Project UpdateJun 26, 2026, 06:06 AM
First Majestic Gets Permits for Santo Niño & Navidad; Invests $12M
AI Summary
First Majestic Silver Corp. announced it has received construction permits for the Santo Niño and Navidad portals at its Santa Elena Silver/Gold Mine in Mexico. The company plans an additional $12 million investment in 2026 to advance underground access and development, positioning Santo Niño for near-term mining. Infill drilling at both targets continues to yield significant high-grade silver and gold intercepts, which are expected to materially extend Santa Elena's mine life.
Key Highlights
- Received construction permits for Santo Niño and Navidad portals.
- Planned additional $12 million investment in 2026 for underground access and development.
- Infill drilling at Santo Niño returned high-grade silver and gold intercepts, including 1474 g/t AgEq over 1.57m.
- Infill drilling at Navidad returned high-grade silver and gold intercepts, including 2128 g/t AgEq over 2.49m.
- Santo Niño drilling completed 26,904m across 69 holes in 2026.
- Navidad drilling completed 7,704m across 10 holes in 2026.
- Drilling aims to convert Inferred Mineral Resources to Indicated Mineral Resources.
Price Impact
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