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.
PRIME MINING CORP (PRMNF) is a mining company focused on exploration and development projects in Mexico. The company's core business involves identifying and developing high-grade gold deposits with significant growth potential. With multiple active drill rigs at the Los Reyes site, PRIME MINING CORP aims to expand its mineral resources and advance its exploration activities to maximize shareholder value. PRIME MINING CORP is committed to maintaining the highest standards of safety, environmental stewardship, and community engagement in all its operations.
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.
Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) reports expansion drilling results from the Los Reyes Project in Mexico. Highlights include:
- 9.39 gpt AuEq over 10.5m etw in hole 24TA-139
- 4.55 gpt AuEq over 4.1m etw in hole 24TA-138
- 2.95 gpt AuEq over 4.1m etw in hole 24TA-135
The results demonstrate continuity of high-grade gold and silver down dip and within previous drilling gaps, supporting potential underground mining. The Z-T structure remains mineralized for over 500m along strike from the current south-east pit crest. Prime has expanded its 2024 drilling program to 50,000m from 40,000m due to success-based results.
Prime Mining Corp. (TSV: PRYM) (OTCQX: PRMNF) reported its Q2 2024 financial and operating results, focusing on the exploration and development of its Los Reyes Gold-Silver Project in Mexico. Key highlights include:
1. Discovery of a new high-grade shoot at the Z-T Trend, yielding 7.68 gpt gold-equivalent over 7.7 metres.
2. Impressive drilling results at Las Primas, including 11.8 gpt gold-equivalent over 3.0 metres.
3. Expansion of the 2024 drilling budget to 50,000 metres from 40,000 metres due to successful results.
4. Financial results show a loss of $11,935,978 for the six months ended June 30, 2024, with cash reserves of $24,524,731.
5. Ongoing focus on technical derisking, environmental stewardship, and community engagement.
Prime Mining Corp. reported expansion drilling results from its Los Reyes Project in Sinaloa State, Mexico. These results, from 2024 drilling at the Z-T Trend, are not included in the May 2023 Mineral Resource Estimate. Highlights include 6.93 gpt gold-equivalent over 2.0m in hole 24TA-117, and 1.51 gpt gold-equivalent over 14.2m in hole 24TA-119. The drilling program aims to expand the high-grade Z-T Trend and validate mineralization continuity at depth. The company has completed about 28,000m of its 40,000m 2024 drill program. Four drill rigs are currently active, focusing on extending high-grade shoots, expanding known mineralization, and generative target drilling. The results suggest potential pit expansion and high-margin underground resource development.
Prime Mining Corp. (TSX: PRYM, OTCQX: PRMNF, Frankfurt: 04V3) held its Annual General and Special Meeting on June 19, 2024. Shareholders approved all matters and elected all listed directors.
The company focuses on the Los Reyes Gold-Silver Project in Sinaloa, Mexico. Notable achievements include a cash balance of C$28 million as of March 31, 2024, and significant high-grade gold and silver discoveries.
Voting results: 68.955% of common shares represented. Key approvals: setting the number of directors to eight, appointing Davidson & Company LLP as auditors, amending articles, adopting a majority voting policy, and approving a new omnibus incentive plan.
For 2024, Prime Mining is advancing its drilling program, targeting high-grade extensions and new resource developments.
FAQ
What is the current stock price of PRIME MINING (PRMNF)?
What is the market cap of PRIME MINING (PRMNF)?
What is PRIME MINING CORP's main focus?
How many active drill rigs does PRIME MINING CORP currently have?
What is PRIME MINING CORP's commitment to sustainability?
What are the key goals of PRIME MINING CORP's exploration activities?
Where can I find more information about PRIME MINING CORP's exploration projects?
What sets PRIME MINING CORP apart from other mining companies?
What regions does PRIME MINING CORP operate in?
How does PRIME MINING CORP ensure community engagement in its operations?
What are the core values of PRIME MINING CORP?
What is the long-term vision of PRIME MINING CORP?
