From GlobeNewswire.: 2024-05-13 18:15:00

Prime Mining Corp. reported strong operating and financial results for Q1 2023, with a focus on its high-grade Los Reyes Gold-Silver Project in Mexico, led by CEO Scott Hicks. Key highlights include a planned 40,000m drill program, exploration success at Las Primas and Guadalupe East, and impressive expansion drilling results at Z-T.

Exploration highlights for the quarter include high-grade intercepts at Las Primas and record high grades at Guadalupe East, showcasing the potential for resource expansion. Prime’s drilling efforts at Z-T revealed a new high-grade mineralized zone beyond the current resource pit, with significant mineralization expansion at depth.

Further drilling results from 2023 showed strong gold grades at various sites, including Mariposa, Guadalupe East, Orito Sur, and Mina. The company continues to discover high-grade mineralization, most recently at Z-T, where a new high-grade shoot containing 7.68 g/t gold-equivalent over 7.7m was found.

Maintaining health and safety protocols, Prime remains diligent in monitoring general health conditions for employees and contractors while actively engaging with local stakeholders. The company continues its environmental stewardship efforts and community engagement programs, with an emphasis on sustainability and positive impact on host communities.

In terms of financials, Prime reported a loss of $6,450,142 for Q1 2024, compared to $5,995,467 for the same period in 2023. The company’s cash position stood at $27,897,697 as of March 31, 2024, and total assets were reported at $41,969,945.

Looking ahead, Prime targets 40,000 meters in its 2024 drill program, prioritizing targets for resource development and generative area discovery potential. With four drill rigs active on site at Los Reyes, the focus is on extending high-grade shoots at Z-T, expanding mineralization at Guadalupe East, and increasing the Central Area resource through further drilling efforts.



Read more at GlobeNewswire.:: Prime Mining Q1 2024 Financial and Operating Results