Vancouver, British Columbia, July 3rd, 2025 — Prismo Metals Inc. (CSE: PRIZ; OTCQB: PMOMF) has made a significant move in the mining sector by signing option agreements to acquire a 100% interest in two historic high-grade precious and base metal mines: the Silver King and Ripsey mines. Both are strategically located in Arizona’s renowned Copper Belt, near Prismo’s flagship Hot Breccia project.
A Glimpse into the Silver King and Ripsey Mines
Silver King Mine: A Historic Treasure
Discovered in 1875, the Silver King mine stands out as one of Arizona’s most significant historic producers, boasting an impressive yield of nearly 6 million ounces of silver at grades reaching up to 61 ounces per ton. Notably, samples from small-scale production in the late 1990s revealed astonishing grades of 644 ounces per ton of silver (18,250 g/t) and 0.53 ounces per ton of gold (15 g/t). This indicates that high-grade mineralization still exists, with the presence of freibergite (AgCuSbS) hinting at potential antimony deposits, a mineral increasingly in demand for various applications.
Ripsey Mine: Untapped Potential
Located approximately 20 kilometers west of the Hot Breccia project, the Ripsey mine is another historic gold-silver-copper producer with significant upside potential. Historic sampling has returned impressive results, including up to 15.85 g/t gold and 276 g/t silver. However, the mine has not undergone modern exploration, leaving a wealth of opportunities for discovery.
Strategic Location and World-Class Neighbors
The Silver King mine’s proximity to the Resolution Copper project—one of the world’s largest unmined copper deposits—adds strategic value to Prismo’s acquisition. Situated just 3 kilometers from the main shaft of Resolution Copper, which boasts an estimated resource of 1.787 billion metric tonnes at an average grade of 1.5% copper, the Silver King mine is surrounded by a claim block that enhances its exploration potential.
Gordon Aldcorn, President of Prismo, expressed enthusiasm about the acquisition, stating, “The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near-term value through immediate exploration on a historic high-grade silver producer with antimony potential.”
Exploration Plans and Future Prospects
Prismo Metals plans to initiate a detailed mapping and sampling program at both the Silver King and Ripsey mines. The company aims to conduct an initial drill program at Silver King, targeting approximately 1,000 meters to explore the mineralized body at various elevations and laterally. Additionally, de-watering of the Silver King shaft may be undertaken to access upper levels, as submersible pumps are already in place.
Dr. Craig Gibson, Chief Exploration Officer, emphasized the significance of these projects, stating, “This is a fabulous opportunity for the Company. Both projects are high-grade and easily accessible, potentially associated with porphyry copper mineralization.”
Financial Aspects of the Acquisition
Prismo has structured the acquisition of the Silver King and Ripsey mines through a series of option agreements. For the Ripsey mine, Prismo can earn a 100% interest by issuing one million shares to the Optionor and making a series of cash payments over five years. The Silver King mine acquisition involves a more complex structure, requiring Prismo to incur significant expenditures and issue shares over a specified timeline.
In addition to the mine acquisitions, Prismo has announced a non-brokered private placement of five million units at an issue price of $0.05 per unit, aiming for minimum gross proceeds of $250,000. This funding will support the company’s exploration efforts and general corporate purposes.
Conclusion
Prismo Metals Inc.’s acquisition of the Silver King and Ripsey mines marks a pivotal moment in the company’s growth trajectory. With historic production records and strategic locations, these mines offer substantial exploration potential. As Prismo embarks on its exploration journey, the mining community will be watching closely to see how these projects unfold and contribute to the company’s future success.
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This article serves as a comprehensive overview of Prismo Metals’ recent developments, highlighting the strategic importance of their new acquisitions and the potential for future growth in the mining sector.
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