Prize Mining (PRZ.V) will now extend and expand its ground exploration program at the Toughnut and Daylight properties to follow up on the previously announced results of the geochemical and geophysical surveys.
These surveys have outlined some interesting soil anomalies where high gold values were retrieved and Prize Mining now first wants to get a better understanding of these zones before directing a drill rig to drill-test the hot spots. Prize has now outlined six focus points for the follow-up exploration program and we’re particularly keen to see the additional results on the untested zones along the Silver King shear (which has the potential to host some higher grade zones). The results of this exploration program will subsequently be used to prioritize the drill targets (as Prize still plans to start drilling Daylight and Toughnut in October).
In other news, Prize has also reduced the exercise price of the 7.14 million warrants from C$0.75 to C$0.50. The acceleration clause has also been amended as those warrants could be ‘called’ when Prize’s share price trades above C$0.65 for at least ten consecutive trading days. Should these warrants be exercised, an additional C$3.57M will be added to Prize’s treasury