Possibility of a second "blind" vein occurring
After Prismo Metals (WKN A2QEGD / CSE PRIZ) recently completed a financing of around CAD 1.15 million, the Canadian explorer is now starting to turn some of these funds into drill holes as planned. As CEO Alain Lambert recently announced in a corporate update, the company is now ready to mobilize equipment for a drill program at the Palos Verdes silver project in Sinaloa, Mexico!
According to Prismo, the – extended – campaign will comprise ten drill holes with a total length of 3,600 meters. The drilling program is planned to be carried out in two phases. It is interesting to note that the new holes will be drilled from the Vizsla Silver’s (TSXV VZLA) property, which is adjacent to Palos Verdes. The aim is to intersect the Palos Verdes vein at depth. (Incidentally, Vizsla holds around 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 drill program. According to the company, the results indicate the potential for the mineralized vein that Prismo had previously delineated with drilling on the western part of the property to have been truncated and down-dropped along a cross-fault. There is also the possibility of a second “blind” vein occurring northeast of the Palos Verdes vein, according to Prismo!
Which would be particularly exciting, as Dr. Peter Megaw, who is advising Prismo on the exploration, explains: “Finding blind veins is perhaps even more exciting as that mirrors several of the discoveries Vizsla Silver, our Joint Exploration Committee partners have made in the western part of the district.”
Success in 2023, already
Prismo Metals had completed a third drilling program in 2023 at Palos Verdes. This consisted of 15 holes totalling 2,923 metres – and encountered high-grade mineralization in several holes! Among others, drill hole PV-23-25 returned a strong 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters. This adds up to 11,520 g/t silver equivalent!
In any case, we are excited and hope that the drilling can take place very soon as planned. With the price of silver still above USD 29 per ounce and the price of gold above the mark of USD 2,300 per ounce, we believe that positive drill results, similar to those from last year for example, should be positively received by the market. We will definitely stay on the ball!
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