Read Time: 5 Minutes

In a detailed two-hour conversation, Alain Lambert, CEO of Prismo Metals, and Dr. Craig Gibson, President, discussed the company’s current drilling projects, exploration challenges, and future outlook. The interview offered a rare inside look at the intricacies of mineral exploration, drilling strategy, and how Prismo Metals is positioning itself for success in both the Mexican and U.S. markets.

The mineralization started above 2,100 feet and extended to the end of the hole. It’s not constrained by just 77 feet of high-grade copper; it’s a much larger system.

Craig Gibson, President Prismo Metals (CSE: PRIZ)

Section 1: Drilling Strategy at Palos Verdes

Prismo Metals is actively drilling at Palos Verdes in Mexico, where they aim to test for deeper mineralization and uncover new opportunities. The company’s first drill hole in this phase is 250 meters deep, part of a larger 1,250-meter program.

Lambert explained the delays in drilling due to logistical challenges and permits, noting, “It probably took a little longer than we would have hoped, but here we are, and we are drilling.” Dr. Gibson detailed how they’ve completed over 6,000 meters of drilling across 33 holes, largely focused on shallow mineralization. Now, they are moving towards deeper targets with hopes of identifying significant vertical extensions.

“We’re drilling down dip from our best hole to date on the project, which was 102 grams per ton of gold and 3,100 grams per ton of silver over half a meter. That’s about an 11,500-gram silver equivalent. So, we’re following that trend,” said Dr. Gibson.

Key objectives include testing for continuity of mineralization at depth and evaluating whether there’s potential for higher-grade discoveries.

Section 2: Faults, Structure, and Targeting Mineralization

One of the critical challenges the company faces is the complex faulting structure at Palos Verdes. The vein is split into two main blocks, with the southwestern block already well-understood from previous drilling. However, the northeastern block presents new opportunities, with a downdropped section potentially holding significant mineralization at depth.

Dr. Gibson explained, “Based on geology and alteration mineralogy, we believe the northeastern part of the vein has been downdropped by 50 to 100 meters. Our goal is to test that with this drill program.”

The faulting could also create challenges in tracing mineralization, but Gibson was confident that their understanding of the vein’s structure will guide their exploration.

Section 3: Terrain and Logistical Challenges

Drilling in rugged terrain is never easy, and Prismo Metals has faced significant logistical challenges at Palos Verdes. The drill site is located on a steep slope, requiring extensive manual labor to move equipment and build safe access trails. Lambert highlighted the difficulties of this terrain, explaining how they had to use “man-portable” equipment.

“We’re drilling off the side of a cliff, and all the parts have to be brought in by hand. The motor, for example, is split into three 50-kilo parts to make it portable. It’s a real challenge,” said Lambert.

Despite these challenges, the team is pushing forward, constructing drill pads and preparing for the next phase of the program. The rugged environment and manual equipment setup add to the cost and time, but the company is determined to stay on track.

Section 4: Results and Market Expectations

Lambert provided insights into how Prismo Metals plans to release drill results, explaining the balance between satisfying market expectations and ensuring comprehensive data analysis. “Do we really want to release hole by hole? That might be a trap,” said Lambert. He emphasized that they want to avoid releasing incomplete data without a clear geological understanding.

Dr. Gibson added, “We could have said ‘why don’t we release those results?’ when we hit high-grade veinlets, but we didn’t know what they were telling us yet.”

The company expects to release initial results within a month and hopes to build a more comprehensive understanding of the project as drilling progresses. Lambert hinted at a more cautious approach to releasing results, suggesting that they may wait to have a more complete picture before making major announcements.

Section 5: Financial Health and Funding the Next Phase

One of the key topics discussed was the company’s financial position. Lambert assured that Prismo Metals has enough funding to complete the current drill program at Palos Verdes and cover general and administrative costs. However, they will need additional financing for the next phase of exploration at their Hot Breccia project in Arizona.

The Hot Breccia project is expected to require $2 million for a 5,000-meter drill program. Lambert and his team have been actively engaging with investors over the summer and are confident that they will be able to raise the necessary funds.

“We’re in a favorable financing environment for the upcoming Hot Breccia drilling,” said Lambert.

Section 6: The Hot Breccia Project – The Flagship Asset?

While Palos Verdes is generating interest, Lambert acknowledged that the Hot Breccia project in Arizona is the company’s flagship asset. The project, which has significant copper potential, has attracted new investors and could be transformative for Prismo Metals.

Dr. Gibson shared some exciting updates about the project, revealing that they’ve acquired historical data from the 1970s, which included drill logs that provide new insights into the mineralization. “The mineralization started above 2,100 feet and extended to the end of the hole. It’s not constrained by just 77 feet of high-grade copper; it’s a much larger system,” explained Gibson.

The team is also working with advanced AI models to refine their drill targets and hopes to have a drill on site within a month or so.

Section 7: Building Momentum and Investor Relations

Throughout the interview, Lambert emphasized the importance of maintaining strong relationships with shareholders and keeping them informed. “It’s easier to retain a shareholder than to find a new one,” he said, underlining the company’s commitment to transparency.

Prismo Metals has seen a 225% increase in its stock price since their last interview, driven by positive news flow and interest from new investors. Lambert highlighted the role of social media and online communication in reaching a broader audience, while also acknowledging the value of face-to-face meetings with investors.

“We’ve been out there on the road, meeting retail investors, attending conferences, and telling the story. It’s about building those relationships,” Lambert explained.

Conclusion

Prismo Metals is navigating a complex and challenging exploration landscape, but the company’s methodical approach to drilling and financial management is positioning them for potential success. With active drilling at Palos Verdes and the Hot Breccia project on the horizon, investors have a lot to look forward to in the coming months.

The interview provided a comprehensive overview of the company’s strategy, challenges, and opportunities, while also offering valuable insights into the realities of mineral exploration. For investors and industry insiders, Prismo Metals is a company to watch as they continue to uncover new possibilities in Mexico and Arizona.

“We’re not drilling for a quick hit; we’re drilling to build a real, lasting resource,” said Lambert, summing up Prismo’s long-term vision.

Prismo Metals CEO Interview

This is a very brief summary of what was a lengthy interview. Don’t rely on this summary. Watch the full interview which is linked above.

Please note that this guest has paid for the creation of this content. The Resource Talks interview rules are simple.
The companies, albeit paying or non-paying, get no questions upfront, no questions off the table, and no editing rights.

The information provided herein is general & impersonal in nature and meant for entertainment purposes only. The reader acknowledges and agrees that the information does not constitute a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. The author is not a licensed investment advisor. He is just another talking head on the internet. He might own shares of companies mentioned in this publication. Always assume he doesn’t know much more than a potato does. The mining & exploration space is among the riskiest sectors to invest in. The risk of anything mentioned in this publication is 100% loss of capital. If you don’t read the official documents provided by the company on http://www.SedarPlus.ca, you will lose all of your money.