FULL DISCLOSURE: First Majestic Silver is a sponsor of theDeepDive.ca.
First Majestic Silver (TSX: AG) (NYSE: AG) has announced assay results from their 2025 exploration drill program at the Jerritt Canyon Gold Mine in Nevada. The campaign, which included 57 drill holes totaling 18,300 metres, successfully confirmed resource continuity.
The findings suggest substantial potential for expanding both underground and near-surface open-pit resources. Chief Executive Officer Keith Neumeyer noted that the current metal price environment has allowed the company to broaden its strategy across the district.
“With the improved metal price environment, our team has expanded its focus to test both known underground targets as well as open-pit opportunities, which have yielded encouraging results,” commented Neumeyer.
Highlight intercepts from the program include:
- MA-24-017: 3.43 g/t gold over 24.4 metres from 294.1 metres depth at Mahala/Javelin
- MA-25-008: 9.43 g/t gold over 7.6 metres from 137.2 metres depth at Mahala/Javelin
- MA-25-009: 2.23 g/t gold over 18.3 metres from 141.7 metres depth at Mahala/Javelin
- SC-25-003: 1.48 g/t gold over 51.8 metres from 195.1 metres depth at Saval
The program itself was focused on exploring for new mineralized zones beneath cover rocks, as well as assessing the continuity of known mineralization. High-grade intercepts were concentrated in the Mahala and Javelin targets, located between the Smith and SSX underground mines. At Javelin, surface drilling yielded notable intercepts, including 7.6 metres at 9.43 g/t gold and 18.3 metres at 2.23 g/t gold.
READ: First Majestic Q4 2025: Record Revenue, Earnings, Annual Silver Output
Step-out drilling at the Mahala target also returned strong data, intersecting 24.4 metres grading 3.43 g/t gold, with indications that gold mineralization remains open to the east towards the Javelin target.
In the Saval area, the company tested shallow targets amenable to open-pit mining methods. One drill hole, SC-25-003, intersected 51.8 metres grading 1.48 g/t gold, including a high-grade section of 12.2 metres at 3.23 g/t gold.
“The success of our 2025 drilling program at Jerritt Canyon reaffirms our confidence in the potential of this district,” Neumeyer said. He emphasized that the results represent an important step toward unlocking the full value of the company’s 30,000-hectare land package.
First Majestic plans to use this data to update geological models and prioritize further drilling. The company continues to focus on resource growth and operational optimization at its Nevada assets.
First Majestic last traded at $36.27 on the TSX.
FULL DISCLOSURE: First Majestic Silver Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Majestic Silver Corp. The author has been compensated to cover First Majestic Silver Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
