Quimbaya Gold Inc. achieves strategic growth with the proposed acquisition of a new mining title in Segovia, Colombia

(TheNewswire)

Vancouver, BC TheNewswire – June 13, 2024 Global Stocks News On June 11, 2024, Prismo Metals (CSE: PRIZ) (OTCQB: PMOMF) updated the market with three significant announcements.

1. The company received liabilities for $1.1 million private placement units at a price of $0.17 per unit.

2. In your own Breccia hot copper project (Arizona ), drilling permit is expected this month. The upcoming exploration program will focus on diamond drilling of five holes with the expected depth 1000 meters each .

3. On your own Silver Palos Verdes design (Mexico), there is a plan for a two-phase drilling program with 10 holes and a depth of 3,600 meters .

Prismo Metals is a base and precious metals company strategically positioned to benefit from the global transition to green energy (copper and silver) and the de-dollarization of international currencies (gold).

Click on the photo to view in full size

1. Unmediated private offer

Prismo received commitments for 6,500,000 units at a price of $0.17 per unit gross income of $1,105,000 expected to be finalized around June 18, 2024.

Each unit is under a semi-warrant. Each whole warrant entitles the holder to purchase one share of common stock or Prismo for two years at a price of $0.25.

“We are pleased to welcome several new shareholders who will participate in the private placement ”said Steve Robertson, president of Prismo Metals .

2. Breccia hot copper project

The Hot Breccia property consists of: 1,420 hectares, 227 contiguous mining areas located in Arizona’s world-class copper belt between several very well-known world-class copper mines, including Morenci, Ray AND Resolution .

“At the Hot Breccia facility, we are in the desert and there is not much in the area other than mines and mining towns,” Alain Lambert, CEO of Prismo, told Guy Bennett, CEO of Global Stocks News (GSN). “Two towns in the area, Hayden (population 500) and Winkelman (population 290), are steeped in Arizona mining history. It is a mining-friendly community with an experienced workforce.”

” The anticipated exploration program at Hot Breccia will focus on diamond drilling five holes with an expected depth of 1,000 meters each for a program with a total length of 5,000 meters ,” country Robertson in a June 11, 2024 press release: “We will soon be drilling a very exciting copper deposit located in a favorable jurisdiction.”

The Christmas project 4 kilometers to the north is a model of Hot Breccia mineralization. It is associated with intermediate intrusive rocks in favorable sedimentary rocks. There are historic drilling sites on and near the property from the 1970s and early 1980s.

“The Christmas Mine began production before World War I and operated until 1982, with a small smelter on the site,” Robertson told GSN. “25 million tons of 1.5% copper were produced. Christmas is a good indicator of the type of mineralization we are looking for in Hot Breccia.”

Click on the photo to view in full size

When investors hear “copper,” they typically think “Chile,” “Australia,” or “Peru,” but Arizona in the U.S. is a major copper producer.

“If Arizona were a country, it would be the seventh-largest copper producer in the world,” states the Arizona Mining Association.

There are 10 major copper mines in Arizona. About 75% of U.S. copper production comes from the Grand Canyon State.

According to the 2023 Fraser Institute Mining Survey, Arizona ranks 7th vol best mining jurisdiction on global investment attractiveness index which takes into account the influence of both political factors AND mineral equipment .

Chile, on the other hand, ranks 60th vol on the global investment attractiveness index.

Click on the photo to view in full size

The Arizona Copperbelt has attracted several large mining companies.

Freeport-McMoRan (NYSE: FCX) – $70 billion global resources company headquartered in Arizona Morenci mine which employs 3,760 workers and has a direct economic impact of $691 million in the state.

The Morenci mine is a porphyry copper deposit characterized by primary and secondary oxide, sulphide mineralization.

Prismo’s design, Hot Breccia, shares many features with neighboring systems Morenci , Radius AND Resolution .

On March 4, 2024, Prismo announced that it was engaging exploration technologies in San Diego, California to deploy xFlare, an artificial intelligence (AI) optimized drill planning solution, at the Hot Breccia project where multiple features suggest good mineralization Arizona style copper porphyry lies deep.

Last year, Prismo conducted a ZTEM survey that identified a large conductive anomaly directly beneath the breccia outcrops. Prismo expects xFlare’s AI technology to determine exactly where and at what depth to drill.

“ZTEM gives clear insight into what is happening at depth,” Robertson told GSN. “It is also an economic filter. Small, poorly conductive zones will not be visible. It’s good for us. We are looking for large anomalies.”

Click on the photo to view in full size

3. At the Palos Verdes Silver Project (Mexico), a plan for a two-phase drill program with 10 holes and a depth of 3,600 meters .

The planned wells in Palos Verdes will be drilled in the Vizsla Silver Corp (TSXV: VZLA) concession, adjacent to the Palos Verdes concession, and will target the depth of the Palos Verdes vein,” PRIZ states in a press release dated June 11, 2024.

The project is located in the historic silver and gold district of Pánuco-Copala in southern Sinaloa, Mexico, approximately 65 kilometers northeast of Mazatlán, Sinaloa, in the municipality of Concordia.

The Palos Verdes Concession (claim) covers a 700-meter section of the Palos Verdes Vein. The mineralization is open in all directions and the current planned drilling program is designed to follow it along the production line and to depth.

” Immediately following the closing of the private placement, we will mobilize our drilling crew in Palos Verdes to begin the next phase of drilling,” said Craig Gibson, Prismo co-founder and director of exploration, “ These holes will target the Palos Verdes vein at depth.

Last year, the Company completed its third drilling campaign, drilling 2,923 m in 15 holes, with several holes showing high levels of mineralization.

Tests included bore PV-23-25 z Gold weighing 102 g/t , Silver weighing 3100 g/t and 0.26% zinc per 0.5 meters, or Silver equivalent 11520 g/t.

Click on the photo to view in full size

Prismo Metals recently presented at the Deutsche Goldmesse conference in Germany, hosted by Soar Financial Partners.

“The Arizona Copperbelt is one of the most productive copper belts in the world,” Robertson told conference participants in Frankfurt. “We are surrounded by world-class deposits.”

“One hundred kilometers east of our property is Morenci, which has a £75 billion copper fund,” Robertson continued. “Forty kilometers to the north is Revolution, which has 1.6 billion tons of copper at 1.6%. Morenci and resolution are important for the thesis setting our exploration goals in Hot Breccia.”

Click on the photo to view in full size

The global industry shift towards renewable energy, electric vehicles and the growing artificial intelligence sector has improved the prospects for copper demand.

“Copper is the most fascinating trade I have ever seen in my 30-plus years of trading.” said Carlyle Chief Strategy Officer Jeff Currie . The price of copper is up 20% in 2024. Currie expects it to reach $15,000 per tonne in the next few years, an increase of about 45%.

“S&P Global forecasts copper demand will double to 50 million tonnes by 2035.” Euro News reports on May 15, 2024 . “The most significant demands are expected to come from the United States, China, Europe and India.”

Prismo’s Breccia hot copper project in Arizona is expected to meet future copper demand.

Disclaimer: Prismo Metals paid GSN CND $1,500 to research, create and distribute this content.

Contact: [email protected]

Full disclaimer