Business
Prismo Metals Announces Palos Verdes Drilling Results and Corporate Update
Additional Drilling Planned at Palos Verdes in January 2023 Vancouver, British Columbia--(Newsfile Corp. - December 1, 2022) - Prismo Metals Inc. (CSE: PRIZ) (O
About this update from Prismo Metals Inc.
[{"type":"text","content":" Additional Drilling Planned at Palos Verdes in January 2023 Vancouver, British Columbia--(Newsfile Corp. - December 1, 2022) - Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (the \"Company\" or \"Prismo\") is pleased to announce assay results for the first five holes in the recent drilling program at its Palos Verdes project, located in the historic Panuco-Copala district of the state of Sinaloa, Mexico. Assays for the last three holes of the 2022 drilling campaign are expected by the end of December. The first drill hole of the season, PV-22-11, cut 0.7 meters downhole length with 553g/t AgEq or 4.18 g/t gold and 207 g/t silver. All five holes reported here cut significant mineralization, and in general intercepts were relatively gold and base-metal rich (Table 1). The Company has completed the current drill program with almost 2,100 meters drilled in eight holes as shown in Table 2. Several holes cut wide zones of mineralization, including nine meters downhole in hole PV-22-15 that averaged 187 g/t AgEq or 1.02 g/t Au with 1.1 % Pb and 1.4 % Zn. These intercepts shown in table 3 range from 50 to 150 meters below previous shallow drilling that had several high-grade intercepts. Table 3 shows the intercepts from the historic drilling with silver equivalent values shown for comparison purposes, with the best being 3,175 g/t AgEq over a true width estimated at 0.8 meters within a larger mineralized interval with 795 g/t AgEq over a true width of 5.5 meters (see Prismo's news releases dated September 30 and December 20, 2020). \"The drill program was successful in extending the mineralization to depth below the shallow drill holes completed previously and provided important information on the distribution of metal values,\" stated Craig Gibson, President and CEO of the Company. \"Under the current environmental permit, we had access to limited drill sites, which leaves ample room to significantly extend the higher-grade zones in the mineralized ore shoot along strike.\" Dr. Gibson emphasized that \"Approximately 70% of the strike length of the Palos Verdes vein remains untested, including the central portion of the southwestern segment of the vein, and all of the northeastern extension. In April of this year, we applied for an expanded environmental permit which we anticipate obtaining before our next phase of drilling p...