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First Majestic Silver Corp.
Summary
| Project: | Santa Elena | |
|---|---|---|
| Deposit: | Santa Elena | |
| Location: | Mexico | |
| Commodities: | Silver-Gold | |
| Date: | 3/30/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-3-2020: First Majestic Silver Corp. announces a Resource Estimation report for its Santa Elena deposit at the Santa Elena project. Annual statement of mineral resources and ore reserves. FIRST MAJESTIC SILVER CORP. (the "Company" or “First Majestic”) i | |
| Resources: | (Reserve, P+P): 3.616Mt @ 83g/t Ag, 1.22g/t Au | |
| CP/QP: | [Resources]: Ramon Mendoza Reyes (Internal) | |
| ABSTRACT: | FIRST MAJESTIC SILVER CORP. (the "Company" or “First Majestic”) is pleased to announce its updated Mineral Reserve and Resource estimates for the San Dimas, Santa Elena and La Encantada producing mines as well as its existing non‐material mineral assets in Mexico with an effective date of December 31, 2019. Proven and Probable Mineral Reserves (“P&P”) at the Company’s three producing silver mines totaled 85.1 million ounces of silver and 733,000 ounces of gold, or 146.5 million silver equivalent ounces, representing a 4% decrease compared to previous estimates Measured and Indicated Mineral Resources (“M&I”) for the Company’s seven properties increased by 3% to 267.8 million silver equivalent ounces primarily due to the upgrading of 3.3 million ounces of silver and 219,000 ounces of gold, or 21.6 million silver equivalent ounces, from Inferred to Indicated Resources at Santa Elena’s Ermitaño project The following table shows the total tonnage mined from each of the Company’s producing properties during 2019, including total ounces of silver, silver equivalent ounces and tonnage mined. A portion of the production from each mine came from material other than Reserves, as set out below under the heading “Material Mined from Areas Not in Reserves”. | |
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