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925 West Georgia St.
Suite 1805 Vancouver, B.C. Canada V6C 3L2 Phone: 604.688.3033 Toll Free: 1.866.529.2807
TSX: FR
Pink Sheets: FRMSF Frankfurt: Symbol - FMV WKN - A0LHKJ | | |
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» La Parrilla Silver Mine » San Martin Silver Mine » La Encantada Silver Mine » Del Toro Silver Mine » Real de Catorce Silver Project  | | | Del Toro Silver Mine The Del Toro Silver Mine, located in the Municipality of Chalchihuites, Zacatecas State, México, was formerly referred to as the Chalchihuites Group of Properties and consists of polymetallic deposits containing silver/lead/zinc in both oxides in the upper parts and sulfides at depth. Exploration and development at Del Toro is currently focused on the investigation of two areas, the San Juan and Perseverancia areas within the project's holdings. Other areas of interest within the project's concessions will be explored in future programs. Exploration efforts at Del Toro have been highly successful in delineating a significant resource base within a short period of time and at relatively low cost. To July 31, 2008, the Del Toro Measured and Indicated Resources represented about 21M ounces of silver equivalent for the San Juan and Perseverancia deposits. Additionally, about 36M ounces of silver equivalent were estimated in Inferred Resources for both deposits. Del Toro mineralization occurs associated with lead and zinc in polymetallic mineralization; therefore, to report silver equivalent ounces estimated metallurgical recoveries were considered (see full report for details). Del Toro consists of mining rights that cover 393 hectares (971 acres) within 21 titled concessions. Access to the properties is easily achieved due to the close proximity to the Interstate 45 highway and the state roads which connect the Chalchihuites Town and several country and trail roads connect most of the claims. Local infrastructure, including electricity, water and telephones are all presently available. Basic facilities, restaurants, hotels and gas stations can be found in Chalchihuites Town. Major services, banks, repair shops, etc, can be found in Vicente Guerrero Town and in Sombrerete town located both just 50 km away. Driving distance to First Majestic's La Parrilla Silver Mine is approximately 1 hour. Del Toro consists of numerous areas of interest for mineral exploration within the Chalchihuites mining district, including the San Juan and the Perseverancia areas. Both the San Juan and Perseverancia were historic mines; the Perseverancia was mined for high grade silver rich sulphide ore and the San Juan is believed to be the oldest mine in the district dating back possibly 500 years. Three mineral concentrations in different deposits have been identified at the San Juan area, by underground exploration development and diamond drilling, including the Deposit No. 3 of "high grade" mineralization at depth. The San Juan deposits show lengths that vary between 100m to 300m along strike and up to 200m in vertical projections and widths of up to 20m at Level 5 of Deposit No. 1. These deposits have only been partially identified and are 'open' for further exploration in all directions. The exploration and development continues.
San Juan mine The San Juan mine was first exploited by the Spaniards over 500 years ago. There has been much activity in the development and exploitation of the mine since that time. The main features of past development and mining is a 90 metre deep vertical shaft (which is open and in use as ventilation) and at least 6 levels within the old mine. No mining in the San Juan area has been done during the past 35 years except for the work that First Majestic is undertaking today.
Direct development of the mine is underway and test-stoping in the upper areas of the mine is being done, and the ore is being shipped to the La Parrilla process plant. In addition, some lower grade oxide ores have been obtained from development work, and this material has also been shipped to the La Parrilla plant. This test mining has been ongoing since early 2008 and is for the purpose of developing the mine for a much larger operation in the future. This development ore has had an average grade of 203 gpt Ag, 1.6 percent Pb and 2.0 percent Zn and consisted of 25,537 tonnes for the first six months of 2008. Perseverancia mine
Direct development of the mine is underway. To date, development ore from the mine, dependant on grade, has either been shipped to the La Parrilla plant or direct shipped to the smelter. In addition, high-grade ore from the old Perseverancia mine dumps is being recovered and sent to the La Parrilla. For the first six months of 2008, there was a total of 244 tonnes sorted from the old dumps returning an average grade of 1,086 gpt Ag, 23.0 percent Pb and 9.02 percent Zn. This material was direct shipped to the smelter in Torreon. An important objective which is presently underway is to conduct direct underground exploration of the two principal chimneys and ascertain if parts of them were not exploited in past operations as indicted on maps of the mine and geophysics work which indicates the chimneys extend to depth. A development from surface is presently under construction. This ramp is primarily for the purpose of exploration, however, it is expected this ramp will subsequently be used as access for ore haulage in the future. In addition to the underground rehabilitation and development, construction of a new head frame has recently been completed which is capable of extracting 250 tonnes of ore from the mine daily. Future of the Del Toro Silver Mine It is expected that Del Toro will become First Majestic's fourth producing silver mine. The ore being extracted now and sent to the LA Parrilla is for the purpose of developing these two old mines into a combined stand alone operation. With the release of the first NI 43-101 Resource estimate which came in at a much higher number that originally anticipated, it has become certain that Del Toro will become a new operating mine.
Permitting and enviormental studies are underway in order to pave the way to break ground on a new mill in 2009. Once further details of timing of this exciting development are known, announcements will be made. For more detailed geological information, readers are encouraged to review the Company's most recent NI 43-101 report (PDF, 8.12 Mb). | | |
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| ©2009 First Majestic Silver Corp. All Rights Reserved. |
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