Mel Herdrick, Sonoro’s Vice President of Exploration, noted that “I continue to be encouraged by the results of the Phase IV drilling campaign which has returned multiple higher-grade intercepts and demonstrated resource growth potential near surface and at depth.”
First Majestic Silver Corp. is pleased to announce that it has entered into a definitive agreement dated May 24, 2022 to sell its 100% owned past producing La Guitarra Silver Mine located in the Temascaltepec mining district, Mexico State to Sierra Madre Gold & Silver Ltd. for total consideration of US$35 million.
Greg Liller, Sierra Madre´s Executive Chairman and Chief Operating Officer commented, “Based on my experience with running the La Guitarra mine and overseeing the district´s first large-scale exploration program, I have always believed La Guitarra is one of the largest undeveloped silver opportunities in Mexico.”
Bill Pincus, Chief Executive Officer and Director stated: “We have successfully completed targeting based on remote image interpretation and are now actively engaged in the field sampling and mapping new areas at our flagship Santa Daniela gold project. The work completed so far has been yielding positive results and we remain on track to identify new drill targets by year-end.”
“With the development of Media Luna and growth ambitions ahead of us, we will increase the positive impact we are making in Mexico and beyond and continue to demonstrate what responsible gold mining looks like.”
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