Welcome to our dedicated page for Prime Mining news (Ticker: PRMNF), a resource for investors and traders seeking the latest updates and insights on Prime Mining stock.
Company Overview
Prime Mining Corp (PRMNF) is a specialized exploration and mining company focused on the exploration, evaluation, and potential extraction of precious metals in Mexico. With an emphasis on gold and silver, the company leverages advanced drilling and resource evaluation techniques to characterize mineralized zones within prolific epithermal systems. This approach integrates both open pit and underground mining methods, offering operational flexibility and adaptability in a region known for its complex geology and high-grade mineralization. Keywords such as gold exploration, silver resource, and mining innovation are interwoven into the company strategy, reinforcing its technical orientation and industry presence.
Exploration and Resource Strategy
Prime Mining Corp has built a robust drilling program to delineate its resource base. The company conducts extensive QA/QC protocols and utilizes rigorous sampling procedures to ensure the geological data is reliable and repeatable. Among the drilling highlights are significant intersections with high-grade gold-equivalent values, which underscore the technical merit of the resource trends identified at properties such as Los Reyes. The company’s bi-modal strategy, which includes both open pit and underground mining scenarios, reflects its pragmatic approach to resource extraction in environments where mineralization remains open along strike and at depth.
Mining Methods and Operational Flexibility
The operational design of Prime Mining Corp is centered on adaptability. The company’s mining methodologies are selected on an area-by-area basis, allowing for a mixed approach that can transition fluidly between open pit and underground methods as dictated by geological, technical, and economic conditions. This dynamic mining strategy, supported by comprehensive technical studies and geotechnical assessments, affords the company the ability to optimize extraction methods while managing inherent risks associated with mining activities in challenging terrains.
Technical Analysis and Resource Confidence
Prime Mining Corp’s exploration program is underscored by a commitment to technical excellence and transparent resource definition. Detailed drilling campaigns have led to the expansion of known resource zones, with key focus areas including high-grade underground cores and expansive open pit targets. The company’s continuous technical de-risking programs, adherence to NI 43-101 standards, and collaboration with independent qualified persons provide confidence in the reliability of its resource estimates. Such rigor ensures that every assertion regarding resource potential is backed by thorough scientific and engineering assessments.
Geological Setting and Industry Context
Operating in Mexico’s prolific mining regions, Prime Mining Corp is situated within a geologically favorable environment characterized by low-sulfidation epithermal systems. The company’s properties are hosted within complex 'horsetail' structures that are amenable to diverse mining techniques. This geological framework not only supports the presence of significant gold and silver mineralization but also positions the company within a competitive landscape where continuous exploration drives value and operational expertise is essential.
Commitment to Quality and Future Exploration
Technical diligence is central to Prime Mining Corp’s operational ethos. The current phase involves extensive drilling at multiple target areas, with an emphasis on verifying the continuity of mineralization at depth and along strike. The company’s iterative approach to drilling and resource evaluation, coupled with ongoing QA/QC measures, underscores its commitment to building a robust, data-backed resource base. Although the content remains evergreen, the methods and strategic insights presented provide a clear picture of the company’s disciplined exploration approach, aimed at mitigating risks and enhancing understanding of its asset portfolio.
Competitive Position and Value Proposition
Prime Mining Corp is positioned within a competitive industry landscape that demands not only technical expertise but also innovative mining strategies. By capitalizing on both open pit and underground mining opportunities, the company demonstrates its operational flexibility and adaptability. This dual approach, along with rigorous technical validation and a clear focus on high-grade mineral zones, forms the backbone of its value proposition. Investors and industry observers can appreciate that every operational decision is underpinned by detailed technical analysis, ensuring that the company’s strategic initiatives are both robust and credible.
Conclusion
In summary, Prime Mining Corp embodies a disciplined and methodical approach to mineral exploration and mining. With a strong emphasis on technical excellence, operational flexibility, and detailed resource evaluation, the company stands out in a landscape defined by complex geology and high-grade mineral targets. The comprehensive exploration and mining programs reflect a commitment to quality and a deep understanding of the economic and technical nuances of the precious metals industry, ensuring that the company’s narrative remains informative and enduring for years to come.
Prime Mining Corp has reported new drilling results from its Los Reyes Project in Sinaloa State, Mexico. The company announced significant findings at the Fresnillo target, extending high-grade mineralization by approximately 120 metres up-dip from previous stopes. Key highlights include intersections of 1.99 g/t gold-equivalent over 9.6m, 2.83 g/t AuEq over 6.2m, and 1.46 g/t AuEq over 9.8m.
The Fresnillo target, first drilled in 2022, is located between the Z-T and Central Trends. The recent drilling results are expected to increase the Inferred Resources in future estimates. The company has also released results from eight holes at the Mariposa target, confirming the continuation of the Z-T structure.
Currently, drilling is suspended with six rigs on standby at Los Reyes. Prime's 2025 exploration will focus on extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and developing generative targets.
Prime Mining Corp. (PRMNF) has announced its 2025 outlook for the Los Reyes gold-silver project in Sinaloa, Mexico. The company plans a 40,000-metre drilling program focused on resource expansion and new discoveries. Key areas include extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, and increasing Central Area resources.
Drilling is temporarily suspended since January 28, 2025, due to security concerns in Sinaloa, though this is not expected to impact the overall 2025 program. The company has completed approximately 1,500 metres of drilling year to date.
Prime is well-funded with $19 million in cash (unaudited) as of December 31, 2024, plus approximately $19 million in in-the-money warrants and options, expected to fund operations through 2025 and into 2026. The company aims to complete a Preliminary Economic Assessment and continues technical de-risking activities.
Prime Mining Corp has reported significant expansion drilling results from its Los Reyes Project in Mexico. Key highlights from the Central Trend include high-grade intersections at Noche Buena, with notable results of 3.48 g/t gold-equivalent over 7.6m ETW in hole 24NB-78, 2.16 g/t AuEq over 11.3m ETW in hole 24NB-67, and 1.65 g/t AuEq over 11.2m ETW in hole 24NB-77.
The drilling has defined a new 400-meter long high-grade shoot at the southern end of Noche Buena, extending 210m and 300m along strike from the 2024 MRE pit crest and southernmost MRE stopes, respectively. The mineralization remains open at depth and along strike, suggesting potential for significant resource expansion.
The company currently has six drill rigs on site, focusing on extending high-grade shoots at Z-T Area, expanding mineralization at Guadalupe East, increasing Central Area resources, and exploring generative targets at Las Primas, Mariposa, and Fresnillo.
Prime Mining Corp (PRMNF) has reported significant expansion drilling results from its Los Reyes Project in Mexico, highlighting a new 'Tahonitas Footwall' discovery in the Z-T Trend. Notable intersections include 9.5 g/t gold-equivalent over 2.1 metres and 1.62 g/t gold-equivalent over 15.2 metres.
The newly discovered high-grade ore shoot at Tahonitas, defined over 260 metres by 140 metres, remains open along strike and at depth. The southern-most holes are located over 650 metres south of the Mineral Resource Estimate (MRE) pit crest and approximately 250 metres along strike from the southern-most stope. All highlighted intercepts are within 200 metres from surface, suggesting potential for both open pit and underground extraction.
The company currently has six drill rigs active on site, focusing on extending high-grade shoots at Z-T Area, expanding mineralization at Guadalupe East, increasing Central Area resources, and exploring generative targets.
Prime Mining Corp has reported expansion drilling results from its Los Reyes Project in Mexico, highlighting significant gold and silver intersections at the Guadalupe Trend. Key findings include an intersection of 42.07 g/t gold-equivalent (14.25 g/t Au and 2,150.0 g/t Ag) over 1.0 meters in hole 24GE-160, located over 400m from the main Guadalupe East resource area.
The company has expanded its fiscal 2024 drilling program to 50,000 metres from 40,000 metres, with five drill rigs currently active on site. The program focuses on extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and exploring generative targets at Las Primas, Mariposa, and Fresnillo.
Prime Mining Corp has filed an updated technical report for its Los Reyes gold-silver project in Mexico, highlighting significant resource growth. The 2024 Mineral Resource Estimate shows Indicated Resources increased 49% to 2.2 million gold-equivalent ounces, while Inferred Resources grew 11% to 0.8 million gold-equivalent ounces compared to May 2023.
The report includes new Underground Resources of 664,000 Indicated ounces and 406,000 Inferred ounces. Open-pit resources have also expanded, with Milled Indicated Resources growing 48% to 1.93 million gold-equivalent ounces. The company has expanded its 2024 drilling program to 50,000 metres from 40,000 metres, with five drill rigs currently active.
Prime Mining Corp reported Q3 2024 results, highlighting significant progress at its Los Reyes Gold-Silver Project. The company announced a major resource expansion with a 49% increase in Indicated Resources to 2.2 million gold-equivalent ounces and an 11% increase in Inferred Resources to 0.8 million gold-equivalent ounces. Notable drilling results include intersections of 9.39 g/t gold-equivalent over 10.5 metres at Tahonitas. The company expanded its 2024 drilling program to 50,000 metres from 40,000 metres, with four drill rigs currently active. Financial results show cash position of $21.2 million as of September 30, 2024.
Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) has reported a significant expansion in its 2024 Mineral Resource Estimate (MRE) for the Los Reyes Project in Mexico. Indicated Resources have increased 49% to 2.2 million gold-equivalent ounces (AuEq), while Inferred Resources have grown 11% to 0.8 million AuEq ozs. The update includes new high-grade underground resources, validating the company's strategy for a high-recovery, high-margin milling operation.
Key highlights include:
- Milled Indicated Resources grew 48% to 1.93 million AuEq ozs at 2.08 g/t AuEq
- Milled Inferred Resources increased 19% to 0.74 million AuEq ozs at 2.05 g/t AuEq
- The MRE is based on 240,172 metres of drilling, with Prime's discovery cost at just over $US 20 per Resource ounce added
- Significant upside potential remains as mineralization is open along strike and at depth
The updated MRE demonstrates the project's potential for both open-pit and underground mining operations, with ongoing exploration targeting further resource expansion.
Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) is aggressively expanding its gold and silver resources in Mexico. The company has made significant progress at its Los Reyes project:
1. In May 2023, Prime doubled their initial resource estimate for Los Reyes, based on drilling completed through 2022.
2. They are now targeting an additional 110,000 metres of drilling by the end of 2024.
3. Prime Mining is evaluating both open pit and underground mining approaches, which could provide greater operational flexibility and long-term growth potential.
The company's efforts are focused on a prolific mining region in Mexico, positioning them for potential future success in the precious metals sector.
Prime Mining Corp. (TSV: PRYM) (OTCQX: PRMNF) has appointed Sunny Lowe to its Board of Directors as an Independent Director. Ms. Lowe, currently the CFO of Solaris Resources Inc., brings over 20 years of finance, international tax, and risk management experience in the mining sector. Her previous roles include CFO at INV Metals and leadership positions at Kinross Gold and Inmet Mining
Murray John, Chair of the Board, expressed enthusiasm for Ms. Lowe's addition, citing her extensive financial, mining, and executive experience as valuable assets for advancing the Los Reyes Project. The Company has granted Ms. Lowe 88,415 deferred share units (DSUs) at a 5-day volume weighted average price of $1.64, effective September 25, 2024.
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