Prismo Metals Inc. provided an update for its exploration program at the Palos Verdes property located in the Panuco district in Mexico. Following the completion of its third drill campaign with 2,923 meters drilled in 15 holes, and in preparation of the upcoming expanded drill program to be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession, the Company completed an alteration and geochemical study over the Palos Verdes property.

The results of this work indicate the possibility that the mineralized shoot defined by drilling to date on the west side of the property may be truncated and offset downward along a cross fault, and that a second blind mineralized shoot may exist to the northeast along the Palos Verdes vein. The alteration study was carried out using a field portable Terraspec Halo near-infrared spectrometer to identify mica and clay minerals that make up the wall rock alteration assemblage surrounding the mineralized veins in surface exposures and drill core. Clay minerals typically found at high structural levels in low sulfidation vein systems provide evidence that the northeastern portion of the property has been down-dropped, probably along the northerly trending cross structure previously identified.

A geochemical sampling program focused on narrow and most strongly mineralized portions of the vein was conducted along the exposed strike length of the Palos Verdes vein system. The best sample from this program assayed 930 g/t silver and 10.55 g/t gold with 15.4% zinc and 4.5% lead (2,605 g/t Ag/Eq) over 0.5 meters. Strongly anomalous values of precious metal and indicator elements occur above the mineralized shoot identified during drilling and also along the vein system further to the northeast.

This area may indicate the presence of a second blind mineralized shoot that will also be tested by the deep drilling from Vizsla ground. The Company completed its third drill campaign last year with 2,923 meters drilled in 15 holes with high grade mineralization encountered in several holes. Assays previously reported from this program include the highest-grade intercept recorded at the project in hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent.

The last eight drill holes in the program, PV-23-26 to PV-23-33 were drilled to test the limits of the mineralized shoot in the western portion of the vein at depth and to the east of the NW fault. Holes PV-23-27 and PV-23-29 to PV-23-33 tested the mineralized shoot to define the limits of mineralization and cut variably mineralized vein material. The angle of inclination of several holes was very steep at -75 degrees, and drilling from the Vizsla Silver ground will provide more useful information.

Holes PV-23-26 and PV-23-28 explored to the east of the NW fault and did not cut significant mineralization but provided valuable information for the next holes that need to be drilled deeper from the adjoining Vizsla Silver ground. 2023 Drilling Highlights: PV-23-25: This hole intersected 11,520 g/t Ag equivalent over 0.5 meters (3,100 g/t Ag, 102 g/t Au and 0.26% Zn). This intercept is part of a wider mineralized interval with 4,311 g/t Ag equivalent over 1.35 meters (1157 g/t Ag, 38 g/t Au and 0.1% Zn).

A second interval higher in the hole yielded 512 g/t Ag equivalent over 0.3 meter (384 g/t Ag, 1.36 g/t Au and 0.27% Zn). PV-23-24: This hole intercepted 1,234 g/t g/t Ag equivalent over 0.7 meter (60 g/t Ag, 11.9 g/t Au and 3.9% Zn). This interval is within a wider 2.6-meter interval with 384 g/t Ag equivalent (32 g/t Ag, 3.3 g/t Au and 1.57% Zn).

A second interval higher in the hole yielded 302 g/t Ag equivalent over 1.2. meters (95 g/t Ag, 1.84 g/t Au and 1.2% Zn). PV-23-20: This hole intercepted 189 g/t g/t Ag equivalent over 0.9 meters (58 g/t Ag and 1.58 g/t Au) and is the first mineralized intercept in the northeastern portion of the concession. PV-23-32: This hole intersected 450.2 g/t Ag equivalent over 0.3 meters (45 g/t Ag, 0.83 g/t Au, 0.43% Pb, and 0.47% Zn) as part of a larger zone of 2.2 meters with 115 g/t Ag equivalent.

A second interval deeper in the hole yielded 391.5 g/t Ag equivalent over 0.4 meters (17 g/t Ag, 3.56% Pb, 6.03%Zn) within a larger interval of 5.55 meters with 103.8 g/t Ag equivalent. PV-23-33: This hole intersected 112.7 g/t Ag equivalent over 0.35 meters (37 g/t Ag, 0.489 g/t Au, 0.36% Pb, and 0.56% Zn). A second interval deeper in the hole yielded 105.6 g/t Ag equivalent over 0.3 meters (20 g/t Ag, 0.22% Pb, 1.79% Zn).

A third interval contained 382.2 g/t Ag equivalent over 0.45 meters (144 g/t Ag, 0.45% Pb, 5.12% Zn) within a 0.75-meter interval of 253.4 g/t Ag equivalent (95 g/t Ag, 0.31% Pb, 3.39% Zn).