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. (OTCQB: PRMNF) released additional Phase 2 drill results from 12 drill holes at the Guadalupe East deposit, part of the Los Reyes project. Notable intercepts include 61.99 gpt gold and 977.6 gpt silver over 3.6 metres in drill hole 22GE-53. The company's ongoing drilling, now over 49,350 metres, aims to expand resources as they report high-grade mineralization results. CEO Daniel Kunz mentioned the potential for considerable resource expansion, highlighting that ongoing drilling has defined a vein group length of over 420 metres.
Prime Mining Corp. (OTCQB: PRMNF) published its operational and financial results for the first quarter of 2022, reporting a loss of $8,038,370 compared to $3,324,739 in Q1 2021. Despite this, the company is advancing its Los Reyes Gold-Silver Project in Mexico, with 9 drill rigs currently operational and approximately 35,000 metres drilled in Phase 2 of exploration. Prime expects to release a new resource report in early 2023 and continues to manage health protocols effectively amidst COVID-19.
Prime Mining Corp. (PRMNF) reports new drilling results from the Los Reyes gold-silver project in Mexico, expanding the Zapote North deposit. The 17 drill holes confirm gold-silver mineralization continuity between Zapote North and Mariposa, with significant intercepts including 4.81 gpt gold and 17.2 gpt silver over 2.4 meters. The company has completed 255 drill holes totaling 64,070 meters in its exploration campaign. CEO Daniel Kunz highlights the potential for connecting mineralization and expanding resources, as further drilling continues to assess the project's extensive unexplored areas.
Prime Mining Corp. reported positive drill results from 26 drill holes at its Los Reyes gold-silver project in Mexico. Key highlights include the discovery of a second high-grade ore shoot in the Guadalupe East area and bonanza-grade mineralization found 550 meters from the inferred open pit boundary. To date, 236 drill holes have been completed, with ongoing drilling part of a 50,000-meter Phase 2 program. The latest results indicate significant resource expansion potential and continued exploration interest in the project.
Prime Mining Corp. has appointed Chantal Gosselin to its board of directors, effective March 29, 2022, expanding the board to eight members, six of whom are independent. Gosselin brings over 30 years of mining and capital markets experience, having served in significant roles at Goodman Investment Counsel and Sun Valley Gold. She holds an MBA and a degree in Mining Engineering. The company is progressing with its Los Reyes Gold-Silver Project in Mexico, having conducted extensive drilling programs that indicate potential resource expansion.
Prime Mining Corp. reported its financial and operating results for the eight months ending December 31, 2021, emphasizing its focus on the Los Reyes Gold-Silver Project in Mexico. CEO Daniel Kunz highlighted a cash position of $22 million and ongoing drilling efforts with nine rigs. Financials reflect a loss of $14.3 million and a loss per share of $0.13. Notably, the company announced its addition to the MVIS Global Junior Miners Index and continued positive results from exploration drilling.
Prime Mining Corp. reports positive results from 20 new drill holes at the Zapote South deposit, part of its Los Reyes project in Mexico. The highlights include grades such as 2.38 gpt gold and 43.4 gpt silver over significant intervals. CEO Daniel Kunz noted expanding high-grade mineralization and successful drilling depth increases. Currently, nine drill rigs are operational and have completed 30,000 meters of the planned 50,000-meter Phase 2 program. Recent drilling has extended mineralization to over 300 meters below surface, indicating strong potential for further resource expansion.
Prime Mining Corp. has reported positive results from drill hole 22GE-33 at the Los Reyes gold-silver project in Sinaloa, Mexico. The hole intersected 41.6 meters of mineralization, including notable grades of 11.60 gpt gold and 219.0 gpt silver over a 1.5 m interval. Additional drilling is ongoing, with eight rigs testing multiple veins. CEO Daniel Kunz emphasized the significance of these results, indicating that previous mining operations did not deplete the major mineralization. The company continues a 50,000-meter Phase 2 exploration program, with 15 holes pending assay results.
Prime Mining Corp. has announced encouraging results from its first drill program at the Guadalupe West deposit, part of the Los Reyes project in Sinaloa, Mexico. Twelve drill holes have been reported, revealing significant gold and silver mineralization, with notable intercepts including 1.68 grams per tonne (gpt) gold and 25.8 gpt silver over 22.9 metres. The Phase 2 drilling program aims to further explore this and the adjacent Guadalupe East deposit, with a total of 50,000 metres planned. The project demonstrates potential for open-pit mining and resource expansion.
Prime Mining Corp. reports significant drilling results from its Los Reyes gold-silver project in Sinaloa, Mexico, expanding known mineralized structures. Seventeen new core holes confirmed continuity of mineralization along the Zapote-Tahonitas structure, extending it by 450 meters to 3.0 kilometers. Key intercepts include up to 4.89 gpt gold and 22.2 gpt silver over 35.3 meters. The ongoing Phase 2 drilling program aims to drill 50,000 meters, with 21,530 meters already completed.