First Majestic Releases San Dimas Exploration Results

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Summary

➡ First Majestic’s recent drilling program at San Dimas has found significant amounts of silver and gold. The results will help turn estimated resources into confirmed ones, making them ready for mining. The drilling also showed potential for more resources in the area. For more details, check the link in the description.

Transcript

Well, hello there my friends, Chris Marcus here with you for Arcadia Economics and a quick update here as we did have news from First Majestic this week as they had exploration results from their drilling program at San Dimas and the 2024 drilling program intersected significant silver and gold mineralization in multiple veins at San Dimas and the results also expand the mineral resources and will convert inferred mineral resources to indicated and ultimately to mineral reserves. So we have a comment here from Keith Neumeier who mentions at the beginning of the year we planned a robust exploration program at our San Dimas mine which has returned impressive results.

Our exploration teams have completed approximately 113,000 meters of drilling in the district and have intersected the significant silver and gold mineralization that we mentioned a moment ago and in the process of successfully converting inferred to indicated resources at Perez and Sinaloa at Elia veins. Program also de-risked the mineralization for mining in 2025 and 2026 and here they have some of the highlights from the drilling at the Perez vein and these are on true width. You have 10.03 grams per ton gold, 1996 grams per ton silver over 3.65 meters also 6.28 grams per ton gold, 1,000 grams over 2.3 meters.

Here at Sinaloa, Elia you have that 23.33 grams per ton gold and over 1,000 grams per ton silver over 1.31 meters and you can see similar results at Santa Teresa. The 10.02 grams per ton gold, 359 grams per ton silver and they also mentioned that the exploration drilling at the Perez vein extended the silver and gold mineralization up dip in the west central portion of the vein and converted inferred to indicated resources refining the vein width and grades and the vein potential remains open to the east and to the west and here again these are the results that we just mentioned above.

At the Sinaloa, Elia vein they intersected several intervals of silver and gold mineralization, confirmed further delineated mineralization below the Sinaloa vein and also found that the mineralization is open to the west for potential mineral resource expansion and follow-up expansionary drilling. Also confirmed the presence of down dip extension potential as was reported in their release from June of 2024 and there you can see the results from the Sinaloa, Elia vein. Again these are the same ones we took a look at in the beginning here also expansionary drilling at Santa Teresa where they found significant intercepts both in the eastern and western unexplored projections of the vein.

This followed on the June 2024 results and confirmed the vein continuity and mineralization and a review of the exploration upside has also identified multiple targets for further resource expansion, a long strike, and up and down dip and also in the description field is the link to this press release so certainly you can come here and click on any of the images there so you can take a closer look and see the full results so either case just wanted to make sure you knew they had the results out for further detail click on that link in the description field below and I hope you’re getting set for a great weekend thanks for being here and we will see you again next week
[tr:trw].


See more of Arcadia Economics on their Public Channel and the MPN Arcadia Economics channel.

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