First Majestic to Invest US$12 Million in Santa Elena Expansion, Reports Positive Drill Results
First Majestic Silver (AG.TO, AG) said Friday it plans to invest an additional US$12 million in 2026 to advance the Santo Nino and Navidad targets at its Santa Elena silver-gold mine in Mexico after receiving permits to begin portal construction, while reporting positive infill drilling results from both targets.To date, 26,904 meters of drilling has been completed across 69 holes in 2026 at Santo Nino as part of the company's ongoing resource-conversion and development-focused drilling program. While a total of 7,704 meters of drilling has been completed across 10 holes at Navidad in 2026.The company said it has received the permits required for construction of the Santo Nino and Navidad portals and plans to commence portal construction and related infrastructure work in the second half of 2026.First Majestic shares closed up C$0.60, or 2.6%, to C$23.42 on the Toronto Stock Exchange.
