Prismo Metals Authorized to Start Drilling at Palos Verdes
Canada-based exploration company Prismo Metals announced it received the authorization to start drilling works at its Palos Verdes property in Sinaloa. The company said this will start a new phase in its operation at the Palos Verdes project, one of its two Mexican flagship projects.
Prismo Metals reported it was authorized to drill over 70% of the Palos Verdes vein strike length, which was not previously accessible for drilling. The company reported it has already mobilized a crew to the project to prepare the new phase of its drilling program.
At this stage, Prismo Metals will focus on the installation of drill sites for a portable drill rig. The company said that drilling works are scheduled to begin in April 2023. “We are pleased to be able to access the remaining portion of the Palos Verdes concession to conduct a program to
test the Palos Verdes vein along strike from the previous drilling. The program is designed to expand on the positive results from our past drilling and expand the area of the high-grade mineralized shoot to the northeast of the Palos Verdes tunnel,” said Graig Gibson, President and CEO, Prismo Metals.
According to Prismo Metals, past drilling on the Palos Verdes vein has shown the presence of a large mineralized shoot. The drilling program aims to expand the project’s mineralized body and test the area to the northeast.
The Palos Verdes project is contiguous to Vizsla Silver’s assets within the Panuco silver-gold district. Both companies agreed to form a technical committee to jointly explore the district. “In January Vizsla Silver concluded a strategic investment in Prismo, which resulted in Vizsla owning 10.1% of Prismo. In connection with this investment, we look forward to working with Vizsla’s Vice President of Exploration Jesus Velador and his team to design our next phase of drilling at Palos Verdes,” Gibson said.
With this approval for drilling works, Prismo Metals has only one project left to receive authorization to conduct such activities, the Los Pavitos project in Sonora. On Oct. 31, 2022, Prismo Metals announced that it signed an agreement with Francisco Villa ejido, the landowner of the Los Pavitos plot. The agreement paved the way for the drilling permit application, which finally materialized on Feb. 10, 2023, as reported by MBN. According to the company, the drilling program would start in early 2023.