Prime Mining Corp. (TSXV:PRYM)

Mining

Prime Mining Corp, earlier known as ePower Metals Inc, is a junior metal mining and exploration company. 

It operates in the basic materials sector and is listed on the TSX Venture Exchange in Canada. 

The mining firm’s common stocks are traded under the stock symbol of ‘PRYM’. The British Columbia-based mineral company claims to be one of the top performers in the TSX Venture 50 rankings. 

In addition to TSXV, the metal exploration and development company is also listed on the OTCQB Market in the United States and the Frankfurt Stock Exchange (FSE) under the stock symbols- ‘PRMNF’ and ‘A2PRDW’, respectively. 

The Vancouver-based natural resource mining firm operates the Los Reyes Project, a wholly owned project situated nearly 43 three kilometers southeast of Cosala in Sinaloa, Mexico. 

The Los Reyes Property consists of high-grade gold and silver mineralization with mining claims covering a total area of more than 13,800 hectares. 

The firm acquired this from Vista Gold. 

It said that the transaction consists of 49% back-in right on underground mining and buy-back of two separate 2% royalty payment. 

The mining company says that the project is well-established with proper infrastructure, including road connectivity, power supply, water, and workforce. 

The Los Reyes Property is close to various projects operated by several mining firms, including Chesapeake Gold Corp, First Majestic Silver Corp, McEwen Mining Inc, Americas Gold and Silver Corporation, and Mineral Alamos Inc. 

The mineral exploration firm says that the measured and indicated resources at the project site include approximately 633,000 ounces of gold (Au) and nearly 16,604 ounces of silver (Ag). 

The inferred resources onsite accounts for some 179,000 ounces of gold (Au) and 6,831,000 ounces of silver (Ag). 

In a press release dated June 28, 2021, the Canadian company claims to have achieved positive results from the Mina Exploration Drill Program and Phase I of Los Reyes Drilling. 

The company also initiated Phase II drilling at the Los Reyes Property.