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First Majestic Produces 5.5 Million AgEq Oz in Q3 2024 Consisting of 2.0 Million Silver Ounces and 41,761 Gold Ounces
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2024) - First Majestic Silver Corp. (N...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Produces 5.5 Million AgEq Oz in Q3 2024 Consisting of 2.0 Million Silver Ounces and 41,761 Gold OuncesVancouver, British Columbia--(Newsfile Corp. - October 17, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") announces that total production in the third quarter of 2024 from the Company's three producing underground mines in Mexico, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, reached 5.5 million silver equivalent (\"AgEq\") ounces, consisting of 2.0 million silver ounces and 41,761 gold ounces. In the first nine months of 2024, the Company produced 6.0 million silver ounces and 117,036 gold ounces for total production of 15.9 million AgEq ounces, or approximately 72% of the midpoint of the Company's revised 2024 production guidance of 21.4 to 22.6 million AgEq ounces. The Company's financial results for the third quarter of 2024 are scheduled to be released on Thursday, November 7, 2024. Q3 2024 HIGHLIGHTSHigher Q3 Silver Equivalent Production: The Company produced 5.5 million AgEq ounces in Q3 2024 representing a 4% increase when compared to 5.3 million AgEq ounces produced in the previous quarter, primarily due to increased gold production at San Dimas and Santa Elena.Continued Active Exploration Program: The Company completed a total of 50,020 metres (\"m\") of drilling across its mines in Mexico and its Jerritt Canyon Gold Mine in Nevada, U.S.A. during the third quarter, representing a continued increase in exploration compared to Q2. Throughout the quarter, 28 drill rigs were active consisting of 14 rigs at San Dimas, nine rigs at Santa Elena, three rigs at Jerritt Canyon and two rigs at La Encantada. High-Grade Gold and Silver Discovery: The Company announced the discovery of a new, high-grade gold and silver vein hosted system - the Navidad system - at the Santa Elena property (see news release dated July 30, 2024). The new discovery was made adjacent to the Company's 100%-owned, and currently producing, Ermitaño mine. First Majestic is focusing its exploration efforts on Navidad as seven of the nine active rigs at Santa Elena have been allocated to drilling this new vein system.Jerritt Canyon Mine Exploration Program Commenced: Jerritt Canyon's 2024 exploration program commenced at the be...