Santa Elena

First Majestic Silver Corp.




2009 / 05 / 14




20% Au

Ongoing Payment:


The Santa Elena Mine is located in northern Mexico approximately 150 km northeast of Hermosillo in Sonora State. The mineralization at Santa Elena is classified as a low sulphidation epithermal system and mining and exploration has been focused on a single wide vein. The mine began operating in 2011 as an open pit, heap leach operation and transitioned to an underground mine and mill in early 2014.

Ore is processed into gold-silver doré bars through a processing facility with capacity of 3,350 tpd. A dual-circuit concept with additional leach tank, CCD thickener and filter press is currently being implemented to further improve the metallurgical performance and unlock the full potential of the processing facility.

The Proven and Probable Mineral Reserves as of December 31, 2022 were 3.8 Mt at 82 g/t silver and 2.6 g/t gold for contained ounces of 10.1 Moz of silver and 320 koz of gold. Santa Elena’s Measured & Indicated Mineral Resources include 5.0 Mt at 97 g/t silver and 2.9 g/t gold for 15.6 Mozs of silver and 467 koz of gold. The Mineral Resource Estimates were based on NSR values of $65/t for cut and fill mining and $75/t for long hole stoping. A 65 g/t cut-off grade was used for heap leach resources. Resources are inclusive of reserves. Detailed information on the Santa Elena Mineral Reserves and Resources is available at

Recent Activity

    January 2023

    In 2022, full year production at Santa Elena was 31.3 Moz silver equivalent, consisting of 10.5 Moz silver and 248,394 oz gold. In 2023, Santa Elena production is expected to transition to the Ermitaño deposit while exploration continues at the Santa Elena mine.

    October 2022

    Advances continued with the Santa Elena dual‐circuit project which will increase the leaching performance and metallurgical recoveries of the Santa Elena and Ermitaño ores at the processing plant. An additional leaching tank and a fourth CCD thickener were commissioned at Santa Elena in the third quarter of 2022, which is expected to improve metallurgical recoveries going forward.

    July 2022

    Santa Elena achieved record production in the second quarter 2022, setting an all-time new quarterly high of 2.2 million silver-equivalent ounces. Higher production rates are planned for the second half of 2022, expected to result in a projected 28% increase for the year. The Liquefied Natural Gas powerplant expansion project is expected to be complete in the fourth quarter of 2022.

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