Prime Mining Corp. (TSX: PRYM | OTCQX: PRMNF | Frankfurt: 04V3) has summarized its 2023 drill programme from its wholly owned high-grade Los Reyes Gold-Silver Project in Sinaloa State, Mexico.
Scott Hicks, CEO of Prime, commented, “2023 was a standout year for Prime. In addition to other corporate and technical achievements, we effectively doubled the gold-equivalent resource ounces at our high-grade Los Reyes Project with drilling up to our December 2022 resource drilling cutoff.”
Prime’s advanced project investigations included a mineral resource estimate, outlining a 1.47M indicated AuEq oz at 1.68g/t average grade, comprised of 1Moz Au at 1.16g/t and 35Moz of Ag at 31.5g/t. The MRE also outlined a 0.73Moz inferred AuEq at a 1.26g/t average grade, comprised of 0.5Moz Au at 0.85g/t and 18.4Moz of Ag at 31.5g/t.
The company also completed over 58,000m of drilling over 184 holes following success based exploration programme. 162 holes intercepted mineralization above approximately 0.2g/t Au cut off.
Last year, Prime appointed Indi Gopinathan as VP Capital Markets and Business Development, and Kerry Sparkes as advisor to the board of directors. An internal management transition was completed in late 2023, culminating in January 2024 with the appointment of Scott Hicks as CEO.
The company ended the year in a strong financial position and held approximately C$33M in cash at December 31, following receipt of C$28M from a successful warrant acceleration programme in May.
Additionally, Prime released its inaugural ESG report in April, and participated in social and community engagement activities. The company graduated from the TSXV to the TSX main board.
To find out more, please visit www.primeminingcorp.ca
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