03.08.2004 – 20:34
First Majestic Resource Corp. - Silver production commences at La Parrilla Silver Mine
Vancouver, British Columbia (ots/PRNewswire)
TSX Venture Exchange - FR
Pink Sheets - FMJRF
VANCOUVER, British Columbia, August 3 /PRNewswire/ --
First Majestic Resource Corp. is pleased to announce that silver production has begun and the first silver concentrates have been shipped to the Penoles smelter in Torreon, Mexico.
Since the closing of the acquisition of the La Parrilla Silver Mine located outside of Durango, Mexico, First Majestic has been operating the mill on an on-and-off basis, testing, repairing and modernizing equipment.
Specific activities at the mine included; the primary and secondary crushers were overhauled; conveyors and electric systems were repaired or replaced; in the grinding circuit one of the ball mills was relined and a new rolling bearing cover was installed; in the crushing area two of the coarse bins were remanufactured; the flotation circuit was improved; and, in the cyanidation circuit the motors on the leaching tanks were changed in order to improve recovery's. A number of other improvements were also completed over the past weeks.
Management is very pleased with the quality of staff working at the mine and the speed in which the operations personnel were able to produce and sell the first silver concentrates.
During the month of August the mill will be operating on a full time basis producing silver concentrates for further shipments to Penoles smelter. First Majestic intends to announce its first full month of production in ounces of silver at the end of August.
FIRST MAJESTIC RESOURCE CORP.
Keith Neumeyer President
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Resource Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction
ots Originaltext: First Majestic Resource Corp.
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