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First Majestic Produces 7.6 million AgEq Oz in Q1 Consisting of 2.5 million Silver Ounces and 60,594 Gold Ounces; Announces VP Management Changes
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - First Majestic Silver Corp. (NYS...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Produces 7.6 million AgEq Oz in Q1 Consisting of 2.5 million Silver Ounces and 60,594 Gold Ounces; Announces VP Management ChangesVancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (\"First Majestic\" or the \"Company\") announces that total production from the Company's four material properties; the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine reached 7.6 million silver equivalent (\"AgEq\") ounces in the first quarter of 2023, consisting of 2.5 million silver ounces and 60,594 gold ounces. This represents a 6% increase in total production compared to the first quarter of 2022 and a 1% increase compared to the prior quarter.Q1 2023 HIGHLIGHTSStrong Q1 Silver Production from Mexican Operations: The Company's Mexican operations produced 2.5 million silver ounces and 44,252 gold ounces, or approximately 6.2 million AqEq ounces in the quarter. Silver production increased 6% over the prior quarter primarily due to higher grades at both San Dimas and La Encantada. Gold production in Mexico decreased 4% as slightly lower grades were processed at Santa Elena and San Dimas. At Jerritt Canyon in Nevada, USA, gold production reached 16,431 ounces, or a 3% decrease over the prior quarter primarily due to lower processed tonnes caused by continued extreme winter weather conditions.Ermitaño Achieves Full Quarterly Production at Santa Elena: In Q1 2023, Santa Elena transitioned full mine production to Ermitaño achieving strong throughputs rates of 208,821 processed tonnes, or 26% higher than the prior quarter. Refocus of Resources at Jerritt Canyon: On March 20, 2023, the Company announced the temporary suspension of all mining activities at Jerritt Canyon in order to reduce overall costs and refocus on mining and exploration plans. For the rest of 2023, the Company plans to shift the focus of its exploration activities towards growth of the Inferred Resource and testing locations with favorable geologic settings and large volume resource potential. Approximately 28,000 metres of drilling are planned to be drilled in 2023 at Jerritt Canyon.18 Drill Rigs Active: The Company began the 2023 exploration program during the quarter by completing a total of 36,688 metres of drilling ac...