Plomosas Silver Project
 Plomosas Silver Project Mining Claims |
 Old Plant at Plomosas |
Plomosas is 100% owned by First Majestic Silver Corp. as the project was acquired in 2012 as a result of the acquisition of Silvermex Resources. The mining concession totals 16,279 hectares in southeast Sinaloa, Mexico.
The Plomosas mining district is historically known as a significant area for silver, gold, lead and zinc production. There are two key areas of interest within the mining camp: Rosario and San Juan. Extensive facilities and infrastructure are in place on the property, including a fully functional mining camp facility, a 20 year surface rights agreement in good standing, a 30 year water use permit, tailings dam, 60 km - 33 KV power line, 120 man camp, infirmary, offices, shops and warehouses, and an assay lab. As well, extensive underground development at the Rosario and San Juan mines allow rubber tire access to mineralized zones. These existing developments will allow First Majestic to accelerate development at a significant cost savings.
The Company is utilizing the mining camp infrastructure while it continues to develop the projects toward a commercial production decision. Future plans include the preparation of an NI 43-101 resource estimate and the continued exploration at depth and along strike of the existing known structure. The Company will also collect material for advanced metallurgical testing and, if justified, develop a comprehensive mine plan for the potential extraction of the resource.
Location
The Plomosas land package is located approximately 94 km southeast of Mazatlan in southeast Sinaloa, Mexico and is adjacent to the town of Rosario.
Rosario Mine
A 2001 report by Grupo Mexico states that the Rosario Mine has existing historic reserves and resources of 638,756 tonnes grading 136 g/t Ag, 3.21 % Zn, 2.23 % Pb, and 1.05 g/t Au*. The Mine has extensive development and has been partially refurbished by the previous operator in preparation for an 800 tpd operation and has also been dewatered and undergone partial rehabilitation. The historic reserves are located in a number of mineral zones, which include the Veta Plomosas, Plomositas, Lead-Zinc Stock Work and Silver Stock Work.
Extensive data collection, underground mapping, control surveys, resource modeling and preliminary exploration programs have been completed by the prior operator. An extensive underground channel sampling program has been completed at Rosario, which yielded positive results with numerous high grade intersections of gold, silver, lead and zinc. The stock work zones have potential for tonnage expansion along the strike and dip of the Rosario fault structure.
San Juan Mine
The San Juan Mine is located near the Plomosas mill site. Grupo Mexico reported historic reserves and resources of 256,756 tonnes grading 329.3 g/t Ag, 3.73% Zn, 1.69% Pb, and 0.19 g/t Au*.
The San Juan development consists of a main adit approximately 5 m in width, 5 m in height and 250 m long, a crosscut extending easterly for 150 m, plus a ramp with a further 150 m development. The mineralized structure averages 3 m in width and has been traced down dip for approximately 150-200 m. A decline has been driven into the San Juan zone and has been tested over a vertical distance of 40 m with the zone still open to depth.
Extensive data collection, underground mapping, control surveys and exploration programs have been completed at San Juan by previous operators.
Reserves & Resources
| Category | Tonnes (Mt) | Silver Grade g/t | Silver only Contained (M oz) | Silver Eqv (Au, Pb, Zn) Contained (M oz) |
|---|---|---|---|---|
Historical Reserves |
0.90 | 191 | 5.51 | 6.81 |
* The reader should be cautioned the historic reserves and resources at Plomosas do not conform to National Instrument 43-101 for reporting purposes; as such the Company is not treating these historic estimates as current reserves or resources. The historical reserves do not have demonstrated current economic viability and are being treated as historical resources. These estimates should not be relied upon until they have been verified by further due diligence and by the Company's "Qualified Person".