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First Majestic Announces 2024 Mineral Reserve and Mineral Resource Estimates
Record Mineral Resource Levels and Strong Year-Over-Year Mineral Reserves Growth Vancouver, Bri...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Announces 2024 Mineral Reserve and Mineral Resource EstimatesRecord Mineral Resource Levels and Strong Year-Over-Year Mineral Reserves GrowthVancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") is pleased to announce the 2024 Mineral Reserve and Mineral Resource estimates for its four operating mines in Mexico and its Jerritt Canyon Gold Mine in the United States, with an effective date of December 31, 2024. The Company's four operating mines in Mexico are: the Cerro Los Gatos Silver Mine (following the Company's recent acquisition of Gatos Silver, Inc., the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine. The Jerritt Canyon Gold Mine is currently in temporary suspension with the Company focused on exploration, definition, and anticipated expansion of the Mineral Resources. Although the Company did not complete the acquisition of Gatos Silver until January 16, 2025, the Company has included the Cerro Los Gatos Mineral Reserves and Resources as of December 31, 2024, for the purposes of this news release and the Company's annual information form for the year ended December 31, 2024 (the \"2024 AIF\").\"2024 marks another record milestone for First Majestic. Due to our strategic M&A activities and widely successful exploration program, we have increased our Mineral Resources to the highest level in the Company's history\" stated Keith Neumeyer, President & CEO of First Majestic. \"I am proud of what we have achieved in 2024 from an exploration and geology stance. We budgeted for a robust exploration program in 2024 and it has yielded exceptional results, most notably the high-grade gold and silver discovery at Santa Elena, Navidad, and impressive results at San Dimas, which sets us up for an exciting future ahead. We finished the year on a fantastic note and our team hit the ground running executing on our record 2025 exploration program.\"In 2024, the Company increased its silver equivalent (\"AgEq\") ounce Proven and Probable Reserves by 45%, and its Measured & Indicated, and Inferred Mineral Resources by 25% and 23%, respectively. This strong increas...