Prime Mining Corp T.PRYM

More detail from NR

[KozmoT]

"Resource Highlights:

• 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 equivalent1 (“AuEq”) ounce (“oz”).
• At the resource gold cut-off grade of 0.22 gpt, Prime’s updated open pit MRE contains:
  • 1.47 million Indicated AuEq ounces at a 1.68 grams per tonne (“gpt”) average grade. This represents a 73% increase in Measured and Indicated AuEq ounces, and 26% increase in AuEq grade. This is 1.0 million ounces of gold at 1.16 gpt and 35 million ounces of silver at 40.4 gpt.
  • 0.73 million Inferred AuEq ounces at a 1.26 gpt average grade. This represents a 175% increase in AuEq ounces and 8% increase in AuEq grade. This is 0.5 million ounces of gold at 0.85 gpt and 18.4 million ounces of silver at 31.5 gpt.
• Using a higher 1.0 gpt gold cut-off grade, the MRE highlights a robust, extremely high-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).
• The MRE has a high-grade open pit mill resource and a lower grade heap leach portion.
• The MRE includes drilling completed before December 31, 2022 from only the three main zones at Los Reyes: Guadalupe, Z-T and Central.
• This MRE does not include positive results from:
  • Mariposa, Las Primas and Fresnillo;
  • highly prospective exploration targets outlined in Prime’s February 27th news release;
  • over 20,000 m drilled to-date during 2023."