- Prime Mining Corp. (PRYM) found high-grade gold and silver during its phase two drilling on the Guadalupe area of the Los Reyes Project in Mexico
- Four intercepts highlighted the consistency of high grades of mineralization
- One intercept had 27.90 grams of gold per tonne and 509 grams of silver per tonne over 2.30 metres in hole 22GE-101
- Also identified were multiple new high-grade mineralized intercepts along the Estaca Vein
- Prime Mining Corp. (PRYM) is down 4.72 per cent, trading at $1.21 per share as of 1:25 p.m. ET
Prime Mining (PRYM) found high-grade gold and silver during drilling on the Guadalupe area of the Los Reyes Project in Mexico.
Four intercepts highlighted the consistency of high grades of mineralization. One of these intercepts even had a value as high as 27.90 grams of gold per tonne and 509 grams of silver per tonne over 2.30 metres in hole 22GE-101.
Prime Mining CEO, Daniel Kunz, commented,
“The high-grade drill results reported today continue to confirm and expand the resource potential at Guadalupe by several hundred metres… Multiple wide, high-grade gold and silver mineralized intercepts outside the current Guadalupe resource are expected to significantly increase the Los Reyes mineral resource update planned for the first half of 2023.”
Also identified were multiple new high-grade mineralized intercepts along the Estaca Vein, just below the defined 2020 pit-constrained resource.
“Continued drilling and definition of the newly intercepted vein splays in the hanging wall outside of the main Estaca Vein should also enhance pit economics by lowering the overall strip ratio, converting what was previously considered waste blocks into ore, and contributing new high-grade, high-margin ounces,” Kunz said.
Drilling also defined new areas of mineralization inside the known resource in an area which was previously classified as waste.
Prime Mining Corp. (PRYM) is down 4.72 per cent, trading at $1.21 per share as of 1:25 p.m. ET.