Prismo Metals' Los Pavitos Gold Footprint Grows 2.5 km to the Northeast and Silver Footprint Also Grows 1 km

Prismo Metals' Los Pavitos Gold Footprint Grows 2.5 km to the Northeast and Silver Footprint Also Grows 1 km

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce results from its ongoing exploration program at Los Pavitos, a 100% owned 5,300 ha Project in the well-mineralized Alamos region of southern Sonora State, Mexico. Exploration work reported here includes drilling of 4 new zones in an area of 1.5 by 3 km. Combined with earlier reported work (See Press Releases of October 17th and December 5th, 2023), positive results have been obtained from Las Auras, Santa Cruz, Santa Cruz Southeast, La Espanola and Oromuri structures in the northern half of the property (Fig. 1). The southern half of the property will be explored in 2024 with pioneering drilling throughout the property.

The 2023 exploration program included geologic mapping, sampling and drilling designed to determine the overall mineralization style(s) and geometry of structures in the northern half of the project. This included the first ever drilling at Pavitos. Prismo drilled 2,370 meters of HQ core in 25 relatively shallow (max 171 m) holes into 7 mineralized structures up to 1.5 km long.

The final eight holes of the 2023 program are reported here. These tested four widely-spaced structures distant from areas of previously reported strong gold drill results and areas of historical artisanal mining (See Press Releases of October 17th and December 5th, 2023). The best results (2.6 g/t Gold over 0.5m and 1.18 g/t Gold over 0.5m ) come from shallow (

Additionally, a new zone with several structures was identified and sampled in the previously unexplored northeastern portion of the project area (See Table 2). Surface sampling along the northeastern projection of the gold and silver-rich Santa Cruz structure (See Press Releases of October 17th and December 5th, 2023) yielded the highest silver assay from the project to date: 1,130 g/t Ag, with 1.33 g/t Au over 0.15 meter. Other results from this new work area include numerous samples reporting anomalous gold and the pathfinder elements arsenic and bismuth (As and Bi) (Table 1). None of these structures have yet been drilled and remain priority drilling targets.

"With only 25 holes drilled into 9 structures and less than half the property sampled systematically, it's pretty exciting when the first-ever drilling in new, previously untested outlying structures reports appreciable gold. We are obviously looking forward to continued drilling on them," commented Dr. Craig Gibson, President and CEO. "Finding kilo-plus silver in the undrilled extension of a structural zone where we've previously drilled good gold and silver grades significantly adds to that excitement and reinforces our geologic concept that Pavitos saw multiple mineralizing events."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/198513_prismoimage1_550.jpg

Figure 1. Los Pavitos project map with new drilling, sampling and geology on Lidar base.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7434/198513_prismoimage1.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/198513_prismoimage2_550.jpg

Figure 2. Drill hole map for the Los Pavitos Project. Blue circles are drill holes that have been completed, yellow highlights indicate new holes reported in this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7434/198513_prismoimage2.jpg

Table 1. Selected drill intercepts from the Los Pavitos project

HoleFrom (m)To (m)Interval (m)Au
g/t
Ag
g/t
Pb %Zn %
Santa Cruz West
LP-SC-23-15No significant values
LP-SC-23-16No significant values
Las Auras
LP-AU-23-0436.6137.110.502.619.70.090.07
52.7553.050.301.4720.10.011.47
LP-AU-23-05111.90112.450.550.708.80.010.70
LP-AU-23-06No significant values
LP-AU-23-07No significant values
Oromuri
LP-OR-23-01108.48109.000.521.180.80.000.00
Española
LP-ES-23-01No significant values

Au by fire assay for all holes except LP-SC-23-16 & LP-Au-23-04, by ICP. True widths unknown at this time.

2023 Pavitos Mapping and Sampling Program

To date less than half of the property has been systematically mapped and sampled, but already 5 structures traced over 0.5 to 1.5 km each have been identified along with several smaller structures, and have been shallowly drilled with positive results. There are now approximately 1,500 outcrop chip samples and 25 trenches totalling 698 meters in length have been dug with about 350 samples.

Reconnaissance work outside the area that has been systematically explored has identified several areas with anomalous gold values and appreciable pathfinder elements values or with the presence of metals associated with the mineralization at the project, areas where exploration will be continued. The exploration program has been successful with overall results that fit the mineralization model, but detailed mapping and sampling have shown that there are additional key features than at first appeared, providing expanded potential for discovery.

"The results of this first ever drill program at Los Pavitos indicate that we may be able to refine additional exploration targets through a drone based magnetic survey supported by ground-based geophysics and more detailed surface mapping," concluded Dr. Gibson.

Table 2. Drill hole data for the holes in this release

HoleTargetEastingNorthingElevAzimInclDepth (m)
LPSC-23-15Santa Cruz West676,7003,001,736232 130-50132.00
LPSC-23-16Santa Cruz West676,7323,001,777226130-4596.00
LPAU-23-04Las Auras674,7123,003,803190210-47144.00
LPAU-23-05Las Auras E674,7793,003,830180210-45171.00
LPAU-23-06Las Auras E675,3393,003,664190200-4557.80
LPAU-23-07Las Auras674,8843,003,271175185-4552.50
LPOR-23-01Oromuri674,4203,002,616196314-45162.00
LPES-23-01La Española675,3903,002,811202290-47102.00

Coordinates in UTM WGS84 using handheld Garmin GPS.

Table 3. Highlight rock chip assays from Los Pavitos

SampleTypeStyleWidth (m)EastingNorthingAu_g/tAg g/tAs_ppmBi_ppm
Southeast Santa Cruz zone






543654ChipOxidation0.1567776230023581.331,130>10.0000.6
543653ChipOxidation0.167810830024540.1877.11,8150.2
Eastern zone






543669ChipOxidation0.5678,4983,001,7030.160.43621.7
543668ChipOxidation1.0678,4993,001,6982.142.2>10,00017.4
543642ChipBreccia1.0678,5663,001,8410.826.1>10,0007.8
543643ChipBreccia1.0678,5783,001,8560.115.6>10,0001.9
543644ChipBreccia1.0678,6483,001,9000.243.43,7301.1
543646ChipOxidation0.4678,7503,001,9450.254.43,9502.0
543664ChipVeinlets1.0679,0963,001,9340.557.96924.7
543663ChipVeinlets1.0679,0963,001,9350.495.13444.6
543662ChipVeinlets0.45679,0973,001,9350.343.78851.9
543659ChipVeinlets1.5679,1003,001,9411.822.75,1302.0
543661ChipVeinlets1.5679,1003,001,9390.603.57292.6
543671ChipOxidation0.3679,1543,001,9680.129.02,2206.4
543672ChipOxidation1.0679,1553,002,0830.030.1440.9
543727ChipVein0.4679,1563,001,9492.662.6>10,0001.7
543673ChipOxidation1.0679,3113,002,1750.680.417.21.1
543687ChipVein1.0679,3533,002,3650.1616.24166.0
543686ChipVein1.0679,3553,002,3650.3421.97142.7
543688ChipVein1.0679,3563,002,3670.6422.767326.3
543681ChipStockwork0.5679,5443,001,8970.603.19231.3
543716ChipStockwork0.5679,5473,001,8990.504.89530.9

About Los Pavitos

The Los Pavitos project is a 5,289-hectare property located in southern Sonora State, Mexico (Figure 4). Pavitos 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 geologist and Prismo Metals Board Member Rafael Gallardo, is believed to have potential for both the typical epithermal veins of the Alamos district and "orogenic" or shear-hosted gold hosted in the highly metamorphosed basement rocks that crop out sparingly below the region's extensive blanket of mid-Tertiary volcanic rocks. Los Pavitos lies along the projection of the Caborca Orogenic Gold Belt (Fig. 4) and the fabric and style of metamorphic deformation of the basement rocks is similar to that elsewhere in the belt.

Pavitos 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 been received for 1,384 surface rock samples taken by the company (excluding control samples); a further 347 samples were taken in 25 trenches cut across the main mineralized trends.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7434/198513_prismoimage3_550.jpg

Figure 3. 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/7434/198513_prismoimage3.jpg

QA/QC

Rock samples taken by Prismo are analyzed by multielement ICP-AES and MS methods and by fire assay by ALS Group and Bureau Veritas, both internationally recognized analytical service providers. Gold is analyzed as part of an ICP package using a 15 or 25-gram aqua regia digestion and is also analyzed by Fire Assay with an AA finish. Au overlimits >10 g/t are analyzed by fire assay with a gravimetric finish. Ag over 100g/t and Cu, Pb and Zn over 1% re-analyzed by the by overrange ICP methods. 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 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.sedarplus.ca 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/198513

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 INN Interview Highlights Prismo Metals' Exploration in Palos Verdes , Los Pavitos , and Hot Breccia  Projects

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(TheNewswire)

Prismo Metals Inc.

Investing News Network( INN)

During the Prospectors & Developers Association of Canada (PDAC) convention, the Investing News Network (INN), a premier source for resource and mining news and investor education, filmed interviews with experts and CEOs of leading companies. In a recent CEO Interview published on InvestingNews.com, Mari-Len DeGuzman interviewed Alain Lambert, the Executive Chairman of Prismo Metals (CSE:PRIZ) at PDAC. Lambert discussed updates and strategic plans for the company's silver, copper, and gold projects, including the latest on their collaboration with Vizsla Silver and forthcoming exploration efforts.

Strategic Collaboration and Exploration at Palos Verdes

Lambert reminded viewers that Palos Verdes, a silver prospect in Mexico, stands as one of Prismo Metals' flagship properties. Surrounded by Vizsla Silver Corp. (TSXV:VZLA) territory, which encompasses the remainder of the district, Prismo benefits from a strategic relationship with Vizsla. Following a recent $34 million bought deal closure by Vizsla, Lambert highlighted their ongoing collaboration, which includes a technical committee aimed at exploring the district's northeast.

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Los Pavitos and Hot Breccia: Expanding Exploration Horizons

In addition to Palos Verdes, Prismo Metals is making waves with their Los Pavitos gold prospect, spanning over 5,300 hectares in the Sonora State, Mexico. The first drilling campaign in 2023 yielded exceptional results, extending the prospective zone significantly. Plans for geophysics and further drilling later this year are in place to capitalize on these findings.

Moreover, Lambert shed light on the Hot Breccia copper project in Arizona, poised to capture investors' attention. Awaiting drilling permits, Prismo anticipates initiating exploration on this property, situated in the heart of Arizona's copper belt. With historical data backing its potential, the focus will soon shift to twinning old holes, exploring the vast copper resources.

Investment Appeal and Future Focus

Addressing investors at PDAC, Lambert confidently positioned Prismo Metals as a compelling investment opportunity, drawing parallels with recent successes in the space, such as Hercules Silver Corp. (TSXV:BIG). With high expectations for the Hot Breccia project and continued exploration at Palos Verdes and Los Pavitos, Prismo Metals is dedicating substantial resources to uncover the next significant discovery.

As Prismo Metals gears up for a year filled with promising exploration activities and strategic collaborations, Lambert's message to investors is clear: keep a close eye on Prismo Metals. With a strong exploration strategy and potential for significant discoveries, Prismo Metals represents an intriguing opportunity in the mining sector.

For more insights on Primso Metals check INN's exclusive profile of the company:

https://investingnews.com/stocks/cse-priz/prismo-metals/

For complete coverage of The Prospectors & Developers Association of Canada (PDAC) 2024 visit: https://investingnews.com/pdac/

About the Investing News Network:

The Investing News Network (INN) is a leading source of independent news and educational content for investors. Since 2007, INN has been providing breaking news, analysis and expert commentary on the latest developments in the resources and mining, tech, and life science sectors. With a global network of reporters and analysts, INN is committed to providing accurate, timely and actionable information to investors.

For more information, please visit the Investing News Network website at InvestingNews.com .

Contact:

Chris Smith

CSO

Investing News Network

+1 (604) 688-8231

csmith@investingnews.com

Copyright (c) 2024 TheNewswire - All rights reserved.

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Freegold Ventures Limited (CNW Group/Freegold Ventures Limited)

The drilling conducted in 2023 successfully demonstrated the potential for immediate expansion towards the west, with potentially higher grades. It is important to note that the Golden Summit already has a significant gold resource. However, the potential for higher grades at shallower depths to the immediate west is substantial and could significantly alter the overall project economics. Therefore, we are confident that targeting shallower, higher-grade mineralization before undertaking economic studies will unlock even greater value in this project. Drilling is expected to commence shortly.

Hole GS2337 was drilled at an azimuth of 315 o to cross the Tolovana Vein swarm extensions to the southwest. The hole successfully intersected various zones of higher-grade mineralization.

HOLE
NUMBER

AZIMUTH

Dip

DEPTH

(M)

FROM

(M)

TO

(M)

INTERVAL
(M)

AU

G/T

GS2336

360

-55

831.3

15.9

31.1

15.2

0.52





166.1

218.5

52.4

0.59





257.7

677.3

419.6

0.86

including




308.2

327.7

19.5

4.26

including




308.2

311.2

3

25.3

including




483.1

504.7

21.6

1.09

including




521.8

558.4

36.6

2.86

including




521.8

524.9

3.1

28.8

including




655.9

677.3

21.4

0.75





708.7

726

17.3

0.86





758.2

772.4

14.2

1.43

GS2337

315

-50

784.3

260

704

444

0.85

including




341

354.7

13.7

1.21

including




367.8

443

75.2

1.31

including




367.8

369

1.2

20.2

including




506

517

11

2.27

including




552.1

575

22.9

0.94

including




668

704

36

2.01

including




668

671

3

13.45

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization

The Tolovana vein swam lies within the three clear and immediate extensional geochemical trends identified: two south-southwest flanking trends and a clear east-west trend. The 2024 drill program will focus on exploring these identified trends.

2023 Drilling Demonstrated:

  • The potential to further expand the resource along strike to the west within a 1.5-kilometre-long gold-in-soil geochemical anomaly with the potential to increase the overall resource grade at shallower depths;
  • Defined boundaries of the existing resource and;
  • Demonstrated the potential for the Saddle Zone to host additional gold and silver mineralization.

Metallurgical work remains ongoing, and further metallurgical test work will be completed during the 2024 program to enhance the Golden Summit Project's overall economics.

A plan map showing the locations of the reported holes and the Section for GS2337 can be found here:

https://freegoldventures.com/site/assets/files/6287/gs2337-section.pdf

https://freegoldventures.com/site/assets/files/6287/gs-plan-04172024.pdf

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

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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