised under the Private Placement; the payment of any finder's fees in connection with the Private Placement; the issuance of the Settlement Units; the Company's plans to commence drilling at the Hot Breccia and Palos Verdes projects and the expected depth thereof; and the anticipated receipt of the final BLM permit and the timing thereof.

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 required regulatory approvals for the Private Placement and the Debt Settlement; market uncertainty; the inability of the Company to raise the anticipated proceeds under the Private Placement; the inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; delays or changes in plans with respect to exploration projects or capital expenditures, including in respect of the Company's proposed drill programs; delays in the receipt of the final BLM permit; the uncertainty of mineral resource exploration cost estimates; health, safety and environmental risks; worldwide demand for metals; metals prices and other commodity price and exchange rate fluctuations; environmental risks; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation: the Company will obtain the required regulatory approvals for the Private Placement; the Company will be able to raise the anticipated proceeds under the Private Placement and on the timetable anticipated; the Company will use the proceeds of the Private Placement as currently anticipated; the Company will issue the Settlement Units as anticipated; the Company will commence drilling at the Hot Breccia and Palos Verdes projects at the expected depth and on the timetable anticipated; and the final BLM permit will be received and on the timetable anticipated.

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.

SOURCE:Prismo Metals Inc.



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Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

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) is pleased to announce that further to its news release dated June 11, 2024, the Company has closed its previously announced non-brokered private placement (the "Private Placement") for gross proceeds of $1,147,500 through the issuance of 6,750,000 units of the Company ("Units

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[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

(TheNewswire)

Prismo Metals Inc.

Vancouver, BC TheNewswire - June 13, 2024  Global Stocks News On June 11, 2024 Prismo Metals (CSE: PRIZ) (OTCQB: PMOMF) updated the market with three significant announcements .

1. The company has received commitments for a $1.1 million private placement of units at a price of $0.17 per unit.

2. At its Hot Breccia Copper Project (Arizona ), a drilling permit is expected this month.  The upcoming exploration program will focus on diamond drilling five holes with an expected depth of 1,000 metres each .

3. At its Palos Verdes Silver Project (Mexico), there is a plan for a two-phase, 10-hole 3,600- meter drill program .

Prismo Metals is a base and precious metals company strategically positioned to benefit from the global transition to green energy (copper & silver) and the dedollarization of international currencies (gold).


Click Image To View Full Size

1. Non-Brokered Private Placement

Prismo received commitments for 6,500,000 units @ $0.17 per Unit for gross proceeds of $1,105,000 expected to be finalized on or around June 18, 2024.

Each Unit comes with a half-warrant.  Each whole warrant entitles the holder to purchase one common share or Prismo for two years @ $0.25.

"We are pleased to welcome several new incoming shareholders who will be participating in the Private Placement ," stated Steve Robertson, President of Prismo Metals .

2. Hot Breccia Copper Project

The Hot Breccia property consists of 1,420 hectares, 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well-understood world-class copper mines including Morenci, Ray and Resolution .

"At the Hot Breccia property, we're out in the desert and there's not a lot around except mines and mining towns," Alain Lambert, Prismo CEO told Guy Bennett, CEO of Global Stocks News (GSN). "The two towns in the area, Hayden (pop. 500) and Winkelman (pop. 290) are steeped in the history of Arizona mining. It's a mining friendly community with an experienced workforce."

" The anticipated exploration program at Hot Breccia will focus on diamond drilling five holes with an expected depth of 1,000 metres each , for a program total of 5,000 metres ," state Robertson in the June 11, 2024 press release. "We will soon be drilling a very exciting copper target, located in a favorable jurisdiction."

The Christmas project 4 kilometers north, is a model for Hot Breccia mineralization. It is associated with intermediate intrusive rocks into favorable sedimentary rocks. There are historic drill holes from 70's and early 80's on and near the property.

"The Christmas Mine started production before World War One and operated until 1982, with a small smelter on the property," Robertson told GSN. "It produced 25 million tonnes of 1.5% copper.  Christmas is a good indicator of the type of mineralization we are searching for at Hot Breccia."


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When investors hear "copper" they typically think "Chile" "Australia" or "Peru", but Arizona, USA is a major copper producer.

"If Arizona were a country, it would be the seventh largest producer of copper in the entire world," states the Arizona Mining Association .

There are 10 major copper mines in production in Arizona.  About 75% of US copper output comes from The Grand Canyon State.

According to the 2023 Fraser Institute Mining Survey , Arizona is the 7 th best mining jurisdiction on the global investment attractiveness index , which takes into account the impact of both policy factors and mineral endowment .

Chile, by contrast, ranks 60 th on the global investment attractiveness index.


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The Arizona Copper Belt has attracted some big mining companies.

Freeport-McMoRan (NYSE: FCX) – a $70 billion global resource company headquartered in Arizona operates the Morenci Mine which employs 3,760 workers, with a direct economic impact to the state of $691 million .

The Morenci Mine is a porphyry copper deposit that has oxide, primary and secondary sulfide mineralization.

Prismo's project, Hot Breccia shows many features in common with the neighboring systems of Morenci , Ray and Resolution .

On March 4, 2024 Prismo announced that it is engaging Exploration Technologies from San Diego, California to apply xFlare, their Artificial Intelligence (AI)-Optimized drill planning solution, to the Hot Breccia Project where a number of features suggests well mineralized Arizona-style Copper Porphyry lies at depth.

Prismo ran a ZTEM survey last year that identified a large conductive anomaly directly beneath the breccia outcrops.  Prismo expects xFlare's AI technology to zero in on where and at what depth to drill.

"ZTEM gives you a clear window into what's going on at depth," Robertson told GSN. "It's also an economic filter.  Small, mildly conductive zones are not going to show up. That's good for us. We're looking for big anomalies."


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3. At Palos Verdes Silver Project (Mexico), a plan for a two-phase, 10-hole 3,600- meter drill program .

The planned drill holes at Palos Verdes will be drilled from Vizsla Silver Corp (TSXV: VZLA) concessions, adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth," states PRIZ in the June 11, 2024 PR.

The project is located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia.

The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein.  The mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.

" Immediately following closing of the Private Placement, we will mobilize our drilling crew at our Palos Verdes for our next phase of drilling," stated Craig Gibson, Prismo Co-Founder and Chief Exploration Officer, " These holes will target the Palos Verdes vein at depth."

The Company completed its third drill campaign last year with 2,923 meters drilled in 15 holes with high grade mineralization encountered in several holes.

Assays included 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.


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Prismo Metals recently gave a presentation at the Deutsche Goldmesse conference in Germany, hosted by Soar Financial Partners.

"The Arizona Copper Belt is one of the most productive copper belts on the face of the planet," Robertson told the conference attendees in Frankfurt. "We're surrounded by world class deposits."

"One hundred kilometers to the east of our property, is Morenci which has a 75-billion-pound copper endowment," continued Robertson, "Forty kilometers to the north is Resolution which has 1.6 billion tons of 1.6% Copper. Morenci and Resolution are important to the thesis driving our exploration objectives at Hot Breccia."


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The global industrial shift towards renewable energy, electric vehicles, and the burgeoning AI sector has boosted copper's demand outlook.

"Copper is the most compelling trade I have ever seen in my 30-plus years of doing this," stated Carlyle chief strategy officer, Jeff Currie . The price of copper has risen 20% in 2024.  Currie expects it to reach $15,000 a ton in the next couple of years, about a 45% gain.

"S&P Global forecasts that copper demand will double, reaching 50 million metric tons by 2035," reports Euro News on May 15, 2024 . "The most significant demands are expected to emanate from the US, China, Europe, and India."

Prismo's Hot Breccia Copper Project in Arizona is designed meet future copper demand.

Disclaimer: Prismo Metals paid GSN CND $1,500 for the research, creation and dissemination of this content.

Contact: guy.bennett@globalstocksnews.com

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Prismo Metals Strengthens Management Team

Prismo Metals Strengthens Management Team

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (FSE: 7KU) ("Prismo" or the "Company") is pleased to announce the appointment of Steve Robertson as President of the Company. Mr. Robertson has been a technical advisor to Prismo since January 2023. Alain Lambert, currently the Executive Chairman of the Company will assume the role of CEO.

The board of Prismo believes that this is the right time to add to the management team with the anticipated increasing activity at the Company's exploration projects this year, in particular an upcoming drilling campaign at its Hot Breccia copper prospect located in Arizona.

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Prismo Metals Announces Frankfurt Stock Exchange Listing

Prismo Metals Announces Frankfurt Stock Exchange Listing

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (FSE: 7KU) ("Prismo" or the "Company"), is pleased to announce the listing of the Company's common shares on the Frankfurt Stock Exchange ("FSE") under the trading symbol "7KU". Prismo Metals shares are also cross listed on the Canadian Securities Exchange (CSE: PRIZ) and on the OTCQB in the United States (OTCQB: PMOMF).

The Frankfurt Stock Exchange is one of the world's largest international trading centers for securities. Operated by the Deutsche Boerse AG, the FSE is the largest of Germany's seven stock exchanges and is responsible for approximately 90% of all securities traded in Germany. The FSE facilitates advanced electronic trading, settlement and information systems and enables cross-border trading for international investors.

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Prismo Metals Announces Closing of Debt Settlement and Private Placement

Prismo Metals Announces Closing of Debt Settlement and Private Placement

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce that it has completed its previously announced debt settlement with certain creditors of the Company (the "Creditors"), pursuant to which the Company has issued to the Creditors an aggregate of 2,833,690 Common Shares at a price of $0.17 per Common Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of approximately $481,727 (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.

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Silver North Announces Closing of First Tranche of Private Placement

Silver North Announces Closing of First Tranche of Private Placement

(TheNewswire)

Silver North Resources Ltd.

Vancouver, BC, June 21, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that further to its news release dated June 5, 2024, it has closed the first tranche (the " First Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $562,500.

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Alma Gold Announces Private Placement

Alma Gold Announces Private Placement

Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 6,000,000 units ("Units") to be issued at a price of $0.05 per Unit for gross proceeds up to $300,000 (the "Private Placement"). Each Unit will be comprised of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.08 for a period of three (3) years from issuance.

Proceeds received from the Private Placement will be used for general working capital purposes and to settle certain debts of the Company.

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Galloper Gold Annual General and Special Meeting Results

Galloper Gold Annual General and Special Meeting Results

Galloper Gold Corp. (CSE:BOOM) ("Galloper Gold" or the "Company") announces the results of its annual general and special meeting of common shareholders held on June 18, 2024 in Vancouver. Resolutions passed at the meeting included the appointment of D&H Group LLP Chartered Accountants as auditors for the ensuing year, an ordinary resolution to approve the adoption of the Company's omnibus equity incentive plan and the granting of equity awards thereunder in an amount up to 20% of the total issued and outstanding shares, and the election of Mark Scott, Ravinder Mlait, Bryan Loree, and Peter Lauder as directors

On behalf of the Board of Directors

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Quimbaya Gold Inc. Advances Strategic Growth with Proposed Acquisition of New Mining Title in Segovia, Colombia

Quimbaya Gold Inc. Advances Strategic Growth with Proposed Acquisition of New Mining Title in Segovia, Colombia

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

Quimbaya Gold Inc. ("Quimbaya Gold" or the "Company") (CSE: QIM) (OTCQB: QIMGF) is pleased to announce the signing of a definitive agreement for the acquisition of an additional mining property with gold and silver exploration potential, encompassing approximately 252 hectares.  The new secured title is SE9-13331 (252.7 Ha), referred to as the "Concession Contract,", is continuous northeast of Aris Mining's Segovia operation which significantly expands Quimbaya Gold's foothold in the burgeoning mining landscape of Segovia, situated northeast of Medellín, the regional capital of the Department of Antioquia, Colombia .

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Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt

Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt

Sylla Gold Corp. (TSXV: SYG) ("Sylla" or the "Company") announces that it has amended the share purchase agreement (the "Agreement") with Namibia Critical Metals. ("NMI") to acquire four gold properties located in Namibia as announced on March 4, 2024. Under the agreement, Sylla is to acquire NMI's 95% interest in its Namibian subsidiaries that own the rights, title and interest to the Grootfontein, Erongo, Otjiwarongo, and Kaoko licences, (Figure 1) and certain associated assets.

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Freegold Announces Positive Metallurgical Results from Golden Summit

Freegold Announces Positive Metallurgical Results from Golden Summit

  • An average gold recovery of 77% from eight composites using conventional processing techniques – gravity and CIL (carbon-in-leach)
  • 97% using gravity + flotation.
  • A flowsheet of gravity-flotation-CIL on reground concentrate yields 72% gold recovery along with a high mass desulfurized tailings stream
  • Further optimization studies are underway.

 Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce positive results based on the initial metallurgical test work completed from the 2020 2022 drill program. The program's objectives were:

Freegold Ventures Limited (CNW Group/Freegold Ventures Limited)

  • Determination of gold recovery and gold deportment to products using standard and commercially employed mineral processing unit operations
  • Initial environmental assessment of process tailing stream(s)
  • Characterization of gold losses to focus ongoing metallurgical programs to optimize the flowsheet design.

Eight drill core composites representing various locations and grades within the Dolphin/Cleary areas were generated using continuous drill intervals selected to represent potential mill feed. ( See map below for hole locations. ) The drill hole and interval selections encompassed the three primary gold-hosting lithologies. Results demonstrate that a significant portion of the mineralization is non-refractory and amenable to conventional processing techniques. The composites were prepared using laboratory assay rejects of fresh rock intervals well below the existing oxide cap at Golden Summit. The eight drill hole composites used 1,192m of drill intercepts representing 587 continuous mineralized intervals with over 5,100kg of material.  Results from individual holes demonstrate recoveries up to 87.5%.  The average recovery from the eight composites was 77% using gravity and CIL. Recoveries increased to an average of 97.5% where gravity + flotation were utilized. Environmental characterization using standard ABA protocols gave a NP:AP ratio of 85:1 on the flotation tailings stream, which would classify them as non-acid generating.

Metallurgical Composite Hole Results

DDH no.

from m

to m

geochem

test calc grade

gold recovery %






grav/flot/regr CIL

grav/CIL

gravity

grav+flot




Au g/t

Au g/t














GS2201

441.1

648.3

1.44

1.06

88.2

87.1

45.0

99.2










GS2203

287.8

478

2.13

2.24

75.1

77.2

48.2

97.6










GS2206

383.1

586.1

1.17

1.02

80.2

87.5

42.7

97.3










GS2207

261.9

468.7

1.35

1.78

60.1

70.2

37.8

98.1










GS2208

266.3

367.2

1.33

1.48

48.1

53.3

25.3

97.5










GS2209

419

544.5

1.26

1.54

73.6

81.2

50.7

97.0










GS2168

352.7

479.5

0.75

0.83

63.7

73.2

31.1

94.3










GS2167

396.3

428

2.15

1.01

71.7

69.2

49.5

96.3










overall predicted grade

1.43















overall calc grade/recovery from test work


1.43

72

77

42

97

The drilling success at Golden Summit since 2020 has been truly remarkable. It has significantly increased the resource and enhanced the project's potential. These positive metallurgical results further solidify Golden Summit's potential. The current pit-constrained resource at Golden Summit hosts both an oxide and a primary resource. The oxide resource is contained within the top 70% metres. Previous column testwork on the oxide material demonstrated that heap leach gold recoveries of 85% can be achieved within two weeks.

Pit Constrained OXIDE Resource using $1,792 Gold

Cutoff Au g/t

Category

Tonnes

Au g/t

Au Ounces

0.15

Indicated

52,030,000

0.39

657,000

0.15

Inferred

18,187,000

0.47

272,000

(approximately top 70 metres)

Pit Constrained PRIMARY Resource using $1,792 Gold: ( February 2023 )

Cutoff Au g/t

Category

Tonnes

Au g/t

Au Ounces

0.45

Indicated

407,544,000

0.92

12,011,000

0.45

Inferred

282,303,000

0.85

7,736,000

Following the February 2023 resource update, Freegold conducted an additional 22,000 meters of drilling in 37 holes within the resource area. A significant increase in visible gold was observed in the drill core compared to previous programs, particularly in the western part of the resource.  An updated mineral resource report based on the 2023 drilling is expected later this month. The success of the 2023 drilling program has set the stage for an even more exciting 2024 program. The upcoming phase will focus on optimization, testing the 2km gold-in-soil geochemical anomaly to the west, drilling large diameter (PQ) holes to guide further and optimize metallurgical recoveries, and modelling before economic studies commence. Freegold has postponed the economic studies to investigate the potential for higher grades in the western extension and to conduct additional metallurgical test work, as both could significantly impact the project's economics. The primary areas of focus in the next phase of metallurgical test work are:

  • Comminution studies using half PQ core
  • Flotation concentrate oxidation pre-treatment prior to CIL

Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

https://freegoldventures.com/site/assets/files/6287/goldensummit_dolphin-cleary_resource_drilling_western_a.jpg

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited

Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

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