Prismo Metals (CSE: PRIZ; OTCQB: PMOMF) just announced preliminary results from the first samples collected at the Silver King Project (Arizona). The data confirms several types of mineralization already mapped in the field and supports the recently described target concepts. Exciting: Several assay results were so high that they exceeded detection limits!
Prismo has already commissioned the laboratory to conduct follow-up tests using alternative methods, so that the results for silver, copper, lead, and zinc from these “too high-grade” samples are expected in about two weeks. At the same time, additional samples—including material from the Ripsey Mine—are still in the laboratory.
New Discoveries Expand Target Area beyond Known Areas
Prismo also announced that two previously undescribed veins have recently been discovered in the vicinity of the historic “Glory Hole” – a polymetallic structure with silver, lead, and zinc mineralization and a copper-silver vein. (We reported) Sample 544510, among others, from the polymetallic vein yielded >200 g/t silver (Ag) and >1.0% each for copper (Cu), lead (Pb), and zinc (Zn); The “copper vein” yielded, among other things, 183–198 g/t Ag at 0.29–0.31% Cu (samples 544553/544554). Important: These new discoveries extend the target area beyond the historical operating areas.
In addition to the veins, stratigraphically controlled replacement mineralization along a carbonate horizon—near the contact with a quartz diorite intrusion and quartzite—repeatedly shows copper values of more than 1.0% and generally elevated gold grades. Visible oxides (including malachite) occur in several old small-scale mining areas. The mineralization follows the same structural-stratigraphic trend as the Magma Mine 0.6 to 1.5 km to the southwest. Need an example? Sample 544507 returned 2.26 g/t Au, 25 g/t Ag, and >1.0% Cu, and 544508 returned 0.73 g/t Au, 12 g/t Ag, and >1.0% Cu.
Prismo Metals Underscores Silver Potential of the System
Stope materials sampled immediately adjacent to the Silver King adit also underscore the silver strength of the system: 544514 returned >200 g/t Ag, 0.59% Cu, 0.44% Pb, 0.63% Zn at 1.07 g/t Au; 544517 also achieved >200 g/t Ag at 0.09% Cu, 0.26% Pb, and 0.43% Zn.
Prismo Metals plans to drill at least 1,000 meters at Silver King initially. Approval from the Forest Service is expected by the end of October. Phase 1 will test the upper half of the steeply dipping, pipe-like Silver King body and possible mineralization adjacent to the dense stockwork. Follow-up drilling will build on the results and include separate targets outside the historic mine, including the new polymetallic vein. The discovery of the two veins and indications of porphyry-style mineralization are prompting the company to evaluate a more extensive program, already.
Project Context
Discovered in 1875, Silver King is one of Arizona’s significant historical producers with nearly 6 million ounces of silver at grades up to 61 oz/t. The property is located only 3 km from the main shaft of the Resolution Copper Project (a joint venture between Rio Tinto and BHP), one of the world’s largest undeveloped copper deposits. Silver King is completely surrounded by the Resolution Copper claim block. Selected samples from small-scale production in the late 1990s returned grades of up to 644 oz/t Ag (18,250 g/t) and 0.53 oz/t Au (15 g/t).
Conclusion: Although confirmation by a drilling program is still pending, the results now reported from the first samples taken by Prismo Metals at Silver King are already more than promising in our opinion. We are particularly excited about the results of the samples that went beyond the scope of the usual testing methods. We will keep you posted!
