Prime Mining drills 2.38 g/t gold over 42.7 metres at Los Reyes, Mexico
Prime Mining Corp. [PRYM-TSXV; PRMNF-OTCQB] reported positive drill hole results from its 2021 phase 1 drill program and its continuing phase 2 drill program at the Zapote South deposit. Zapote South is one of the eight known gold-silver deposits at the company’s 100%-owned Los Reyes project in Sinaloa State, Mexico.
Being reported today are 20 new drill holes from Zapote South, including 15 diamond drill and five reverse circulation holes. Eleven of the holes represent final results of the Zapote South phase 1 program and nine holes from the continuing phase 2 program.
Highlights from the Zapote South drill program include 2.38 g/t gold and 43.4 g/t silver over 42.7 metres (27.4 m estimated true width (ETW)) in drill hole 22ZAP-55R. Hole 22ZAP-45 returned 7.75 g/t gold and 56.8 g/t silver over 8 metres (5.8 ETW). Hole 22ZAP-54R returned 2.68 g/t gold and 15.4 g/t silver over 6.1 metres (3.9 m ETW).
Hole 21ZAP-37 returned 2.91 g/t gold and 41.3 g/t silver over 6 metres (5.6 m ETW). Hole 22ZAP-53R returned 2.73 g/t gold and 22.6 g/t silver over 6.1 metres (4.3 m ETW) plus 1.49 g/t gold and 19.9 g/t silver over 13.7 metres (8.8 m ETW) and 1.49 g/t gold plus 6.7 g/t silver over 1.53 metres (1.1 m ETW).
Hole 21ZAP-36 returned 7.10 g/t gold and 20.5 g/t silver over 2.3 metres (1.9 m ETW). Hole 21ZAP-43 returned 1.92 g/t gold and 42.3 g/t silver over 7.50 metres (5.3 m ETW). Hole 21ZAP-32) returned 1.09 g/t gold and 32.2 g/t silver over 28.3 metres (18.2 m ETW).
CEO Daniel Kunz, commented: “Drilling continues to be highly successful at Zapote South as we consistently encounter robust high-grade mineralization with an expanding footprint. The Z-T structure is proving to be an area of good continuity and remains open at depth below the Zapote pits and the current Tahonitas drilling. Recent drilling represents our deepest drilling at Zapote and has expanded mineralization a further 200 metres deeper and significantly to the southeast. Results now indicate that the ZT structure is mineralized over three kilometres to a potential depth of over 300 m below surface.”
Executive vice-president of exploration Scott Smith, commented: “Hole 22ZAP-55R contains one of the widest and deepest intercepts drilled to date and this new discovery opens the opportunity for the entire Z-T structure at depth. The RC hole ended in mineralization at 406 metres above sea level and was terminated due to encountered water. The intercept is over 200 m below the bottom of the current resource with a width of 42.7 metres (27.4 m ETW) and grades of 2.38 g/t gold and 43.4 g/t silver.”
Nine drill rigs are currently operating at Los Reyes in the phase 2 program and have completed 30,000 m (106 holes) of the planned 50,000-metre program. Five drills are operating on Guadalupe East, two on the Central structure, one on the Z-T structure and one on other generative targets. Considerable progress has been made on the previously experienced assay backlog with assay turnaround has been reduced to approximately five weeks.
The Zapote South deposit is part of the Zapote-Tahonitas major northwest-southeast-trending structure, as such it remains open along strike and at depth. To date the company has defined this structure over 3 km in length.
The majority of higher-grade mineralization encountered to date has been found between 710 and 480 metres above sea level. However, 22ZAP-55R, at the north end of Zapote South, encountered significant widths of mineralization at 400 masl along the margins of a large rhyolite intrusive.
Los Reyes remains underexplored as only 40% of the known structures have been systematically drilled, leaving 10 km of untested strike length. Los Reyes holds potential for additional discovery and resource expansion.