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Prismo Metals CEO Craig Gibson: A Potentially Major Orebody at Palos Verdes
“We are just starting to drill underneath what we think is the tip of the iceberg of a potentially major orebody,” said Prismo Metals CEO Craig Gibson.
Prismo Metals CEO Craig Gibson: A Potentially Major Ore Body at Palos Verdesyoutu.be
Prismo Metals (CSE:PRIZ) commenced a 2,000 meter drill program at its Palos Verdes project located in Sinaloa, Mexico. CEO Craig Gibson believes that the entire ore system has been preserved and a larger body is underneath.
“Palos Verde is one of our two projects. It's a relatively small project and a little bit more advanced. We have drilled 10 holes there for about 1,000 meters. The exciting thing is we have pretty good drill results, high-grade silver and gold,” said Gibson.
The Palos Verdes concession is adjacent to one of the major silver discoveries of the last few years. Gibson said, “We just started our third drill program of what we think is the tip of the iceberg of a potentially major orebody.”
“We just commenced the Phase 3 program scheduled for about 2,000 meters. We drilled holes that were just over around 100 meters in length, intersecting the vein, maybe 75 meters below the surface. Now we're stepping back and drilling underneath those intercepts that we had before to 300 meters deeper, where we think the main ore or mineralization would be.”
The 2,000 meter drill program will be funded through the exercise of up to 6,821,250 outstanding founder warrants for gross proceeds of $682,125. The warrants were issued to warrant holders in 2018 and 2019, and they entitle the holder to purchase one common share of Prismo Metals at a price of $0.10.
“We have the finances to do the drill program we have planned. We recently did a financing through exercise of warrants to help finance the company and do this drill program. Right now, we're in pretty good shape.”
Prismo Metals also recently received data from a LiDAR survey carried out at its Los Pavitos project in the Mexican state of Sonora. The data identified several areas with small prospect pits that have not yet been visited or sampled.
Watch the full interview of Prismo Metals CEO Craig Gibson above.
Disclaimer: This interview is sponsored by Prismo Metals (CSE:PRIZ, OTCQB: PMOMF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Prismo Metals in order to help investors learn more about the company. Prismo Metals is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.