Prime Mining Reports Impressive Gold Results at Guadalupe East

Outstanding Drilling Results from Prime Mining at Guadalupe

Prime Mining Corp. (TSX: PRYM, OTCQX: PRMNF, Frankfurt: O4V3) is making headlines with its latest drilling updates from the Los Reyes Project in Mexico. The results highlight significant advancements in their exploration efforts, particularly at the Guadalupe East site. The drilling results come from a series of core holes that have showcased exceptional grades of gold and silver.

Insightful Expansion Drilling at Guadalupe East

In a recent drilling campaign, Prime reported exciting results from four core holes dug at Guadalupe East, which is situated at the southeastern end of the Guadalupe Trend. One noteworthy intersection revealed an astonishing 42.07 grams per tonne (g/t) gold equivalent over a meter noted from drill hole 24GE-160. The breakdown revealed 14.25 g/t of gold and over 2,150 g/t of silver—figures that demonstrate the high mineralization potential in this area.

Significant Results from Recent Drill Holes

Drill hole 24GE-160 stood out not only for its high gold content but also for its impressive silver value. To add to the excitement, drill hole 24GE-162 recorded a gold equivalent of 5.32 g/t over 2.4 meters, including standout sections within the drill length. These results have the potential to lead to further discoveries, as Prime Mining focuses on the sparsely drilled areas between the main Laija zone and the Echeguren Shaft.

Comments from Leadership

Prime Mining's CEO, Scott Hicks, expressed enthusiasm about the results, noting that the holes drilled have highlighted the strong mineralization capabilities at Guadalupe East. “We continue to find mineralization in this underexplored gap, which opens up great prospects for further resource expansion,” he mentioned. Similarly, Scott Smith, the Executive Vice President of Exploration, emphasized that these results corroborate the exploration strategy and the significant potential for future discoveries.

Potential for Future Expansion

The recent drilling efforts have not only confirmed existing mineralization but also opened new avenues for exploration. The historical mine workings, including those near the Echeguren Shaft, provide clues for more drilling targets paving the way for further assessments of the resource base at Los Reyes.

Future Drilling Plans and Objectives

Building on these successful results, Prime Mining has ramped up its drilling program for 2024 to a total of 50,000 meters, an increase from the previously planned 40,000 meters. The expanded drilling efforts will focus on key areas including:

• Deepening the exploration of high-grade zones in the Z-T Area.
• Broadening the known high-grade mineralization at Guadalupe East.
• Augmenting resources in the Central Area through additional drilling.
• Conducting generative drilling to explore high-grade targets across various identified areas.

About the Los Reyes Project

The Los Reyes Project, amid expanding exploration, has already showcased potential for indicating a multi-million-ounce resource base of high-grade gold and silver. Since acquiring the project, Prime has significantly invested in exploration, accumulating over 210,000 meters of drilling. The strategy involves a systematic approach to identifying new areas for resource growth.

Commitment to Quality and Standards

Prime Mining is dedicated to robust quality assurance and control measures in its exploration processes. They utilize certified reference materials and a comprehensive sampling procedure for accurate results. Each sample undergoes rigorous testing and validation at accredited laboratories, ensuring high standards in results and reporting.

Frequently Asked Questions

What are the latest drilling results at Prime Mining's Los Reyes Project?

Prime Mining recently reported high gold and silver grades at the Guadalupe East site, indicating significant mineralization potential.

How much has Prime Mining increased its drilling program for 2024?

The company has expanded its drilling program to 50,000 meters for 2024 to focus on maximizing exploration potential.

What are the standout grades from the recent drill holes?

One notable result includes 42.07 g/t gold equivalent over one meter in drill hole 24GE-160, highlighting exceptional mineralization.

Who is leading Prime Mining's exploration efforts?

Scott Hicks serves as CEO and Scott Smith is the Executive Vice President of Exploration, both driving the company's exploration strategy.

Where is the Los Reyes Project located?

The Los Reyes Project is located in Sinaloa State, Mexico, and is known for hosting high-grade gold and silver resources.

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