Welcome to our dedicated page for Prime Mining news (Ticker: PRMNF), a resource for investors and traders seeking the latest updates and insights on Prime Mining stock.
Prime Mining Corp. (PRMNF) generated news primarily around the exploration and development of its Los Reyes gold-silver project in Sinaloa State, Mexico and, later, its acquisition by Torex Gold Resources Inc. This page provides a historical news archive for Prime Mining, covering the period when it operated as an independent gold ore mining and exploration company and was listed on the Toronto Stock Exchange, OTCQX and Frankfurt Stock Exchange.
Earlier news items focus on technical and corporate milestones at Los Reyes. These include updates on drilling and geological interpretation across the Guadalupe, Central and Z-T deposit areas, resource estimate announcements prepared under CIM and NI 43-101 standards, and the selection of Ausenco Engineering Canada ULC to lead a Preliminary Economic Assessment (PEA) on the project. Releases also describe Prime Mining’s exploration strategy, QA/QC protocols, and its work with technical consultants on metallurgical, geotechnical and mine planning studies.
Other recurring themes in the news flow include corporate developments such as warrant exercises, annual general meeting voting results, and the publication of sustainability and ESG reports. The company also reported on community engagement initiatives with local ejidos and the status of drilling operations, including a pause in drilling in response to security conditions in parts of Sinaloa.
Later news is dominated by the plan of arrangement with Torex Gold Resources Inc., securityholder approvals, court orders, regulatory clearances and, ultimately, the completion of the transaction under which Torex acquired all Prime shares. Following this transaction, Prime shares were expected to be delisted and Prime to apply to cease to be a reporting issuer. Investors and researchers can use this news archive to understand the historical evolution of Prime Mining, the technical narrative around Los Reyes and the steps that led to its acquisition.
Prime Mining Corp. announced significant drilling results from its ongoing program at the Los Reyes gold-silver project. The first holes at the new discovery, Mina 20/21, yielded impressive grades, including 4.44 gpt gold and 1,060.1 gpt silver over 7.5 m in drill hole 21Mina-02. The company has completed 15,061 m of Phase 1 drilling and is moving into a 30,000 m Phase 2 program. Additionally, a final payment of US$1 million was made to complete the acquisition of Los Reyes, enhancing the project’s potential for resource expansion.
Prime Mining Corp. has enhanced its Los Reyes gold-silver project in Mexico by adding a seventh drill rig to expedite its ongoing 15,000-metre Phase 1 drill program.
Recent assays revealed significant intercepts at Guadalupe East and Zapote South deposits, such as 58.0 metres at 8.12 gpt gold and 724.6 gpt silver. Historical intersections suggest resource expansion potential.
Management additions include a new project manager and corporate secretary, enhancing operational capabilities.
Prime Mining Corp. announced positive results from its ongoing 15,000-metre Phase 1 drill program at the Los Reyes gold-silver project in Mexico. The drilling includes three deposits: Zapote-South, Noche Buena, and San Miguel East. Key highlights feature drill hole 21ZAP-04, which intersected 4.5 m at 8.95 gpt gold and 74.5 gpt silver. The results expand the known mineralization and enhance resource confidence. The initial assays show promising gold and silver grades, indicating potential improvement in project economics. The program aims to understand mineralization controls and upgrade resource classifications.
Prime Mining Corp. has reported its Q3 2021 financial results, showing a comprehensive loss of C$1.05 million, an increase from C$0.85 million in Q3 2020. The company maintains a solid cash position with C$5.84 million. Significant exploration activities continue at the Los Reyes Gold-Silver Project, with a 15,000 m drilling program initiated and new high-grade mineralization identified. The company is progressing on its exploration and development plans, including expanding its land package to over 13,800 hectares.
Prime Mining Corp. reported initial results from its 15,000 m Phase 1 diamond drilling program at the Los Reyes project in Mexico. Noteworthy findings include drill hole 21GE-01, which intersected 20.1 m at 3.25 gpt Au and 380 gpt Ag. Additionally, new surface sampling at Mina 20/21 revealed high-grade mineralization, 1.3 km northeast of Guadalupe East, with results like 2.3 m at 29.8 gpt Au and 1,132 gpt Ag. The exploration has potential for significant resource expansion, given the historic and untested mining areas. Current resources stand at 19.8 mt containing 633,000 ounces of gold.
On March 10, 2021, Prime Mining Corp. announced the filing of an application for mineral rights to a 7,500-hectare claim block named El Rey, adjacent to Los Reyes. This application was officially receipted on March 9, 2021. CEO Daniel Kunz highlighted the potential of the area based on recent prospecting and drilling results, indicating a vertical height of at least 500 meters for the mineralized system. The company has also initiated a helicopter-borne aeromagnetic survey and is progressing with its drilling program, having completed fifteen core holes.
Prime Mining Corp. has provided a drilling update for its Los Reyes Gold-Silver Project in Sinaloa, Mexico. The Phase 1 diamond drill program began in December, with a goal to complete drilling before the rainy season starts in mid-August. The company increased its drill rig count to five to compensate for initial delays. As of now, ten core holes have been completed, with ongoing drilling at various deposits including Zapote South and Noche Buena. The company is well-funded with a cash balance of C$6M and potential additional funding from warrant exercises. Quality control measures for sampling are in place.
Prime Mining Corp. has been recognized in the 2021 TSX Venture 50, a ranking of top performing companies across five sectors, including Mining. The selection was based on market capitalization growth, share price appreciation, and trading volume for the year ending December 31, 2020. The company highlighted advancements in its Los Reyes gold-silver project in Mexico, which has significant resource potential with 633,000 ounces of gold and 16.6 million ounces of silver. This recognition underscores the company's growth and strategic positioning within the mining sector.
Prime Mining Corp. has appointed Kerry Sparkes as Executive Vice President-Exploration, effective October 1, 2020, replacing Greg Liller, who remains as a technical advisor. Mario Castellanos has also been appointed as Project Manager for the Los Reyes Gold-Silver Project. The company plans to commence a 10,000-meter drilling program in early November to upgrade resources and explore new areas. Significant progress has been made despite delays, and an updated geological resource estimate is expected post-drilling.