Highlight Drill Intercepts
Zapote South Step Out Drilling [holes with * are shown on the attached Cross Sections]
- 6.12 grams per tonne (“gpt”) gold (“Au”) and 61.8 gpt silver (“Ag”) over 18.4 metres (“m”) (11.8 m estimated true width (“etw”)), including 12.02 gpt Au and 60.8 gpt Ag over 8.5 m (5.5 m etw) at 33.0 m from surface (21ZAP-12A);
- 3.36 gpt Au and 83.2 gpt Ag over 16.0 m (13.1 m etw), including 5.77 gpt Au and 110.4 gpt Ag over 9.0 m (7.4 m etw) at 197.0 m from surface (21ZAP-21*);
- 2.18 gpt Au and 45.4 gpt Ag over 20.6 m (13.2 m etw) at 50.2 m (21ZAP-16*);
- 2.85 gpt Au and 31.1 gpt Ag over 9.3 m (8.4 m etw) at 150.1 m (21ZAP-18*);
- 3.89 gpt Au and 13.4 gpt Ag over 2.0 m (1.4 m etw) at 159.0 m, including 6.52 gpt Au and 13.9 gpt Ag over 1.0 m (0.7 m etw) (21ZAP-20*).
Tahonitas Step Out Drilling
- 14.51 gpt Au and 82.1 gpt Ag over 4.9 m (3.8 m etw) at 16.5 m, and 3.96 gpt Au and 9.2 gpt Ag over 2.9 m (2.2 m etw) at 37.5 m (21TA-08);
- 5.55 gpt Au and 163.8 gpt Ag over 2.8 m (2.1m etw) at 13.5 m (21TA-10);
- 2.07 gpt Au and 247.8 gpt Ag over 3.8 m (2.90 m etw) at 113.0 m, including 7.32 gpt Au and 840.0 gpt Ag over 0.9 m (0.7 m etw) (21TA-05);
- 1.90 gpt Au and 78.3 gpt Ag over 6.0 m (3.9 m etw) at 72.0 m (21TA-09);
- 3.86 gpt Au and 448.0 gpt Ag over 1.0 m (0.9 m etw) at 48.2 m and 1.55 gpt Au and 230.2 gpt Ag over 4.4 m (4.0 m etw) at 58.4 m (21TA-11).
Chief Executive Officer,
Technical Advisor
These new results are from the west end of
Reported today are results from 18 drill holes with seven holes within and adjacent to the Zapote South deposit and 11 drill holes within or adjacent to the Tahonitas deposit (see Table 1: Reported Drill Intercepts). All 18 drill holes intercepted potentially economic mineralization with eight holes returning significant high-grade results. Zapote South and Tahonitas are two of eight known gold-silver deposits (see Figure 1: Los Reyes Drill Program Progress, Figure 2: Zapote South – Tahonitas Location Map).
Three drill rigs continue to operate at the Project. Drilling activities are expected to ramp up in November when the rainy season ends and allows for better access to deposits on the east side of
Key takeaways from on the Z-T drilling include:
- Deepened the epithermal boiling elevation by at least 50 m. At
Zapote , Phase 1 drilling has extended the potential boiling zone height which hosts the highest-grade mineralization, from 530 masl by 50 m to 480 masl. This “deepening” of the bottom elevation of the boiling zone elevation provides exploration prospects belowZapote and across the entire Z-T structure to that depth. Follow-up is a part of Phase 2; - High grade mineralization intercepted in ‘below-pit’ drill holes. 21ZAP-21, with 3.36 gpt gold and 83.2 gpt silver over 13.1 m etw, 21ZAP-19 with 0.75 g/t Au and 13.7 g/t Ag over 19.3 m etw, and 21ZAP-20 with 3.89 gpt gold and 13.4 gpt Ag over 1.4 m etw. All three drill hole intercepts are below the current resource pit bottom providing significant opportunity to expand resources at depth (Figure 3– Zapote South Longitudinal Section, Figure 4: Section B-B’, and Figure 5: Section C-C’);
- 21ZAP-21, with 13.1 m of high-grade precious metal values, shows that on the most southeasterly section drilled to-date at Zapote South there is high-grade mineralization with its dip extent of at least 125 m including 50 m below the current pit bottom. (Figure 4: Section B-B’). Zapote South remains open to the south-east towards Tahonitas, presenting a Phase 2 exploration opportunity;
- Shallow Drilling at Tahonitas. Phase 1 produced positive results encountering near surface mineralization with our initial drilling. However, drilling to-date has not yet targeted the Z-T structure at the same depth where good high-grade mineralization is encountered at Zapote South. Deeper drilling at Tahonitas is a key Phase 2 exploration opportunity.
- Phase 1 successfully targeted significant areas of inferred resources for in-fill drilling and produced positive results.
Link 1 – PDF Figures 1,2,3, 4 and 5
Link 2 – PDF Drill Hole Table 1
Zapote South and Tahonitas Geological Interpretation
Mineralization at Zapote South consists primarily of white to grey crystalline to chalcedonic quartz, quartz breccia and stockwork exploiting 45-degree southwest dipping fault structures within or along the margins of rhyolite dykes that intrude both andesitic tuffs and rhyolite. Quartz is massive to crustiform, locally displaying colliform to bladed replacement textures. Higher-grade intervals are marked by finely banded green adularia. Gold distribution appears to be zoned within the quartz bearing structure, having a 1.0 to 5.0 m thick higher-grade section of over 4.0 gpt Au enveloped by a broader zone of over 10.0 m of lower-grade mineralization. Higher-grade structures appear continuous along the section dip-planes. Current drilling results at Zapote South indicate that the apparent optimum elevation for higher-grade deposition appears to be found between 710 m and 480 m above sea level (“masl”). Above this upper elevation, quartz and quartz breccia zones generally become narrower and lower grade. Below 480 masl, the quartz bearing zones appear to broaden into wider and lower-grade zones before thinning at depth. Silver appears to have an uneven distribution throughout the mineralized interval, but in general, highest-grade silver appears to associate with higher-grade gold.
QA/QC Protocols and Sampling Procedures
Drill core at the
Samples are picked up from the Project by Bureau Veritas and transported to their laboratory in
Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy of a 30 g sample (code FA430). Multi-element chemistry is analyzed by 4-Acid digestion of a 0.25-gram sample split (code MA300) with detection by inductively coupled plasma emission spectrometer for 35 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, La, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, S, Sb, Sc, Sn, Sr, Th, Ti, U, V, W, Y, Zn, Zr).
Gold assay technique FA430 has an upper detection limit of 10 ppm. Any sample that produces an over-limit gold value via the FA430 technique is sent for gravimetric finish via method FA-530. Silver analysis by MA300 has an upper limit of 200 ppm. Sample with over limit silver are reanalyzed by fire assay with gravimetric finish (FA530).
Bureau Veritas is an ISO/IEC accredited assay laboratory. Drill core assay results range from below detection to 93.80 gpt gold and 4,955.0 gpt silver. Composite intervals use a cut-off grade of 0.20 gpt gold.
Qualified Person
Current Measured and Indicated pit-constrained oxide mineral resources from an
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Chief Executive Officer
For further information, please contact:
Chief Executive Officer and Director
Telephone: 1-208-926-6379 office
email: daniel@primeminingcorp.ca
Executive Vice President and Director
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Telephone: (604) 428-6128
Facsimile: (604) 428-6430
E: andy@primeminingcorp.ca
Neither the
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