Prime Mining Corp. (TSXV: PRYM | OTCQX: PRMNF | Frankfurt: 04V3) has reported drill results from its ongoing 60,000m drill programme, of which about half is focused on regional exploration at Los Reyes. These results are from the Las Primas and Fresnillo generative targets at the company’s Los Reyes Project in Sinaloa State, Mexico.
Newly discovered Las Primas mineralization outside of the previously reported 2023 mineral resource estimate (MRE) contains high-grades and significant thicknesses in areas located between the Central and Guadalupe Zones.
“Today’s results demonstrate the growing potential of our gold-silver exploration targets outside of the current mineral resource zones,” commented Prime CEO Daniel Kunz.
“New mineralized areas like these are expected to contribute to our goal of continued expansion of the Los Reyes gold-silver resource. As Las Primas and Fresnillo are proximal to existing resource zones, we anticipate incremental value-add from these nearby generative targets.”
The precious metals mineralization is in high-grade plunging shoots like Guadalupe, Tahonitas, and the Nocha Buena areas. At Las Primas, mapping and 2023 drilling has confirmed continuity of at least two mineralized structural corridors that remain open in all directions.
Fresnillo is a highly prospective earlier stage target, where drilling intercepted thick mineralized structures, between the Z-T and Central Zones. Follow-up drilling is planned to continue. Surface mapping and modelling of these structures is ongoing.
The company reported 12 core holes at the Las Primas target. Las Primas is in the southeast of the project area between the Central and Guadalupe Zones. Highlights included:
- Hole 23LP-14: 12.34g/t Au Eq (10.85g/t Au and 114.9g/t Ag) over 2.5m estimated true width (etw) including:
- 17.50g/t Au Eq (15.40g/t Au and 162.2g/t Ag) over 1.7m etw
- Hole 23LP-06: 1.73g/t Au Eq (1.70g/t Au and 2.3g/t Ag) over 9.6m etw including:
- 4.94g/t Au Eq (4.88g/t Au and 4.7g/t Ag) over 3.0m etw
- Hole 23LP-07: 1.20g/t Au Eq (0.87g/t Au and 25.8g/t Ag) over 14.6m etw, just below surface
The company reported 11 core holes at the Fresnillo target, located between the south ends of the Z-T and Central Zones. Highlights included:
- Hole 23FRE-12: 0.74g/t Au Eq (0.56g/t Au and 14.3g/t Ag) over 23.8m etw, and 0.48g/t Au Eq (0.41g/t Au and 5.3g/t Ag) over 20.8 m
- Hole 23FRE-19: 1.65g/t Au Eq (1.06g/t Au and 45.2g/t Ag) over 10.9m etw including:
- 12.30g/t Au Eq (6.63g/t Au and 438.0g/t Ag) over 0.85m etw
- Hole 23FRE-20: 1.39g/t Au Eq (0.87g/t Au and 40.4g/t Ag) over 7.5m etw
