Prismo Metals Closes Strategic Transaction with Blade Resources

Core Viewpoint - Prismo Metals Inc. has successfully completed a transaction with Blade Resources Inc., transferring its rights in the Hot Breccia copper project to Blade, while retaining a significant stake in Blade [1][10][12]. Transaction Details - Prismo received 6,755,000 common shares of Blade and a cash payment of $185,000, making it the largest single shareholder with approximately 24% ownership [10][12]. - The transaction is expected to enhance Prismo's access to capital for the Hot Breccia drill program without diluting its shareholders [12][17]. Drilling Update at Silver King - The first drill hole at the Silver King project reached a depth of 477 feet (145 meters) and successfully intersected mineralized zones, confirming the presence of silver minerals [3][5]. - The current drilling program is fully funded and aims to test the upper portion of the mineralized body, with an initial estimate of 1,000 meters of diamond drilling planned [3][5]. - The second drill hole is currently at a depth of 155 feet, with further drilling anticipated to explore deeper levels and adjacent areas [3][5]. Geological Context - The Silver King and Magma Mines share a similar geological framework, with Silver King featuring silver-dominant veins and potential for deeper copper mineralization [6][5]. - The mineralization at Silver King is characterized by epithermal-mesothermal silver veins, contrasting with Magma's copper-focused deposits, indicating potential for polymetallic extensions [6][5]. Strategic Focus - The company will concentrate on advancing its remaining projects in Arizona, specifically Silver King and Ripsey Gold, while Blade focuses on the Hot Breccia project [17]. - Prismo has the right to nominate a representative to Blade's board and has participation rights in future equity offerings to maintain its ownership percentage [17][12].