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 new drill results from its Los Reyes gold-silver project in Sinaloa, Mexico, including 13 new core holes at Noche Buena, revealing economic open-pit grade mineralization. This project is part of a $18 million Phase 2 exploration program, with over 50,000 meters planned to expand resources and discover new deposits. Previous drilling has identified mineralization along a 600-meter segment of a 1,000-meter strike length. The results affirm the potential for significant resource expansion, with assays pending for 40 drill holes due to backlog issues.
Prime Mining Corp. has announced its Q2 fiscal 2022 results for the period ending October 31, 2021. The company reported a loss of $5.6 million compared to a loss of $2.55 million in the same quarter last year. Despite the financial losses, Prime successfully raised $9.52 million from the exercise of warrants and appointed experienced new executives to strengthen its leadership. The ongoing exploration at the Los Reyes project is promising, with a new Phase 2 drill program planned to commence shortly, aiming for 50,000 meters of drilling.
Prime Mining Corp. has initiated Phase 2 drilling at its Los Reyes gold-silver project in Mexico, aiming for over 50,000 meters across 250 drill holes. This phase targets resource expansion along three main corridors: Guadalupe Structure, Zapote-Tahonitas Structure, and Central Zone Structure. Notable achievements from Phase 1 include multiple high-grade discoveries and significant geological insights. The company anticipates additional discoveries as only 40% of the known structures have been explored, highlighting the project's substantial growth potential.
Prime Mining Corp. has announced positive results from Phase 1 drilling at its Los Reyes gold-silver project in Mexico. Key findings include significant drill intercepts, such as 6.12 gpt gold and 61.8 gpt silver over 18.4 meters from Zapote South. The drill program has deepened the potential boiling zone height, revealing new high-grade mineralization opportunities. The company plans to expand drilling efforts as it prepares for Phase 2, which will include additional rigs to enhance resource expansion at both Zapote South and Tahonitas deposits.
Prime Mining Corp. announced key management appointments, welcoming Edie Hofmeister to the board and Scott Smith as Executive Vice President - Exploration, effective October 1, 2021. This follows a transition for Kerry Sparkes, who will serve as a technical advisor, thereby maintaining his strategic input. The company reported robust exploration developments at the Los Reyes project, with significant drilling results, cash exceeding $31.9 million, and a decrease in comprehensive losses from the previous year, though losses for Q1 2022 reached $4.04 million.
Prime Mining Corp. announces positive Phase 1 drill results from its Los Reyes gold-silver project in Mexico. Key highlights include remarkable intercepts from the Estaca vein, with gold grades up to 35.37 gpt and silver up to 1,626.0 gpt over significant widths. CEO Daniel Kunz noted potential for resource expansion beyond the current April 2020 estimates, with the total strike length of the vein system now at 1,000 metres. The company is preparing to commence an expanded Phase 2 drilling program in November 2021 to further explore and define these high-grade areas.
Prime Mining Corp. (PRMNF) announced the exercise of 19,040,256 common share purchase warrants, generating gross proceeds of C$9.52 million and boosting its cash position to over C$31.9 million. The company is actively preparing for an extended drilling campaign at its Los Reyes project, having completed 4,537 metres in the Phase 1 program, with a third drill contractor engaged. The Los Reyes project holds substantial resource expansion potential, supported by a recent resource estimate showing 633,000 ounces of gold and 16.6 million ounces of silver.
Prime Mining Corp. reported its Q4 fiscal results for 2021, ending April 30. The Company saw a loss of C$3,324,739 compared to a loss of C$6,852,493 in Q4 2020. Cash reserves increased significantly to C$32,026,806 from C$1,020,820 year-over-year. Notable exploration achievements included expanding the Los Reyes project land position and promising drill results, with significant gold-silver intersections reported. Prime aims to enhance resource expansion, with 19.8 million tonnes of measured and indicated resources containing 633,000 ounces of gold.
Prime Mining Corp. reported promising core drilling results at the San Miguel East deposit in Mexico. Key findings include expanded mineralized zones and the new Fresnillo structure, enhancing the potential of the open-pit resource. Significant intersections include 2.50 gpt gold and 117.9 gpt silver over 8.3 meters. Drill results from the new Las Primas target show initial promising mineralization. The company plans a Phase 2 drilling campaign starting November 2021 to further explore these areas, aiming to improve resource estimates and reduce waste rock stripping ratios.
Prime Mining Corp. has reported new drill results from the Noche Buena deposit at its Los Reyes project in Mexico. The results from seven additional drill holes confirm an expansion of mineralization, with highlights including 1.29 gpt Au and 60.7 gpt Ag over 36.1 m in drill hole 21NB-06. The deposit is open at depth and along strike, with a current resource estimate indicating strong potential for further growth. A Phase 2 drilling campaign is expected to start in November, enhancing resource exploration and development efforts.
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