Prismo Metals Increases Interest in Hot Breccia Copper Project
Vancouver, British Columbia — January 9, 2026 — Leads & Copy —
Prismo Metals Inc. has entered into an agreement with Infinitum Copper Corp. to increase its interest in the Hot Breccia copper project in Arizona from 75% to 95%. Prismo has also secured an irrevocable option to acquire Infinitum’s remaining 5% interest, paving the way for 100% ownership of the project.
Alain Lambert, CEO of Prismo, stated that the absence of a clear mechanism to secure full ownership had previously limited the company’s ability to fund drilling and pursue potential third-party partnerships. According to Lambert, the transaction removes that constraint and improves the strategic flexibility of the project.
Prismo remains committed to advancing Hot Breccia, Lambert said. The recent extension of certain milestone obligations under the option agreement with Walnut Mines LLC, the owner of the Hot Breccia claims, provides Prismo with additional flexibility as it evaluates strategic alternatives. Prismo intends to commence drilling on what it considers to be a compelling copper exploration opportunity in Arizona and the broader United States.
Dr. Linus Keating, manager of Walnut Mines LLC, said Walnut Mines favors any action that moves Hot Breccia closer to a serious drill program and hopes this transaction will accomplish that goal in 2026. He added that Walnut believes the property remains one of the best copper exploration opportunities in North America.
Under the terms of the transaction, Prismo will pay Infinitum CA $185,000 to acquire an additional 20% interest in the Hot Breccia project and assume all of Infinitum’s remaining obligations under the Option Agreement to issue shares to Walnut, currently evaluated at approximately CA $54,000 through the issuance of Prismo common shares at a deemed issue price of $0.11 per share, subject to adjustments at closing. Prismo has also agreed to pay 5% of any consideration received in connection with a transaction in which Prismo assigns its interest in Hot Breccia to a third-party. The cash payment will be funded through a third party as an advance to the Company and will not utilize its working capital which is earmarked for the advancement of the Silver King project. Closing of the transaction is expected to take place on or around January 16th.
Prismo’s Hot Breccia project is located in the Arizona Copper Belt, which hosts several globally significant porphyry copper deposits, including Freeport McMoRan’s Miami-Inspiration mining complex, BHP’s San Manuel mine, and Rio Tinto and BHP’s Resolution deposit.
Historical drilling carried out in the mid to late 1970’s by a Rio Tinto subsidiary intersected high-grade copper mineralization at depths ranging from 640 to 830 meters below surface. Several holes targeted an area with a coincident magnetic high, believed to be caused by magnetite skarn. Prismo believes those intercepts may represent the periphery of the upper portion of a large mineralized system.
Support for the Company’s mineralization model at the project comes from several sources, including the results of historical drilling, geophysical surveys, distribution of dikes with xenoliths of Cu-bearing skarn, the 2023 ZTEM survey as well as the results of an AI study. The anomalous target area identified in Prismo’s modelling measures 1,100 meters by 1,150 meters.
Dr. Craig Gibson, Chief Exploration Officer of Prismo, stated that the copper exploration target at Hot Breccia has geophysical, geochemical and geological features characteristic of many porphyry copper deposits. He added that the drill program is intended to drill through the entire prospective Paleozoic carbonate stratigraphy into the postulated porphyry body/breccia zone and the exploration team will take advantage of geological information provided by each hole during drilling to refine targeting of subsequent holes.
Historical drill holes cut high grade skarn mineralization including 23 meters with 0.54% Cu at 640 meters depth (hole OC-1), 18 m with 1.4% Cu and 4.65% Zn at 830 meters depth (hole OCC-7), and 7.6 m with 1.73% Cu and 0.11% Zn at 703 meters and 4.6 meters with 1.4% Cu and 0.88% Zn at 716 meters (OCC-8). Mineralization occurs within a several hundred-meter-thick altered zone hosted in favorable Paleozoic carbonate rocks that underly a sequence of Cretaceous andesitic volcanic rocks. These carbonates are the same rocks that host the high-grade copper mineralization at Freeport’s nearby Christmas mine. The historical drilling intersected a blind mineralized intrusion associated with the skarn mineralization, providing an immediate drill target that is believed to be the source of the mineralization at Hot Breccia.
The Hot Breccia property consists of 1,420 hectares in 227 contiguous mining claims located in the Arizona Copper Belt between several world-class copper mines including Morenci, Ray and Resolution. Sampling at the project has shown the presence of copper mineralization associated with dacite dikes that transported fragments of strongly mineralized carbonate rocks to the surface from depths believed to be 400-1,000 meters. Drilling deep holes is necessary to tap into the source of these mineralized fragments found at surface.
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI 43-01 and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosure in this news release.
Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Gordon Aldcorn, President gordon.aldcorn@prismometals.com
Source: Prismo Metals Inc.
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