First Majestic Silver Corp. released its 2025 Mineral Reserve and Resource estimates on March 31 2026, reporting a 4 % year‑over‑year increase in proven and probable reserves to 184.8 million silver‑equivalent ounces (AgEq). The 2024 figures were 177.6 million AgEq, so the jump reflects a solid expansion of the company’s core asset base.
Measured and indicated resources climbed to 652.8 million AgEq, a 50 % rise from the 434.2 million AgEq reported for 2024. Inferred resources grew to 592.3 million AgEq, a 69 % increase over the prior year’s 352.5 million AgEq. These gains are driven largely by higher metal price assumptions—$35/oz for silver and $3,100/oz for gold—which lowered cut‑off grades and expanded the economic envelope of several deposits.
The most significant contributor to the resource expansion was the Santo Niño discovery at Santa Elena, which added 27.4 million AgEq and pushed the mine’s inferred resources to 4.1 million tonnes of ore containing 9.0 million ounces of silver and 210,000 ounces of gold. Jerritt Canyon also benefited from the higher gold price assumptions, lowering its cut‑off grade and adding substantial gold resources. Los Gatos, San Dimas, and La Encantada each added modest amounts, but Santa Elena and Jerritt Canyon were the primary drivers of the overall growth.
CEO Keith Neumeyer said the 2025 estimates represent “an extraordinary chapter in First Majestic’s growth story” and highlighted the company’s “highly effective exploration campaign” and the “increased metal price environment” as key factors behind the expanded resource base. He noted that Santa Elena continued to deliver strong exploration results at the Navidad and Santo Niño discoveries, Los Gatos contributed meaningful growth, and Jerritt Canyon reported a substantial increase in gold resources as bulk‑tonnage mining opportunities emerged.
The updated reserve and resource figures reinforce First Majestic’s long‑term production potential and strengthen its competitive position in the silver‑gold sector. The company’s addition to the FTSE All‑World Index further supports trading liquidity and signals broader market confidence in its asset portfolio.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.