Chance of Discovering Blind Veins!
After Prismo Metals (WKN A2QEGD / CSE PRIZ) recently completed a financing of approximately 1.15 million CAD gross, the Canadian explorer is now converting part of these funds into drill holes as planned. As CEO Alain Lambert recently announced in a company update, they are ready to mobilize equipment for a drilling program on the Palos Verdes silver project in Sinaloa, Mexico!
According to Prismo, the – expanded – campaign will include ten drill holes with a total length of 3,600 meters. The plan is to conduct the drilling program in two phases. Interestingly, the new drill holes will be sunk from the property of Vizsla Silver (TSXV VZLA), which borders Palos Verdes. The aim is to intersect the Palos Verdes vein at depth. (Incidentally, Vizsla holds about 9% of Prismo and therefore has a vested interest in the company’s success…)
Positive Alteration and Geochemistry Results as a Starting Point
Prismo Metals is building on the positive results of an alteration study and geochemical sampling conducted in 2023 with the planned drilling program. According to the company, the results indicate the potential that the mineralized vein, which Prismo had previously delineated with drilling on the western part of the property, was cut off along a cross-fault and displaced downwards. Prismo also states that there is a possibility of a second, ‘blind’ ore vein occurring northeast of the Palos Verdes vein!
What would be particularly exciting, as Dr. Peter Megaw, who advises Prismo on exploration, explains: ‘The discovery of blind veins is perhaps even more exciting, as they reflect several of the discoveries that Vizsla Silver, our partner in the Joint Exploration Committee, has made in the western part of the district.’
Success Already in 2023
Prismo Metals completed a third drilling program in 2023. This consisted of 15 drill holes with a total length of 2,923 meters – and encountered high-grade mineralization in several holes! Among others, drill hole PV-23-25 yielded strong 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters. In summary, that’s 11,520 g/t silver equivalent!
In any case, we are excited and hope that the drilling could take place very soon as planned. With a silver price still above $29 per ounce and a gold price beyond the $2,300 per ounce mark, positive drilling results, similar to those from last year for example, should in our view be positively received by the market. We will definitely keep you updated!
