First Majestic Announces Second Gold-Silver Discovery at Santa Elena and Navidad Expansion

Published: May 29, 2025 18:11

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[First Majestic Announces Second Gold-Silver Discovery Within a Year at Santa Elena; Navidad Expansion Confirms Higher-Grade Mineralization]

First Majestic Silver Corp. (NYSE: AG; TSX: AG) announced in May that it has made a second significant gold-silver discovery within a year at its Santa Elena project in Sonora, Mexico. The newly identified Santo Niño vein is located approximately 900 metres south of the Santa Elena processing plant. Concurrently, continued drilling at the Navidad deposit has significantly expanded the mineralized footprint and returned grades well above those estimated in the initial resource model.

With the addition of Santo Niño and the ongoing expansion at Navidad, the Santa Elena property now hosts four major gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño — highlighting the district’s growing scale and exploration potential.

Drilling at the Navidad/Winter vein system, following the maiden inferred resource estimate, has extended the mineralized zone significantly. Drillhole EWUG-25-050, located over 100 metres east of previous drilling, intercepted the highest-grade mineralization to date on the property.

First Majestic stated that the growth in mineralized volume and grade at both Santo Niño and Navidad is expected to meaningfully extend the mine life of the Santa Elena operation and unlock further value across its portfolio.

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