Prismo identifies mineralization at Silver King

Executive Summary

• Prismo Metals Inc. has identified porphyry-style mineralization at its Silver King project in Arizona, specifically noting a strongly altered intrusion with stockwork quartz-pyrite veining in the eastern portion of the claim block.
• The company is advancing its exploration program, which includes geochemical surveys and geological mapping, with a new drill program currently in the permitting stage and anticipated to begin shortly.
• The Silver King project is strategically located near the world-class Resolution copper deposit (Rio Tinto/BHP) and the historic Magma mine, with surface exposures of mineralization that are not covered by the volcanic rocks obscuring the Resolution deposit.

Key Details

• Porphyry Identification: Geologists identified a felsic intrusion (previously described as a breccia pipe) characterized by very strong stockwork quartz-pyrite veining in a quartz-sericite altered host rock.
• Geochemical Evidence: Soil samples analyzed with X-ray fluorescence (XRF) show anomalous metal values at the felsic intrusion target. Historical reports indicate high-salinity fluid inclusions typical of a porphyry system.
• Historic Context & Proximity:
  • Silver King is located 3 km from the Resolution copper deposit and 0.6–1.5 km from the historic Magma mine.
  • The Magma mine produced ~27.6 million short tons of ore averaging 4.9% Cu, with 689,000 oz Au and 34.3 million oz Ag.
  • Resolution copper project holds an estimated resource of 1,787 million metric tonnes at 1.5% Cu.
• Surface Mineralization:
  • Mineralization is hosted by the same rock sequence as Magma and Resolution but is exposed at surface.
  • Historic workings show abundant oxide copper minerals (malachite) along a northeast-dipping limestone horizon.
  • The Black Diamond mine (eastern claim block) features large outcrops of specular hematite and malachite replacing limestone.
• Recent Exploration Activities:
  • Reconnaissance survey of geology and mineral occurrences.
  • Geochemical and alteration mineral survey around Silver King and a second target to the east.
  • Hand-held XRF showed discrete anomalies for copper, silver, and antimony around the historic glory hole.
  • 29 samples submitted to the lab; an additional 15 samples from the Ripsey mine.
• New Vein Discoveries:
  • Two previously undescribed veins identified near the historic glory hole: one with abundant silver, lead, and zinc; the other with copper and silver values.
• Drilling Status: The initial exploration phase is generating a better understanding of potential, qualifying the company's coming drill program, which is in the permitting stage.
• Ripsey Mine Sampling: Limited sampling by Dr. Craig Gibson yielded:
  • 15.9 g/t Au and 275 g/t Ag over 0.75 m.
  • 8.7 g/t Au, 181 g/t Ag, 3% Cu, and 9% Zn over 1 m.

Notable Quotes

• "This region is world-class for porphyry systems and base and precious metals, and we believe there is significant untapped potential. Our recent fieldwork at the Silver King mine was successful in identifying several exploration targets apart from the historic silver mine deposit, including polymetallic veins, manto replacements and a strongly altered intrusion with stockwork quartz-pyrite veining. Identifying this porphyry-style mineralization on the claim block is a very positive development," — Dr. Craig Gibson, Chief Exploration Officer.
• "Much of the focus of the exploration program to date consisted of a property-wide survey of historic mines and prospects surrounding the Silver King workings," — Gordon Aldcorn, President.