The Prospector News

First Majestic Announces High-Grade Drill Results from its 2019 Exploration Program at the Ermitaño project within the Santa Elena land package

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

First Majestic Announces High-Grade Drill Results from its 2019 Exploration Program at the Ermitaño project within the Santa Elena land package

 

 

 

 

 

FIRST MAJESTIC SILVER CORP. (NYSE:AG) (TSX:FR) is pleased to announce the results from its 2019 exploration program at the Ermitaño project located approximately four kilometres away from the Company’s producing Santa Elena operation in Sonora, Mexico.  The program focused on infill drilling to upgrade a large existing Inferred Resource into Indicated Resources to support detailed mine design before construction. 

 

“Today’s exploration results bring us another step closer to ensuring a longer mine life for Santa Elena,” stated Keith Neumeyer, President and CEO of First Majestic. “Not only has this program increased our confidence in the resource but we also encountered significant intercepts of high-grade gold which we expect will improve the overall grade of the resource. Next month we plan to announce an updated resource estimate for the Ermitaño project which will include these high-grade drill results.”

 

DRILLING HIGHLIGHTS

 

The 2019 exploration program totalled 33,767 metres in 103 drill holes primarily consisting of infill holes designed to increase the confidence and overall size of the resource.  Highlights from the program include the following high-grade intercepts:

 

  • EW-19-67 – 10.8 metres grading 1,106 g/t AgEq (12.84 g/t Au and 46 g/t Ag)
  • EW-19-74 – 6.4 metres grading 1,164 g/t AgEq (9.46 g/t Au and 383 g/t Ag)
  • EW-19-85 – 2.4 metres grading 3,068 g/t AgEq (31.63 g/t Au and 459 g/t Ag)
  • EW-19-91 – 13.0 metres grading 1,003 g/t AgEq (11.61 g/t Au and 45 g/t Ag)
  • EW-19-103 – 7.7 metres grading 1,462 g/t AgEq (16.37 g/t Au and 111 g/t Ag)
  • EW-19-111 – 4.5 metres grading 1,562 g/t AgEq (17.98 g/t Au and 79 g/t Ag)
  • EW-19-113 – 9.1 metres grading 1,302 g/t AgEq (14.22 g/t Au and 130 g/t Ag)

 

As previously disclosed in the Company’s Annual Information Form on March 31, 2019, the Ermitaño project contains an Indicated Resource of 704,000 tonnes grading 389 g/t AgEq (4.05 g/t Au and 65 g/t Ag) for 8.8 million AgEq ounces and an Inferred Resource of 4,637,000 tonnes grading 329 g/t AgEq (3.36 g/t Au and 59 g/t Ag) for 49.0 million AgEq ounces.  Furthermore, the Company is expecting to release an updated AIF and resource estimate for the Ermitaño project at the end of the first quarter of 2020 which will include the 2019 drill results with final assay cut-off’s as of December 31, 2019.

 

SUMMARY OF COMPOSITES

 

At the end of 2019, 157 holes were completed totalling 55,719 metres on the property.  The following table summarizes the most significant drill intercepts of the 2019 exploration program:

 

 

Hole ID From To Length
(m)
Estimated
True Length
(m)
Ag g/t Au g/t Ag Eq g/t
EW-19-53 216.7 225.6 8.9 8.2 73 4.19 419
EW-19-55 99.7 114.1 14.4 9.6 57 8.20 734
including 101.7 104.7 3.1 2.0 190 30.82 2,733
EW-19-57 456.8 457.7 0.9 0.6 287 8.91 1,022
EW-19-62 394.5 396.3 1.8 1.3 65 7.23 662
EW-19-66 83.9 89.2 5.2 4.2 18 6.03 515
including 87.6 89.2 1.6 1.3 53 20.23 1,722
EW-19-67 96.0 122.3 26.3 10.8 46 12.84 1,106
including 102.5 103.5 1.0 0.4 86 41.47 3,508
including 108.7 109.4 0.7 0.3 73 27.40 2,333
including 112.9 113.9 1.0 0.4 85 29.12 2,487
including 113.9 114.9 1.0 0.4 88 29.55 2,526
EW-19-72 173.2 179.8 6.6 4.1 38 5.99 532
including 174.9 175.7 0.8 0.5 68 18.41 1,587
EW-19-74 360.1 369.3 9.2 6.4 383 9.46 1,164
including 360.9 361.6 0.7 0.5 865 16.75 2,247
including 361.6 362.4 0.8 0.6 982 21.03 2,717
including 368.6 369.3 0.7 0.5 301 16.48 1,661
EW-19-75 304.3 305.3 1.1 0.9 100 10.17 939
EW-19-77 212.8 214.2 1.4 1.2 102 5.46 552
EW-19-78 236.2 244.1 7.9 5.1 200 2.76 428
EW-19-80 225.6 234.5 9.0 5.3 156 5.11 578
EW-19-85 232.2 236.1 3.9 2.4 459 31.63 3,068
including 232.2 233.2 1.0 0.6 1,224 88.40 8,517
including 233.2 233.7 0.5 0.3 584 33.51 3,349
EW-19-87 198.5 202.6 4.2 2.9 95 6.99 672
EW-19-91 113.8 138.0 24.3 13.0 45 11.61 1,003
including 117.4 126.4 8.9 4.8 79 27.54 2,350
EW-19-92 124.6 132.8 8.3 4.6 69 7.72 706
including 125.6 129.4 3.8 2.1 98 13.32 1,196
EW-19-93 168.2 173.1 4.9 3.7 84 4.50 456
EW-19-96 104.9 107.0 2.1 1.9 75 29.15 2,480
including 104.9 106.2 1.3 1.2 83 41.92 3,542
EW-19-98 148.0 156.8 8.8 5.9 111 9.43 889
including 150.3 150.9 0.5 0.4 245 35.81 3,199
EW-19-99 84.0 87.5 3.5 2.1 64 9.11 816
including 85.0 86.6 1.6 1.0 103 18.67 1,643
including 180.6 182.5 1.9 1.2 145 14.06 1,305
EW-19-102 226.1 235.1 9.0 5.0 115 4.50 487
EW-19-103 112.4 125.9 13.5 7.7 111 16.37 1,462
including 114.5 114.9 0.4 0.2 90 33.49 2,853
EW-19-109 133.0 145.4 12.4 9.5 45 5.18 472
including 134.6 135.5 0.9 0.7 53 11.57 1,008
including 136.3 137.5 1.2 0.9 57 12.77 1,111
including 142.4 143.0 0.5 0.4 81 11.17 1,003
EW-19-111 82.2 88.3 6.2 4.5 79 17.98 1,562
including 82.7 83.5 0.8 0.6 182 32.32 2,848
including 83.5 84.5 1.0 0.7 107 40.48 3,447
EW-19-113 104.4 121.5 17.1 9.1 130 14.22 1,302
including 109.9 110.4 0.5 0.3 1,030 150.72 13,465
including 113.0 118.9 5.9 3.1 187 23.17 2,099
EW-19-114 109.5 128.5 19.0 8.0 71 5.85 554
including 111.4 112.1 0.7 0.3 81 10.67 961
EW-19-115 254.6 265.7 11.2 7.4 103 7.45 717
including 254.6 255.6 1.0 0.7 294 25.75 2,418
including 260.5 262.3 1.8 1.2 104 17.28 1,529
EW-19-116 233.4 239.4 6.0 3.9 232 4.32 589
including 236.7 237.4 0.8 0.5 152 11.42 1,094
EW-19-117 257.8 262.7 5.0 3.2 337 4.99 749
EW-19-119A 226.8 233.8 7.0 5.4 70 10.81 962
including 227.2 228.0 0.8 0.7 180 47.66 4,111
including 229.1 230.1 1.0 0.8 65 14.09 1,227
EW-19-120 135.8 148.7 13.0 8.0 109 7.64 739
including 136.5 141.9 5.3 3.3 176 16.88 1,569
EW-19-123 212.0 221.3 9.4 4.6 144 6.60 689
including 213.4 216.0 2.5 1.2 198 13.24 1,290
including 220.5 221.3 0.9 0.4 205 16.20 1,541
EW-19-124 270.5 279.0 8.5 3.0 266 7.10 852
including 272.3 274.2 1.8 0.7 967 25.81 3,097
EW-19-127 273.3 284.3 11.0 7.2 209 7.93 863
including 282.9 283.7 0.8 0.5 597 25.36 2,689
EW-19-129 345.0 349.5 4.5 2.6 177 5.12 600
including 456.8 457.2 0.4 0.2 139 28.97 2,529
including 362.1 362.9 0.8 0.5 753 25.50 2,856
ESTW-19-04 392.8 409.3 16.5 9.7 53 5.32 492
including 397.5 398.5 1.0 0.6 63 12.65 1,106
ESTW-19-05 483.0 506.0 23.0 11.0 86 6.21 599
including 501.9 504.2 2.3 1.1 213 35.69 3,157

 

Silver equivalent (AgEq) is calculated using a gold to silver ratio of 1:82.5 and takes into consideration metal prices and metallurgical recoveries.

 

After detailed geological logging, all drill core samples were cut in half on site by diamond saw. One half of the core was submitted to SGS Laboratories in Hermosillo, Mexico for sample preparation and SGS Laboratories in Durango, Mexico for sample analysis. The remaining half core is retained on-site for verification and reference purposes.

 

PREPARING FOR DETAILED MINE DESIGN AND INITIAL PRODUCTION

 

In 2020, the Company is planning to drill approximately 15,000 metres in 50 drill holes. This drilling will focus on infill of the main resource area, including resource expansion in the eastern Ermitaño vein area, the Aitana vein, and several nearby newly identified targets. 

 

In addition, the Company is currently working on several engineering studies, including geotechnical and geohydrological investigations, a detailed metallurgical testing and a series of trade-offs analysis to define the materials handling infrastructure. These studies will support a pre-feasibility study expected to be released in the fourth quarter of 2020.

 

Furthermore, the Company is expected to complete 3,800 metres of underground development in 2020. This development program, which began in late 2019, is designed to complete the main access ramp to reach the mineralized area and prepare five production levels (shown above in Figure 2) with all associated mining infrastructure. Production from Ermitaño is expected to displace the current feed from the old heap pads which is currently making up approximately 40% of the feed to the mill.

 

Mr. Ramon Mendoza Reyes, Vice President of Operations and Technical Services for First Majestic, is a “qualified person” as such term is defined under NI 43-101, and has reviewed and approved the technical information disclosed in this news release.

 

About First Majestic Silver Corp

 

First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine. Production from these mines are projected to be between 11.8 to 13.2 million silver ounces or 21.5 to 24.0 million silver equivalent ounces in 2020.

 

Figure 1: Map of Santa Elena’s complex of land holdings is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fc55862-dab9-4615-a393-91a625ddb900

 

Figure 2: Ermitaño Splay Grade x Thickness Long Section is available at

 https://www.globenewswire.com/NewsRoom/AttachmentNg/989a8065-70e5-4d1c-9c9a-11926682a58e

 

 

Posted February 25, 2020

Share this news article

MORE or "UNCATEGORIZED"


Altius Commits to $21 Million Investment in ARR

Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) is pleased... READ MORE

December 2, 2022

Midland Completes the Second Tranche of a Private Placement Totalling $3.5M

Midland Exploration Inc. (TSX-V: MD) is pleased to announce that ... READ MORE

December 2, 2022

Chibougamau Independent Mines Drilling at Berrigan Intersects Wide Mineralized Zones

Chibougamau Independent Mines Inc. (TSX-V:CBG)  (FRA:CLL1) (OTC:... READ MORE

December 2, 2022

Apollo Reports First Assay Results From Phase 2 Drilling

Silver Mineralization Continues to Expand Beneath Current Resourc... READ MORE

December 2, 2022

Orezone Declares Commercial Production at the Bomboré Gold Mine

Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF)  is pleased t... READ MORE

December 2, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News