04:29 PM EDT, 10/15/2024 (MT Newswires) -- Prime Mining ( PRMNF ) on Tuesday reported a significant open pit expansion and new underground resources in its 2024 mineral resource estimate (MRE) for the Los Reyes project in Sinaloa, Mexico.

The data showed indicated resources have risen by 49% to 2.2-million gold-equivalent ounces (AuEq), while inferred resources rose 11% to 0.8-million AuEq ounces compared to the May 2023 MRE, the company said.

The results are based on drilling completed up to July 17.

The company added that it sees great potential for expanding the three main trends and generative targets within the current zones, as well as in the under-explored north and northeast areas of the Los Reyes property. Exploration drilling is ongoing throughout the property.

Prime shares closed down $0.03 to $1.86 on the Toronto Stock Exchange.