12:18 PM EDT, 06/13/2024 (MT Newswires) -- First Majestic Silver ( AG ) on Thursday highlighted positive drilling results from its 2024 exploration program at the San Dimas Silver/Gold Mine in Durango State, Mexico.

The drill program was designed to test new silver and gold mineral targets, add mineral resources, and convert mineral resources to mineral reserves.

Among the Perez Vein highlights (true width), the company said PE24_297 returned 7.36 grams per tonne (g/t) of gold and 1,129 g/t silver over 6.72 meters; PE24_309 returned 10.87 g/t of gold and 1,034 g/t of silver over 7.88 meters; and PE23_294 returned 1.99 g/t of gold and 440 g/t of silver over 6.08 meters.

From Sinaloa-Elia Vein System (true width), the company said SIN24_092 returned 39.28 g/t of gold and 1,905 g/t of silver over 1.76 meters; EL24_266 returned 20.41 g/t of gold and 1,702 g/t of silver over 2.15 meters; and EL24_265 returned 10.46 g/t of gold and 879 g/t of silver over 0.92 meters.

From Santa Regina Vein (true width), the company said SRE23_287 returned 13.24 g/t of gold and 1,501 g/t of silver over 0.94 meters; SRE23_282 returned 9.44 g/t of gold and 1,069 g/t of silver over 1.34 meters; and SRE23_293 returned 9.27 g/t of gold and 849 g/t of silver over 1.52 meters.

"The recent drilling has continued to highlight San Dimas' 71,867 hectare prospectivity through the intersection of significant gold and silver mineralization. Drilling to convert Inferred to Indicated Mineral Resources at Perez, Santa Regina and Elia has, in multiple cases, returned better than expected results," chief executive Keith Neumeyer said in a release.

The company's shares were last seen down $0.25 to $8.25 on the Toronto Stock Exchange.

Price: 8.26, Change: -0.24, Percent Change: -2.82