9/22/2023 0 Comments Primefiles avg![]() The Company is drilling the highly prospective Guadalupe, Z-T and Central Zones in order to expand known resources in these areas and is further exploring newly developing resource areas. Prime is advancing its 60,000 m exploration drilling program at Los Reyes in 2023. Recent results from Z-T drilling are expected to be reported in the coming weeks. ![]() These results confirm the potential ongoing expansion of gold-silver resources in addition to and not included in the Company’s MRE and follows similar Z-T results released January 11, 2023. New multiple wide, high-grade intercepts in Z-T areaįollowing the May 2 resource update news release, Prime reported on the results from fourteen new core holes drilled at the southeast end of the Z-T Area, which were all outside of the resource pit shell (link to press release here). Potential also exists for new discoveries where mineralized trends have been identified outside of the currently defined resource areas. With ongoing drilling success, the Company believes there is significant potential to expand the MRE.ĭrilling is ongoing in the three known main deposit areas (Guadalupe, Central and Z-T) that are larger than previously reported.over 34,000 m drilled to-date during 2023.highly prospective exploration targets outlined in Prime’s February 27th news release.This MRE does not include positive results from:.The MRE includes drilling completed before Decemfrom only the three main zones at Los Reyes: Guadalupe, Z-T and Central.The MRE has a high-grade open pit mill resource and a lower grade heap leach portion.Using a higher 1.00 gpt gold cut-off grade, the MRE highlights a robust, higher-grade open pit resource that contains in excess of 1.0 million AuEq Indicated ounces at an average AuEq grade of 3.70 gpt (see Table 2 for more details).This is 0.5 million ounces of gold at 0.85 gpt and 18.4 million ounces of silver at 31.5 gpt. This represents a 175% increase in AuEq ounces and 8% increase in AuEq grade. 0.73 million Inferred AuEq ounces at a 1.26 gpt average grade. ![]() This is 1.0 million ounces of gold at 1.16 gpt and 35 million ounces of silver at 40.4 gpt. This represents a 73% increase in Measured and Indicated AuEq ounces, and 26% increase in AuEq grade. 1.47 million Indicated AuEq ounces at a 1.68 grams per tonne (“gpt”) average grade.At the resource gold cut-off grade of 0.22 gpt, Prime’s updated open pit MRE (Table 1) contains:.The addition of 100,000 metres (“m”) of Prime drilling has doubled the current MRE compared to the April 2020 resource, with a discovery cost of approximately US$25 per gold equivalent 1 (“AuEq”) ounce (“oz”).The 2023 Technical Report can be found on the Company’s website at and on SEDAR at under the Company’s Issuer Profile. The 2023 Technical Report supersedes the technical report on the Los Reyes Project dated April 2, 2020. Sims is President of Sims Resources LLC and is an “Independent Qualified Person” in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). ![]() The 2023 Technical Report was prepared under the supervision of Mr. The report, dated June 12, 2023, is titled “The Los Reyes Project, México” (the “2023 Technical Report”). (“Prime” or the “Company”) (TSX-V: PRYM, OTCQX: PRMNF, Frankfurt: 04V3) is pleased to announce the filing of a technical report for the updated mineral resource estimate (“MRE”), reported on May 2, 2023, for its Los Reyes gold-silver project located in Sinaloa State, Mexico. Exploration success continues beyond the resource estimate ![]()
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