Prismo Metals Inc. (CSE: PRIZ) has commenced its 2,000m drill programme at its Palos Verdes project located in Sinaloa, Mexico.
The Palos Verdes property is contiguous to the Panuco silver-gold project. The drilling campaign is expected to last approximately two months.
The drill programme is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package.
A minimum 2,000m programme has been contracted with MW Drilling. Previous shallow drilling has intersected high grade mineralisation with the best intercept of 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8m within a larger mineralised interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3m.
“We are pleased to be able to conduct our programme to drill holes to intersect the Palos Verdes vein at significantly deeper levels than in the previous drilling campaigns. We will be able to test the vein several hundred meters underneath the surface exposures with the first hole being underway,” President and CEO, Dr. Craig Gibson, said.
Prismo also announced that it intends to complete a non-brokered private placement, issuing 750,000 common shares at a price of $0.20 per share for gross proceeds of $150,000 in the coming days. The private placement will be carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the Canadian Securities Exchange. There will be no finder fee paid in this private placement.
For further information please visit: https://prismometals.com/
