First Majestic Silver
First Majestic owns 100% of four producing mines: the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.
The San Dimas Silver/Gold Mine is located approximately 130 km northwest of Durango, Durango State, Mexico and consists of 71,868 hectares of mining claims located in the states of Durango and Sinaloa, Mexico. San Dimas is one of the country’s most prominent silver mines and the largest producing underground mine in the state of Durango with over 250 years of operating history. The San Dimas operating plan involves processing ore from several underground mining areas with a 2,500 tpd capacity milling operation which produces silver/gold doré bars. The mine is accessible via a 40-minute flight from the Durango International Airport to the private airstrip in the town of Tayoltita.
The Jerritt Canyon Gold Mine is located in Elko County, Nevada. Jerritt Canyon was discovered in 1972 and has been in production since 1981 having produced over 9.7 million ounces of gold over its 40-year production history. The operation has one of three permitted gold processing plants in Nevada that uses roasting in its treatment of ore. The processing plant has a capacity of 4,500 tonnes per day (“tpd”) and is currently operating at an average rate of approximately 2,200 tpd due to limited ore production from two underground mines. The property consists of a large, underexplored land package consisting of 30,821 hectares (119 square miles). First Majestic has identified several opportunities to enhance both the cost and production profile of Jerritt Canyon as well as near-term brownfield potential between the SSX and Smith mines and long-term property wide exploration potential.
The Santa Elena Silver/Gold Mine is located approximately 150 kilometres northeast of the city of Hermosillo, Sonora, Mexico, and controls mining concessions totaling 102,244 hectares. The operating plan for Santa Elena involves the processing of ore in a 3,000 tpd cyanidation circuit from a combination of underground reserves and spent ore from the previous heap leach pad. In early 2022, the Company expects to begin feeding fresh ore from the Ermitaño project which is located only 4km southeast of the mill.
The La Encantada Silver Mine is an underground mine located in the northern México State of Coahuila, 708 kilometres northeast of Torreon. La Encantada has 4,076 hectares of mineral concessions and surface land ownership of 1,343 hectares. La Encantada also has a 4,000 tpd cyanidation plant, a camp with 180 houses as well as administrative offices, laboratory, general store, hospital, airstrip, and all infrastructure required for such an operation. The mine is accessible via a two-hour flight from the Durango International Airport to the mine’s private airstrip, or via an improved road from the closest city, Muzquiz, Coahuila State, which is 225 kilometres away.
Management strongly believes that investors are set to benefit from rising silver prices due to growing industrial and investor demands for silver. For this reason, the Company continues to focus on growing production and the development of its core assets. This growth and development are backed by smart accretive merger and acquisition transactions, industry leading technological advancements and R&D. With an experienced Management team comprised of proven company and mine builders, shareholders are poised to capitalize on First Majestic’s exceptional organic growth plans and industry-leading silver exposure. We are a diverse and inclusive organization, committed to socially responsible mining. and strive to become the world’s largest primary silver producer.