First Majestic drills 10.87g/t gold over 7.88 metres at San Dimas mine, Mexico

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First Majestic Silver Corp. [NYSE-AG; TSX-AG; FSE-FMV] released positive drilling results from its 2024 exploration program at the San Dimas silver/gold mine located in Durango state, Mexico. The drill program was designed to test new silver and gold mineral targets, add mineral resources, and convert mineral resources to mineral reserves.

“We are very pleased with the positive exploration results that we continue to achieve at San Dimas in 2024,” stated Keith Neumeyer, president and CEO. “The recent drilling has continued to highlight San Dimas’s 71,867-hectare prospectivity through the intersection of significant gold and silver mineralization. Drilling to convert inferred to indicated mineral resources at Perez, Santa Regina and Elia has, in multiple cases, returned better-than-expected results. Resource expansion drilling has confirmed the Perez vein remains open to the east and west, the Sinaloa mineralized system is open down dip, and the Santa Teresa mineralization is open for approximately one kilometre to the west.”

Select highlights from the company’s continuing exploration program at San Dimas include the following high-grade intercepts.

Perez vein highlights (true width): PE24_297 returned 7.36 g/t gold and 1,129 g/t silver over 6.72 metres. PE24_309: 10.87 g/t Au and 1,034 g/t Ag over 7.88 m. PE23_294: 1.99 g/t Au and 440 g/t Ag over 6.08 m.

Sinaloa-Elia vein system highlights (true width): SIN24_092: 39.28 g/t Au and 1,905 g/t Ag over 1.76 m. EL24_266: 20.41 g/t Au and 1,702 g/t Ag over 2.15 m. EL24_265: 10.46 g/t Au and 879 g/t Ag over 0.92 m.

Santa Regina vein highlights (true width): SRE23_287: 13.24 g/t Au and 1,501 g/t Ag over 0.94 m. SRE23_282: 9.44 g/t Au and 1,069 g/t Ag over 1.34 m. SRE23_293: 9.27 g/t Au and 849 g/t Ag over 1.52 m.

Santa Teresa vein highlights (true width): STA24_029: 4.86 g/t Au and 511 g/t Ag over 2.18 m. STA23_028: 4.10 g/t Au and 79 g/t Ag over 2.09 m.

Exploration drilling at San Dimas intersected significant gold and silver mineralization in multiple veins focused in the central and western regions of the property. Four areas are highlighted here: Perez, Sinaloa-Elia, Santa Regina and Santa Teresa.

Drilling for the Perez vein extended gold and silver mineralization up dip on several ore shoots, further defining a recently identified mineralized shoot to the east. Step-out drilling in the easternmost extension of the vein confirmed vein continuity. The Perez vein exploration potential remains open both to the east and west. Select drill hole assay grades and true width intervals of the vein intersections are highlighted below: PE24_297: 7.36 g/t Au and 1,129 g/t Ag over 6.72 m. PE24_309: 10.87 g/t Au and 1,034 g/t Ag over 7.88 m. PE23_294: 1.99 g/t Au and 440 g/t Ag over 6.08 m. PE24_289: 3.26 g/t Au and 381 g/t Ag over 2.79 m.

At the historic Sinaloa-Elia vein system located in the western portion of the property, drilling intersected several intervals of gold and silver mineralized veins. Resource conversion drilling confirms and further delineates mineralization below the historic Sinaloa vein with several intercepts returning better-than-expected values. Expansionary drilling below historic mining at Elia intersected two significant vein intercepts, highlighting down-dip potential. Select drill hole assay grades and true width intervals of the Sinaloa-Elia vein system intersections are highlighted below:

SIN24_092: 39.28 g/t Au and 1,905 g/t Ag over 1.76 m. EL24_266: 20.41 g/t Au and 1,702 g/t Ag over 2.15 m. EL24_265: 10.46 g/t Au and 879 g/t Ag over 0.92 m.

Resource conversion drilling at Santa Regina has returned significant intercepts while locally growing the inferred mineral resource. Drill hole assay grades and true width intervals of the Santa Regina vein intersections are highlighted below:

SRE23_287: 13.24 g/t Au and 1,501 g/t Ag over 0.94 m. SRE23_282: 9.44 g/t Au and 1,069 g/t Ag over 1.34 m. SRE23_293: 9.27 g/t Au also returned and 849 g/t Ag over 1.52 m.

Expansionary drilling of the Santa Teresa vein has returned significant intercepts in the eastern and western extensions of the historic mine. Early results from the western extension drilling have confirmed vein continuity and prospectivity in this direction where approximately 1 km of strike length of potential remains untested. Drill hole assay grades and true width intervals of the Santa Teresa vein intersections are highlighted below:

STA24_029: 4.86 g/t Au and 511 g/t Ag over 2.18 m. STA23_028: 4.10 g/t Au and 79 g/t Ag over 2.09 m.

First Majestic owns and operates the San Dimas silver/gold mine, the Santa Elena silver/gold mine and the La Encantada silver mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon gold project located in northeastern Nevada, United States.

First Majestic owns and operates its own minting facility, First Mint LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase on-line.


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