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. has announced significant results from its Phase 2 drill program at the Los Reyes high-grade gold-silver deposit in Sinaloa, Mexico. Notable intercepts include 6.8 gpt Au and 166 gpt Ag over 19.5 m in hole 22GE-118. The drilling continues to expand the multi-million-ounce resource with a total of over 74,216 metres drilled. The CEO highlighted improved structural modelling leading to more accurate drilling results. An updated resource estimate is expected in mid-2023, incorporating all Phase 1 and 2 results.
Prime Mining Corp. has released its operating and financial results for Q3 2022, reporting a loss of $5,891,219, maintaining a loss per share of $0.05. Significant exploration activities at the Los Reyes Gold-Silver Project in Mexico show promising results, with over 96,000 meters drilled and high-grade gold-silver intercepts reported. Cash reserves stand at $9,344,844, a decrease from December 2021's $27,413,707. The firm has renewed an advisory agreement with Trinity Advisors for a two-year term and continues to engage in community support and environmental strategies amidst ongoing COVID-19 protocols.
Prime Mining Corp. has announced significant Phase 2 drill results from the Guadalupe area, expanding the high-grade Los Reyes gold-silver deposit in Sinaloa, Mexico. Key highlights include drill intercepts such as 27.9 gpt Au and 509 gpt Ag over 2.3m. Following 250 Phase 2 drill holes, ongoing exploration has identified high-grade mineralization beyond the prior resource limits, enhancing potential for increased resource estimates in 2023. CEO Daniel Kunz emphasized the continued success in expanding resource potential, which may lower waste and improve overall project economics.
Prime Mining Corp. has announced additional drill results from its high-grade Los Reyes gold-silver project in Mexico, further delineating the mineralization in the Z-T area. Key highlights include significant gold and silver intercepts, such as 2.36 gpt gold and 177.8 gpt silver over 20.5 meters. The drilling has expanded the known strike length and identified new high-grade chutes, enhancing resource expansion potential. To date, 70,590 meters have been drilled in Phase 2, with further results pending from 93 holes.
Prime Mining Corp. has announced significant Phase 2 drill results at the Los Reyes gold-silver project in Sinaloa, Mexico, reporting findings from 42 drill holes in the Guadalupe corridor. Key highlights include intercepts of up to 16.10 grams per tonne gold and 391.0 grams per tonne silver over 0.9 meters, reflecting a strong potential for mineralization expansion. The company plans to complete 72,000 meters of drilling by October and aims to release an updated mineral resource estimate in early 2023. Current drilling has expanded the defined mineralized zones significantly.
Prime Mining Corp. has appointed Scott Hicks as Executive Vice President, overseeing marketing, communications, and business development. Hicks brings over 20 years of mining experience and previously served at Kinross Gold Corporation. CEO Daniel Kunz emphasized Hicks' immediate contributions to the Los Reyes gold-silver project in Mexico, which has historic recoveries of 1 million ounces of gold and 60 million ounces of silver. To incentivize Hicks, the company is granting 400,000 RSUs and 875,000 stock options, subject to exchange approval.
Prime Mining Corp. reported its financial results for the three-month period ending June 30, 2022. The company recorded a loss of $7.06 million, representing a loss per share of $0.06. Cash reserves decreased to $14.44 million from $27.41 million at the end of 2021. Despite the rainy season, drilling at the Los Reyes project continues with 63,000 meters completed in Phase 2, totaling 88,500 meters in Phases 1 and 2. New drill results indicate significant mineralization extensions beyond the historic resource.
Prime Mining Corp. announced new assay results from its Phase 2 drilling program at the Los Reyes project, which holds substantial gold and silver resources in Sinaloa, Mexico. The recent drilling at San Miguel East revealed promising intercepts, including 2.72 gpt gold and 129.8 gpt silver over 18.0 meters. To date, 83,235 meters of drilling have been conducted, with 57,585 meters completed in this phase. The results indicate potential resource expansion, with ongoing drilling expected to continue until the end of October.
Prime Mining Corp. has announced progress in its expanded Phase 2 drilling program at the Los Reyes project in Sinaloa, Mexico, now targeting 70,000 metres. Recent assays from Tahonitas show high-grade intercepts, including up to 6.08 gpt Au and 103.5 gpt Ag over 3.4 m. To date, the company has drilled 81,000 metres, with 310 holes completed, of which 216 results have been released. The drilling is expected to continue until October, as the company identifies additional mineralization and plans to connect existing resources.
Prime Mining Corp. has successfully upgraded to the OTCQX Best Market from the OTCQB Venture Market, effective June 8, 2022, trading under the symbol PRMNF. This upgrade is significant as it positions the company to enhance its visibility and liquidity among U.S. investors. CEO Daniel Kunz highlighted that this move is expected to strengthen investor confidence through improved disclosure requirements. Prime Mining focuses on the high-grade Los Reyes Gold-Silver Project in Mexico, supported by a strong team and capital structure.