Ermitaño Silver Project

Overview

The Ermitaño Project is a gold/silver mineral exploration project located in the Sonora State, Mexico. Ermitaño is located four kilometres southeast of the Santa Elena Silver/Gold Mine, a silver and gold producing complex operated by First Majestic.

Location

Ermitaño is approximately 145 kilometres northeast of Hermosillo and contiguous with Santa Elena Mine near the intersection of 29° 59´ 29.25” north latitude and 110° 05´24.95” west longitude and 12km west of Banamichi.  

Ermitano West Map

Following the discovery in late 2016, the company released a maiden Inferred Mineral Resource in early 2018 of 40.8 million silver equivalent ounces.

The company is currently advancing the Ermitaño West deposit with an ongoing 13,000 metre drilling program with three diamond drills on site designed to infill the Inferred Mineral Resource, extend the deposit at depth, to the west, and to test the Aitiana vein.

Ermitano Vein Trace photo

Mineral Resources

Ermitano Mineral Resources Table

  1. Mineral Resources have been classified in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves, whose definitions are incorporated by reference into NI 43-101.
  2. Metal prices considered for Mineral Resource estimates were $20.00/oz Ag and $1,450/oz Au
  3. The Mineral Resources information provided above is based on internal estimates prepared as of December 31, 2017. The information provided was reviewed and validated by Jesus M. Velador Beltran, MMSA, QP Geology for First Majestic, who has the appropriate relevant qualifications, and experience in geology and resource estimation.

Local Geology & Mineralization

The Ermitaño West area contains a network of east–west trending low sulphidation epithermal veins and stockwork within an area of 1,200 metres long 600 metres wide.   Vein textures suggest a shallower level of exposure in the low sulphidation epithermal environment compared to Santa Elena. Surface sampling includes 946 chip and channel samples which average 0.12 gpt Au and ranging up to 6.67 gpt Au

Ermitaño West Drill Results

In October 2016, First Majestic began a diamond drilling campaign at Ermitaño West. Ten drill holes were completed over a total of 3,156 metres which defined the current 40.8 million silver equivalent resource below.

Hole_ID From To Length True Width Ag g/t Au g/t AgEq g/t
EW-16-01 97.25 107.45 10.20 9.85 10 0.73 66
including 97.25 97.65 0.40 0.39 13 1.88 158
  100.20 101.60 1.40 1.35 13 1.92 162
EW-16-02 157.50 168.20 10.70 9.27 28 1.25 125
including 163.95 168.20 4.25 3.68 58 2.46 248
EW-16-03 196.60 204.10 7.50 6.80 23 1.99 178
including 199.55 202.05 2.50 2.27 37 5.33 449
EW-16-04 224.50 242.45 17.95 16.87 86 11.39 967
including 233.10 236.35 3.25 3.05 242 34.56 2,917
EW-16-05 130.40 152.55 22.15 20.81 57 4.77 426
including 133.85 138.60 4.75 4.46 89 10.75 921
EW-16-06 271.30 294.90 23.60 20.44 252 4.79 622
including 271.30 277.70 6.40 5.54 757 13.25 1,783
EW-16-07 no significant intercept        
EW-16-08 351.70 364.00 12.30 11.56 47 2.94 274
including 357.75 360.80 3.05 2.87 48 5.60 481
EW-17-09 271.30 282.25 10.95 10.29 76 3.81 370
including 271.30 271.80 0.50 0.47 76 12.92 1,075
EW-17-10 147.40 152.85 5.45 4.94 65 4.82 438

Infrerred photo

Photo Gallery

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