VANCOUVER, British Columbia, July 11, 2017 (GLOBE NEWSWIRE) — First Majestic Argent Corp. (NYSE:AG) (TSX:FR) (“First Majestic” or the “Company”) announces absolute assembly in the added division of 2017 from its six operating argent mines accomplished 3.9 actor agnate ounces of silver. Absolute assembly consisted of 2.3 actor ounces of silver, 15,186 ounces of gold, 7.6 actor pounds of advance and 0.9 actor pounds of zinc.
“During the quarter, argent assembly was impacted by abnormal efforts by amalgamated workers to illegally agitate mining activities which acquired accessory stoppages at La Parrilla, Santa Elena and a added austere abeyance at our La Encantada operation,” said Keith Neumeyer, President & CEO. “Pointing to a specific account is difficult – whether due to college gasoline prices or college taxes in Mexico – but artisan annoyance amid abutment advisers throughout the Mexican mining industry is at the accomplished levels witnessed in the Company’s fifteen year history.”
Mr. Neumeyer continued, “I am, however, admiring that our accomplishments to bright the three blockades and resume mining activities were successful. The National Abutment and Confederation of Mexican Workers Abutment were both admiring of the accomplishments taken by the Aggregation which are accepted to advance to improvements in abundance at anniversary of the operations in the advancing quarters. We ahead assembly to be aback on clue in the third division and will assignment to compensate absent burden over the of 2017. It is important to agenda that the architecture of the new broiler at La Encantada was artless by the assignment abeyance and charcoal on agenda to be completed in aboriginal 2018.”
Production Details Table:
Quarterly Operational Review:
Total ore candy during the division at the Company’s six operating argent mines: Santa Elena, La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra, amounted to 691,833 tonnes apery a 16% abatement compared to the antecedent quarter. The abatement was primarily due to three actionable blockades in the division which amounted to four canicule at La Parrilla, two canicule at Santa Elena and 42 canicule at La Encantada.
Silver grades in the division averaged 130 g/t compared to 136 g/t in the antecedent quarter. Argent grades abide beneath account primarily due to lower than accepted grades at Santa Elena, La Encantada and La Parrilla.
Combined argent recoveries averaged 79%, up 5% compared to the antecedent quarter’s boilerplate of 75%. The admission in argent recoveries was primarily due to the lower throughput ante and lower manganese grades at La Encantada.
The Company’s underground development in the added division consisted of 15,121 metres, absorption an 11% admission compared to 13,571 metres completed in the antecedent quarter. Development focused on aperture new assembly areas, exploring aerial abeyant zones and new stope preparation. As of June 30, 2017, the Aggregation had completed about 38% of the 74,850 metres of underground development approaching for 2017.
During the quarter, a absolute of 17 design assignment rigs were alive beyond the Company’s backdrop consisting of 16 rigs at the six bearing mines and one rig at the Plomosas Argent Project. A absolute of 29,070 metres in 164 assignment holes were completed on the seven properties. As of June 30, 2017, the Aggregation had completed about 32% of the 183,000 metres of analysis conduct approaching for 2017. The Aggregation is planning to admission the rig adding to 25 rigs in the added bisected of 2017 in adjustment to accomplish affairs targets.
Mine by Abundance Quarterly Assembly Table:
*Certain amounts apparent may not add absolutely to the absolute bulk due to rounding differences.*The afterward prices were acclimated in the adding of argent agnate ounces: Silver: $17.21 per ounce; Gold: $1,257 per ounce; Lead: $0.98 per pound; Zinc: $1.18 per pound.
At the Santa Elena Silver/Gold Mine:
At the La Encantada Argent Mine:
At the La Parrilla Argent Mine:
At the Del Toro Argent Mine:
At the San Martin Argent Mine:
At the La Guitarra Argent Mine:
Q2 Earnings Announcement and Appointment Call
The Aggregation is planning to absolution its added division 2017 unaudited banking after-effects on Thursday, August 3, 2017.
Furthermore, the Aggregation will be captivation a appointment alarm and webcast on Friday, August 4, 2017 at 10 am PDT (1 pm EDT).
To participate in the appointment call, amuse punch the following:
Participants should punch in 10 account above-mentioned to the conference.
Click on WEBCAST on the First Majestic homepage as a accompanying audio webcast of the appointment alarm will be acquaint at www.firstmajestic.com.
The appointment alarm will be recorded and you can accept to an annal of the appointment by calling:
The epitomize will be accessible about one hour afterwards the appointment and will accessible for 7 canicule afterward the conference. The epitomize will additionally be accessible on the Company’s website for one month.
About the Company
First Majestic is a mining aggregation focused on argent assembly in Mexico and is aggressively advancing the development of its absolute mineral acreage assets. The Aggregation anon owns and operates six bearing argent mines; the La Parrilla Argent Mine, the San Martin Argent Mine, the La Encantada Argent Mine, the La Guitarra Argent Mine, Del Toro Argent Abundance and the Santa Elena Silver/Gold Mine. Assembly from these six mines is projected to be amid 11.1 to 12.4 actor ounces of authentic argent or 16.6 to 18.5 actor ounces of argent equivalents in 2017.
FOR FURTHER INFORMATION acquaintance [email protected], appointment our website at www.firstmajestic.com or alarm our assessment chargeless cardinal 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.”signed”Keith Neumeyer, President & CEO
Cautionary Agenda Regarding Forward Looking Statements
This columnist absolution contains “forward-looking statements”, aural the acceptation of the United States Private Balance Action Reform Act of 1995 and applicative Canadian balance legislation, apropos the business, operations and banking achievement and action of First Majestic Argent Corp. Advanced statements include, but are not bound to, statements with account to the approaching bulk of argent and added metals, the admiration of mineral affluence and resources, the ability of mineral assets estimates, the timing and bulk of estimated approaching production, costs of production, basic expenditures, costs and timing of the development of new deposits, success of analysis activities, allowing time lines, ambiguity practices, bill barter amount fluctuations, requirements for added capital, government adjustment of mining operations, ecology risks, hasty affirmation expenses, timing and accessible aftereffect of awaiting litigation, appellation disputes or claims and limitations on allowance coverage. Generally, these advanced statements can be articular by the use of advanced analogue such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or accompaniment that assertive actions, contest or after-effects “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Advanced statements are accountable to accepted and alien risks, uncertainties and added factors that may account the absolute results, akin of activity, achievement or achievements of First Majestic Argent Corp. to be materially altered from those bidding or adumbrated by such advanced statements, including but not bound to: risks accompanying to the affiliation of acquisitions; risks accompanying to all-embracing operations; risks accompanying to collective adventure operations; absolute after-effects of accepted analysis activities; absolute after-effects of accepted affirmation activities; abstracts of bread-and-er evaluations; changes in action ambit as affairs abide to be refined; approaching prices of metals; accessible variations in ore reserves, brand or accretion rates; abortion of plant, accessories or processes to accomplish as anticipated; accidents, labour disputes and added risks of the mining industry; delays in accepting authoritative approvals or costs or in the achievement of development or architecture activities, as able-bodied as those factors discussed in the area advantaged “Description of the Business – Risk Factors” in First Majestic Argent Corp.’s Annual Information Form for the year concluded December 31, 2016, accessible on www.sedar.com, and Form 40-F on book with the United States Balance and Barter Commission in Washington, D.C. Although First Majestic Argent Corp. has attempted to analyze important factors that could account absolute after-effects to alter materially from those independent in advanced statements, there may be added factors that account after-effects not to be as anticipated, estimated or intended. There can be no affirmation that such statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. Accordingly, readers should not abode disproportionate assurance on advanced statements. First Majestic Argent Corp. does not undertake to amend any advanced statements that are congenital by advertence herein, except in accordance with applicative balance laws.
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