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. (PRMNF) has selected Ausenco Engineering Canada ULC to lead the Preliminary Economic Assessment (PEA) study for its Los Reyes gold-silver project in Mexico. The PEA, targeted for completion in Q3 2025, will be based on drilling through 2024 and incorporate extensive technical work completed to date.
The company envisions a 5,000 tonne-per-day mill operation combining open pit and underground mining. Since acquiring Los Reyes in 2019, Prime has invested over $64 million in exploration and completed more than 221,000 metres of drilling. The company plans to continue exploration with six drill rigs on site, focusing on extending high-grade areas at Z-T Area, Guadalupe East, and the Central Area.
Prime Mining Corp has reported new drilling results from its Los Reyes Project in Sinaloa State, Mexico. The company announced significant findings at the Fresnillo target, extending high-grade mineralization by approximately 120 metres up-dip from previous stopes. Key highlights include intersections of 1.99 g/t gold-equivalent over 9.6m, 2.83 g/t AuEq over 6.2m, and 1.46 g/t AuEq over 9.8m.
The Fresnillo target, first drilled in 2022, is located between the Z-T and Central Trends. The recent drilling results are expected to increase the Inferred Resources in future estimates. The company has also released results from eight holes at the Mariposa target, confirming the continuation of the Z-T structure.
Currently, drilling is suspended with six rigs on standby at Los Reyes. Prime's 2025 exploration will focus on extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and developing generative targets.
Prime Mining Corp. (PRMNF) has announced its 2025 outlook for the Los Reyes gold-silver project in Sinaloa, Mexico. The company plans a 40,000-metre drilling program focused on resource expansion and new discoveries. Key areas include extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, and increasing Central Area resources.
Drilling is temporarily suspended since January 28, 2025, due to security concerns in Sinaloa, though this is not expected to impact the overall 2025 program. The company has completed approximately 1,500 metres of drilling year to date.
Prime is well-funded with $19 million in cash (unaudited) as of December 31, 2024, plus approximately $19 million in in-the-money warrants and options, expected to fund operations through 2025 and into 2026. The company aims to complete a Preliminary Economic Assessment and continues technical de-risking activities.
Prime Mining Corp has reported significant expansion drilling results from its Los Reyes Project in Mexico. Key highlights from the Central Trend include high-grade intersections at Noche Buena, with notable results of 3.48 g/t gold-equivalent over 7.6m ETW in hole 24NB-78, 2.16 g/t AuEq over 11.3m ETW in hole 24NB-67, and 1.65 g/t AuEq over 11.2m ETW in hole 24NB-77.
The drilling has defined a new 400-meter long high-grade shoot at the southern end of Noche Buena, extending 210m and 300m along strike from the 2024 MRE pit crest and southernmost MRE stopes, respectively. The mineralization remains open at depth and along strike, suggesting potential for significant resource expansion.
The company currently has six drill rigs on site, focusing on extending high-grade shoots at Z-T Area, expanding mineralization at Guadalupe East, increasing Central Area resources, and exploring generative targets at Las Primas, Mariposa, and Fresnillo.
Prime Mining Corp (PRMNF) has reported significant expansion drilling results from its Los Reyes Project in Mexico, highlighting a new 'Tahonitas Footwall' discovery in the Z-T Trend. Notable intersections include 9.5 g/t gold-equivalent over 2.1 metres and 1.62 g/t gold-equivalent over 15.2 metres.
The newly discovered high-grade ore shoot at Tahonitas, defined over 260 metres by 140 metres, remains open along strike and at depth. The southern-most holes are located over 650 metres south of the Mineral Resource Estimate (MRE) pit crest and approximately 250 metres along strike from the southern-most stope. All highlighted intercepts are within 200 metres from surface, suggesting potential for both open pit and underground extraction.
The company currently has six drill rigs active on site, focusing on extending high-grade shoots at Z-T Area, expanding mineralization at Guadalupe East, increasing Central Area resources, and exploring generative targets.
Prime Mining Corp has reported expansion drilling results from its Los Reyes Project in Mexico, highlighting significant gold and silver intersections at the Guadalupe Trend. Key findings include an intersection of 42.07 g/t gold-equivalent (14.25 g/t Au and 2,150.0 g/t Ag) over 1.0 meters in hole 24GE-160, located over 400m from the main Guadalupe East resource area.
The company has expanded its fiscal 2024 drilling program to 50,000 metres from 40,000 metres, with five drill rigs currently active on site. The program focuses on extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and exploring generative targets at Las Primas, Mariposa, and Fresnillo.
Prime Mining Corp has filed an updated technical report for its Los Reyes gold-silver project in Mexico, highlighting significant resource growth. The 2024 Mineral Resource Estimate shows Indicated Resources increased 49% to 2.2 million gold-equivalent ounces, while Inferred Resources grew 11% to 0.8 million gold-equivalent ounces compared to May 2023.
The report includes new Underground Resources of 664,000 Indicated ounces and 406,000 Inferred ounces. Open-pit resources have also expanded, with Milled Indicated Resources growing 48% to 1.93 million gold-equivalent ounces. The company has expanded its 2024 drilling program to 50,000 metres from 40,000 metres, with five drill rigs currently active.
Prime Mining Corp reported Q3 2024 results, highlighting significant progress at its Los Reyes Gold-Silver Project. The company announced a major resource expansion with a 49% increase in Indicated Resources to 2.2 million gold-equivalent ounces and an 11% increase in Inferred Resources to 0.8 million gold-equivalent ounces. Notable drilling results include intersections of 9.39 g/t gold-equivalent over 10.5 metres at Tahonitas. The company expanded its 2024 drilling program to 50,000 metres from 40,000 metres, with four drill rigs currently active. Financial results show cash position of $21.2 million as of September 30, 2024.
Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) has reported a significant expansion in its 2024 Mineral Resource Estimate (MRE) for the Los Reyes Project in Mexico. Indicated Resources have increased 49% to 2.2 million gold-equivalent ounces (AuEq), while Inferred Resources have grown 11% to 0.8 million AuEq ozs. The update includes new high-grade underground resources, validating the company's strategy for a high-recovery, high-margin milling operation.
Key highlights include:
- Milled Indicated Resources grew 48% to 1.93 million AuEq ozs at 2.08 g/t AuEq
- Milled Inferred Resources increased 19% to 0.74 million AuEq ozs at 2.05 g/t AuEq
- The MRE is based on 240,172 metres of drilling, with Prime's discovery cost at just over $US 20 per Resource ounce added
- Significant upside potential remains as mineralization is open along strike and at depth
The updated MRE demonstrates the project's potential for both open-pit and underground mining operations, with ongoing exploration targeting further resource expansion.
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