Operator: First Majestic
Location: Mexico
Term of Stream: Life of Mine
Stream Parameters: 25% of gold production plus an additional amount of gold equal to 25% of silver production converted to gold at a fixed gold to silver exchange ratio
Upfront Consideration:  US$220M
Cost Quartile: 1st
Stream: Gold
Primary Metal: Gold

Project Overview

The San Dimas deposit is located on the border of Durango and Sinaloa states and is considered to be one of the most significant precious metals deposits in Mexico. The mine is owned and operated by First Majestic Silver Corp. ("First Majestic"), who acquired Primero Mining Corp., the former owner on May 10, 2018. The district comprises of over 100 epithermal bonanza type mineralized gold-silver veins. The veins widths vary from less than one centimetre to over 15 metres, but average approximately 2 metres. Veins have been followed underground from a few metres in strike-length to more than 2 kilometres. The mine is a low-cost producer of gold and silver, is situated within a very large (15 square kilometre) mining district and has been in continuous production for well over 100 years. Historic production has been estimated to total 11 million ounces of gold and 582 million ounces of silver.

The mine consists of five ore zones or blocks: Central, Sinaloa Graben, Tayoltita, Arana Hangingwall and San Antonio West. San Dimas utilizes long-hole stoping and mechanized cut-and-fill mining methods with all ores processed at the Tayoltita mill. After milling, cyanidation, precipitation and smelting the doré bars are poured and transported to refineries in Mexico and the United States.

Over the substantial mine life to date, San Dimas has demonstrated a strong track-record of resource conversion and the mine continues to exhibit strong exploration potential. Since First Majestic acquired the mine, they have been developing a long-term mine and mill automation plan for the future of the operation.

More Information

Click here to view First Majestic’s San Dimas video.
Click here or visit to view the April 2014 San Dimas Technical Report.
For more information about the San Dimas mine, please visit First Majestic's website at
Cost quartile information is sourced from Wood Mackenzie by-product cost curves for gold, zinc/lead, copper, nickel, and silver mines.