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Highlights
- Andean Silver (ASL) reports strong drill results from Cerro Bayo project.
- Expansion plans include a third drill rig and new exploration tenements.
- Early acquisition payment highlights confidence in Cerro Bayo’s growth.
Andean Silver (ASX:ASL) continues to strengthen its Cerro Bayo silver-gold project in Chile, driven by significant new drill results and aggressive exploration strategies. The latest results showcase the project’s potential, with the company expanding its drilling campaigns and acquiring additional exploration tenements to further resource growth.
The recent drilling program delivered impressive results at the Cristal and Pegaso 7 discoveries. Notable results include 13.1 metres at 332 grams per tonne silver equivalent (AgEq) from Pegaso 7 and 42.2 metres at 122g/t AgEq at Cristal. These deep, high-grade intercepts indicate promising mineralisation outside the areas covered in previous resource estimates. The results are expected to significantly contribute to an updated Mineral Resource Estimate (MRE) planned for release in the coming months.
Drilling at Cristal has already defined a mineralised area measuring 180 metres in length and 100 metres in depth. The ongoing program aims to extend this corridor further beyond its currently known 700 metres. According to the company, the initial results provide valuable insights into the broader mineralising systems, helping design the next phase of drilling.
To accelerate its growth strategy, Andean Silver has deployed a third drill rig to the site. This allows for simultaneous drilling at multiple key areas, including Coyita North, where resource extension drilling is underway. The objective is to test the depth and connectivity of the Coyita North and South lodes, strengthening the resource potential.
Andean Silver has also applied for new exploration tenements adjacent to the existing Cerro Bayo leases. These areas share similar geological characteristics with the current tenure and contain structural extensions of mineralised zones. The company plans to undertake scout mapping, geochemical sampling, and hyperspectral surveys to assess their potential further.
In a show of confidence in Cerro Bayo’s growth, Andean Silver completed its final deferred acquisition payment ahead of schedule. Following a $25 million capital raising, the early payment of $750,000 to Equus Mining (ASX:EQE) resulted in a $250,000 saving for the company.
Andean Silver’s focus remains on an aggressive exploration approach, combining field geology with advanced geophysical techniques. With increased drilling activities, tenement expansions, and strong resource updates on the horizon, the company continues to position Cerro Bayo as a key project in its portfolio.
