Prime Mining Extends Mineralization at Los Reyes Project in Mexico
Prime Mining Corp has reported initial results from its 15,000 meter Phase 1 diamond drilling program at the Los Reyes project in Sinaloa State in Mexico. Results have been received from drill hole 21GE-01 at Guadalupe East and surface sampling at Mina 20/21 has discovered new high-grade mineralization 1.3 km northeast of Guadalupe East in an area of unrecorded historic mining. Chief Executive Officer Daniel Kunz said “Our first Guadalupe East drill hole opens up impressive bonanza-grade gold-silver potential at Los Reyes and highlights the expanding potential at depth and to the east at Guadalupe. Recognition of the San Nicolas vein at shallow depths and below the current pit boundary offers significant pit expansion opportunities, while the newly sampled bonanza grade mineralized structures in an area known as Mina 20/21 may lead Prime to discover more mineral deposit areas.”
21GE-01, the first drill hole at Guadalupe East intersected 20.1 metres at 3.25 grams per tonne gold and 380.0 gpt silver, including 6.5 m at 6.51 gpt Au and 587.5 gpt Ag. At 320 m below surface, this vein intersection is the deepest exploration drilling ever on the Los Reyes project, this intercept is approximately 40 m below any historic underground development and extends bonanza grade mineralization 150 m below any drilling by previous operators.
21GE-01 also intersected 3.8 m at 3.69 gpt Au and 305.1 gpt Ag including 2.1 m at 6.18 gpt Au and 507.1 gpt Ag in the San Nicholas vein below the bottom of the currently defined open pit resource and 80 m along strike from any historic drilling.
New surface mapping and sampling at Mina 20/21 resulted in the discovery of an area of unrecorded historic mining. Chip sampling of adularia bearing banded quartz veins and quartz breccias returned several mineralized intervals including 2.3 m at 29.8 gpt Au and 1,132 gpt Ag.
The relative elevations of mineralization in drilling at Guadalupe and in sampling at Mina 20/21 suggest the bonanza grade epithermal column extends over 500 m in vertical height.