La Frazada Silver Project



Overview



La Frazada Silver Project Mining Claims
The La Frazada project is 100% owned by First Majestic Silver Corp. as the project was acquired in 2012 as a result of the acquisition of Silvermex Resources. First Majestic holds the La Frazada project through one exploitation concession which totals 299 hectares. The Company is currently assessing La Frazada to determine if the property fits within the Company's portfolio.


Location

The La Frazada Mine is located in the historic mining district of 'Real del Zopilote' within the state of Nayarit, Mexico. The property is approximately 300 km northwest of Guadalajara.


Local Geology

The La Frazada property lies along the southwest margin of the Sierra Madre Occidental. It is along the contact between the Upper and Lower Volcanic Series, which is an unconformity that hosts many of the significant precious metal deposits in the area.

Specifically, the geology consists of Tertiary age, Lower Volcanic andesites overlain by Upper Volcanic rhyolites, tuffs, breccias and ignimbrites. All of the volcanic rocks have been affected by intrusions of granodiorite, diorite and andesitic porphyry. The primary mineralized zones are La Jabalina and La Frazada Veins. These two parallel structures lie between 10 and 15 metres apart and vary in width from 3 to 15 metres.

For more information, readers are encouraged to review the Preliminary Resource Estimate (PDF) (not NI 43-101 compliant).


Reserves & Resources

Category Mineral Type Tonnes
(Mt)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Ag
(Moz)
AgEq
(Moz) in situ
Measured + Indicated (UG) Sulphides 0.58 251 0.17 0.90 2.40 4.70 6.50
Inferred (UG) Sulphides 0.53 225 0.17 0.90 2.60 3.86 5.62

*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.