Prismo Metals Inc【PRIZ】株式ニュース

The Hot Breccia Project – Prismo Metals Inc.
by Insidexploration July 29, 2024

https://insidexploration.com/the-hot-breccia-project-prismo-metals-inc/

The Hot Breccia Project – Prismo Metals Inc.
Introduction

Prismo Metals inc (CSE: PRIZ, OTCQB: PMOMF, FSE: 7KU) is a Canadian based growth-stage exploration company led by a team of experienced mining professionals with a track record of successful discoveries. Prismo also benefits from the strong capital markets experience of its CEO and CFO. Currently, the team is focused on creating shareholder value by acquiring, exploring and developing base precious metal projects in the USA and Mexico.

The flagship property and focus of this report is the Hot Breccia Property which consists of 1,420 hectares of contiguous mining claims located in close proximity to several operating and past producing copper, gold and silver mines within the world-class Arizona Copper Belt.

Figure 1: Hot Breccia Project Claim Boundaries

In addition to the Hot Breccia Project, the company is actively exploring two precious metal projects in Mexico. The first being the Palos Verdes Project which is a 22.8-hectare property located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico. This region is a largely unexplored new gold district featuring shear-hosted orogenic gold potential which is analogous to some of Sonora’s largest gold mines. Fully encompassed by Vizsla Silver (TSX-V: VZLA) who has taken a 9.6% stake in Prismo. This is a solid asset with minimal risk as Vizsla is funding current drill campaigns making this project a value-added future sale for the company.

The second project is Los Pavitos and it consists of 5,289-hectares located in southern Sonora, Mexico. Los Pavitos was generated by a Peter Megaw backed Mexican company, Cascabel. The concept was that a well established orogenic gold belt in California and Sonora States, should extend further to the south to the position of Los Pavitos.
Summary

Introduction – A brief description of Prismo Metals and the project portfolio

The Arizona Copper Belt – Discussing the Arizona Copper belt and the significance of the mining industry in Arizona

The Hot Breccia Property Overview – A summary of the Hot Breccia Property

Geological Setting and Mineralization – A general overview of the geological features that make up the Hot Breccia Property and surrounding area.

Exploration History – Discovery to 1925 – Looking at key segments of the 1925 report by the USGS on the Saddle Mountain and Banner Mining Districts

Exploration History – 1925 to Present Day – Account of exploration efforts by Kennecot’s subsidiary Bear Creek Mining Company and the 1974 report on the property.

Prismo Exploration – Looking at what Prismo has done since acquiring the Hot Breccia Property.

Conclusion – Closing statements

References – References used in the creation of this report
The Arizona Copper Belt

To understand the Hot Breccia Project, it is important to add context as the property is located in a tier 1 copper jurisdiction more widely known as the Arizona Copper Belt. This region accounts for roughly 68% of U.S copper production from around a dozen major copper mining operations producing anywhere from 23-632 million pounds of copper per year. Most of these operations are near surface open pit mines focused on porphyry deposits, with copper being associated with intrusive igneous rocks like granite carrying by products of molybdenum, gold, silver and zinc.

Figure 2: The Arizona Copper Belt

The history of mining in Arizona goes back to the late 1500’s when Spanish explorer’s first discovered Silver in the Jerome district. However, the area was remote, arid and didn’t offer very favourable working conditions to properly mine the discovery and therefore was ignored. In fact, it wouldn’t be until around 1750 that small scale artisanal mining operations would start popping up in the state.

The mining rush in California and Nevada naturally brought the same hopeful prospectors through the state of Arizona and while to the north gold and silver were the metal of choice, copper was becoming more accessible and profitable on the southeast portion of the mineralized band that cuts through the state. Along this trend, several copper mining districts emerged such as the Ajo, Bisbee-Warren, Globe-Miami, Clifton-Morenci, Banner and White Mesa Districts to name a few, giving birth to the Arizona Copper Belt.

Several small scale mining operations started popping up in the mid to late 1800’s, but most were focused on high grade ore that was easily accessible from surface. Many of these operations were short lived but what really initiated the large-scale open pit copper mining operations we see today was the emergence of the Bingham Canyon mine in Utah. Having successfully open pit mined a low-grade copper deposit at a profit, the same standards were applied to several deposits being developed in Arizona.

By the 1900’s copper mining operations were developing all over the state. Phelps Dodge and Calumet & Arizona Mining Company led the charge in several key mining districts but none more important to the state than The Clifton-Morenci Mine. Operations at Morenci started in 1873 and is still in operation today. However, open pit mining didn’t start until 1937, but since then it has produced over 40 billion pounds of copper. Today, Morenci is the largest copper producer in North America and one of the largest open-pit mining operations globally covering 68,400 acres or 80 square miles. While Morenci sits outside the actual belt, its worth noting as its impact on the economy and mining in the region cannot be overstated.

Figure 3: Morenci Mine 2024

Along the copper belt, several other mines were being developed through the early 1900’s with the Ray Mine in particular leading to the development of the Hayden Smelting Facility. Built in 1912 for the purpose of processing the material from the Ray Mine just outside the town of Hayden. Today the Hayden Smelter stands as one of only 3 copper smelters in the USA. The other two are the Freeport McMoran Miami Smelter and Rio Tinto’s Kennecott smelter in Utah. For the last four years Hayden has been under care and maintenance due to labour disputes. However, a recent announcement by ASARCO stated that the facility is preparing to re-open considering the rising cost of copper and the global shortfalls in supply. Reopening Hayden will boost copper supply across the country which currently imports half of its refined copper supply. It will also play a pivotal role in the development of the Hot Breccia Project as it’s just a few kilometers away.

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