Positive operating and financial results for Q2 2024 at Prime Mining Corp in Mexico

From GlobeNewswire: 2024-08-12 23:00:00

Prime Mining Corp. reported positive operating and financial results for Q2 2024, focusing on exploration at its Los Reyes Gold-Silver Project in Mexico. Key highlights include the discovery of a new high-grade shoot and extension of high-grade mineralization. Prime plans to expand its 2024 drilling budget to 50,000 meters to further explore and develop the project.

During Q2, Prime’s expansion drilling at the Z-T Trend uncovered a new high-grade shoot containing 7.68 gpt gold-equivalent over 7.7 meters. Additionally, generative drilling at Las Primas revealed an impressive 11.8 gpt gold-equivalent over 3.0 meters. The company’s success-based drilling program is showing promising results, leading to an increase in drilling budget and continued exploration efforts.

Prime Mining Corp. also reported positive results from its exploration at Guadalupe East, with highlights including 6.9 gpt gold-equivalent over 3.5 meters, 12.65 gpt AuEq over 1.1 meters, and 54.41 gpt AuEq over 0.70 meters. The company remains committed to technical derisking, maintaining health and safety protocols, and engaging with local stakeholders for environmental stewardship.

With a focus on sustainability and community engagement, Prime Mining Corp. released its second annual sustainability report in May 2024. The company aims to minimize its environmental footprint, have a positive impact on host communities, and meet its commitments regarding sustainability and environmental stewardship. Financial highlights for the six months ending June 30, 2024, show a loss of $11,935,978 and a cash balance of $24,524,731.

Looking ahead, Prime plans to continue exploration at Los Reyes by extending high-grade shoots, expanding mineralization at Guadalupe East, increasing the Central Area resource, and drilling generative targets. The project has shown potential for new discoveries, with historic results indicating significant gold and silver recovery. Los Reyes is a rapidly evolving high-grade gold-silver project in Mexico, with ongoing drilling activities suggesting larger deposit areas and exploration potential beyond current resource estimates.



Read more at GlobeNewswire:: Prime Mining Q2 2024 Financial and Operating Results