First Majestic Silver [TSX: FR | NYSE: AG] Jerritt Canyon Gold Mine Overview

First Majestic acquired the Jerritt Canyon Gold Mine from Sprott Mining Inc. on April 30, 2021.

The Jerritt Canyon property contains 30,821 hectares of mining claims located in the mining friendly state of Nevada. The Jerritt Canyon deposit was discovered in 1972 and first gold production from the property occurred in 1981.

Open pit mining was conducted from early 1981 until late 1999, with the mining carried out in the areas of Marlboro Canyon, Alchem, Lower North Generator Hill, Upper North Generator Hill, West Generator, Burns Basin, Mill Creek, Pattani Springs, California Mountains, Dash, Winters Creek, Steer Canyon, and Saval Canyon. The annual production from these areas ranged from approximately 40,000 ounces to 1.4 million ounces.

Underground operations started in 1997 at SSX, and continued until 2008 with production from the Steer, Murray, MCE, Smith, West Generator, and Saval deposits. In 2009, a new mine plan was prepared. Underground mining from the Smith deposit recommenced in late January 2010 and underground mining at SSX recommenced in early October 2010.

From the start of mining in 1980 to the end of December 2020, approximately 9.7 Moz Au were produced from approximately 49 Mst of ore mined at an average grade of 0.199 oz/st Au.

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