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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. (PRMNF) announced the exercise of 19,040,256 common share purchase warrants, generating gross proceeds of C$9.52 million and boosting its cash position to over C$31.9 million. The company is actively preparing for an extended drilling campaign at its Los Reyes project, having completed 4,537 metres in the Phase 1 program, with a third drill contractor engaged. The Los Reyes project holds substantial resource expansion potential, supported by a recent resource estimate showing 633,000 ounces of gold and 16.6 million ounces of silver.
Prime Mining Corp. reported its Q4 fiscal results for 2021, ending April 30. The Company saw a loss of C$3,324,739 compared to a loss of C$6,852,493 in Q4 2020. Cash reserves increased significantly to C$32,026,806 from C$1,020,820 year-over-year. Notable exploration achievements included expanding the Los Reyes project land position and promising drill results, with significant gold-silver intersections reported. Prime aims to enhance resource expansion, with 19.8 million tonnes of measured and indicated resources containing 633,000 ounces of gold.
Prime Mining Corp. reported promising core drilling results at the San Miguel East deposit in Mexico. Key findings include expanded mineralized zones and the new Fresnillo structure, enhancing the potential of the open-pit resource. Significant intersections include 2.50 gpt gold and 117.9 gpt silver over 8.3 meters. Drill results from the new Las Primas target show initial promising mineralization. The company plans a Phase 2 drilling campaign starting November 2021 to further explore these areas, aiming to improve resource estimates and reduce waste rock stripping ratios.
Prime Mining Corp. has reported new drill results from the Noche Buena deposit at its Los Reyes project in Mexico. The results from seven additional drill holes confirm an expansion of mineralization, with highlights including 1.29 gpt Au and 60.7 gpt Ag over 36.1 m in drill hole 21NB-06. The deposit is open at depth and along strike, with a current resource estimate indicating strong potential for further growth. A Phase 2 drilling campaign is expected to start in November, enhancing resource exploration and development efforts.
Prime Mining Corp. announced significant drilling results from its ongoing program at the Los Reyes gold-silver project. The first holes at the new discovery, Mina 20/21, yielded impressive grades, including 4.44 gpt gold and 1,060.1 gpt silver over 7.5 m in drill hole 21Mina-02. The company has completed 15,061 m of Phase 1 drilling and is moving into a 30,000 m Phase 2 program. Additionally, a final payment of US$1 million was made to complete the acquisition of Los Reyes, enhancing the project’s potential for resource expansion.
Prime Mining Corp. has enhanced its Los Reyes gold-silver project in Mexico by adding a seventh drill rig to expedite its ongoing 15,000-metre Phase 1 drill program.
Recent assays revealed significant intercepts at Guadalupe East and Zapote South deposits, such as 58.0 metres at 8.12 gpt gold and 724.6 gpt silver. Historical intersections suggest resource expansion potential.
Management additions include a new project manager and corporate secretary, enhancing operational capabilities.
Prime Mining Corp. announced positive results from its ongoing 15,000-metre Phase 1 drill program at the Los Reyes gold-silver project in Mexico. The drilling includes three deposits: Zapote-South, Noche Buena, and San Miguel East. Key highlights feature drill hole 21ZAP-04, which intersected 4.5 m at 8.95 gpt gold and 74.5 gpt silver. The results expand the known mineralization and enhance resource confidence. The initial assays show promising gold and silver grades, indicating potential improvement in project economics. The program aims to understand mineralization controls and upgrade resource classifications.
Prime Mining Corp. has reported its Q3 2021 financial results, showing a comprehensive loss of C$1.05 million, an increase from C$0.85 million in Q3 2020. The company maintains a solid cash position with C$5.84 million. Significant exploration activities continue at the Los Reyes Gold-Silver Project, with a 15,000 m drilling program initiated and new high-grade mineralization identified. The company is progressing on its exploration and development plans, including expanding its land package to over 13,800 hectares.
Prime Mining Corp. reported initial results from its 15,000 m Phase 1 diamond drilling program at the Los Reyes project in Mexico. Noteworthy findings include drill hole 21GE-01, which intersected 20.1 m at 3.25 gpt Au and 380 gpt Ag. Additionally, new surface sampling at Mina 20/21 revealed high-grade mineralization, 1.3 km northeast of Guadalupe East, with results like 2.3 m at 29.8 gpt Au and 1,132 gpt Ag. The exploration has potential for significant resource expansion, given the historic and untested mining areas. Current resources stand at 19.8 mt containing 633,000 ounces of gold.
On March 10, 2021, Prime Mining Corp. announced the filing of an application for mineral rights to a 7,500-hectare claim block named El Rey, adjacent to Los Reyes. This application was officially receipted on March 9, 2021. CEO Daniel Kunz highlighted the potential of the area based on recent prospecting and drilling results, indicating a vertical height of at least 500 meters for the mineralized system. The company has also initiated a helicopter-borne aeromagnetic survey and is progressing with its drilling program, having completed fifteen core holes.
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