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!

Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish comments, analyses and news on http://www.goldinvest.de. This content is intended solely for the information of readers and does not represent any kind of call to action; neither explicitly nor implicitly are they to be understood as a guarantee of any price developments. Furthermore, it is in no way a substitute for individual expert investment advice and does not constitute an offer to sell the share(s) in question or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising/journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information relates only to the company and not to the reader’s investment decision.

The acquisition of securities involves high risks that can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, but any liability for financial losses or the guarantee that the content of the articles offered here is up-to-date, correct, appropriate and complete is expressly excluded. Please also note our terms of use.

According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Prismo Metals and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, there is a contractual relationship between Prismo Metals and GOLDINVEST Consulting GmbH, which involves GOLDINVEST Consulting GmbH reporting on Prismo Metals. This is another clear conflict of interest.

Latest News

Latest Videos