Prismo Metals (CSE: PRIZ, FRA: 7KU, WKN: A2QEGD) has received approval from the responsible U.S. Forest Service to carry out its own drill program at the Silver King Mine in the state of Arizona—a key milestone for the company.
Approved drilling is scheduled to commence on the historic mine site from multiple pads starting at the end of February. Discovered in 1875, the Silver King Mine represents an attractive property for Prismo Metals, as it is located in Arizona’s prolific Copper Belt. In addition to Prismo Metals, the world’s major mining groups are also represented here with numerous projects of their own. For example, Resolution Copper—a joint venture between Rio Tinto and BHP—is located just 3.4 kilometers from the historic Silver King Mine.
The initial plan calls for nine diamond drill holes totaling approximately 1,000 meters. The program represents the first comprehensive investigation to be carried out again on the historic Silver King Mine site in some time. Prismo Metals will initially focus on testing the upper part of the steeply dipping, mineralized orebody. It contains west-dipping, pipe-like stockwork and breccia zones from which high-grade silver and base metals were mined in the past.
Historic silver grades of up to 61 ounces of silver per ton
At the start of historic production, which ultimately totaled around six million ounces of silver, ore was mined with average silver grades ranging from 61 to 21 ounces per ton. This enormous potential is by no means exhausted, as limited small-scale mining activities in the late 1990s yielded samples with exceptionally high silver and associated gold values. This indicates that high-grade mineralization may still be present today within the known system.
There is also the potential to explore additional high-priority targets identified by Prismo Metals’ most recent exploration work. It is also being assessed whether it makes sense and is possible to test further targets located on private land. However, this work is intended to be reserved for a second drilling phase, which is already being prepared behind the scenes.
Prismo Metals transitions from surface exploration to active drilling
For Prismo Metals, the start of its first drilling of its own at the Silver King Mine represents an important milestone, as it marks the transition from pure surface exploration to active testing of the ore system that has not yet been touched by historic mining.
The current plan is to begin work on the project on February 20, with initial efforts focused on preparatory work to improve access to the individual drill sites.
The new drilling program was well prepared in advance by the company. It is fully funded, and the permitting process with the U.S. Forest Service proceeded quickly and smoothly. The work will be carried out by Godbe Drilling, an experienced contractor within the industry.
Even the start of drilling should help draw increased attention to Prismo Metals and the Silver King project. If the planned drilling delivers the desired success over the course of the spring, this is also likely to be quickly reflected in the share price of Prismo Metals. Investors who are already invested therefore have every reason to eagerly anticipate the start of drilling and its initial results.
