Prismo Metals mobilizes crews for Palos Verdes drilling, Mexico
Prismo Metals Inc. [CSE-PRIZ; OTCQB-PMOMF; FSE-7KU] reported that a man-portable drill is mobilizing for an upcoming drill program at the Palos Verdes property located in the Panuco district in Sinaloa, Mexico.
Drilling is planned to begin the week of August 5. The drilling program is a collaborative effort between Prismo and Vizsla Silver Corp. [TSXV-VZLA] and will test targets on the Palos Verdes concession utilizing drill pads located on Vizsla’s concessions adjacent to Palos Verdes for greater drilling efficiency.
The drill program follows three main target recommendations made by Panuco Joint Technical Committee comprised of Prismo’s Chief Exploration Officer Dr. Craig Gibson, Vizsla Silver’s VP Exploration Dr. Jesus Velador and Advisor Dr. Peter Megaw. The program has three main goals: trace the down dip extension of the mineralized shoot defined by previous drilling on the southwest portion of the vein; seek continuation of the vein on the northeast extension of the vein across a cross-fault believed to have offset the vein downward and test the extreme northeasterly extension of the Palos Verdes vein system near the concession limit adjacent to the historical Jesusita mine.
“We are eager to resume tracing the high-grade mineralization we’ve cut previously in the Palos Verdes vein by taking advantage of better hole geometry created by drilling from our Strategic Partner Vizsla Silver’s ground,” said Dr. Craig Gibson, Chief Exploration Officer. “Drilling farther from the vein outcrops will let us drill Palos Verdes well below the limited depths we could reach from our claims. We deeply appreciate Vizsla’s willingness to allow the drilling from their ground.”
This is the company’s fourth drill campaign on Palos Verdes and is designed to test the vein up to one hundred meters below the high-grade mineralization cut by several previous holes. Assays reported from last year’s drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 metres, or 11,520 g/t silver equivalent – the highest-grade intercept recorded at the project to date.
Geologic modeling completed after that drilling shows that the Palos Verdes vein system is apparently comprised of at least three discrete structures: the main Palos Verdes vein with a steep southeast dip; a steeply southeast dipping hangingwall vein; and a relatively gold-rich flat lying vein that has high gold-silver ratios similar to those in the western part of the camp.
“We are very excited to continue drilling this vein system that has already returned outstanding results. Combined with our fully permitted Hot Breccia copper project in the heart of the Arizona copper belt, Prismo expects a very active second half of 2024 with multiple drill program results from these two world class exploration projects,” said CEO Alain Lambert.
The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 km NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 metres 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 (<100m) conducted in 2018 on the Palos Verdes Vein was targeted 30 to 50 meters beneath largely barren vein outcrops and cut a well mineralized multistage vein two to seven metres wide with narrow intervals of high-grade precious metal values and subordinate base metals. This mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.