Vancouver, British Columbia, June 28th, 2023 – Prismo Metals Inc. (CSE: PRIZ, OTCQB: PMOMF) (“Prismo” or the “Company”) is pleased to report assays results from its trenching program at its Los Pavitos gold exploration project (see Table 1). Results show wide zones of mineralization, with the best being 4 meters with 10.3 g/t Au and 104 g/t Ag within a 19-meter-long mineralized interval at Las Auras and 7.8 meters with 2.31 g/t Au and 13 g/t Ag at Santa Cruz. The 5,289-hectare (20 square miles) Los Pavitos project is located in the well mineralized Alamos region of southern Sonora State, Mexico
Dr. Craig Gibson, President and CEO commented: “Recent assays from trenches have confirmed that the narrow high grade quartz veins defined in surface sampling at Los Pavitos are hosted by wider mineralized structures. This is important because wider zones of gold mineralization near surface could be important for future development of the property. We are looking forward to exploring these mineralized zones by drilling, planned to commence shortly.”
Table 1. Highlight assays from Los Pavitos trenches
The trenching program across the main mineralized trends on the Los Pavitos property is well underway. Assay results have now been received for 146 samples from a combined length of 309.3 meters in eleven trenches in the Santa Cruz and Las Auras areas. The best assays for individual samples are 20.4 g/t Au and 207 g/t Ag over 2 meters at Las Auras and 16.7 g/t Au and 48,2 g/t Ag over 1 meter at Santa Cruz. The main objective of the trenching program is to define the orientation and full width of the mineralized structures prior to starting the drill campaign. An additional 157 samples for 298.2 meters have been taken from 10 trenches and will be submitted to the lab this week. Approximately 250 meters of trenching remains to be completed.
Table 2. Sampled trenches at Los Pavitos
Figure 1. Trench locations at Los Pavitos.
Photos of ongoing trenching program at
Los Pavitos
Palos Verdes Exploration Update
Prismo is currently drilling at its Palos Verdes project. The drill program is designed to test the areas of the Palos Verdes vein system in areas where there previously was no drill access, mainly along the northeastern extension of the vein system and certain areas in the southwestern portion where previous drilling occurred. Six holes have been completed for a total of 928 meters of HQ core drilled for the current program, with an additional hole in progress. Samples from the first six holes have been submitted to the lab for analysis.
Photos of core from hole PV-23-24 showing multistage vein mineralization with locally abundant sulfide minerals. This hole was drilled in the center of the vein system under holes 2 and 6.
At left, vein intercept from 123.5-126m.
At right, vein intercept from 150-156m.
QA/QC
Rock samples taken by Prismo were analyzed by multielement ICP-AES and MS methods by ALS Group, an internationally recognized analytical service provider. Gold is analyzed as part of the ICP package using a 25-gram aqua regia digestion. Ag, Pb, and Zn over 1% and Au values over 1 g/t are re-analyzed by an over range ICP method. 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 director of the Company, has reviewed and approved the technical disclosures in this news release.
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.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.
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