Ownership: 56% Fresnillo plc, 44% MAG Silver
Location: Zacatecas, 8km SW of Fresnillo
Avg. Annual Anticipated Production (Total): 10moz silver, 30koz gold
Indicated and inferred resources (attributable): 126.2 moz silver, 578.0 oz gold
Estimated Pre-operative Capex: US$305m (total)

Key Exploration:

  • Indicated and inferred silver-gold-lead-zinc resources are located principally on the Valdecañas vein and to a lesser extent on the Juanicipio vein
  • Five deep drill holes on the Valdecañas vein intersected attractive values and resources were increased
  • The ramp was extended to 2,180m, metallurgical studies were conducted and basic engineering studies concluded


  • Construction of ramp continued and further progress was made in the mine design and in obtaining environmental permits
  • Feasibility study expected to be presented for Board approval end of 2016 
  • Expected commission 2018, producing an annual average of 10 million ounces of silver and 30 thousand ounces of gold
  • Project to be developed on a stand-alone basis


  • Continue exploration drilling and ramp development
  • Conduct detailed engineering study