07:51 AM EDT, 07/11/2024 (MT Newswires) -- MAG Silver ( MAG ) said Thursday that it is temporarily pausing its exploration operations at the Deer Trail Project in central Utah due to the Silver King Fire in the state's Piute County.

"MAG will continue to carefully monitor the situation and comply with all local directives," the company said in a statement, adding that it doesn't expect the pause in operations to have a material impact on its business.

The fire, which was sparked on July 5 by a lightning strike, has burned more than 11,000 acres, according to media reports.

Shares of MAG Silver ( MAG ) were up nearly 2% in recent premarket activity.

Price: 13.50, Change: +0.25, Percent Change: +1.89