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Dear Prismo Metals community,
Welcome to our November update. The past several weeks have been marked by significant exploration advancements at our projects in Arizona. The momentum continues to build, particularly at our Silver King project, validating our strategic decision to acquire these historic high-grade assets this past summer.
The work at Silver King, a mine historically renowned for producing nearly 6 Moz of high-grade silver, has yielded exceptional results over the past month. Following the discovery of new veins in August, our team identified porphyry-style mineralization in September. This finding is particularly significant given Silver King's location just three kilometers from the world-class Resolution Copper deposit. It strongly suggests that Silver King may be part of a much larger copper mineralizing system, potentially representing the halo of the Resolution system or a distinct porphyry center.
Subsequent assay results confirmed this potential, returning exceptional high-grade values not only for silver (up to 757 g/t) but also significant copper (up to 2.43%), lead (up to 6.7%), and zinc (up to 11.5%). These results came from multiple target types on the property, demonstrating the widespread nature of the mineralization.
Based on these compelling results, we have expanded our planned drill program at Silver King. Beyond testing the historic pipelike silver body and its surrounding halo in the initial 1,000-meter phase, a second 1,000-meter phase will now target the newly identified polymetallic vein, copper vein, and replacement mineralization. To support this expanded scope, we have initiated financing efforts which are currently underway. We are also advancing the permitting process with the US Forest Service for the initial drilling phase.
Our Ripsey Gold project, another historic high-grade producer acquired this summer, also delivered exciting news. Recent assays reported high-grade gold (up to 7.88 g/t Au), alongside significant silver, copper, and zinc. Furthermore, overlimit silver assays confirmed values ranging from 132 to 224 g/t Ag along the 600-meter vein strike. These results are highly encouraging, especially considering Ripsey has seen no modern exploration, representing significant untapped potential for discovery.
While our operational focus is sharp on advancing Silver King and Ripsey, our flagship Hot Breccia copper project remains a key strategic asset. We are firmly committed to advancing this project and, to that end, are pleased to have reached a cooperative agreement with our partners at Walnut Mines LLC. As announced, we have extended certain milestone obligations for exploration expenditures and cash payments. This extension provides us with additional flexibility as we assess strategic alternatives to position Prismo to commence drilling on this compelling, large-scale copper opportunity.
With outstanding assay results confirming our geological models at Silver King and Ripsey, and enhanced flexibility for our strategic assets, Prismo is in a strong position. We are committed to unlocking the considerable potential of our Arizona assets.
We appreciate your continued support and look forward to sharing further updates soon. To stay informed about our projects and progress, please visit our website: www.prismometals.com and subscribe to our newsletter.
Warm regards,
Alain Lambert
CEO of Prismo Metals
Gordon Aldcorn
President of Prismo Metals
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