First Majestic Reports Positive Exploration Results at San Dimas Mine.

First Majestic Silver reported positive exploration results at its San Dimas Silver/Gold Mine, highlighting high-grade silver and gold mineralization in multiple veins, including the newly discovered Coronado vein. The results reinforce the mine's potential for expansion and resource growth, supporting its status as a cornerstone asset for the company's long-term growth strategy.

First Majestic Silver (TSX, NYSE: AG) has reported encouraging exploration results at its San Dimas mine in Mexico, highlighting high-grade silver and gold mineralization in multiple veins, including the newly discovered Coronado vein. The drilling results reinforce the mine's potential for expansion and resource growth, supporting its status as a cornerstone asset for the company's long-term growth strategy.

The latest drilling campaign at San Dimas, located 125 km northeast of Mazatlán in Durango state, has revealed two significant intercepts. At the Elia vein, hole ELI25X-1 intersected 3.57 metres grading 15.93 grams gold per tonne and 1,112 grams silver. In the newly discovered Coronado structure, drilling intersected 2.12 metres grading 2.59 grams gold and 327 grams silver [1].

These results are characteristic of San Dimas’ low-sulphidation narrow-vein system, which is known for its high-grade shoots in quartz veins. The company's president and CEO, Keith Neumeyer, stated, "These new results confirm our view that San Dimas has significant growth opportunities and remains a cornerstone asset for our long-term growth strategy" [1].

The 112,000-metre drill program is designed to target new veins, expand resources, and upgrade inferred material to indicated near current development headings. The focus is on targets that can move into short- and medium-term mine plans, while also exploring district-scale areas to test parallel structures like Coronado [1].

San Dimas is a critical asset for First Majestic and is important to precious metals streamers, such as Wheaton Precious Metals (TSX, NYSE, LSE: WPM), with whom it has a long-term agreement tied to its mine output. Discoveries and converting inferred resources to indicated at veins near active sites help maintain life-of-mine production profiles under those agreements [1].

First Majestic shares fell 2.7% or 33¢ by mid-Tuesday in Toronto to $11.81 (US$8.52), but shares are still up 50% over the past 12-months. It has a market capitalization of $5.8 billion [1].

The project hosts proven and probable reserves of 3.2 million tonnes at 245 grams silver and 2.84 grams gold per tonne for 25.5 million oz. silver and 294,000 oz. gold, or 51.2 million oz. silver-equivalent metal [1].

What to watch next is whether follow-up step-outs along Coronado can show continuity and thickness over meaningful distances. Additional results from Roberta and Santa Teresa will indicate how quickly new ounces can be scheduled into the mine plan [1].

References:
[1] Northern Miner. (2025). Coronado Find Extends First Majestic’s San Dimas. Retrieved from [https://www.northernminer.com/news/coronado-find-extends-first-majestic-silvers-san-dimas/1003881710/](https://www.northernminer.com/news/coronado-find-extends-first-majestic-silvers-san-dimas/1003881710/)