First Majestic Gets Permits for Santo Niño and Navidad, Advances Santa Elena District

First Majestic Silver Corp. has received construction permits for the Santo Niño and Navidad portals at its Santa Elena Silver/Gold Mine in Sonora, Mexico, marking a key step toward near-term mining. The company also reported positive infill drilling results from both targets, including high-grade silver and gold intercepts that support resource conversion. An additional $12 million investment is planned for 2026 to advance underground access and position Santo Niño for production.

For precious metals traders, the advancement of First Majestic's Santa Elena district signals potential supply growth in the silver and gold markets. The high-grade intercepts from infill drilling suggest the resource base is being upgraded, which could enhance the project's economics. As a primary silver producer, First Majestic's progress is closely watched by investors tracking silver supply dynamics, especially given the metal's dual role as an industrial and monetary asset. Live gold and silver prices on NowPrice reflect how the market is reacting to these developments.

Looking ahead, the $12 million investment in 2026 will focus on underground development, with Santo Niño targeted for near-term mining. Investors will monitor further drilling results and permit milestones, as well as broader trends in precious metals prices. The Santa Elena district's progress could influence First Majestic's production profile and, by extension, the supply side of the silver market.