Del Toro Silver Mine




Aerial View of the Del Toro Silver Mine
Overview

The Del Toro Silver Mine is 100% owned by First Majestic Silver Corp. Initial production at Del Toro's flotation circuit commenced in the first quarter of 2013, making it First Majestic's fifth producing silver mine. By the fourth quarter of 2013, the cyanidation circuit was successfully commissioned allowing for the production of silver doré bars. Current mining operations consist of production from four different underground areas (San Juan, Perseverancia, San Nicolas and Dolores).


Location

The Del Toro Silver Mine is located in the Municipality of Chalchihuites, Zacatecas, Mexico. The site is just 60 km southeast of the Company's La Parrilla Silver Mine and will benefit from the local infrastructures (electricity, water and telephones) that are presently available in the area. Basic facilities including restaurants, hotels and gas stations can also be found in Chalchihuites, while major services including banks, repair shops, etc. can be found in Vicente Guerrero town and in Sombrerete town, both located just 50 km away. Access to the property is easily achieved due to the close proximity of Interstate 45 and the state roads which connect the Chalchihuites town to most of the mining claims.





Above: Construction at Del Toro


Operating Highlights

Del Toro Production Results
2013
Ore Processed/Tonnes Milled
319,861
Average Silver Grade (g/tonne)
213
Recovery (%)
68%
Total Silver Ounces Produced
1,484,598
Gold Ounces Produced
300
Pounds of Lead Produced
8,400,642
Pounds of Zinc Produced
1,785,219
Total Production - Ounces Silver Equivalent
1,937,136
Underground Development (m)
11,595
Diamond Drilling (m)
11,429


Local Geology, Mineralization & Ore Types

Del Toro is located in the Chalchihuites silver mining district in the north-western part of Mexico, at the border zone between the physiographic provinces of Sierra Madre Occidental and Mesa Central. The mineralization at Del Toro occurs as an assemblage of metasomatic and hydrothermal mineral deposits with high-grade silver content including veins, replacement concentrations, stockworks and breccia zones.


Exploration

Exploration at Del Toro has been primarily focused on the investigation of two areas: the San Juan and Perseverancia areas within the projects holdings. 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, possibly dating back 500 years.

More recently, the San Nicolas and Dolores areas have also been receiving attention. The San Nicolas and Dolores are two new areas of interest that are currently being defined by drilling. They consist of breccia chimney and vein deposits. Preliminary investigations for these two areas include underground development for both mapping and channel sampling to determine the size and quality of mineral deposits.

For more detailed geological information, readers are encouraged to review the Company's most recent NI 43-101 report on the Del Toro Silver Mine.


Reserves & Resources

Category Mineral Type Tonnes
(Mt)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Ag
(Moz)
AgEq
(Moz) in situ
Proven + Probable Oxides + Sulphides 4.04 199 0.10 3.40 3.50 25.83 46.00
Measured + Indicated Oxides + Sulphides 2.28 159 0.03 2.40 1.60 11.65 15.83
Other (Inferred Zn body) Sulphides 4.18 7 0.01 0.20 3.10 0.99 12.52

*In all cases, the metal prices considered were $24.00USD/Oz - Ag, $1,400.00USD/Oz - Au, $0.95 USD/lb - Pb, and $0.90USD/lb - Zn. The Reserve and Resources information provided above is based on internal qualified persons' (QPs) reporting as at December 31, 2013. The information provided was reviewed and validated by the Company's internal QP Mr. Ramon Davila, who has the appropriate relevant qualifications, and experience in mining and resource geology. The modification factors for Reserves and Resources are different, and are different for all mines.

The Reserves/Resources inventories are reported in NI 43-101 Technical Reports published periodically by the Company. The complete report can be viewed in the Reserves/Resources section or on SEDAR.


Surrounding Mining Districts



Del Toro Topographical Map

Mining Claims

San Juan Mine

Additional Exploration Potential

Perseverancia Mine

Underground Potential

Dolores Mine

Dolores Mining Claim