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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. reports positive results from 20 new drill holes at the Zapote South deposit, part of its Los Reyes project in Mexico. The highlights include grades such as 2.38 gpt gold and 43.4 gpt silver over significant intervals. CEO Daniel Kunz noted expanding high-grade mineralization and successful drilling depth increases. Currently, nine drill rigs are operational and have completed 30,000 meters of the planned 50,000-meter Phase 2 program. Recent drilling has extended mineralization to over 300 meters below surface, indicating strong potential for further resource expansion.
Prime Mining Corp. has reported positive results from drill hole 22GE-33 at the Los Reyes gold-silver project in Sinaloa, Mexico. The hole intersected 41.6 meters of mineralization, including notable grades of 11.60 gpt gold and 219.0 gpt silver over a 1.5 m interval. Additional drilling is ongoing, with eight rigs testing multiple veins. CEO Daniel Kunz emphasized the significance of these results, indicating that previous mining operations did not deplete the major mineralization. The company continues a 50,000-meter Phase 2 exploration program, with 15 holes pending assay results.
Prime Mining Corp. has announced encouraging results from its first drill program at the Guadalupe West deposit, part of the Los Reyes project in Sinaloa, Mexico. Twelve drill holes have been reported, revealing significant gold and silver mineralization, with notable intercepts including 1.68 grams per tonne (gpt) gold and 25.8 gpt silver over 22.9 metres. The Phase 2 drilling program aims to further explore this and the adjacent Guadalupe East deposit, with a total of 50,000 metres planned. The project demonstrates potential for open-pit mining and resource expansion.
Prime Mining Corp. reports significant drilling results from its Los Reyes gold-silver project in Sinaloa, Mexico, expanding known mineralized structures. Seventeen new core holes confirmed continuity of mineralization along the Zapote-Tahonitas structure, extending it by 450 meters to 3.0 kilometers. Key intercepts include up to 4.89 gpt gold and 22.2 gpt silver over 35.3 meters. The ongoing Phase 2 drilling program aims to drill 50,000 meters, with 21,530 meters already completed.
Prime Mining Corp. announced new drill results from its Los Reyes gold-silver project in Sinaloa, Mexico, including 13 new core holes at Noche Buena, revealing economic open-pit grade mineralization. This project is part of a $18 million Phase 2 exploration program, with over 50,000 meters planned to expand resources and discover new deposits. Previous drilling has identified mineralization along a 600-meter segment of a 1,000-meter strike length. The results affirm the potential for significant resource expansion, with assays pending for 40 drill holes due to backlog issues.
Prime Mining Corp. has announced its Q2 fiscal 2022 results for the period ending October 31, 2021. The company reported a loss of $5.6 million compared to a loss of $2.55 million in the same quarter last year. Despite the financial losses, Prime successfully raised $9.52 million from the exercise of warrants and appointed experienced new executives to strengthen its leadership. The ongoing exploration at the Los Reyes project is promising, with a new Phase 2 drill program planned to commence shortly, aiming for 50,000 meters of drilling.
Prime Mining Corp. has initiated Phase 2 drilling at its Los Reyes gold-silver project in Mexico, aiming for over 50,000 meters across 250 drill holes. This phase targets resource expansion along three main corridors: Guadalupe Structure, Zapote-Tahonitas Structure, and Central Zone Structure. Notable achievements from Phase 1 include multiple high-grade discoveries and significant geological insights. The company anticipates additional discoveries as only 40% of the known structures have been explored, highlighting the project's substantial growth potential.
Prime Mining Corp. has announced positive results from Phase 1 drilling at its Los Reyes gold-silver project in Mexico. Key findings include significant drill intercepts, such as 6.12 gpt gold and 61.8 gpt silver over 18.4 meters from Zapote South. The drill program has deepened the potential boiling zone height, revealing new high-grade mineralization opportunities. The company plans to expand drilling efforts as it prepares for Phase 2, which will include additional rigs to enhance resource expansion at both Zapote South and Tahonitas deposits.
Prime Mining Corp. announced key management appointments, welcoming Edie Hofmeister to the board and Scott Smith as Executive Vice President - Exploration, effective October 1, 2021. This follows a transition for Kerry Sparkes, who will serve as a technical advisor, thereby maintaining his strategic input. The company reported robust exploration developments at the Los Reyes project, with significant drilling results, cash exceeding $31.9 million, and a decrease in comprehensive losses from the previous year, though losses for Q1 2022 reached $4.04 million.
Prime Mining Corp. announces positive Phase 1 drill results from its Los Reyes gold-silver project in Mexico. Key highlights include remarkable intercepts from the Estaca vein, with gold grades up to 35.37 gpt and silver up to 1,626.0 gpt over significant widths. CEO Daniel Kunz noted potential for resource expansion beyond the current April 2020 estimates, with the total strike length of the vein system now at 1,000 metres. The company is preparing to commence an expanded Phase 2 drilling program in November 2021 to further explore and define these high-grade areas.
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