We believe that consistent exploration investment is essential in maintaining a healthy project pipeline: core to our growth strategy and a key element in extending mine life.
We focus on the discovery and potential acquisition of large, low cost silver and gold ore bodies in Latin America, in regions with the greatest geological potential and mining tradition such as Mexico and Peru. Prospects must have a minimum potential of 100 million ounces of silver or 2 million ounces of gold equivalent, and meet strict criteria on ore grades, metallurgical recoveries, extraction costs and environmental impact, in order to proceed.
Our comprehensive approach results in a pipeline of projects that extend across the multiple stages of exploration (detection, discovery and definition) and ensure long-term organic growth.
The Group has four Exploration Offices in Mexico: Zacatecas, Toluca, Chihuahua and Hermosillo, and one in both Chile and Peru.
- Minera Penmont (100% Fresnillo plc)
- Sonora, below Centauro main pit at Herradura
- Minera Fresnillo, S.A. de C.V. (100% Fresnillo plc)
- Anticipated production:
- Avg. annual production of 136 koz gold
- Indicated and inferred resources:
- 9.6 moz gold, 12.3 moz silver
- Estimated Pre-operative Capex:
- JV: 56% Fresnillo plc, 44% MAG Silver
- Zacatecas, Fresnillo District
- Underground mine and flotation plant
- Commercial Production:
- 2H20 (flotation plant: mid-2021)
- Avg. Annual Anticipated Production:
- 11.7 moz silver, 43.5 koz gold
- Total Budgeted Capex:
- US$440m (Fresnillo: US$246.4 million)
- Mining Operations
- Development Projects
- Advanced exploration