The Project consists of 227 mining concessions that lie about four kilometers from the historic Christmas mine which recorded production of about 481.6 Mlbs of copper from 20.2 M tons at a grade of 1.2% Cu plus significant gold and silver (Sources:
The Project is currently subject to an Option Agreement between
Under the terms of the Agreement, Prismo will pay
Upon satisfaction of the earn-in obligations and the Option being exercised, Prismo and Infinitum will enter into a joint venture agreement whereby Prismo will be the initial operator of the project. After all earn-in obligations are satisfied, Prismo will have acquired 75% of the Hot Breccia Property, subject to a 2% NSR royalty to Walnut.
Kennecott drilled seven holes from 1972 to 1981 and
All drill holes intersected hydrothermal alteration within the volcanic rocks that overlie the typically better mineralized Paleozoic carbonate rocks with increasing alteration intensity downwards. The carbonate host units have several copper intercepts reported to exceed 1% copper and elevated zinc.
Kennecott reported highlights:
OC-1: 77' with 0.54% Cu at 2,100'
OCC-7 60' of 1.4% Cu, 4.6% Zn at 2900'
OCC-8: 25' with 1.73% Cu and 0.11% Zn at 2,305' and 15' with 1.4% Cu and 0.88% Zn at 2,350'
1,270 feet of variably mineralized skarn with several intercepts over 1% copper and a high of 3.16% copper
The source for the drill hole data above is Keating, L. DSc, CPG (2021): 'The HotBx Claims,
The drill data presented in this press release is incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historic data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.
Drill hole data for holes from the Kennecott program
Coordinates in UTM NAD27 estimated from drill logs.
Location of the Hot Breccia property withing the southern
Location of the Hot Breccia claim package southeast of the Christmas mine.
Cross section through the Christmas mine showing mineralized material defined by
All references to dollars or $ in this press release are in Canadian dollars.
Dr.
About Prismo
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in
Contact:
Chief Executive Officer and Director
E: craig.gibson@prismometals.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the potential of the Hot Breccia project, anticipated content, commencement and exploration program results, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, and therefore it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including CSE acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.
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