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About
Name: Prismo Metals Inc.
Tickers: 🇨🇦 PRIZ 🇺🇸 PMOMF 🇩🇪 7KU
Commodity: Copper, Gold, Silver
Jurisdiction: USA, Mexico
Stage: Exploration
Market Cap: $8M CAD
Prismo is focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).
The Hot Breccia property consists of 1,420 hectares 227 contiguous mining claims located in the world class Arizona Copper Belt. The project lies about four kilometers from the historic Christmas mine which recorded production of about 481.6 million pounds of copper from 20.2 million tons at a grade of 1.2% Copper plus significant gold and silver (Sources: Arizona Geological Society Spring Field Trip Guide in 2014). Prismo has not been able to verify the Christmas production information and it is not necessarily indicative of the mineralization on the Hot Breccia property.
Prismo holds the option to earn up to a 75% interest in the project from Infinitum Copper Corp. (TSXV: INFI, OTCQB: INUMF), subject to a 2% NSR royalty to a private company, Walnut Mines LLC.
For further information, please refer to the Company’s disclosure record on SEDAR+ at www.sedarplus.ca.
Or read more about Prismo at https://prismometals.com/.
Interview
This is a Prismo Metals Interview.
Antonio and Steve discussed the financial status of the company, focusing on its assets, liabilities, and recent expenditures. They also delved into the geological features of their properties, including the Christmas Mine and Hot Breccia, and the processes that lead to high-grade mineralization. Lastly, they discussed the company’s growth, planned drilling programs, and the potential for an underground mine on their property, with a focus on maximizing the value of their key projects.
Interview summary
Please note that this is an AI-generated interview summary. It may contain inaccurate information.
Discussing Christmas Mine and Hot Brecha
Antonio and Steve discussed the geological features and history of the Christmas Mine and Hot Breccia properties. Antonio explained that the Christmas Mine, now owned by Linus Keating, was explored by Kennecott in the 1970s and found to have evidence of a hydrothermal system. However, the project was abandoned due to changes in priorities and a lack of operating mines in the area. Steve added that the current focus is on properties like Hot Breccia, where the team needs to drill through thick cover rocks to reach the more interesting rocks below. They compared this to the Resolution deposit, which was discovered after following mineralization from a nearby mine.
Geological Processes and Rock Conductivity
Steve and Antonio discussed the geological processes that lead to the high-grade mineralization in their system. They focused on the interaction between hot, acidic hydrothermal fluids and carbonate rocks, which neutralizes the fluid and causes mineralization to develop. Antonio brought up a question regarding the conductivity of rocks at certain depths, suggesting that it could be due to the presence of materials like pyrite or copper. Steve explained that geophysical surveys often reveal anomalies, and the only way to confirm the presence of specific materials is through diamond drilling and direct observation of the rocks. He emphasized that until they have more information from deeper levels, their responses cannot be calibrated accurately.
Geophysical Exploration and Drilling Strategy
Steve explained to Antonio the complexities of geophysical exploration and the need to drill deep into specific areas of interest. They discussed their plans to drill five holes, each about a thousand meters deep, to better understand the prospective stratigraphy and locate the hydrothermal system. Steve indicated that they were waiting for the results of AI processing of their geophysical data to inform their drilling strategy, and that they planned to twin at least one of the old drill holes to improve their understanding of the mineralization. Antonio questioned the decision to twin old holes, but Steve argued that the old drilling may not have been deep enough and that extending the old holes could provide valuable information.
Volcanic Rocks, Mineralization, and CRD Checklist
Antonio and Steve discussed the presence of volcanic rocks and their potential impact on drilling and mineralization. Steve stated that while volcanic rocks are not necessarily a problem, carbonate rocks are considered a better host for ore based on their observations from other showings in the area. He also mentioned that old drill holes from the 1970s were still open, indicating good drilling conditions. Antonio inquired about the distribution of mineralization across different layers, but Steve clarified that they lacked the necessary data to create a complete picture. Steve also mentioned the presence of high-grade gold in some of the old workings and the potential continuity between porphies and carbonate replacement deposits (CRDs). Antonio asked about the status of a CRD checklist, to which Steve confirmed that it was always considered, with some obvious misses in their area.
Underground Mine Potential and Geological Context
Antonio and Steve discussed the potential for an underground mine on their property, focusing on the need for high-grade mineral deposits to support such a venture. Steve highlighted the advantageous geological context of their location in Arizona, citing the high-grade mineralization in nearby mines as a positive factor. He also mentioned the existing infrastructure and accessible location as potential economic benefits. However, he emphasized that it was still too early to speculate on metallurgical details and that drilling would be necessary to confirm the presence of viable deposits. They also touched on the potential for precious metal content, with Steve noting that Arizona has a significant silver background in many of its deposits. Finally, they discussed the potential impact of the hilly topography, with Steve assuring that it should not be a hindrance to a block cave operation due to sophisticated engineering models.
Diamond Drills Permitting and Funding Update
Steve reported that the permitting process for the diamond drills was progressing well and they expected to have the permits soon. They also intended to raise $3 million to cover immediate costs and planned to do that through an equity raise. Steve indicated that they believed the shares they hold are a good investment and had no immediate plans to liquidate them. Antonio suggested monetizing other projects to pay for the drilling, but Steve didn’t provide a direct response to this idea.
Company’s Property Plans and Drilling Strategies
Steve discussed the company’s plans for their three key properties. He emphasized the importance of maximizing the value of their Palisades Project in Mexico, which is strongly linked to Vizsla Silver, and announced plans for a drill program in 2024 to assess the vein system. Steve also mentioned the successful initial drilling at the Origin Gold Belt property, leading to a strategic approach for the next round of drilling in 2025, involving groundwork, mapping, prospecting, and geophysics. Antonio and Steve also discussed the potential for incorporating their property with neighboring successful projects. Furthermore, they plan to commence drilling at the Hot Breccia property in Arizona by the end of June, followed by exploration in the Panuco district and preparations for a drilling campaign at the Los Pavitos property in 2025.
Prizmo Projects and Fundraising Efforts
Antonio and Steve discussed their roles and the ongoing projects at Prizmo. Steve explained that he got involved as a consultant and advisor after his former company, Infinite Copper, optioned the opportunity to earn 75% to Prismo. He later joined Prismo as president, replacing Craig who moved into a more geology-focused role. They are promoting their projects, particularly the activity at Hot Breccia, and plan to communicate their results effectively to the market. Steve also mentioned that they have engaged with investors in various locations to raise funds for their activities.
Company Growth and Hot Breccia Project Update
Steve and Antonio discussed the company’s growth, with Steve confirming his expectation to remain personally invested in the company’s future success. They discussed the various projects Steve is involved in, including Prismo, Infinitum, and Cassiar Gold, among others. Steve shared his anticipation about the favorable market conditions for their copper exploration project, Hot Breccia, and the potential it holds for the company’s growth. They also discussed the timeline for drilling five 1,000-meter holes at Hot Breccia, with the first results expected in September. Antonio expressed his interest in following the company’s progress, and Steve welcomed the opportunity to keep him updated.
