Prime Mining drills 2.42 g/t gold over 10.7 metres at Los Reyes, Mexico

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Prime Mining Corp. [PYRM-TSXV; PRMNF-OTCQB] reported new drill results that continue to expand Zapote North, one of eight known mineralized deposits, at its wholly-owned Los Reyes gold-silver project in Sinaloa State, Mexico.

Results are from 17 new drill holes from exploration targeting the northern extension of the Zapote-Tahonitas structure (Z-T Structure). Two of the 17 holes are the final Phase 2 results for Mariposa and the other 15 new drill holes are from Zapote North. This drilling is targeting the expansion of the Zapote North deposit northwards along the structure and confirming the continuity of mineralization of Mariposa to the south. These holes confirm that gold-silver mineralization extends from Zapote North to Mariposa.

Highlight step-out drill intercepts at the Zapote North Deposit include 4.81 g/t gold and 17.2 g/t silver over 2.4 metres (1.7 metres estimated true width (ETW)) in hole 22ZAP-56. Hole 22ZAP-66R returned 2.42 g/t gold and 24.5 g/t silver over 10.7 metres (9.7 metres ETW). Hole 22ZAP-67R returned 3.83 g/t gold and 13.9 g/t silver over 1.5 metres (1.4 metres ETW). Hole 22ZAP-59 returned 1.40 g/t gold and 13.8 g/t silver over 8.7 metres (8.2 metres ETW.

Hole 22ZAP-52R returned 1.07 g/t gold and 20.3 g/t silver over 25.9 metres (19.9 metres ETW), plus 10.7 metres (8.2 metres ETW) at 0.77 g/t gold and 26.5 g/t silver. Hole 22ZAP-68R returned 1.73 g/t gold and 17.7 g/t silver over 9.2 metres (7.9 metres ETW), plus 10.7 metres (8.2 metres ETW) at 0.68 g/t gold and 13.2 g/t silver. Hole 22ZAP-69R returned 1.42 g/t gold and 28.3 g/t silver over 6.1 metres (5.0 metres ETW).

Highlights at Mariposa included hole 22MA-08 that returned 1.10 g/t gold and 11.0 g/t silver over 11.8 m (8.3 metres ETW), plus 7.1 metres (5.4 metres ETW) at 0.99 g/t gold and 9.2 g/t silver. Hole 22MA-09 returned 1.51 g/t gold and 14.7 g/t silver over 4.5 metres (2.9 metres ETW).

Daniel Kunz, CEO, commented: “Connecting open pit mineralization from Zapote North to Mariposa is an important development for the evolving Z-T Structure. This drilling has identified higher grade ore shoots of potentially open-pit mineable material with a focus on exploring the down-dip extensions within known boiling zone elevations. The Zapote North deposit has expansion potential directly east and may be connected to the San Miguel West deposit. The Zapote North deposit also remains open southeast along strike toward Zapote South.”

To date for Phase 1 and 2 combined, Prime has drilled 255 holes totalling 64,070 metres (122 in Phase 1 for 25,650 metres and 133 holes so far in Phase 2 for 38,420 metres). There are currently 3 drill rigs working on the west side of the property (1 at Tahonitas, 1 between Zapote North and San Miguel West and 1 at San Miguel East.) and 5 rigs working on the east side of the property at Guadalupe. Another core rig is drilling at Fresnillo, between Z-T and Central Structures, as part of our area-wide exploration.

Prime Mining acquired Los Reyes is 2019, completed initial data compilation that included 51,000 metres of historical drilling, field mapping and trenching in 2020, and in 2021, executed a Phase 1 exploration program that included 25,650 metres of drilling. Results suggest the eight known deposits are much larger than previously reported and potential exists for new discoveries outside of current defined resource areas. The Company is currently undertaking a 50,000-metre Phase 2 exploration program.

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