Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE:6ZF0) is a silver-focused exploration company advancing a dual-asset strategy through two high-potential projects in North America: the Calico Silver Project in California, USA, and the Cinco de Mayo project in Chihuahua, Mexico. Both projects are situated in mining-friendly jurisdictions with robust infrastructure and a history of significant exploration work.
At Calico, Apollo Silver advances the Waterloo deposit through geological modeling, barite resource definition, and engineering studies. Calico hosts 110 Moz of silver (measured and indicated) and 51 Moz (inferred), with recent test work producing a 94.6 percent barite concentrate.
In Mexico, the Cinco de Mayo project offers rare optionality, featuring a historical inferred resource of 154 Moz silver equivalent (385 g/t) and a high-impact discovery opportunity at the Pegaso Zone. Under an option agreement with MAG Silver, Apollo is executing a 20,000-meter drill program to earn full ownership of the project.
Project locationsThe Calico Silver Project, located 15 km from Barstow, California, includes the adjacent Waterloo and Langtry properties. Calico hosts a combined resource of 110 Moz silver (measured and indicated, 100 g/t) and 51 Moz silver (inferred, 77 g/t). The shallow, laterally extensive deposit offers strong geologic continuity and a low 1.1:1 strip ratio, supporting a potential low-impact open-pit operation. Recent drilling confirmed a 95 percent conversion rate from inferred to measured and indicated resources at Waterloo.
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Apollo Silver is advancing two high-impact silver projects in premier North American jurisdictions—California and Mexico—offering investors a unique combination of scale, optionality, and leverage to silver and critical mineral demand.
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE: 6ZF0) is a silver-focused company advancing a dual-asset strategy centered on two high-impact projects in North America: the Calico silver project in California, USA and the Cinco de Mayo project in Chihuahua, Mexico. Both are located in mining-friendly jurisdictions with strong infrastructure and significant historical work.
Project locations
At Calico, Apollo Silver is advancing the Waterloo deposit toward development through geological modeling, barite resource definition, and engineering studies. Calico boasts 110 Moz of silver (measured and indicated) and 51 Moz of silver (inferred), and recent test work has produced a 94.6 percent barite concentrate, supporting the asset’s potential as a US critical minerals supplier.
In Mexico, Cinco de Mayo offers rare optionality with a historical inferred resource of 154 Moz silver equivalent (385 g/t), and a potentially game-changing discovery at the Pegaso Zone. The project is under an option agreement between Apollo Silver and MAG SIlver, wherein Apollo Silver will complete a 20,000-meter drill program to convert the option to an acquisition of the Cinco de Mayo. Apollo Silver’s strategy is underpinned by disciplined capital allocation, high-impact exploration, and a proven ability to acquire and unlock value from high-quality assets—following a model similar to Prime Mining. With no debt, strong institutional backing, and an experienced team, Apollo Silver is well-positioned to deliver scalable, discovery-driven growth in a rising silver and critical minerals market.
(Left to right) Drilling hole W22-RC008 and downhole surveying with an optical televiewer in drill hole WCC-RC-004B
The Calico silver project comprises two adjacent properties—Waterloo and Langtry—located in mining-friendly San Bernardino County, 15 km from Barstow, California. The combined resource at Calico includes 110 Moz of silver in the measured and indicated category (average grade: 100 g/t) and 51 Moz of silver in the inferred category with an average grade of 77 g/t. The deposit is shallow, laterally extensive, and exhibits excellent geologic continuity. A low strip ratio of 1.1:1 supports a potential open-pit operation with minimal environmental footprint. Drilling has demonstrated strong correlation between 2022 results and historical intercepts, underpinning a 95 percent conversion rate from inferred to measured and indicated categories at Waterloo.
Resources at Calico sit primarily on private land with vested mining rights, simplifying the path to permitting. Infrastructure is excellent: paved roads, power lines within 5 km, and proximity to the expanding Barstow rail terminal.
In addition to silver, Apollo Silver is evaluating Calico’s potential for gold and barite. Barite, a US critical mineral essential to oil and gas drilling, has demonstrated recoveries exceeding 94.6 percent purity in prior test work. A 1979 ASARCO historical estimate indicates 4.5 Mt of barite grading 13.4 percent. Ongoing 2025 work includes a barite resource estimate, investigating potential for additional gold mineralization, depending on results of preliminary work, followed up by a small drill program to test those findings.
Project location
Cinco de Mayo is a district-scale carbonate replacement deposit (CRD) system located in Chihuahua, Mexico along the same NW-SE structural trend that hosts some of the country’s largest silver and base metal deposits. The project was historically MAG Silver’s flagship asset, hosting a historical NI 43-101 compliant inferred resource of 154 Moz silver equivalent at an average grade of 386 g/t silver equivalent, including 132 g/t silver, 6.47 percent zinc, and 2.86 percent lead across the Jose Manto and Bridge Zone targets.
The site also includes the Pozo Seco deposit, which hosts an additional historical resource of 230,000 oz gold and 94 million pounds molybdenum, based on a 2010 technical report. Notably, a significant mineralized intercept—61 meters of massive sulphides—was drilled by MAG Silver in the Pegaso Zone beneath the known resource but never followed up due to social access issues.
Apollo Silver has secured an option to acquire the property from MAG Silver and is actively re-engaging with the local community to secure surface access to the property. A new, development-friendly ejido administration was elected in December 2024. The company is now pursuing a mutually beneficial and meaningful agreement with the local community for surface access rights to the Cinco de Mayo. The company will then execute a 20,000-meter drill campaign once access is secured. Under the option agreement with MAG Silver, Apollo Silver must secure access, drill 20,000 meters, and issue 19.99 percent of its common shares to complete its option to acquire Cinco de Mayo. Priority targets include Pegaso and expansion zones at Jose Manto. Metallurgical studies and engineering reviews are being considered as part of a future resource update.
A venture capitalist with over 30 years of operational experience, Andrew Bowering has raised over $500 million in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium, and he is a director and executive advisor to Prime Mining.
Chris Cairns is a CPA, CA and brings more than 13 years of experience working in the finance and mining industries. He obtained his designation while at PwC, working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as controller and CFO of two publicly listed mining exploration companies listed in Canada and the United States.
Amandip Singh is a geologist and mining professional with over 15 years of experience in the mining industry, finance and academia. Most recently he was vice-president, corporate development for West Red Lake Gold Mines, where he was involved in the corporate turnaround and acquisition of the company’s flagship Madsen Mine project. He was previously with GT Gold as part of the management team that saw the Saddle North copper-gold porphyry project advance from discovery to eventual acquisition by Newmont Mining in a transaction valued at USD $311 million.
Rona Sellers is an experienced governance professional with more than 13 years of experience in corporate and securities law. Previously, she was VP compliance and corporate secretary at Maple Gold Mines, and previous to that she held corporate secretarial roles at publicly traded companies listed in Canada and the United States.
With over 20 years experience leading resource focused technical programs and teams, Isabelle Lépine brings extensive knowledge in mineral resource management to Apollo. Her significant experience ranges across the advanced stages of the resource development cycle through to mining. Most recently, she was director of mineral resources at Stornoway Diamonds.
Advancing two significant silver projects in the US and Mexico
Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce the appointment of Mr. Ross McElroy as President and CEO, effective immediately, succeeding Mr. Andrew Bowering, who will remain as Chair of the Board.
Mr. McElroy joins Apollo following the successful acquisition of Fission Uranium, a company he co-founded and eventually led as CEO, by Paladin Energy in a $1.14 billion transaction.
Mr. McElroy is a professional geologist with over 38 years of mining industry experience, both in operational and corporate roles, having worked with major, mid-tier, and junior mining and exploration companies. His extensive international background spans from grassroots exploration to development to mining operations. He has played a key role in the discoveries of numerous world-class uranium and gold orebodies, several of which have been advanced to development and mining operations. His accomplishments have earned widespread recognition, including being named The Northern Miner's "Mining Person of the Year" (2013), and receiving PDAC's prestigious "Bill Dennis Award" (2014).
Mr. McElroy holds a Bachelor of Science degree with a specialization in Geology from the University of Alberta, and is a registered professional geologist in Saskatchewan, British Columbia, Nunavut, and the Northwest Territories.
"I am excited to be joining Apollo as its new President and CEO at such a pivotal time in the Company's growth and development ," said Mr. McElroy. " Apollo is backed by a strong portfolio of silver assets and a highly capable team with a proven track record. I'm eager to build on that foundation and drive the Company toward its next phase of growth. I see a major opportunity to unlock significant value for shareholders as the Company advances towards becoming a leading silver developer in the Americas ."
Mr. Bowering added, " I am looking forward to working closely with Ross. Our ability to attract someone with Ross' expertise, energy and track record of value creation speaks volumes about the opportunity at Apollo. I believe he will have a transformative impact on the Company's future and all stakeholders will benefit greatly ."
Grant of Options
In connection with his appointment, Mr. McElroy has been granted an aggregate of 2,500,000 incentive stock options (the " Options ") pursuant to the Company's Omnibus Incentive Plan. The Options are exercisable at a price of $0.315 per common share, have a term of five years, and will vest over a 24-month period: one-third on the grant date, one-third after 12 months, and the balance after 24 months.
About Apollo Silver Corp.
Apollo has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Bowering
Chairman
For further information, please contact:
Andrew Bowering
Chairman
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation the statements regarding the Company's future growth, development plans, potential to unlock shareholder value, and expectations regarding Mr. McElroy's impact on the Company and its stakeholders. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .
News Provided by GlobeNewswire via QuoteMedia
During a recent silver-focused webinar, Sprott (TSX:SII,NYSE:SII) founder Eric Sprott, former Hecla Mining (NYSE:HL) CEO Phil Baker and technical analyst Michael Oliver joined host Simon Catt of Arlington Group to unpack what’s driving silver’s sluggish performance, and whether a reversal could be on the horizon.
The panelists explored silver’s shifting applications, the impact of macro forces like Bitcoin speculation and why some investors see today’s dynamics as a potential launchpad for silver’s next big move.
The silver price surged in 2024, rising from around US$22 per ounce at the start of the year to nearly US$35 by the end of October. Since then, silver has largely stayed in the US$30 to US$32 range, briefly breaking US$34 mark in March.
The metal has seen some support in 2025 due to instability in global financial markets caused by US President Donald Trump’s tariffs and the threat of reciprocal import fees against key trading partners.
These foreign policy shifts by the world’s largest economy have created uncertainty for investors who have been increasingly looking to traditional safe havens like silver and gold to de-risk their portfolios.
However, today's tariff turmoil overshadows a fundamental shift in the silver market over the past several years, which has seen industrial demand growth start to outpace traditional investment demand.
The most notable demand increase has been due to the energy transition and silver’s use in solar panels.
While firms like Goldman Sachs (NYSE:GS) have predicted that industrial demand will wane over the next few years, Catt's panelists presented different points of view. Sprott said there will be further demand from the electric vehicle (EV) market as producers look to solid-state batteries, which are not only safer, but also quicker to charge.
“I think (solid-state batteries) will bring back EVs to being viewed as economic," he said. "Plus the whole processing of solar panels and generating electricity more and more inexpensively over time, it’s just going to make the demand for silver continue to rise here when we already have a shortfall,” he told listeners.
Baker pointed out that solar currently makes up 29 percent of silver's total 1.2 billion ounces of annual demand, and noted that if that were to disappear, it would have a massive impact on the silver market. However, he also said that even if there were a significant policy shift in the US, there would still be considerable demand for solar worldwide.
“Even in the US, the policy really is 'all of the above' — all forms of energy. So I’m not concerned about solar cells diminishing. Could they go flat? Yeah, that’s fine. Flat at 300 million ounces? That’s great demand for silver,” he added.
While most solar demand comes from China, the panelists also discussed India's growing role in the sector. The country has recently been working to increase domestic production of solar panels.
“(Prime Minister Narendra) Modi made a policy decision a year ago to grow the solar industry in India. So in India, only about 10 percent of their demand for silver is used for industrial purposes. In China, it’s 90 percent, and so what you’re going to have in India is you’re going to see their solar panel growth skyrocket,” Baker said.
Of course, demand isn’t the only factor influencing the silver industry.
Supply constraints have helped push the market into a structural deficit over the past several years.
Silver is primarily a by-product metal in the production of copper, nickel, zinc and gold, which makes it highly dependent on dynamics in those markets. As Baker pointed out, silver isn’t a significant source of revenue.
“So even if the price of silver rises significantly, they’re not going to change their operations because it’s not going to matter for a big copper producer,” he explained. Unless there are dramatic production swings for those commodities, supply and demand are unlikely to come into balance in the near term.
Over the past year, silver has tested US$35 twice. Using technical analysis, Oliver compared this to how the silver price tested resistance at the US$26 level three times before breaking through.
What he's seeing in momentum indicators now is similar to what happened at that time. In the lead up, momentum was flat, but once silver hit US$26, momentum saw an immediate 10 percent gain.
"It came back up a third time to US$26, watch out. It blew your head off," he said. "Okay, you go back to US$35 again, and the price says, 'You better watch out, I’m at a triple top, and if I go to US$36, it’s a triple-top breakout.'"
“The only issue is now which week punches up there to that 10 percent over level. I think — who knows, it might even be tomorrow, but I think soon we'll get up there,” Oliver said.
Silver price, May 15, 2022, to May 16, 2025.
Chart via the Investing News Network.
Oliver went on to examine the gold-silver ratio, which he said could be suggesting a breakout is overdue. Traditionally, the ratio falls between 40 and 80 to 1, but it's now closer to 100 to 1.
“I bet both of these metrics will pretty much coincide in terms of upturn, meaning not only a net price upturn in silver, but a relative performance upturn in silver versus gold, and I think that’ll shock people more than anything … especially if all of a sudden silver wakes up in a shocking, rapid way," Oliver noted.
"That’s going to surprise most investors. I think it’s about to happen, the technicals are ripe."
Addressing manipulation, Sprott suggested silver has been manipulated for the last half century.
"I look at silver as a market that's been manipulated for 50 years. We have about eight to 12 major international banks who are short over 500 million ounces of silver on the COMEX, have always been short that product," he said.
"They always make stabs at knocking it down, trying to cover, but the shorts go back up."
However, Sprott said as the price has gone from the US$20 range to closer to US$35 it has become more difficult for these banks to maintain their positions. “The same thing is true in gold, but in gold we all know that in the last year, when it broke through US$2,000 (per ounce) for the fourth time, it was over for the commercial banks,” he noted.
He went on to discuss how trading on the COMEX seems contrary to what is going on in other markets, saying that when international markets are open, gold and silver prices trade higher, but when the COMEX opens, they tend to fall.
“If you just traded COMEX and you bought silver at the starting value, it’d be worth about 2 or 3 percent of what it started at, whereas if you bought it in non-COMEX hours, it would be worth 600 percent more," Sprott said.
In his view, the suppression is "obvious." However, he predicts that the gold-silver ratio will correct in the near future, and the silver price will start to outperform gold.
For his part, Sprott sees the silver price going much higher.
“I’m sure we’re going to be through US$50. It used to trade at 15 to 1 to the price of gold. At today’s price of gold, that would be over US$200. I have no reason to think we’re not going there,” he said.
Oliver had a similar price prediction.
“I think the first surge could get you well above US$50. I think you’d get up in the US$60s and US$70s before you even pause, and I think it could occur rapidly,” he said. Oliver also explained that cryptocurrencies like Bitcoin aren’t an alternative and appear more like a speculative bubble. Given the size of the US debt, Treasuries aren't as attractive to investors, which is causing further compression in monetary metals markets.
Although Baker didn’t provide a price prediction, he did express support for a market driven by supply and demand fundamentals, saying that “this is a very, very unique time.”
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Following its business combination with Summa Silver, Silver47 Exploration is now uniquely positioned as a leading US-focused silver explorer and developer. With a diversified portfolio of high-grade silver projects in Alaska, Nevada and New Mexico, and an inferred resource base of over 236 million ounces of silver equivalent, the company offers significant exposure to rising silver demand amid a projected global supply deficit.
Silver47 Exploration (TSXV:AGA,OTCQB:AAGAF) is a US-centric silver company with a portfolio of high-grade assets located in mining-friendly jurisdictions. Silver47 recently underwent a transformative merger with Summa Silver (TSXV:SSVR), positioning the combined entity as a premier US-focused high-grade silver explorer and developer.
This strategic consolidation brings together Silver47's flagship Red Mountain VMS project in Alaska with Summa's high-grade Hughes project in Nevada and Mogollon project in New Mexico.
The merger, announced on May 13, 2025, is structured as an at-market transaction, wherein Summa shareholders will receive 0.452 common shares of Silver47 for each Summa share held. Post-transaction, existing Silver47 and Summa shareholders will own approximately 56 percent and 44 percent of the combined company, respectively. The unified company will continue under the name "Silver47 Exploration Corp." and will be led by an experienced management team, including Gary R. Thompson as executive chairman, and Galen McNamara as CEO.
This merger significantly enhances Silver47's resource base, consolidating approximately 10 million ounces (Moz) of indicated silver equivalent (AgEq) resources at an average grade of 333 grams per ton (g/t) AgEq and 236 Moz of inferred AgEq resources at 334 g/t AgEq across its US projects. The combined entity is well-capitalized, with approximately C$10 million in cash and a concurrent C$5 million private placement underway, positioning it to aggressively advance its exploration and development programs.
Silver47's strategy is focused on aggressive drilling to expand resources, updating economic studies, and pursuing accretive M&A opportunities to build toward its long-term vision of a 1 billion ounce AgEq resource platform.
The Red Mountain VMS project is the company’s flagship asset, located approximately 100 kilometers south of Fairbanks, Alaska. This project is a polymetallic VMS deposit, rich in silver, gold, zinc, copper and lead. As of January 2024, Red Mountain holds an NI 43-101 inferred resource of 15.6 million tonnes (Mt) at 7 percent zinc equivalent, or 168.6 Moz of AgEq at a grade of 335.7 g/t AgEq. The project is located in a mining-friendly jurisdiction on state-managed lands with reasonable access to infrastructure.
The project’s scale is significant with defined mineralization over a 60 km trend, and exploration upside is robust with an additional target of 50 to 75 Mt @ 300 to 400 g/t AgEq (equivalent to over 500 Moz AgEq).
Recent 2024 drilling at the Dry Creek and West Tundra Flats zones intersected high-grade mineralization, including:
Located in the historic Tonopah silver district, the Hughes project covers 5,500 acres along the prolific Walker Lane trend. The project hosts both indicated (10.3 Moz AgEq @ 333 g/t) and inferred (32.9 Moz AgEq @ 421 g/t in situ; 2.7 Moz AgEq @ 68 g/t from tailings) resources.
Drill results include:
The project benefits from infrastructure, road access and private land ownership, supporting near-term development opportunities.
The Mogollon project is a large, underexplored vein field in Catron County, New Mexico. Inferred resources total 32.1 Moz AgEq @ 367 g/t from only 2.7 Mt, covering a small portion of the 77 km of known vein strike length.
Drilling has returned intercepts such as:
The project’s combination of high-grade intercepts, extensive targets and strong metallurgical recoveries (97 percent silver, 98 percent gold) underscores its growth potential.
Galen McNamara is the co-founder of Summa Silver, with 20 years of exploration and capital markets experience. He is a former senior project manager at NexGen Energy and PDAC Bill Dennis Prospector of the Year Award recipient.
Gary Thompson is a veteran geologist and company builder. He is the chairman and CEO of Brixton Metals, and previously led Sierra Geothermal Power to a successful acquisition.
Martin Bajic is a CPA with more than a decade of financial leadership experience, serving as director, CFO or consultant to numerous public companies trading on the TSX venture with a focus in the natural resource sector.
Alex Wallis is an exploration geologist with over 15 years of experience managing international mineral exploration projects.
Chris York is an economic geologist with expertise in narrow vein systems. He was previously the exploration manager at Klondex Gold & Silver.
Giordy Belfiore formerly led IR and capital markets for Summa Silver, helping raise over $50 million since 2020.
HIGHLIGHTS:
Several pXRF silver target locations have been identified across the project area, with 37 surface samples returning elevated silver results of greater than 50g/t Ag, including areas approximately 150m south of the historic Elizabeth Hill mine site and approximately 300m north of the mine, including a highest recorded silver value of 920g/t Ag.
Executive Director Bruce Garlick commented:
“This is an extremely exciting observation by our field team. The identification of high-grade silver values in areas north and south of the historic mine presents compelling new targets. We will now focus further field work in these areas to determine the potential for extensions to the known mineralisation. Coupled with our upcoming drilling program, due to commence in the coming weeks, this once again highlights the significant exploration potential at Elizabeth Hill.”
Figure 1 - Locations of elevated Silver (Ag) readings via pXRF
Table 1 – pXRF highlights (results greater than 100g/t Ag) at Elizabeth Hill
The high-grade silver results (>50g/t Ag) are typically associated with iron-rich, gossanous-like float material, which may be indicative of mineralised extensions to the known system.
Further work is now planned to investigate these encouraging areas, including:
1. Additional surface sampling;
2. Metal detector surveys to identify more material in the vicinity; and
3. Targeted trenching to identify potential mineralised structures at surface.
The samples collected have been dispatched to the lab for analytical testing with assay results expected in 6-8 weeks.
The Company cautions that while pXRF readings provide a useful indication of mineral content and approximate grades, they are not a substitute for laboratory-derived assay grades. All samples will be sent to an independent laboratory for accurate analysis, with assay results expected in 6-8 weeks. Portable XRF results reported in this announcement are considered semi-qualitative.
Errawarra will continue to update the market as further exploration results become available.
Click here for the full ASX Release
This article includes content from Errawarra Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") reminds its shareholders about the Company's upcoming Annual General Meeting of Shareholders (the "2025 AGM") scheduled to take place on Tuesday, May 20, 2025, at 10:00 a.m. (Pacific Time) at the offices of Bennett Jones LLP, located at Suite 2500 - 666 Burrard Street, Vancouver, British Columbia V6C 2X8.
The Board of Directors of First Majestic unanimously recommends that shareholders vote FOR all the resolutions that have been put forward for the 2025 AGM.
The record date for notice and for voting at the 2025 AGM was March 31, 2025. Only shareholders as of the record date will be entitled to vote at the meeting. Shareholders as of the record date are encouraged to vote before the proxy voting deadline on Thursday, May 15, 2025 at 10:00 a.m. (Pacific Time).
If you are a registered shareholder of the Company and are unable to attend the 2025 AGM, please read, sign and date the form of proxy for the meeting (the "Proxy") and deposit it with Computershare Investor Services Inc. ("Computershare") by courier or mail at 100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1, Attention: Proxy Department, or by facsimile at 1-866-249-7775 (toll-free in North America) or 1-416-263-9524 (international) by 10:00 a.m. (Pacific Time) on Thursday, May 15, 2025, or at least 48 hours (excluding Saturdays, Sundays and holidays) before any postponement or adjournment of the meeting). Alternatively, registered shareholders may vote by telephone (1-866-732-8683) or online (www.investorvote.com) using the control number listed on the Proxy that they received from Computershare.
Non-registered shareholders may participate in the 2025 AGM (either themselves or through a proxyholder, or through intermediaries using the voting instruction form). Alternatively, some non-registered shareholders may be able to vote by telephone or online and should refer to the voting instruction form that they received for further details and instructions.
EVERY VOTE COUNTS
Voting is quick and easy. First Majestic has retained Kingsdale Advisors to provide shareholders with assistance in voting their shares, and they may be reached by telephone at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.
To obtain current information about voting your First Majestic common shares, and for copies of the materials for the 2025 AGM, please visit www.firstmajesticagm.com, or scan the QR code:
2025 AGM Materials QR code
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ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas 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, U.S.A.
First Majestic is proud to own and operate 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 online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward-Looking Statements
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HIGHLIGHTS:
Iltani Managing Director Donald Garner commented:
“Holes ORR073 to ORR077 have continued to deliver excellent results from our Orient West JORC Infill drilling program and we continue to be excited by what we see, with results validating our belief that Orient is Australia’s largest and highest-grade known silver-indium deposit.
ORR075 intersected 64m @ 123.6 g/t Ag Eq. from 4m downhole and was drilled 45m up-dip of the intersection of 76m @ 118.5 g/t Ag Eq. from 24m in ORR070. This recent intersection contained multiple high-grade zones including:
ORR073 was drilled 100m down-dip of ORR072 and intersected multiple high-grade zones, which remain open down-dip, including:
Drilling intersected high-grade mineralisation in ORR076 including 15m @ 116.6 g/t Ag Eq. from 141m inc. 2m @ 347.6 g/t Ag Eq. from 150m downhole and in ORR077 including 6m @ 251.7 g/t Ag Eq. from 95m inc. 2m @ 588.6 g/t Ag Eq. from 97m downhole.
Drilling continues at Orient, with both RC and diamond programs underway, and we will report further results through May and June as we work towards initial JORC resources for Orient West and East.”
Figure 1 Orient West RC Drilling (ORR087)
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