Business
First Majestic Announces New High-Grade Gold and Silver Discovery at Santa Elena
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - First Majestic Silver Corp. (NYSE...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"\nFirst Majestic Announces New High-Grade Gold and Silver Discovery at Santa ElenaVancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") is pleased to announce the discovery of a significant new, vein-hosted gold and silver mineralized system at its Santa Elena property in Sonora, Mexico. This new high-grade discovery, the Navidad vein system (\"Navidad\"), was made at depth adjacent to the Company's 100%-owned and currently producing Ermitaño mine.\"We are very excited about the new high-grade gold and silver system, Navidad; this is the most promising discovery at the Santa Elena property since Ermitaño was discovered in 2016. Four drill rigs are currently focused on this area, which appears to have the potential to expand as it is open in all directions\", stated Keith Neumeyer, President & CEO of First Majestic. \"The proximity of this new discovery to the producing Ermitaño mine is important from an operational standpoint, and very encouraging for the prospects of continued exploration success across the underexplored, +100,000-hectare Santa Elena land package. We believe that Navidad has the potential to significantly increase Santa Elena's estimated Mineral Resources and, ultimately, extend the Life of Mine at this operation.\"DRILLING HIGHLIGHTSThe high-grade, mineralized composite sample intervals from the six drillholes intersecting the Navidad vein system are as follows:Drilling Highlights for the Navidad Vein System:EW-24-364: 8.15 g/t Au and 427 g/t Ag over 4.78 metres (\"m\") true thickness (Navidad Vein)EW-24-370: 10.13 g/t Au and 86 g/t Ag over 4.42 m true thickness (Navidad Vein)EW-24-370: 5.65 g/t Au and 46 g/t Ag over 5.75 m true thickness EW-24-368: 54.93 g/t Au and 399 g/t Ag over 1.82 m true thickness (Navidad Vein)EW-23-359: 3.27 g/t Au and 39 g/t Ag over 2.46 m true thickness (Navidad Vein)EW-23-360: 5.83 g/t Au and 146 g/t Ag over 1.53 m true thicknessEW-23-360: 4.75 g/t Au and 68 g/t Ag over 1.91 m true thicknessEW-23-360: 4.06 g/t Au and 77 g/t Ag over 2.09 m true thicknessEW-23-360: 3.48 g/t Au and 74 g/t Ag over 2.39 m true thickness (Navidad Vein)EW-24-366: 1.40 g/t Au and 124 g/t Ag over 2.85 m true thickness (Navidad Vein)An exploratory program of deep drill holes tested ...