➡ First Majestic has made a second gold-silver discovery within a year at Santa Elena and expanded high-grade mineralization at NaviDod. They found a new deposit, Santa Nino, near their existing operation and increased the size of the mineralized area at NaviDod. This gives Santa Elena four deposits in total. The drilling at Santa Nino has shown promising gold and silver grades, similar to another deposit, Ermitaño.

Well, hello there my friends, Chris Marcus here with you for Arcadia Economics and just a quick update because we did have some positive news out of First Majestic last week as they’ve announced their second gold-silver discovery within the past year at Santa Elena and they’ve also expanded the high-grade mineralization at NaviDod, so great news to hear from First Majestic and let us dig into what we have here because they have a new deposit named Santa Nino which is confirmed 900 meters south of the Santa Elena plant so very helpful obviously that it is close by to the rest of the operation and they also had additional drill results from the recent NaviDod discovery that have substantially increased the size of the mineralized area and also several of the drill holes returned higher than average grades for the deposits and so now with the continued exploration at NaviDod as well as the discovery of Santa Nino that gives the Santa Elena property four deposits obviously Santa Elena and Ermitaño which we talked about quite a bit last year and now also NaviDod and Santa Nino.

Quick word from Keith here, Santa Nino discovery marks yet another exciting milestone for the district and the drilling shows the vein remains open for expansion in most directions and also the step out drilling at NaviDod has continued to intercept high-grade mineralization and expand the resource and here in terms of the drilling at Santa Nino exploration drilling has traced the vein over one kilometer of strike and 400 meters down dip with 13 intercepts to date returning significant golden silver grades and so far they’ve found that the geological characteristics are quite similar to Ermitaño which will certainly be helpful as they move forward there and their drilling at NaviDod expanded the footprint of the precious metal mineralization and they had several intercepts that were higher than what was reported in their maiden resource estimate and one of the drill holes targeted the winter vein 100 meters east of the prior drilling area they got 14.8 grams per ton over 6.8 meters along with 642 grams per ton silver for a silver equivalent grade of 1898 grams per ton which certainly is a nice start to what they are seeing there and here we have a quick look at the drill results which obviously you can pause this although also the link to this press release is in the description field below and here you can see where that new Santa Nino discovery is along with NaviDod down to the south there’s Ermitaño and obviously the Santa Lena mine and at Santa Nino of the 23 diamond drill core holes that have been completed 11 defined a continuous higher grade zone in the veins western upper levels and of course at this point the full extent of Santa Nino’s vein yet to be defined which obviously they’re just starting the drilling here but they do have substantial follow-up drilling planned for 2025 so we will be hearing more about that throughout this year and certainly will keep you posted and over at the NaviDod target they have an aggressive drill program with nine rigs currently active and that’s going to be up and running for the remainder of the year as they test the full strike length and depth potential of the new discoveries and explore for additional deposits so again this press release in the description field below so click on that to take a look through and just wanted to give you highlights here and with that said i will see you again tomorrow
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