Eastern Metals Ltd (ASX:EMS) (“Eastern Metals” or “the Company”) is pleased to announce that recent fieldwork programs across the 100%-owned EL6321, part of its Browns Reef Project (Figure 1), located in the southern Cobar Basin of NSW, have identified new zones of anomalous base metal mineralisation in the northern portion of the project area.
Commenting on the results, Eastern Metals’ Chief Executive Officer Ley Kingdom said: “These are highly encouraging initial results from our fieldwork programs, which have confirmed the ability of mapping and soil pXRF analysis to identify geochemical trends within EL6321.
“What’s even more encouraging is that these programs have highlighted new anomalous areas along the prospective Woorara Fault. These new areas include Kelpie Hill and Windmill Dam, located to the north and south of the known high-grade mineralisation zone at Evergreen.
“Kelpie Hill and Windmill Dam will be high-priority target areas for upcoming exploration programs, with IP surveys and drilling planned to test whether these represent a continuous zone of mineralisation between Pineview and Evergreen, and potentially, a northern extension of Evergreen.”
Figure 1: Location of EL6321, Browns Reef and the Pineview, Evergreen, Kelpie Hill & Windmill Dam prospects.
Browns Reef (EL6321) is an ‘advanced exploration project’ located 5km west of Lake Cargelligo in the southern Cobar Basin, NSW. It is a structurally controlled, polymetallic system extending along the inferred Woorara Fault and the Preston Formation and Clements Formation contact.
Fieldwork within EL6321 was undertaken in April 2024 and focused on the area between the Lachlan Valley Way Road and the North Uabba Road. The program was aimed at ground truthing and, where possible, adding to the auger and rotary air blast (RAB) hole data and geological mapping originally acquired by the Electrolytic Zinc Company of Australasia Ltd (EZ) in the 1970s.
Most paddocks in the area have been cropped or cultivated at some stage and outcrop is rare; however, gossanous material is commonly evident in stone raked piles throughout the entire strike length of the inferred Woorara Fault and Preston-Clements contact, defining a north-northwest trending zone.
In addition, ground reconnaissance revealed that gossanous float material was often present scattered along the approximate trend of the inferred mineralised zone; it is believed that significant displacement of this float due to farm activities has not taken place. In total, 28 samples of gossanous rock material were collected for assaying, comprising an average of 1-2kg per sample from multiple pieces of surface float.
A second field trip was conducted in mid-May 2024 utilising a SciAps X555 portable X-ray fluorescence analyser (pXRF) to conduct soil readings every 10 metres along east-west traverses. Line spacing was informed based on real-time results and the previous day’s visual assessment of geochemical dispersion of lead. The program was used to test the pXRF capabilities for detecting lead in soils and identifying geochemical trends across the different lithologies at Browns Reef.
The Tertiary basalt coverage within EL6321 is a considerable masking lithology that potentially covers portions of the northern extension of the Browns Reef mineralisation. The pXRF demonstrated that soil anomalism of lead (Pb) and arsenic (As) were readily traceable within the soil profiles and decreasing Pb results could effectively map out the basalt and Clements Formation contact zones. Rock chip samples paired with the pXRF readings were able to distinguish further prospective zones to the south and north of the Evergreen deposit.
Of particular note are two new prospective areas now designated “Kelpie Hill” and “Windmill Dam”. Kelpie Hill is located approximately 700 metres to the northwest of Evergreen, and Windmill Dam is 500 metres to the southeast.
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This article includes content from Eastern Metals, 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.
MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or "MAG Silver") reports that at its Annual General and Special Meeting (the " AGSM ") held on June 17, 2024, MAG's shareholders (the " Shareholders ") approved by majority: to elect all eight directors standing for election, to re-appoint Deloitte LLP as auditors of the Company, and to support the Company's approach to executive compensation.
Detailed results of the total shares voted at the AGSM are set out below.
| Motions: | |||||
| Nominees | Total Votes Cast | Total Votes For | Total Votes Withheld | % For | % Withheld |
| Peter Barnes | 58,366,832 | 53,951,708 | 4,415,124 | 92.44% | 7.56% |
| Tim Baker | 58,366,831 | 57,998,473 | 368,358 | 99.37% | 0.63% |
| Jill Leversage | 58,366,832 | 57,131,430 | 1,235,402 | 97.88% | 2.12% |
| Selma Lussenburg | 58,366,832 | 57,534,813 | 832,019 | 98.57% | 1.43% |
| Susan Mathieu | 58,366,832 | 57,946,695 | 420,137 | 99.28% | 0.72% |
| Dale Peniuk | 58,366,831 | 57,532,399 | 834,432 | 98.57% | 1.43% |
| Tom Peregoodoff | 58,366,831 | 56,445,627 | 1,921,204 | 96.71% | 3.29% |
| George Paspalas | 58,366,832 | 57,991,551 | 375,281 | 99.36% | 0.64% |
| Total Votes Cast | Total Votes For | Total Votes Withheld | % For | % Withheld | |
| Appointment of Auditors | 68,454,799 | 62,106,302 | 6,348,497 | 90.73% | 9.27% |
| Total Votes Cast | Total Votes For | Total Votes Against | % For | % Against | |
| Say on Pay | 58,366,830 | 56,655,960 | 1,710,870 | 97.07% | 2.93% |
"On behalf of the Board, management and staff, I would like to thank outgoing director, Dan MacInnis, for his 19 years of commitment and service to the Company ," said George Paspalas, President and CEO of MAG. "Dan's contribution to MAG, both as former CEO and more recently as a director, has been immense, and he will be missed. We wish him all the best in his retirement."
About MAG Silver Corp. ( www.magsilver.com )
MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralised material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada.
For further information on behalf of MAG Silver Corp.
Contact Michael J. Curlook , Vice President, Investor Relations and Communications
| Phone: | (604) 630-1399 | Website: | www.magsilver.com |
| Toll Free: | (866) 630-1399 | Email: | info@magsilver.com |
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995 or "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, " forward-looking statements "). All statements in this release, other than statements of historical facts are forward looking statements, including statements that relate to the Company's approach to executive compensation. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, a subsequent change in the Company's approach to executive compensation from that approach approved by Shareholders, changes in applicable laws, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including those risks disclosed in MAG Silver's filings with the Securities Exchange Commission (the " SEC ") and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov .
News Provided by GlobeNewswire via QuoteMedia
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") releases new drill results for its Jacobina, El Peñon, La Colorada and Huaron properties, reflecting the potential for continued mineral resource replacement at these assets. In particular, drill results from La Colorada and El Peñon reveal the significant exploration potential to find additional mineralized structures in under-explored ground surrounding these operations, highlighting the potential for mineral resource growth close to existing mine infrastructure.
"At La Colorada, we discovered an entirely new set of vein structures with high silver grades to the east and southeast of the main NC2 vein. At El Peñon, drill results from the Pampa Sur zone bode well for potential mineral resource additions close to the existing mine infrastructure, with additional potential in the largely unexplored southern area of the mine," said Christopher Emerson, Pan American's Vice President of Exploration and Geology.
Pan American's exploration program focuses on near-mine exploration and mineral resource conversion throughout its portfolio. Since the last exploration update provided on December 5, 2023, a total of 223,157 metres have been drilled over the November 1, 2023 to April 30, 2024 period. The Company plans to drill an additional 200,000 metres from May 2024 to December 2024.
The drill results disclosed in this news release, together with the results from the second half of the 2023 drill program, will be integrated into the Company's mineral reserves and mineral resources update as at June 30, 2024, which is expected to be released in August 2024. All intercepts are reported as estimated true widths in metres ("m").
EXPLORATION HIGHLIGHTS
Jacobina mine, Brazil:
Jacobina is an underground paleo-placer gold mine located in the state of Bahia in northeastern Brazil. Mineralization is hosted by a series of steeply to moderately dipping quartz pebble conglomerate reefs, which range up to several metres in width. The mine complex extends over eight kilometres north/south, with mineral resources and exploration targets extending over a 14 kilometre trend. Mineralization remains open at depth and along strike in multiple areas.
El Peñon, Chile:
El Peñon is a high-grade low-sulphidation epithermal vein Au-Ag deposit, located at an average elevation of 1,800 m above sea level within the Paleocene mineral belt of northern Chile. The deposit consists of a series of steeply to moderately dipping, north-south striking quartz veins, which extend within a 14 kilometre long northeast trending corridor. The 122,000 ha property hosts several satellite deposits and targets, which are actively being explored.
La Colorada mine, Mexico:
The La Colorada mine is a silver-rich polymetallic vein mine located in the state of Zacatecas, Mexico. The deposit is an intermediate sulphidation epithermal vein system, with associated splays. Individual veins are typically one to two metres wide with strike lengths of between 900 metres and 1.5 kilometres.
Huaron mine, Peru:
The Huaron mine, situated in the western cordillera of the Andes within the Cerro de Pasco Department of central Peru, is a polymetallic deposit featuring zinc, lead, silver, and copper. The deposit is defined by hydrothermal veins and replacement bodies hosted in folded and faulted sedimentary rocks.
DRILL RESULT HIGHLIGHT TABLES
Jacobina, Brazil
The following table provides infill and exploration drill result highlights for the Jacobina mine. Full infill and exploration drill results not included in this table, together with cross sections and plans, are available at https://panamericansilver.com/operations/exploration/ .
Hole No. | Sector | Incl. | From (m) | To (m) | Interval (m) | Est. True Width (m) | Au g/t |
JBS00054 | João Belo Sul | 247.08 | 251.50 | 4.42 | 2.65 | 2 .61 | |
JBS00054 | João Belo Sul | 258.00 | 265.00 | 7.00 | 4.20 | 2.28 | |
JBS00056 | João Belo Sul | 440.32 | 447.00 | 6.68 | 5.95 | 2.24 | |
JBS00056 | João Belo Sul | Incl | 440.32 | 444.00 | 3.68 | 3.28 | 3.45 |
JBS00062 | João Belo Sul | 190.00 | 196.84 | 6.84 | 6.42 | 2.37 | |
JBS00062 | João Belo Sul | Incl | 190.00 | 192.90 | 2.90 | 2.72 | 3.90 |
JBS00062 | João Belo Sul | 331.00 | 337.50 | 6.50 | 6.23 | 2.77 | |
JBS00062 | João Belo Sul | Incl | 334.50 | 337.50 | 3.00 | 2.87 | 4.12 |
JBS00082 | João Belo Sul | 429.89 | 433.94 | 4.05 | 3.20 | 6.58 | |
JBEX00118 | João Belo Norte | 442.50 | 446.21 | 3.71 | 2.07 | 2.58 | |
JBEX00121 | João Belo Norte | 55.50 | 60.00 | 4.50 | 3.34 | 2.14 | |
MRCEX00012 | Maricota | 772.00 | 777.88 | 5.88 | 5.78 | 2.52 | |
MRCEX00012 | Maricota | Incl | 774.00 | 777.04 | 3.04 | 2.98 | 3.07 |
MRCEX00012 | Maricota | 777.88 | 780.63 | 2.75 | 2.70 | 4.18 | |
MRCEX00016 | Maricota | 72.50 | 75.50 | 3.00 | 2.56 | 4.04 | |
MRCEX00016 | Maricota | 411.72 | 413.00 | 1.28 | 1.19 | 56.48 | |
MRCEX00018 | Maricota | 229.00 | 230.50 | 1.50 | 1.37 | 7.86 | |
MRCEX00019 | Maricota | 421.74 | 430.50 | 8.76 | 8.45 | 2.22 | |
MRCEX00019 | Maricota | Incl | 421.74 | 426.76 | 5.02 | 4.84 | 3.05 |
MRCEX00020 | Maricota | 279.96 | 283.50 | 3.54 | 2.88 | 5.88 | |
MRCEX00023 | Maricota | 496.00 | 504.00 | 8.00 | 4.39 | 2.21 | |
SCOEX00017 | Serra do Córrego Norte | 325.80 | 341.00 | 15.20 | 11.59 | 3.37 | |
SCOEX00017 | Serra do Córrego Norte | Incl | 325.80 | 331.26 | 5.46 | 4.17 | 4.90 |
SCOEX00017 | Serra do Córrego Norte | Incl | 333.13 | 336.85 | 3.72 | 2.83 | 4.17 |
SCOEX00017 | Serra do Córrego Norte | 345.00 | 362.00 | 17.00 | 14.00 | 5.55 | |
SCOEX00017 | Serra do Córrego Norte | Incl | 345.50 | 349.50 | 4.00 | 3.30 | 15.92 |
SCOEX00017 | Serra do Córrego Norte | Incl | 356.50 | 359.50 | 3.00 | 2.47 | 6.07 |
SCOEX00018 | Serra do Córrego Norte | 418.00 | 421.50 | 3.50 | 1.96 | 11.28 | |
MVTEX00191 | Morro do Vento Norte | 282.00 | 293.00 | 11.00 | 8.14 | 4.31 | |
MVTEX00191 | Morro do Vento Norte | Incl | 282.00 | 285.00 | 3.00 | 2.22 | 6.38 |
MVTEX00195 | Morro do Vento Norte | 63.97 | 67.50 | 3.53 | 3.29 | 15.40 | |
MVTEX00195 | Morro do Vento Norte | 168.61 | 175.00 | 6.39 | 6.11 | 2.48 | |
MVTEX00195 | Morro do Vento Norte | Incl | 168.61 | 170.81 | 2.20 | 2.10 | 3.77 |
MVTEX00193 | Morro do Vento Sul | 167.00 | 173.93 | 6.93 | 6.76 | 3.91 | |
MVTEX00193 | Morro do Vento Sul | 182.80 | 185.34 | 2.54 | 2.48 | 4.53 | |
MVTEX00198 | Morro do Vento Sul | 215.40 | 224.50 | 9.10 | 7.02 | 2.35 | |
MVTEX00198 | Morro do Vento Sul | Incl | 216.50 | 219.92 | 3.42 | 2.64 | 4.24 |
MVTEX00198 | Morro do Vento Sul | 240.00 | 243.00 | 3.00 | 2.34 | 3.31 | |
MVTEX00209 | Morro do Vento Sul | 176.00 | 187.08 | 11.08 | 8.19 | 3.12 | |
MVTEX00209 | Morro do Vento Sul | Incl | 176.00 | 180.00 | 4.00 | 2.95 | 4.03 |
MVTEX00209 | Morro do Vento Sul | Incl | 183.84 | 187.08 | 3.24 | 2.39 | 5.11 |
CANEX00145 | Canavieiras Central | 122.00 | 131.00 | 9.00 | 6.67 | 6.78 | |
CANEX00147A | Canavieiras Central | 115.50 | 117.00 | 1.50 | 1.22 | 8.93 |
El Peñon, Chile
The following table provides infill and exploration drill result highlights for the El Peñon mine. Full infill and exploration drill results not included in this table, together with longitudinal sections and plans, are available at https://panamericansilver.com/operations/exploration/ .
Hole | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Au (g/t) | Ag (g/t) |
SEX0022 | Bermuda | 461.00 | 463.00 | 2.00 | 1.02 | 6.50 | 137 |
SIH0001 | Chiquilla Chica | 238.05 | 239.00 | 0.95 | 0.65 | 1.40 | 751 |
SIH0002 | Chiquilla Chica (-30) | 157.00 | 162.00 | 5.00 | 3.19 | 0.20 | 415 |
SIH0002 | Chiquilla Chica | 247.55 | 248.75 | 1.20 | 0.80 | 0.20 | 487 |
SIH0003 | Chiquilla Chica | 226.38 | 228.09 | 1.71 | 1.49 | 0.60 | 688 |
SIH0004 | Chiquilla Chica | 226.35 | 228.75 | 2.40 | 1.36 | 0.20 | 477 |
UEV0036 | El Valle | 246.85 | 248.70 | 1.85 | 1.24 | 5.40 | 236 |
SIV0002 | El Valle | 285.00 | 286.60 | 1.60 | 1.35 | 9.60 | 120 |
SIV0005 | El Valle | 327.30 | 329.80 | 2.50 | 1.43 | 7.10 | 185 |
UIV0061 | El Valle | 196.00 | 198.00 | 2.00 | 1.63 | 9.50 | 473 |
UIV0063 | El Valle | 193.00 | 194.45 | 1.45 | 0.86 | 11.40 | 391 |
SIV0006 | El Valle | 410.00 | 413.00 | 3.00 | 0.90 | 9.10 | 525 |
SEV0009 | El Valle | 282.00 | 283.39 | 1.39 | 1.11 | 12.00 | 356 |
SIV0007 | El Valle (-20) | 228.37 | 229.20 | 0.83 | 0.61 | 28.50 | 204 |
SIV0007 | El Valle | 273.60 | 275.40 | 1.80 | 1.33 | 13.10 | 403 |
SIV0003 | El Valle | 243.60 | 244.40 | 0.80 | 0.57 | 9.60 | 90 |
UIV0066 | El Valle | 225.45 | 227.92 | 2.47 | 1.28 | 4.70 | 288 |
UIV0065 | El Valle | 163.65 | 165.50 | 1.85 | 1.14 | 6.00 | 241 |
UIV0069 | El Valle | 169.09 | 169.76 | 0.67 | 0.78 | 7.10 | 129 |
UIV0076 | El Valle | 208.00 | 210.50 | 2.50 | 1.67 | 11.70 | 449 |
UIV0067 | El Valle (-9) | 169.50 | 172.00 | 2.50 | 1.52 | 8.2 | 107 |
UIV0058 | El Valle FW | 254.00 | 256.35 | 2.35 | 1.01 | 3.6 | 174 |
SIM0022 | Martillo Flat SSE | 202.55 | 203.70 | 1.15 | 0.63 | 68.2 | 880 |
SIM0025 | Martillo Flat SSE | 241.70 | 242.40 | 0.70 | 0.47 | 12.0 | 485 |
UIP0153 | Pampa Campamento | 252.50 | 254.00 | 1.50 | 1.16 | 5.0 | 144 |
UIP0155 | Pampa Campamento | 127.40 | 128.70 | 1.30 | 0.72 | 21.5 | 748 |
UEP0060 | Pampa Campamento | 242.58 | 243.55 | 0.97 | 0.76 | 7.6 | 207 |
UEP0061 | Pampa Campamento | 340.60 | 341.13 | 0.53 | 0.45 | 12.5 | 287 |
UIP0158 | Pampa Campamento | 236.60 | 237.39 | 0.79 | 0.68 | 26.8 | 62 |
UIP0163 | Pampa Campamento | 268.40 | 269.75 | 1.35 | 0.95 | 11.0 | 258 |
UIP0163 | Pampa Campamento (+8) | 282.05 | 284.07 | 2.02 | 1.80 | 12.2 | 182 |
UIP0164 | Pampa Campamento (-4) | 263.80 | 264.45 | 0.65 | 0.60 | 8.4 | 133 |
UIP0164 | Pampa Campamento | 267.12 | 268.20 | 1.08 | 0.86 | 11.5 | 202 |
UIP0164 | Pampa Campamento (+2) | 269.50 | 270.50 | 1.00 | 0.80 | 6.9 | 163 |
SEP0050 | Pampa Sur | 405.92 | 406.96 | 1.04 | 0.80 | 15.6 | 94 |
SEP0032 | Pampa Sur (+4) | 429.60 | 430.13 | 0.53 | 0.48 | 9.1 | 385 |
SEP0032 | Pampa Sur | 436.18 | 437.60 | 1.42 | 1.22 | 22.2 | 1005 |
SEP0035 | Pampa Sur | 365.00 | 366.00 | 1.00 | 0.62 | 10.9 | 266 |
SEP0037 | Pampa Sur | 467.40 | 468.50 | 1.10 | 0.88 | 13.2 | 781 |
SEP0057 | Pampa Sur | 333.30 | 334.40 | 1.10 | 0.70 | 6.6 | 442 |
SIP0050 | Pampa Sur | 439.45 | 440.45 | 1.00 | 0.62 | 4.6 | 261 |
SIS0017 | Sorpresa Sur | 467.70 | 469.10 | 1.40 | 0.80 | 11.5 | 853 |
SIH0014 | Tostado Sur | 7.75 | 8.75 | 1.00 | 0.96 | 0.0 | 3530 |
SIH0014 | Tostado Sur | 9.80 | 10.90 | 1.10 | 1.02 | 0.0 | 3802 |
SIH0014 | Tostado Sur | 14.00 | 14.70 | 0.70 | 0.62 | 0.1 | 2347 |
SIH0015 | Tostado Sur | 7.90 | 9.05 | 1.15 | 1.03 | 0.1 | 7574 |
SIH0016 | Tostado Sur | 0.80 | 10.85 | 10.05 | 7.50 | 0.1 | 1217 |
La Colorada, Mexico
The following table provides the drill result highlights for the La Colorada mine. Full drill results not included in this table, together with cross sections and plans, are available at https://panamericansilver.com/operations/exploration/.
Hole No. | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Au (g/t) | Pb % | Zn % |
S-108-23 | Mariana | 502.55 | 503.85 | 1.30 | 0.85 | 760 | 0.08 | 0.48 | 0.86 |
And | NC2 | 624.90 | 628.50 | 3.60 | 1.42 | 1131 | 0.95 | 3.05 | 5.50 |
S-119-23 | Mariana | 592.60 | 594.15 | 1.55 | 0.89 | 499 | 0.13 | 0.16 | 0.42 |
And | Intermedia Este | 604.25 | 607.00 | 2.75 | 1.17 | 78 | 0.08 | 0.38 | 1.50 |
And | NC2 | 659.65 | 660.00 | 0.35 | 0.14 | 247 | 0.19 | 0.66 | 2.51 |
S-125-23 | Mariana | 525.80 | 527.85 | 2.05 | 1.31 | 689 | 0.07 | 0.35 | 1.45 |
S-131-23 | Mariana | 510.80 | 513.35 | 2.55 | 1.69 | 551 | 0.11 | 0.60 | 0.80 |
And | NC2 | 578.90 | 580.50 | 1.60 | 0.61 | 103 | 0.14 | 0.24 | 0.73 |
S-134-23 | NC2 | 758.80 | 760.05 | 1.25 | 0.75 | 214 | 0.14 | 3.71 | 10.98 |
S-139-23 | Mariana | 522.70 | 523.40 | 0.70 | 0.45 | 2639 | 0.27 | 1.86 | 4.56 |
And | NC2 | 600.85 | 602.10 | 1.25 | 0.36 | 647 | 0.33 | 1.23 | 4.68 |
S-27-24 | Mariana | 620.30 | 623.65 | 3.35 | 2.51 | 426 | 0.14 | 1.22 | 3.63 |
And | Intermedia Este | 627.00 | 627.95 | 0.95 | 0.59 | 2291 | 0.40 | 3.27 | 6.08 |
And | NC2 | 669.35 | 671.55 | 2.20 | 1.04 | 5991 | 1.79 | 4.06 | 8.74 |
S-39-24 | Mariana | 648.95 | 650.35 | 1.40 | 1.02 | 499 | 0.14 | 0.55 | 1.38 |
And | Intermedia Este | 697.40 | 698.95 | 1.55 | 0.92 | 912 | 0.73 | 2.70 | 7.98 |
And | NC2 | 721.30 | 723.75 | 2.45 | 1.22 | 136 | 0.10 | 1.00 | 1.54 |
S-51-24 | Mariana | 581.25 | 581.70 | 0.45 | 0.36 | 1901 | 0.07 | 1.09 | 3.35 |
And | Intermedia Este | 598.50 | 599.20 | 0.70 | 0.61 | 2776 | 0.27 | 1.52 | 0.90 |
And | NC2 | 648.30 | 648.80 | 0.50 | 0.41 | 909 | 1.00 | 1.68 | 7.56 |
S-97-23 | NC2 | 630.70 | 631.70 | 1.00 | 0.84 | 205 | 0.07 | 0.32 | 0.63 |
S-20-24 | Cristina Vein System | 494.45 | 497.10 | 2.65 | 1.64 | 950 | 0.38 | 2.12 | 3.48 |
And | Cristina Vein System | 523.30 | 525.15 | 1.85 | 1.12 | 1212 | 0.11 | 2.32 | 2.59 |
And | Cristina Vein System | 532.20 | 532.65 | 0.45 | 0.36 | 2336 | 0.37 | 2.24 | 4.52 |
And | Cristina Vein System | 553.55 | 555.20 | 1.65 | 0.65 | 1551 | 0.44 | 5.28 | 7.93 |
And | Cristina Vein System | 567.45 | 576.60 | 9.15 | 5.67 | 614 | 0.30 | 2.10 | 5.95 |
S-05-24 | San Geronimo Vein System | 494.40 | 495.65 | 1.25 | 0.77 | 951 | 0.30 | 0.65 | 1.67 |
And | San Geronimo Vein System | 570.20 | 571.70 | 1.50 | 1.41 | 825 | 2.67 | 4.48 | 9.26 |
And | San Geronimo Vein System | 574.10 | 576.40 | 2.30 | 1.95 | 1755 | 1.11 | 2.69 | 5.78 |
And | San Geronimo Vein System | 637.40 | 640.35 | 2.95 | 2.16 | 1190 | 0.66 | 1.19 | 2.22 |
And | San Geronimo Vein System | 738.45 | 739.55 | 1.10 | 0.84 | 317 | 0.16 | 3.77 | 3.64 |
And | San Geronimo Vein System | 941.90 | 943.20 | 1.30 | 0.44 | 284 | 0.14 | 7.17 | 7.55 |
S-71-24 | Cristina Vein System | 367.45 | 370.15 | 2.70 | 1.89 | 3342 | 0.96 | 4.62 | 4.67 |
And | Cristina Vein System | 373.45 | 375.05 | 1.60 | 1.12 | 161 | 0.27 | 2.67 | 3.42 |
And | Cristina Vein System | 386.10 | 386.35 | 0.25 | 0.18 | 196 | 0.10 | 0.82 | 0.52 |
And | San Geronimo Vein System | 422.80 | 423.00 | 0.20 | 0.14 | 172 | 0.08 | 0.28 | 1.21 |
And | San Geronimo Vein System | 460.50 | 460.85 | 0.35 | 0.25 | 254 | 0.18 | 0.47 | 1.55 |
And | San Geronimo Vein System | 508.40 | 509.15 | 0.75 | 0.53 | 471 | 0.68 | 0.67 | 2.14 |
And | San Geronimo Vein System | 528.15 | 528.65 | 0.50 | 0.35 | 70 | 0.29 | 5.30 | 10.41 |
And | San Geronimo Vein System | 552.40 | 554.30 | 1.90 | 1.33 | 149 | 0.22 | 2.53 | 2.27 |
And | San Geronimo Vein System | 584.60 | 626.76 | 42.15 | 29.51 | 128 | 0.85 | 2.28 | 5.80 |
Huaron, Peru
The following table provides infill and exploration drill result highlights from the medium, lower and Horizonte sectors of the Huaron mine. Full drill and channel sampling results not included in this table, together with cross sections and plans, are available at https://panamericansilver.com/operations/exploration/.
Hole No | Vein | Zone | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Cu% | Pb% | Zn% |
DDH-U-007-24 | Cometa Ramal | Horizonte | 357.15 | 358.40 | 1.25 | 0.99 | 289 | 0.13 | 4.74 | 5.82 |
DDH-U-018-24 | Cometa Ramal | Horizonte | 431.55 | 440.20 | 8.65 | 4.00 | 333 | 0.49 | 5.50 | 20.44 |
DDH-U-026-24 | Cometa Ramal | Horizonte | 362.30 | 363.65 | 0.70 | 0.97 | 33 | 0.02 | 0.33 | 0.33 |
DDH-U-037-24 | Cometa Ramal | Horizonte | 370.95 | 373.05 | 2.10 | 1.52 | 81 | 0.10 | 1.31 | 2.21 |
DDH-U-043-24 | Cometa Ramal | Horizonte | 406.65 | 408.90 | 2.25 | 1.50 | 250 | 0.22 | 3.67 | 6.43 |
DDH-U-049-24 | Cometa Ramal | Horizonte | 435.45 | 438.85 | 3.40 | 2.32 | 627 | 0.79 | 3.36 | 17.77 |
DDH-U-052-24 | Cometa Ramal | Horizonte | 301.40 | 302.25 | 0.85 | 0.70 | 28 | 0.02 | 0.28 | 0.54 |
DDH-U-057-24 | Cometa Ramal | Horizonte | 385.70 | 387.95 | 2.05 | 1.50 | 282 | 0.40 | 3.20 | 8.84 |
DDH-U-085-23 | Cometa Ramal | Horizonte | 430.70 | 435.35 | 4.65 | 1.50 | 528 | 0.33 | 4.01 | 7.47 |
DDH-U-091-23 | Cometa Ramal | Horizonte | 346.55 | 348.70 | 2.15 | 1.64 | 272 | 0.08 | 3.32 | 2.00 |
DDH-U-096-23 | Cometa Ramal | Horizonte | 397.00 | 402.05 | 5.05 | 3.64 | 85 | 0.05 | 1.43 | 3.51 |
DDH-U-047-24 | Patrick | Middle | 188.50 | 196.80 | 8.30 | 5.46 | 331 | 0.20 | 1.32 | 3.58 |
DDH-U-035-24 | Patrick | Middle | 136.80 | 142.80 | 6.00 | 5.92 | 234 | 0.13 | 1.04 | 4.12 |
DDH-U-041-24 | Patrick | Middle | 140.70 | 142.45 | 1.75 | 1.66 | 819 | 0.35 | 11.53 | 14.48 |
DDH-U-039-24 | Patrick | Middle | 180.30 | 182.05 | 1.75 | 1.71 | 337 | 0.23 | 1.50 | 2.10 |
DDH-U-045-24 | Patrick | Middle | 157.85 | 161.35 | 3.50 | 3.06 | 179 | 0.08 | 3.39 | 5.37 |
DDH-U-055-24 | Patrick | Middle | 140.70 | 143.30 | 2.60 | 2.52 | 107 | 0.03 | 1.84 | 5.49 |
DDH-U-051-24 | Patrick | Middle | 184.70 | 186.70 | 2.00 | 1.55 | 156 | 0.03 | 1.20 | 3.06 |
DDH-U-033-24 | Labor Este | Horizonte | 158.40 | 162.60 | 4.20 | 3.87 | 147 | 0.03 | 3.19 | 3.86 |
DDH-U-027-24 | Labor Este | Horizonte | 227.10 | 229.35 | 2.25 | 1.68 | 332 | 0.03 | 6.77 | 6.78 |
DDH-U-036-24 | Labor Este | Horizonte | 216.15 | 220.05 | 3.90 | 2.65 | 126 | 0.03 | 1.66 | 1.12 |
DDH-U-048-24 | Labor Este | Horizonte | 190.90 | 192.90 | 2.00 | 0.96 | 266 | 0.08 | 5.47 | 14.94 |
DDH-U-020-24 | Labor Este | Horizonte | 214.00 | 215.75 | 1.75 | 1.09 | 205 | 0.05 | 6.19 | 3.82 |
DDH-U-040-24 | Labor Este | Horizonte | 184.10 | 186.55 | 2.45 | 1.70 | 123 | 0.06 | 3.06 | 5.98 |
DDH-U-016-24 | Labor Este | Horizonte | 254.60 | 255.05 | 0.45 | 0.18 | 627 | 0.11 | 9.44 | 3.39 |
DDH-U-003-24 | Labor Este | Horizonte | 259.70 | 260.80 | 1.10 | 0.66 | 144 | 0.06 | 3.92 | 4.60 |
DDH-U-030-24 | Labor Este | Horizonte | 190.95 | 192.65 | 1.70 | 1.40 | 47 | 0.03 | 1.65 | 1.43 |
DDH-U-044-24 | Labor Este | Horizonte | 237.80 | 238.20 | 0.40 | 0.20 | 288 | 0.10 | 2.75 | 4.29 |
DDH-U-009-24 | Labor Este | Horizonte | 230.00 | 230.35 | 0.35 | 0.23 | 181 | 0.16 | 7.52 | 9.01 |
DDH-U-052-24 | Labor Este | Horizonte | 179.15 | 181.50 | 2.35 | 1.26 | 32 | 0.02 | 0.53 | 0.38 |
DDH-U-016-24 | Cuerpo Andres | Horizonte | 75.30 | 77.00 | 1.70 | 1.49 | 233 | 0.14 | 3.59 | 6.92 |
DDH-U-020-24 | Cuerpo Andres | Horizonte | 69.40 | 71.25 | 1.85 | 1.78 | 194 | 0.03 | 3.11 | 8.58 |
DDH-U-056-24 | Cuerpo Andres | Horizonte | 48.35 | 53.00 | 4.65 | 3.90 | 162 | 0.04 | 4.02 | 6.06 |
DDH-U-060-24 | Cuerpo Andres | Horizonte | 85.00 | 87.85 | 2.85 | 1.45 | 231 | 0.08 | 2.44 | 4.38 |
DDH-U-061-24 | Cuerpo Andres | Horizonte | 48.45 | 49.75 | 1.30 | 1.06 | 241 | 0.08 | 4.19 | 8.75 |
DDH-U-062-24 | Cuerpo Andres | Horizonte | 81.50 | 83.20 | 1.70 | 0.86 | 756 | 0.22 | 8.28 | 9.61 |
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are applied. The Company has undertaken a verification process with respect to the data disclosed in this news release.
Samples are analyzed at a variety of laboratories, including by in-house staff at the mine (Jacobina and La Colorada), mine laboratories operated by third party independent commercial labs (Huaron), and commercial laboratories off-site (La Colorada, El Peñon and Jacobina). All the assay data reported in this news release has been subjected to the industry standard quality assurance and quality control ("QA/QC") program including the submission of certified standards, blanks, and duplicate samples. The results are reviewed on a monthly and quarterly basis by management. In general, the assay analytical technique for silver, lead, zinc and copper is acid digestion with either ICP or atomic absorption finish. The analytical technique for gold uses fire assay and atomic absorption spectrometry (AAS) finish. A gravimetric finish would be used if the gold assay exceeds > 10 g/t (or >5 g/t at El Peñon). The results of the QA/QC samples submitted for the resource databases demonstrate acceptable accuracy and precision. The offsite commercial laboratories are independent from Pan American and certified by ISO 17025:2017.
The Qualified Persons are of the opinion that the sample preparation, analytical, and security procedures followed for the samples are sufficient and reliable for the purpose of this news release and for the purpose of any future mineral resource and mineral reserve estimates. There were no limitations on the Qualified Persons' verification process. Pan American is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported herein.
Mineral resources and mineral reserves are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum.
See the Company's Annual Information Form dated March 26, 2024, available at www.sedarplus.com , or the Company's most recent Form 40-F filed with the United States Securities and Exchange Commission (the "SEC") for further information on the Company's material mineral properties, including detailed information concerning associated QA/QC and data verification matters, the key assumptions, parameters and methods used by the Company to estimate mineral reserves and mineral resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of the Company's mineral reserves and mineral resources.
Technical information contained in this news release with respect to Pan American has been reviewed and approved by Christopher Emerson, FAusIMM, Vice President Exploration and Geology, and Martin Wafforn, P.Eng., Senior Vice President Technical Services and Process Optimization, each of whom is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (‘‘NI 43-101''). Pan American is authorized by The Association of Professional Engineers and Geoscientists of the Province of British Columbia to engage in Reserved Practice under Permit to Practice number 1001470.
Cautionary Note to US Investors
This news release has been prepared in accordance with the requirements of Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the SEC, and information concerning mineralization, deposits, mineral reserve and mineral resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies. The requirements of NI 43-101 for identification of "reserves" are not the same as those of the SEC and may not qualify as "reserves" under SEC standards. Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases.
About Pan American Silver
Pan American Silver is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com
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Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the extent of, and success related to any future exploration or development programs, including with respect to its Jacobina, El Peñon, La Colorada, Huaron and Timmins properties and for its La Colorada Skarn project; and the timing for its mineral reserves and mineral resources update.
These forward-looking statements and information reflect Pan American's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: tonnage of ore to be mined and processed; ore grades and recoveries; prices for silver, gold and base metals remaining as estimated; currency exchange rates remaining as estimated; capital, decommissioning and reclamation estimates; our mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to properties and the surface rights necessary for our operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP, and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments, including legal restrictions relating to mining, risks relating to expropriation, and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; the duration and effects any pandemics on our operations and workforce; and those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although Pan American has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near and longer term prospects and may not be appropriate for other purposes. Pan American does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240617493344/en/
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: ir@panamericansilver.com
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TSX: SIL | NYSE American: SILV
SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce the results of its Annual General Meeting of Shareholders ("AGM") held in Vancouver, BC on June 12, 2024 .
A total of 88,115,662 votes were represented at the AGM amounting to 59.84% of the issued common shares as of the record date.
Shareholders approved the fixing of the number of directors at eight and re-elected the following directors pursuant to a vote by show of hands. The following is the tabulation of proxy votes in the election of the eight directors:
Directors | Votes in Favour | % in Favor |
Pierre Beaudoin | 63,041,074 | 99.72 % |
Laura Diaz | 62,931,155 | 99.54 % |
N. Eric Fier | 62,836,857 | 99.40 % |
Anna Ladd-Kruger | 61,735,236 | 97.65 % |
Ani Markova | 62,001,655 | 98.07 % |
Hannes P. Portmann | 62,915,033 | 99.52 % |
Graham C. Thody | 62,914,214 | 99.52 % |
John H. Wright | 61,596,559 | 97.43 % |
PricewaterhouseCoopers LLP, Chartered Professional Accountants, was appointed auditor of the Company pursuant to a vote by show of hands, with tabulation of proxy votes resulting in 87,359,925 (99.14%) voting in favour.
A non-binding advisory resolution to accept the Company's approach to executive compensation (say on pay) as more particularly described in the management information circular of the Company dated April 18, 2024 was approved pursuant to a vote by show of hands, with tabulation of proxy votes resulting in 62,008,866 (98.09%) voting in favour.
The Company's rolling percentage Equity Share Unit Plan was reconfirmed and approved pursuant to a vote by show of hands, with tabulation of proxy votes resulting in 56,849,799 (89.93%) voting in favour.
SilverCrest is a Canadian precious metals producer headquartered in Vancouver, BC , with an ongoing initiative to increase its asset base by expanding current resources and reserves, acquiring, discovering, and developing high value precious metals projects and ultimately operating multiple silver-gold mines in the Americas. The Company's principal focus is its Las Chispas Operation in Sonora, Mexico . The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
View original content to download multimedia: https://www.prnewswire.com/news-releases/silvercrest-reports-results-of-2024-agm-302171527.html
SOURCE SilverCrest Metals Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/13/c7724.html
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First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce positive drilling results from its 2024 exploration program at the San Dimas SilverGold 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 & CEO of First Majestic. "The recent drilling has continued to highlight San Dimas' 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."
DRILLING HIGHLIGHTS
Select highlights from the Company's ongoing exploration program at San Dimas include the following high-grade intercepts:
Perez Vein Highlights (true width):
PE24_297: 7.36 g/t Au and 1,129 g/t Ag over 6.72 metres ("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.
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.
SAN DIMAS EXPLORATION RESULTS
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 (see Figure 1 below).
Figure 1: San Dimas District Vein Occurrence Map and Highlighted Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/212797_ccb35e78149a3b3b_002full.jpg
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 (see Figure 2). 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 gpt 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 (see Figure 3). 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 (see Figure 4). 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 kilometre of strike length of potential remains untested (see Figure 5). 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.
Figure 2: Perez Vein Vertical Long Section Looking North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/212797_ccb35e78149a3b3b_003full.jpg
Figure 3: Sinaloa-Elia Vein System Vertical Long Section Looking North
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https://images.newsfilecorp.com/files/1475/212797_ccb35e78149a3b3b_004full.jpg
Figure 4: Santa Regina Vein Vertical Long Section Looking North
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https://images.newsfilecorp.com/files/1475/212797_ccb35e78149a3b3b_005full.jpg
Figure 5: Santa Teresa Vein Vertical Long Section Looking North
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https://images.newsfilecorp.com/files/1475/212797_ccb35e78149a3b3b_006full.jpg
Table 1: Summary of Significant Silver and Gold Drill Hole Intercepts at San Dimas
| Drillhole | Target | Target Type | Significant Intercept | |||||
| From (m) | Length (m) | True Length (m) | Au (gpt) | Ag (gpt) | AgEq (gpt) | |||
| GPE23_003 | Guadalupe | Resource addition | 295.70 | 1.50 | 1.36 | 1.99 | 293 | 452 |
| GPE23_006 | Guadalupe | Resource addition | 271.70 | 0.80 | 0.75 | 0.84 | 175 | 242 |
| GPE23_006 | String zone | Resource addition | 428.40 | 0.95 | 0.91 | 1.24 | 196 | 296 |
| CN24_004 | Carmen | Resource addition | 440.65 | 1.00 | 0.94 | 1.18 | 166 | 261 |
| EL24_265 | Elia | Resource addition | 397.30 | 1.30 | 0.92 | 10.46 | 879 | 1716 |
| EL24_266 | Elia | Resource addition | 461.50 | 4.00 | 2.15 | 20.41 | 1702 | 3336 |
| ORO24_109 | El Oro | Resource conversion | 286.10 | 1.60 | 1.13 | 2.79 | 61 | 285 |
| ORO24_111 | El Oro | Resource conversion | 221.70 | 0.95 | 0.94 | 9.78 | 1311 | 2093 |
| ORO24_115 | El Oro | Resource conversion | 355.65 | 1.05 | 0.71 | 2.39 | 299 | 490 |
| PE23_267 | Perez | Resource conversion | 194.25 | 1.60 | 0.74 | 1.05 | 145 | 229 |
| PE23_272 | Perez | Resource conversion | 184.35 | 1.45 | 1.19 | 3.52 | 368 | 649 |
| PE23_273 | Perez | Resource conversion | 287.55 | 3.35 | 2.37 | 1.50 | 240 | 360 |
| PE24_283 | Perez | Resource addition | 185.70 | 1.10 | 0.95 | 0.93 | 197 | 272 |
| PE24_289 | Perez | Resource conversion | 290.45 | 6.60 | 2.79 | 3.26 | 381 | 641 |
| PE24_289 | Perez | Resource conversion | 300.35 | 3.35 | 1.42 | 2.85 | 153 | 381 |
| PE24_294 | Perez | Resource conversion | 258.80 | 10.60 | 6.08 | 1.99 | 440 | 599 |
| PE24_296 | Perez | Resource addition | 276.85 | 2.95 | 1.47 | 6.50 | 590 | 1110 |
| PE24_297 | Perez | Resource conversion | 344.40 | 8.20 | 6.72 | 7.36 | 1129 | 1717 |
| PE24_304 | Perez | Resource addition | 280.70 | 1.35 | 0.95 | 2.71 | 285 | 502 |
| PE24_306 | Perez | Resource conversion | 231.00 | 1.70 | 0.85 | 0.86 | 191 | 260 |
| PE24_306 | Perez | Resource conversion | 234.47 | 2.23 | 1.28 | 11.53 | 1158 | 2081 |
| PE24_309 | Perez | Resource addition | 255.55 | 16.00 | 7.88 | 10.87 | 1034 | 1904 |
| PE24_311 | Perez | Resource conversion | 325.55 | 1.50 | 1.41 | 4.78 | 550 | 932 |
| PE24_315 | Perez | Resource conversion | 239.60 | 3.30 | 1.89 | 2.23 | 395 | 573 |
| SIN23_087 | Sinaloa | Resource conversion | 58.95 | 1.20 | 1.01 | 12.34 | 196 | 1183 |
| SIN23_087 | Sinaloa | Resource conversion | 278.75 | 1.35 | 1.20 | 4.90 | 271 | 664 |
| SIN23_087 | Sinaloa | Resource conversion | 312.65 | 2.15 | 2.08 | 4.26 | 255 | 596 |
| SIN24_091 | Sinaloa (FW) | Resource conversion | 239.85 | 0.85 | 0.70 | 9.65 | 1017 | 1788 |
| SIN24_091 | Sinaloa | Resource conversion | 288.20 | 2.00 | 1.73 | 2.50 | 188 | 389 |
| SIN24_091 | Sinaloa | Resource conversion | 292.35 | 1.10 | 0.95 | 9.13 | 582 | 1312 |
| SIN24_092 | Sinaloa | Resource conversion | 257.70 | 1.85 | 1.76 | 39.28 | 1905 | 5047 |
| SIN24_092 | Sinaloa (HW) | Resource conversion | 288.40 | 1.20 | 1.04 | 3.43 | 238 | 512 |
| ST23_028 | Santa Teresa | Resource addition | 343.30 | 2.55 | 2.09 | 4.10 | 79 | 407 |
| ST24_029 | Santa Teresa | Resource addition | 141.50 | 2.35 | 2.18 | 4.86 | 511 | 900 |
| ROS23_035 | Macho Bayo | Resource addition | 398.40 | 1.10 | 0.90 | 3.81 | 262 | 567 |
| ROS23_037 | Rosario | Resource addition | 369.20 | 0.80 | 0.70 | 3.45 | 378 | 654 |
| SRE23_274 | Santa Regina | Resource conversion | 242.65 | 2.05 | 1.78 | 3.85 | 392 | 700 |
| SRE23_274 | Santa Regina | Resource conversion | 295.45 | 1.15 | 1.04 | 3.37 | 339 | 609 |
| SRE23_279 | Santa Regina | Resource conversion | 234.05 | 1.40 | 0.99 | 5.48 | 622 | 1061 |
| SRE23_280 | Santa Regina | Resource conversion | 228.80 | 1.35 | 1.16 | 5.32 | 551 | 976 |
| SRE23_281 | Santa Regina | Resource conversion | 237.15 | 1.10 | 0.84 | 6.61 | 855 | 1384 |
| SRE23_281 | String zone | Resource conversion | 266.55 | 1.65 | 1.43 | 4.12 | 683 | 1013 |
| SRE24_282 | Santa Regina (HW) | Resource conversion | 259.00 | 1.50 | 1.34 | 9.44 | 1069 | 1824 |
| SRE24_283 | Santa Regina | Resource conversion | 247.60 | 0.95 | 0.70 | 10.59 | 1055 | 1902 |
| SRE24_286 | Santa Regina | Resource conversion | 246.15 | 0.90 | 0.78 | 2.45 | 345 | 541 |
| SRE24_287 | Santa Regina (HW) | Resource conversion | 261.50 | 1.15 | 0.94 | 13.24 | 1501 | 2559 |
| SRE24_287 | Santa Regina | Resource conversion | 308.80 | 1.40 | 1.27 | 4.02 | 457 | 779 |
| SRE24_289 | String zone | Resource conversion | 260.55 | 1.55 | 1.27 | 1.76 | 182 | 323 |
| SRE24_289 | Santa Regina (HW) | Resource conversion | 296.90 | 2.50 | 2.05 | 3.42 | 361 | 635 |
| SRE24_289 | Santa Regina | Resource conversion | 315.55 | 1.20 | 0.98 | 1.38 | 233 | 343 |
| SRE24_293 | Santa Regina | Resource conversion | 280.35 | 2.15 | 1.52 | 9.27 | 849 | 1590 |
| SRE24_295 | Santa Regina | Resource conversion | 301.50 | 1.20 | 1.09 | 1.50 | 185 | 305 |
Notes:
Gold and silver drill hole intercepts were composited using the length weighted averages of uncapped sample assays, a 190 g/t AgEq minimum grade, and a minimum composite length of 0.7 m (true width). A maximum one metre below the minimum grade was allowed as internal dilution and a single sample below the minimum but above 100 g/t AgEq was allowed in the hanging or footwall to achieve minimum true width in select cases. True width of intercepts is calculated based on current understanding of drill hole and vein angle geometry.
First Majestic's drilling programs follow established QA/QC insertion protocols with standards, blanks and duplicates introduced to the sample stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half is retained on-site for verification and reference purposes.
Core samples were submitted to First Majestic's owned and operated Central Laboratory (ISO 9001:2015) or to SGS (ISO/IEC 17025:2017), and independent third-party laboratory.
At the Central Lab, gold is analyzed by fire assay with atomic absorption finish (Au-AA13), and by fire assay gravimetric finish (ASAG-13-Au, ASAG-15-Au). Results above 10 g/t gold are analyzed by 30 g fire assay gravimetric finish (ASAG-14). Silver is analyzed by 3-Acid digest atomic absorption finish (AAG-13) or by 30 g fire assay gravimetric finish (ASAG-13-Ag). Results above 200 g/t silver are analyzed by 30 g fire assay gravimetric finish (ASAG-14).
At SGS, gold is analyzed by 30 g fire assay atomic absorption finish (GE-FAA30V5). Results above 10 g/t gold are analyzed by 30 g fire assay gravimetric finish (GO-FAG30V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by fire assay gravimetric finish (GO-FAG37V).
For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recent Annual Information Form available at www.sedarplus.ca.
QUALIFIED PERSON
Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.
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 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, 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, visit our website at www.firstmajestic.com. You can contact us by e-mail at info@firstmajestic.com, or by telephone at 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Cautionary Note to United States Investors
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
APPENDIX - DRILL HOLE DETAILS
Table A1: Drill Hole Location, Sample Type, Azimuth, Dip and Total Depth
| Drillhole | East | North | Elevation | Azimuth | Dip | Depth (m) | Type |
| GPE23_003 | 398324 | 2666358 | 572 | 148 | -13 | 507 | Core |
| GPE23_006 | 398324 | 2666358 | 572 | 171 | 6 | 483 | Core |
| CN24_004 | 398324 | 2666359 | 572 | 181 | -13 | 549 | Core |
| EL24_265 | 400317 | 2667086 | 549 | 191 | -30 | 501 | Core |
| EL24_266 | 400317 | 2667087 | 550 | 204 | -28 | 513 | Core |
| ORO24_109 | 404187 | 2665505 | 509 | 277 | 15 | 309 | Core |
| ORO24_111 | 404186 | 2665505 | 509 | 282 | 14 | 249 | Core |
| ORO24_115 | 404186 | 2665504 | 510 | 277 | 25 | 372 | Core |
| PE23_267 | 398560 | 2671170 | 831 | 317 | -23 | 246 | Core |
| PE23_272 | 398560 | 2671169 | 830 | 296 | -12 | 243 | Core |
| PE23_273 | 399019 | 2671354 | 844 | 320 | -31 | 327 | Core |
| PE24_283 | 399592 | 2671895 | 859 | 9 | -36 | 381 | Core |
| PE24_289 | 398697 | 2671242 | 831 | 352 | 43 | 324 | Core |
| PE24_294 | 398698 | 2671242 | 831 | 9 | 36 | 294 | Core |
| PE24_296 | 398696 | 2671242 | 831 | 323 | 42 | 324 | Core |
| PE24_297 | 399019 | 2671353 | 844 | 292 | 31 | 372 | Core |
| PE24_304 | 398696 | 2671241 | 831 | 310 | 37 | 309 | Core |
| PE24_306 | 398696 | 2671242 | 831 | 313 | 33 | 267 | Core |
| PE24_309 | 398696 | 2671242 | 831 | 330 | 42 | 312 | Core |
| PE24_311 | 398698 | 2671242 | 831 | 358 | 44 | 338 | Core |
| PE24_315 | 399314 | 2671670 | 859 | 9 | -10 | 273 | Core |
| SIN23_087 | 399888 | 2666329 | 562 | 291 | -6 | 354 | Core |
| SIN24_091 | 399888 | 2666329 | 562 | 298 | -7 | 321 | Core |
| SIN24_092 | 399889 | 2666329 | 562 | 300 | -5 | 318 | Core |
| ST23_028 | 398456 | 2667240 | 556 | 314 | -23 | 396 | Core |
| ST24_029 | 397881 | 2667261 | 578 | 310 | 13 | 453 | Core |
| ROS23_035 | 399812 | 2665304 | 950 | 162 | 25 | 900 | Core |
| ROS23_037 | 399811 | 2665305 | 950 | 172 | -28 | 951 | Core |
| SRE23_274 | 399696 | 2670823 | 842 | 158 | 21 | 360 | Core |
| SRE23_279 | 399697 | 2670823 | 842 | 150 | 20 | 300 | Core |
| SRE23_280 | 399696 | 2670823 | 842 | 158 | 19 | 342 | Core |
| SRE23_281 | 399696 | 2670823 | 842 | 165 | 18 | 291 | Core |
| SRE24_282 | 399697 | 2670823 | 843 | 157 | 26 | 366 | Core |
| SRE24_283 | 399696 | 2670823 | 842 | 168 | 22 | 306 | Core |
| SRE24_286 | 399695 | 2670823 | 842 | 162 | 22 | 270 | Core |
| SRE24_287 | 399695 | 2670823 | 842 | 165 | 27 | 339 | Core |
| SRE24_289 | 399695 | 2670823 | 842 | 164 | 25 | 345 | Core |
| SRE24_293 | 399695 | 2670824 | 842 | 177 | 27 | 363 | Core |
| SRE24_295 | 399695 | 2670823 | 842 | 179 | 25 | 327 | Core |
Notes:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212797
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