Prime Mining Corp Expands Target at Los Reyes Project
Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3) has announced exciting new developments stemming from their Los Reyes Project. The Project, located in Sinaloa State, Mexico, is making headlines with impressive results from the generative drilling program conducted recently.
Significant Generative Drilling Results
The latest drilling results, initially collected in 2024 at the Fresnillo and Mariposa targets, reflect strong mineralization patterns that were not part of the Company’s earlier Mineral Resource Estimate. Among the noteworthy highlights, the core drilling program has successfully confirmed high-grade mineral intersections against a backdrop of robust geological assessments.
Fresnillo Target Insights
The Fresnillo target is generating significant interest as Prime reveals its original discovery. During the recent drilling operations, Prime reported a total of 14 core holes. This included several that uniquely intersected the Fresnillo structures, while others contributed to understanding the correlations between the Noche Buena and Fresnillo structures.
Key findings include:
- 1.99 g/t gold-equivalent (1.82 g/t Au and 13.1 g/t Ag) over 9.6 m estimated true width in hole 24NB-75, with a standout measure of 20.02 g/t AuEq (18.4 g/t Au and 125.0 g/t Ag) within a 0.8 m segment.
- 2.83 g/t AuEq (2.52 g/t Au and 23.6 g/t Ag) across 6.2 m ETW in hole 24NB-71.
- 1.46 g/t AuEq over 9.8 m ETW in hole 24NB-69 included impressive values of 6.76 g/t AuEq.
- Additionally, 1.45 g/t AuEq (1.17 g/t Au and 21.6 g/t Ag) was recorded in hole 24FRE-29.
Strategic Comments from Leadership
CEO Scott Hicks expressed considerable enthusiasm regarding the significant 120-metre extension of high-grade, near-surface mineralization. He emphasized that these findings enhance both the open pit and underground development potentials at Fresnillo.
Moreover, Scott Smith, Executive Vice President of Exploration, highlighted the importance of drill holes 24NB-69, -70, -71, and -75, which strategically span areas previously viewed as under-drilled. The results will likely contribute to an increase in reportable inferred ounces in future estimates.
Mariposa Target Developments
Prime is also turning its attention to the Mariposa target. The drilling in this area has aimed to enhance the understanding of the existing structural setting, albeit with limited access impacting drill pad locations. The ongoing analysis suggests a defined continuation of the Z-T structure within Mariposa.
Looking ahead, the Company is set to expand access and further the exploratory drilling efforts as part of the 2025 agenda.
Future Directions and Outlook
Prime Mining remains committed to advancing its drilling plans based on past successes and expected future developments at Los Reyes. With about 1,500 metres of drilling completed this year alone, exploration efforts will focus on high-grade structures, seeking to expand existing resources.
- Priority will be given to extending high-grade Z-T Area shoots.
- Efforts to increase the known high-grade mineralization at Guadalupe East will be intensified.
- Targets for Central Area resource growth will include additional drilling at Noche Buena and its connection to San Miguel East.
- Additional generative target drilling at Las Primas, Mariposa, and Fresnillo aims to enhance resource potential.
Exploration Insights
Drilling at Los Reyes employs a variety of innovative techniques aimed at optimizing mineral recovery. With enhanced sampling and analysis methods leading the charge, Prime Mining is poised to make robust contributions to the mining sector through its Los Reyes Project.
Frequently Asked Questions
What is the Los Reyes Project?
The Los Reyes Project is a high-grade, low-sulphidation epithermal gold-silver mining project located in Sinaloa, Mexico.
What recent results were reported by Prime Mining?
Prime Mining reported significant generative drilling results, notably at the Fresnillo and Mariposa targets, with high-grade intervals encountered.
What are the implications of the recent drilling results?
The results suggest a significant extension of high-grade mineralization and an increase in reportable inferred ounces for Prime Mining’s future estimates.
Who is leading the exploration at Prime Mining?
Scott Smith serves as the Executive Vice President of Exploration, overseeing the strategic direction of the company’s exploration efforts.
How does Prime Mining plan to advance the project in 2025?
Prime Mining plans to evaluate and prioritize drilling based on resource development probability, focusing on areas with high potential for new discoveries.
