Announcement Date: 2021-11-24
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: First Majestic Silver Corp.
Project name: Santa Elena
Location: Mexico
Commodities: Gold,Silver
Highlight: Updated Resource and Reserve Estimates for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: This Report provides information on Mineral Resource and Mineral Reserve estimates, and mine and process operations and planning for the Santa Elena mine. The Mineral Resource and Mineral Reserve estimates are reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (May 2014; the 2014 CIM Definition Standards). For the purpose of this Report the following naming convention was adopted The Santa Elena mine is a producing underground gold and silver mining complex owned and operated by the Company’s wholly owned indirect subsidiary, Nusantara de México, S.A. de C.V. (Nusantara). The property is in Sonora, México, approximately 150 kilometres northeast of the state capital city of Hermosillo and seven kilometres east of the community of Banámichi. The property is centered on latitude 30°01.3’N and longitude 110°09.5’W. The Santa Elena mine can be easily accessed year-round by paved highways 90 km east from Hermosillo to Ures, then 50 km north along a paved secondary road to the community of Banámichi, then by a wellmaintained gravel road for seven kilometres to the mine site. The Ermitaño project can be accessed by a 10 kilometres gravel road from the Santa Elena mine.
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