La Luz Silver Project



Overview


Overlooking Real de Catorce
The La Luz Silver Project is 100% owned by First Majestic Silver Corp. The property was acquired in 2009 as a result of the acquisition of Normabec Mining Resources. The site consists of mining concessions that cover 4,974 hectares and is located within Real de Catorce, a historically significant mining district with an estimated historic production of 230 million ounces of recovered silver between 1773 and 1990.


Location

The La Luz Silver Project is located in the northern portion of San Luís Potosí State, Mexico. The property is approximately 25 km west of the town of Matehuala and 170 km due north of the city of San Luís Potosí, the state capital.


Local Geology

The ore deposits in the district are epithermal veins system-low sulfidation type which are hosted in sedimentary rocks ranging in ages from Paleozoic (metamorphosed sediments), Triassic (Huizachal Formation), Jurassic (Zuloaga and La Caja limestones) to mid-Tertiary (Quartz-monzonite dikes and Basalts). The main veins are: San Agustin (N50°W, 2,300 metres long, 2 to 10 metres wide), Veta Madre (N62°W, 2,500 metres long, 1 to 10 metres wide), Ave Maria (N70°E, 550 metres long, 0.5 to 6 metres wide) Villanos-San Ramón (N40°W, 1,200 metres long, 0.1 to 5 metres wide) and San Agustín system (N48°W, 2,200 metres long, 0.2 to 10 metres wide). There are also several blind (not outcropping) veins that were intersected by drill holes. Economic mineralization is in almost vertical ore-shoots with vertical extensions of 200 to 400 metres. The presence of the most important ore shoots are related with favorable rocks like La Caja and Zuloaga limestones and in the inflections and intersection of structures.

For more detailed geological information on the La Luz Silver Project, readers are encouraged to view the full NI 43-101 Technical Report (PDF).


Reserves & Resources

Category Mineral Type Tonnes
(Mt)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Ag
(Moz)
AgEq
(Moz) in situ
Measured + Indicated (UG) Oxides + Sulphides 5.11 205 - - - 33.71 33.71
Inferred (UG) Oxides + Sulphides 1.85 220 - - - 13.12 13.12

*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.

For the La Luz Silver Project, there have been no changes since the technical report dated July 25, 2008, except an update of Ag Eq. according to recent metal prices.


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.