First Majestic Silver Gets Permits for Santa Elena Mine Expansion

First Majestic Silver Corp. (AG) received construction permits for the Santo Niño and Navidad portals at its Santa Elena mine in Mexico, the company said Tuesday. It plans to invest an additional $12 million this year to accelerate underground access and push the Santo Niño project toward near-term production.

The permits follow positive infill drilling results from both vein systems. The company said the intercepts, including high-grade silver and gold, outperformed initial models and support efforts to convert inferred mineral resources into indicated resources for future mine planning.

Management expects both targets to become major contributors to the Santa Elena site, with the potential to extend the mine's lifespan. Work is ongoing to expand infrastructure and convert resources, the company said.