Prismo Develops Additional Drill Targets at Silver King Provides Update on Drill Permit
Executive Summary
- Prismo Metals completed a detailed exploration program at the Black Diamond area of its Silver King Project, identifying significant copper‑gold replacement mineralization and a newly discovered felsic intrusion with polymetallic stockwork veining.
- The U.S. Forest Service has approved the company’s drill plan, allowing environmental review to proceed under a Categorical Exclusion (NEPA).
- Following an oversubscribed financing round, Prismo is fully funded for two phases of drilling totaling ~2,000 m – Phase 1 targeting historic Silver King mineralized body and Phase 2 focusing on new Black Diamond and polymetallic vein targets.
Key Details
- Exploration Program:
- Mapping, soil‑geochemistry grid (handheld XRF), and rock chip sampling conducted over the Black Diamond replacement body and adjacent felsic intrusion.
- Soil survey revealed a large copper anomaly with associated gold values; Zn, Pb, Ag, Sb anomalies linked to the intrusion.
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34 rock chip samples collected; laboratory assay results pending.
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XRF Findings (qualitative):
- Quartz veinlets in the stockwork host detectable silver, lead, zinc, and antimony.
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Rock‑chip XRF confirms presence of target metals, guiding drill targeting despite not being assay‑grade.
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Drill Permit Update:
- Forest Service determined proposed drill plan meets regulatory requirements (36 CFR 228.4(c)).
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Environmental analysis to proceed as a Categorical Exclusion under NEPA (36 CFR 228(a)(5)).
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Funding & Drill Plan:
- Recent oversubscribed financing fully funds Phase 1 (≈1,000 m) at historic Silver King mine site and Phase 2 (additional ≈1,000 m) on newly identified targets.
- Phase 1 will test the upper half of the steeply dipping pipelike mineralized body and adjacent stockwork zones.
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Phase 2 will drill the Black Diamond replacement body, polymetallic vein, and copper vein outside historic mining area; all locations are road‑accessible on private land.
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Quotes:
- Craig Gibson (Chief Exploration Officer): “These results confirm Black Diamond as a copper‑gold replacement body target…the data collected from the felsic intrusion indicated that it is mineralized, a feature not previously reported.”
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Alain Lambert (CEO): “We are pleased with the steady progress on the permitting front…With the closing of our recent oversubscribed financing, we are fully funded for the first two phases of drilling.”
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Qualified Person: Dr. Craig Gibson, PhD., CPG., qualified under NI 43‑101, reviewed and approved all technical disclosures.
Notable Quotes
- “These results confirm Black Diamond as a copper‑gold replacement body target…making this area a compelling drill target.” – Craig Gibson
- “We are fully funded for the first two phases of drilling.” – Alain Lambert