Prismo Metals (CSE PRIZ / WKN A2QEGD) announces a non-brokered financing and prepares for the commencement of drilling at the Silver King Project in Arizona. The company plans to issue 12.5 million units at $0.10 per unit to raise fresh capital. Concurrently, Prismo Metals reports on updated silver assays from the Ripsey Project, which support a mineralized vein over several hundred meters of strike.
Prismo Metals: Terms of the Private Placement
The financing announced by Prismo Metals provides for the issuance of units consisting of one common share and one-half of a warrant. Two half warrants entitle the holder to acquire an additional share at $0.175 within 36 months. The terms include an acceleration clause: If the shares close at $0.25 or above on the Canadian Securities Exchange (CSE) for ten consecutive trading days, the company may, by notice, shorten the warrant term to 30 calendar days following publication.
Silver King (Arizona): First Phase with at Least 1,000 Meters of Drilling
For Silver King, Prismo Metals already submitted a plan of operations to the US Forest Service in August 2025. Accordingly, the first drilling phase is planned to comprise at least 1,000 meters. According to the company, the initial program targets the upper half of a steeply dipping, pipe-like mineralized body. Additionally, zones adjacent to a dense stockwork, which was historically the focus of mining operations, are to be tested.
Based on the results, the team intends to prioritize follow-up drilling. Targets outside the historical mining area, including a polymetallic vein, are also being considered. Furthermore, based on indications of porphyry characteristics and two identified veins, Prismo Metals is evaluating the scope of an expanded follow-up program. The goal is to define the geometry, thickness, and continuity of the mineralization more precisely and to test potential extensions along structural corridors.
Ripsey Project: Overlimit Assays Confirm High Silver Grades
In addition to Silver King, Prismo Metals is focusing on the Ripsey Project. The company has presented revised overlimit assays for four samples, which accordingly show 132 to 224 g/t
The accompanying sample data show a polymetallic signature: From underground samples (“East tunnel”), in addition to high silver values, copper grades of up to approximately 4.85% as well as elevated lead and zinc grades are reported. Individual samples from shaft and stope areas (“Main shaft”, “Main stope”) also contain gold in the g/t range, including values in the double-digit range. The recorded thicknesses are predominantly between 0.5 and 1.5 meters, typical for vein mineralization. For further planning, the range of results provides indications for drilling along the strike and at depth.
Next Steps
With the private placement, Prismo Metals secures financing for the operational start in Arizona and supports the project pipeline with additional analyses. Short-term priorities include the implementation of the first drilling program at Silver King, comprising at least 1,000 meters, the evaluation of drilling results, and – depending on the outcomes – the initiation of an expanded campaign. At Ripsey, the updated silver values serve to refine target definition along the vein and potential parallel structures.
