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Prize Mining announces next phase of exploration in Mexico

Mining News - Published on Fri, 15 Mar 2019

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PRIZE MINING CORPORATION announced plans for the next phase of exploration at the Company's Manto Negro Copper Property in Coahuila State, Mexico and the launch of a strategic review of the Kena Gold Project in southeastern British Columbia. " We are pleased to announce the next phase of exploration at our high grade Manto Negro Copper Property said Michael McPhie, President and CEO of Prize. "In our recently completed Phase 1 drilling program we tested just a small part of our wholly owned 18,000 hectare property that contains 35 meaningful surface copper showings over a 45 kilometer trend. Building on encouraging Phase 1 results, the next phase of exploration is intended to further define the scale, grade and potential of this district scale property."

Mr McPhie said that "With the increased interest in copper and other metals used in sustainable energy sources by investors and major mining companies globally, we believe Manto Negro stands out as a unique opportunity to create value for our shareholders in the near term. The Company is also considering options for the future of the Kena Gold Project and is formally initiating a strategic review of this valuable consolidated land package in southeastern British Columbia. Kena has a substantialNl 43-101 bulk tonnage resource of 481,000 ounces indicated and 1,318,000 inferred in a great jurisdiction. In this review, we are looking at all options to maximize shareholder value from the Kena, Daylight and Toughnut properties that, together, make up the Kena Gold Project, that would allow us to focus our time, funding and resources in building the company for the future."

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Posted By : Rabi Wangkhem on Fri, 15 Mar 2019
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