07:34 AM EST, 01/30/2025 (MT Newswires) -- Prime Mining ( PRMNF ) reported Thursday expansion drilling results from its Los Reyes project in Mexico.

Results include 3.48 grams per tonne (g/t) gold equivalent over 7.6 meters, 2.16 g/t gold equivalent over 11.3 meters and 1.65 g/t gold equivalent over 11.2 meters.

"Step-out drill holes at the southernmost end of Noche Buena in the Central Trend returned excellent gold and silver grades, defining a brand new high-grade shoot that is several hundred meters beyond our October 2024 resource update," CEO Scott Hicks said. "Mineralization is at grades and widths indicative of underground expansion potential."

The company said the results were from 2024 drilling that were not included in a resource estimate published in October 2024.

"Mineralization remains open at depth and along strike to the south, with strong potential for significant extension via the 2025 drilling currently underway," Hicks said.

Prime Mining's ( PRMNF ) share price jumped 4.3% on Wednesday to $1.68 on the TSX.