Latest news with #FirstAndes
Globe and Mail
02-07-2025
- Business
- Globe and Mail
First Andes Silver Clarifies News Release
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced, at the request of the Canadian Investment Regulatory Organization ("CIRO"), clarification to its news release dated July 2, 2025 (the "Original News Release") announcing field logging and interpretation results from the first diamond drill hole completed to target depth, SG017, as part of its ongoing 2,000-meter ("m") drill program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" or the "Project"), located approximately 55 kilometres east of Lima, Peru. This news release restates the disclosure contained in the Original News Release but removes any visual percentage estimates from core logging of mineralization contained therein. Key Point Summary Drill hole SG017 at the San Jorge Vein ("San Jorge") intercepted a broad zone of sulphide-mineralized hydrothermal breccia from 136.60 to 194.20 m (57.60 m drilled width), characterized by strong silicification, argillic alteration and local sericitic alteration. Sulphide mineralization is present throughout the interval, with pyrite accompanied by local galena, sphalerite, barite and tetrahedrite. Sulphidic mineralization intensifies from 162.00 m, with occurrences of galena and sphalerite, along with barite and tetrahedrite crystals associated with quartz veins. The most intense brecciation occurs from 147.00 to 179.80 m, where the breccia features a strongly argillic altered matrix, silicified clasts, and mineralized veins with pyrite, galena, and sphalerite. A semi-massive interval of galena mineralization up to approximately 15 centimeters ("cm") in width was intercepted at 179.90 m which included pyrite and barite, as well as locally euhedral sphalerite crystals. Field observations and logging from SG017 confirm the presence of a robust, polymetallic-mineralized intermediate sulphidation hydrothermal system at depth, which remains open in all directions. The program's first hole, SG016, did not reach target depth after intercepting a void at 77.00 m, with alteration and mineralization commencing at 74.70 m, suggesting the onset of the epithermal zone - four samples totalling 2.60 m were submitted for assay. The void was likely the result of small scale artisanal miners stoping a near-surface mineralized vein. A total of 50 HQ-diameter core samples (half-core) totalling 43.00 m were collected and submitted from drill hole SG017 to Alfred H. Knight Group ("AHK Group") laboratory in Lima, Peru for assay, with initial results expected in 3 to 4 weeks. "The intersection of a broad, sulphide-rich hydrothermal breccia in SG017 marks a significant breakthrough in the geological model at Santas Gloria," stated Colin Smith, CEO and Director of First Andes Silver."The intensity of hydrothermal alteration, the presence of semi-massive galena and sphalerite, and the occurrence of pervasive polymetallic sulphide mineralization all suggest that vectoring into the core of a well-preserved, fertile sulphide system. With a vertical intercept depth of 125 and 170 meters, this drill test represents the deepest recorded intersection of epithermal mineralization in the Project's history. These results further underscore the scale and continuity of the San Jorge system, and we look forward to receiving assay results to evaluate the grade profile of this promising, open-ended mineralized zone." Drill Hole SG017 Drill hole SG017, completed at the San Jorge Vein target within the Santas Gloria Project, intersected a substantial zone of sulphide-bearing hydrothermal breccia between 136.60 and 194.20 m downhole. This mineralized interval is characterized by intense hydrothermal alteration, including pervasive silicification and argillic overprinting, with localized zones of sericitic alteration, indicative of a high-temperature fluid regime and fully-intact intermediate sulphidation epithermal system. Sulphide mineralization is present throughout the breccia, with pyrite as the dominant phase. Accompanying the pyrite are variable but notable occurrences of galena, sphalerite, barite, and tetrahedrite. From approximately 162.00 metres, the intensity of sulphidic mineral increases, with galena and sphalerite alongside barite and tetrahedrite crystals commonly observed within quartz veinlets. The most texturally intense brecciation spans a core interval from 147.00 to 179.80 m, marked by a strongly argillic matrix, angular clasts exhibiting silica replacement, and a network of mineralized veinlets hosting pyrite, galena, and sphalerite. At 179.90 m, the hole intercepted a semi-massive interval with galena up to 15 centimetres wide, featuring pyrite and barite, along with locally euhedral crystals of sphalerite - a visually impressive and geologically significant zone. Geological logging and field interpretation confirm that SG017 has intersected a robust, multiphase polymetallic hydrothermal system at depth which remains open in all directions, highlighting a strong potential for further expansion in subsequent drilling. Figure 1: Plan map of ongoing 2025 drill program at San Jorge. To view an enhanced version of this graphic, please visit: Figure 2: Cross section of SG017. To view an enhanced version of this graphic, please visit: Table 1: SG017 zone description and core photographs (136.60 to 194.20 m). Depth (m) Core Photo Description Box # 51 From 136.60 To 139.20 To view an enhanced version of this graphic, please visit: -137.40 m: sericitic alteration in the rock, with pyrite ("Py") Box # 52 From 139.10 To 141.60 To view an enhanced version of this graphic, please visit: -139.70 m: Py identified with an increase silicification -149.70 m: oxidization and silicification increases Box # 53 From 141.60 To 144..30 To view an enhanced version of this graphic, please visit: -142.90 m: increase of Py mineralization Box # 54 From 144.30 To 147.00 To view an enhanced version of this graphic, please visit: -146.20 m: oxidization increases again, Py mineralization remains Box # 55 From 147.00 To 149.70 To view an enhanced version of this graphic, please visit: -147.60 m: brecciation with argillic and silicic alteration -148.70 m: brecciation ends with Py mineralization Box # 56 From 149.70 To 152.45 To view an enhanced version of this graphic, please visit: -150.35 m: fractures with sericite and sphalerite ("Sph") Box # 57 From 152.45 To 155.20 To view an enhanced version of this graphic, please visit: -153.60 m: oxidized breccia, 50° core axis with argilized matrix and silicified clasts (Py in the clasts) -154.70 m: vein filed with sulphides, Py and quartz ("Qtz") Box # 58 From 155.20 To 158.00 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 59 From 158.00 To 160.80 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 60 From 160.80 To 163.40 To view an enhanced version of this graphic, please visit: -162.15 m: The breccia ends, dacite light gray, silicificated, still with Py -162.50 m: Py continues to be present -163.25 m: oxidized zone, medium argillic alteration Box # 61 From 163.40 To 166.30 To view an enhanced version of this graphic, please visit: -163.68 m: silicified rock and gray color again, Py continues to be present -166.00 m: breccia texture with Qtz veins Box # 62 From 166.30 To 169.10 To view an enhanced version of this graphic, please visit: -167.10 m: Py, galena ("Gal"), Sph -168.05 m: Py, Sph with argillic alteration Box # 63 From 169.10 To 171.75 To view an enhanced version of this graphic, please visit: Breccia starts with Qtz vein. Py, Sph with argillic alteration Box # 64 From 171.75 To 174.45 To view an enhanced version of this graphic, please visit: -173.80 m: Gal disseminated in the Qtz vein, barite and tetrahedrite crystals present Box # 65 From 174.45 To 176.95 To view an enhanced version of this graphic, please visit: -175.10 m: argillic alteration with Py, Gal and Sph -176.86 m: vein filled with sulphides, Py, Gal, Sph Box # 66 From 176.95 To 179.50 To view an enhanced version of this graphic, please visit: -178.50 m: Py in the matrix, Sph -179.20 m: Qtz vein forming cavities with Py, Gal and barite Box # 67 From 179.50 To 182.20 To view an enhanced version of this graphic, please visit: -179.90 m: vein with Gal, Sph crystal, Py and barite. 2-3 cm of thickness and 15 cm of length -180.20 m: The breccia ends at 30° core axes. Start footwall rock with Py Box # 72 From 192.60 To 194.20 To view an enhanced version of this graphic, please visit: -193.60 m: Qtz vein with sulphides and Py and gal traces, entering footwall sequence Some core intervals were strongly oxidized and represents a supergene effect, whereby surficial groundwaters percolate down structures, resulting in oxidation of sulphides. Intermediate sulphidation epithermal deposits are mined throughout central Peru, and have demonstrated vertical extents in excess of 600 metres. Deeper drilling at Santas Glorias should encounter sulphide only mineralization. Quality Assurance / Quality Control ("QA/QC") The Company follows industry-recognized standards of Best Practice and QA/QC. HQ-diameter core samples are sawed into equal halves, and selected ½ core samples are submitted to AHK Group in in Lima, Peru, a market-leading provider of inspection and analysis services which maintains rigorous quality standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO 9001. Core samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%. Qualified Person Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson is not independent and serves as Chief Geologist of First Andes Silver Ltd. and owns securities of the Company. About First Andes Silver Ltd. First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025. Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
02-07-2025
- Business
- Yahoo
First Andes Silver Clarifies News Release
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced, at the request of the Canadian Investment Regulatory Organization ("CIRO"), clarification to its news release dated July 2, 2025 (the "Original News Release") announcing field logging and interpretation results from the first diamond drill hole completed to target depth, SG017, as part of its ongoing 2,000-meter ("m") drill program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" or the "Project"), located approximately 55 kilometres east of Lima, Peru. This news release restates the disclosure contained in the Original News Release but removes any visual percentage estimates from core logging of mineralization contained therein. Key Point Summary Drill hole SG017 at the San Jorge Vein ("San Jorge") intercepted a broad zone of sulphide-mineralized hydrothermal breccia from 136.60 to 194.20 m (57.60 m drilled width), characterized by strong silicification, argillic alteration and local sericitic alteration. Sulphide mineralization is present throughout the interval, with pyrite accompanied by local galena, sphalerite, barite and tetrahedrite. Sulphidic mineralization intensifies from 162.00 m, with occurrences of galena and sphalerite, along with barite and tetrahedrite crystals associated with quartz veins. The most intense brecciation occurs from 147.00 to 179.80 m, where the breccia features a strongly argillic altered matrix, silicified clasts, and mineralized veins with pyrite, galena, and sphalerite. A semi-massive interval of galena mineralization up to approximately 15 centimeters ("cm") in width was intercepted at 179.90 m which included pyrite and barite, as well as locally euhedral sphalerite crystals. Field observations and logging from SG017 confirm the presence of a robust, polymetallic-mineralized intermediate sulphidation hydrothermal system at depth, which remains open in all directions. The program's first hole, SG016, did not reach target depth after intercepting a void at 77.00 m, with alteration and mineralization commencing at 74.70 m, suggesting the onset of the epithermal zone - four samples totalling 2.60 m were submitted for assay. The void was likely the result of small scale artisanal miners stoping a near-surface mineralized vein. A total of 50 HQ-diameter core samples (half-core) totalling 43.00 m were collected and submitted from drill hole SG017 to Alfred H. Knight Group ("AHK Group") laboratory in Lima, Peru for assay, with initial results expected in 3 to 4 weeks. "The intersection of a broad, sulphide-rich hydrothermal breccia in SG017 marks a significant breakthrough in the geological model at Santas Gloria," stated Colin Smith, CEO and Director of First Andes Silver. "The intensity of hydrothermal alteration, the presence of semi-massive galena and sphalerite, and the occurrence of pervasive polymetallic sulphide mineralization all suggest that vectoring into the core of a well-preserved, fertile sulphide system. With a vertical intercept depth of 125 and 170 meters, this drill test represents the deepest recorded intersection of epithermal mineralization in the Project's history. These results further underscore the scale and continuity of the San Jorge system, and we look forward to receiving assay results to evaluate the grade profile of this promising, open-ended mineralized zone." Drill Hole SG017 Drill hole SG017, completed at the San Jorge Vein target within the Santas Gloria Project, intersected a substantial zone of sulphide-bearing hydrothermal breccia between 136.60 and 194.20 m downhole. This mineralized interval is characterized by intense hydrothermal alteration, including pervasive silicification and argillic overprinting, with localized zones of sericitic alteration, indicative of a high-temperature fluid regime and fully-intact intermediate sulphidation epithermal system. Sulphide mineralization is present throughout the breccia, with pyrite as the dominant phase. Accompanying the pyrite are variable but notable occurrences of galena, sphalerite, barite, and tetrahedrite. From approximately 162.00 metres, the intensity of sulphidic mineral increases, with galena and sphalerite alongside barite and tetrahedrite crystals commonly observed within quartz veinlets. The most texturally intense brecciation spans a core interval from 147.00 to 179.80 m, marked by a strongly argillic matrix, angular clasts exhibiting silica replacement, and a network of mineralized veinlets hosting pyrite, galena, and sphalerite. At 179.90 m, the hole intercepted a semi-massive interval with galena up to 15 centimetres wide, featuring pyrite and barite, along with locally euhedral crystals of sphalerite - a visually impressive and geologically significant zone. Geological logging and field interpretation confirm that SG017 has intersected a robust, multiphase polymetallic hydrothermal system at depth which remains open in all directions, highlighting a strong potential for further expansion in subsequent drilling. Figure 1: Plan map of ongoing 2025 drill program at San Jorge. To view an enhanced version of this graphic, please visit: Figure 2: Cross section of SG017. To view an enhanced version of this graphic, please visit: Table 1: SG017 zone description and core photographs (136.60 to 194.20 m). Depth (m) Core Photo Description Box # 51From 136.60 To 139.20 To view an enhanced version of this graphic, please visit: -137.40 m: sericitic alteration in the rock, with pyrite ("Py") Box # 52From 139.10To 141.60 To view an enhanced version of this graphic, please visit: -139.70 m: Py identified with an increase silicification-149.70 m: oxidization and silicification increases Box # 53From 141.60To 144..30 To view an enhanced version of this graphic, please visit: -142.90 m: increase of Py mineralization Box # 54From 144.30To 147.00 To view an enhanced version of this graphic, please visit: -146.20 m: oxidization increases again, Py mineralization remains Box # 55From 147.00To 149.70 To view an enhanced version of this graphic, please visit: -147.60 m: brecciation with argillic and silicic alteration-148.70 m: brecciation ends with Py mineralization Box # 56From 149.70To 152.45 To view an enhanced version of this graphic, please visit: -150.35 m: fractures with sericite and sphalerite ("Sph") Box # 57From 152.45To 155.20 To view an enhanced version of this graphic, please visit: -153.60 m: oxidized breccia, 50° core axis with argilized matrix and silicified clasts (Py in the clasts)-154.70 m: vein filed with sulphides, Py and quartz ("Qtz") Box # 58From 155.20 To 158.00 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 59From 158.00 To 160.80 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 60From 160.80 To 163.40 To view an enhanced version of this graphic, please visit: -162.15 m: The breccia ends, dacite light gray, silicificated, still with Py-162.50 m: Py continues to be present-163.25 m: oxidized zone, medium argillic alteration Box # 61From 163.40 To 166.30 To view an enhanced version of this graphic, please visit: -163.68 m: silicified rock and gray color again, Py continues to be present -166.00 m: breccia texture with Qtz veins Box # 62From 166.30 To 169.10 To view an enhanced version of this graphic, please visit: -167.10 m: Py, galena ("Gal"), Sph -168.05 m: Py, Sph with argillic alteration Box # 63From 169.10To 171.75 To view an enhanced version of this graphic, please visit: Breccia starts with Qtz vein. Py, Sph with argillic alteration Box # 64From 171.75To 174.45 To view an enhanced version of this graphic, please visit: -173.80 m: Gal disseminated in the Qtz vein, barite and tetrahedrite crystals present Box # 65From 174.45To 176.95 To view an enhanced version of this graphic, please visit: -175.10 m: argillic alteration with Py, Gal and Sph-176.86 m: vein filled with sulphides, Py, Gal, Sph Box # 66From 176.95To 179.50 To view an enhanced version of this graphic, please visit: -178.50 m: Py in the matrix, Sph-179.20 m: Qtz vein forming cavities with Py, Gal and barite Box # 67From 179.50To 182.20 To view an enhanced version of this graphic, please visit: -179.90 m: vein with Gal, Sph crystal, Py and barite. 2-3 cm of thickness and 15 cm of length-180.20 m: The breccia ends at 30° core axes. Start footwall rock with Py Box # 72From 192.60To 194.20 To view an enhanced version of this graphic, please visit: -193.60 m: Qtz vein with sulphides and Py and gal traces, entering footwall sequence Some core intervals were strongly oxidized and represents a supergene effect, whereby surficial groundwaters percolate down structures, resulting in oxidation of sulphides. Intermediate sulphidation epithermal deposits are mined throughout central Peru, and have demonstrated vertical extents in excess of 600 metres. Deeper drilling at Santas Glorias should encounter sulphide only mineralization. Quality Assurance / Quality Control ("QA/QC") The Company follows industry-recognized standards of Best Practice and QA/QC. HQ-diameter core samples are sawed into equal halves, and selected ½ core samples are submitted to AHK Group in in Lima, Peru, a market-leading provider of inspection and analysis services which maintains rigorous quality standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO 9001. Core samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%. Qualified Person Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson is not independent and serves as Chief Geologist of First Andes Silver Ltd. and owns securities of the Company. About First Andes Silver Ltd. First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025. For more information please contact:Colin Smith, CEO & DirectorPhone: 604 806-0626 (ext. 108)E-mail: info@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
09-06-2025
- Business
- Yahoo
First Andes Silver Mobilizes Rig for Second Drill Program at Santas Gloria Project, Targeting Extension of High-Grade Silver Discovery at Depth
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced that mobilization has commenced for the upcoming fully permitted 2000-meter ("m") diamond drilling program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" and the "Project") located 100 kilometers ("km") east of Lima, Peru. Key Point Summary Drill rig mobilization is ahead of schedule, with an expected start to the program in two weeks; Targeting the San Jorge Vein's ("San Jorge") higher-grade sulphide zone at depth, down-dip from the near-surface drilling discovery returned in 2024; Program is designed to assess the resource potential of San Jorge, and with success, preparations for an aggressive step-out campaign will commence; Fully permitted for drilling with excellent access (2.5-hour drive east of Lima), forgiving terrain and relatively low altitude (2,700-3,600 m), facilitating fast, cost-effective drilling; District-scale upside and grade, with >12 km of untested veins across a regional intermediate sulphidation epithermal system that was only first drilled in 2024; Prolific grades at surface, including channel samples up to 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein; Bench-scale flotation test work in 2022 on samples from underground sulphide zones at San Jorge demonstrated excellent precious metals recoveries of 88.1% for silver 80.9% for gold; Grades at Santas Gloria compare favorably to those at many of the world's leading silver producers; Silver prices are surging amid tight supply and booming industrial demand making high-grade projects like Santas Gloria are in high demand; Peru is the world's #3 silver producer with a stable legal framework, clear permitting process and strong government support; First Andes has a long-standing in-country presence, and benefits from supportive local communities. Colin Smith, CEO and Director of the Company stated: "With the abundance and scale of outcropping, high-grade epithermal veins (>12 km) and exceptional grades (16,699 g/t Ag at the Tembladera Vein, 56 g/t Au at the Kelly Vein) from surface and underground sampling, it is remarkable that Santas Gloria was only first drilled in 2024, showcasing the considerable untapped discovery potential. The upcoming program marks major milestone for First Andes and offers shareholders the opportunity to leverage the high-grade 2024 drilling discovery at the San Jorge Vein by targeting higher-grade sulphide zones at depth. Santas Gloria offers a rare combination of scale, grade, and discovery upside in one of the world's most mining-friendly and productive silver jurisdictions." 2025 Drill Program The upcoming program will build on the success of Santas Gloria's maiden 2024 drill campaign, which returned multiple high-grade silver intercepts across several mineralized vein systems. In particular, 2024 diamond drill hole SG003, within the sulphide zone, intersected 7.43 m of 224 g/t AgEq (193 g/t Ag, 0.34% Pb, 0.3% Zn, 0.05 g/t Au) from 86.7 m including 0.95 m at 754 g/t AgEq (701 g/t Ag, 1.07% Pb, 0.62% Zn, 0.08 g/t Au) from 88.65 m (see news release dated October 29, 2024). The 2025 drill program will test strike and depth extensions of the drill-confirmed high-grade San Jorge vein, with mineralization remaining open in all directions. For more information on the upcoming 2025 drill program, see news release dated May 23, 2025. Significant Untapped Exploration Potential Despite hosting over 12 km of mapped, multiphase intermediate-sulphidation vein systems, Santas Gloria had never been drill-tested prior to First Andes in 2024. The district-scale epithermal system includes at least 15 known silver-gold-base metal veins, many of which remain untested. Surface and underground channel sampling has returned consistently high-grade silver assays, including 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein, highlighting the Project's exceptional potential. While Santas Gloria is best known for its silver-dominant (+ gold, + base metals) intermediate sulphidation veins, surface channel sampling conducted in 2021 at the Kelly Vein demonstrated the additional presence of a high-grade gold epithermal mineralization (Figure 1). This undrilled auriferous target has been mapped over a strike length of 1,175 m and hosts high-grade channel sample assays over a strike length of 750 m. In addition, the Kelly Vein is hosted within a regional structural flexure and prospective lithological contact - a geological environment renowned for loci of dilation, allowing for hydrothermal fluids to pond and precipitate high-grade gold due to enhanced permeability and pressure drops. The coincidence of this prospective regional feature with the high-grade surface anomalism substantiates the Kelly Vein as a priority drill target in future programs, with strong potential for significant subsurface gold mineralization. Figure 1: Plan map of the Kelly Vein, showing high-grade gold assays from 2021 channel sampling. To view an enhanced version of this graphic, please visit: Figure 2: High-grade and undrilled outcropping Kelly Vein. To view an enhanced version of this graphic, please visit: Quality Assurance / Quality Control ("QA/QC") The Company follows industry-recognized standards of Best Practice and QA/QC. Samples from 2024 were submitted to ALS Peru S.A. (ISO 9001:2008) in Lima, Peru in sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%. Qualified Person Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About First Andes Silver Ltd. First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025. For more information please contact:Colin Smith, CEO & DirectorPhone: (604) 806-0626E-mail: info@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
First Andes Silver Mobilizes Rig for Second Drill Program at Santas Gloria Project, Targeting Extension of High-Grade Silver Discovery at Depth
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced that mobilization has commenced for the upcoming fully permitted 2000-meter ("m") diamond drilling program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" and the "Project") located 100 kilometers ("km") east of Lima, Peru. Key Point Summary Drill rig mobilization is ahead of schedule, with an expected start to the program in two weeks; Targeting the San Jorge Vein's ("San Jorge") higher-grade sulphide zone at depth, down-dip from the near-surface drilling discovery returned in 2024; Program is designed to assess the resource potential of San Jorge, and with success, preparations for an aggressive step-out campaign will commence; Fully permitted for drilling with excellent access (2.5-hour drive east of Lima), forgiving terrain and relatively low altitude (2,700-3,600 m), facilitating fast, cost-effective drilling; District-scale upside and grade, with >12 km of untested veins across a regional intermediate sulphidation epithermal system that was only first drilled in 2024; Prolific grades at surface, including channel samples up to 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein; Bench-scale flotation test work in 2022 on samples from underground sulphide zones at San Jorge demonstrated excellent precious metals recoveries of 88.1% for silver 80.9% for gold; Grades at Santas Gloria compare favorably to those at many of the world's leading silver producers; Silver prices are surging amid tight supply and booming industrial demand making high-grade projects like Santas Gloria are in high demand; Peru is the world's #3 silver producer with a stable legal framework, clear permitting process and strong government support; First Andes has a long-standing in-country presence, and benefits from supportive local communities. Colin Smith, CEO and Director of the Company stated: "With the abundance and scale of outcropping, high-grade epithermal veins (>12 km) and exceptional grades (16,699 g/t Ag at the Tembladera Vein, 56 g/t Au at the Kelly Vein) from surface and underground sampling, it is remarkable that Santas Gloria was only first drilled in 2024, showcasing the considerable untapped discovery potential. The upcoming program marks major milestone for First Andes and offers shareholders the opportunity to leverage the high-grade 2024 drilling discovery at the San Jorge Vein by targeting higher-grade sulphide zones at depth. Santas Gloria offers a rare combination of scale, grade, and discovery upside in one of the world's most mining-friendly and productive silver jurisdictions." 2025 Drill Program The upcoming program will build on the success of Santas Gloria's maiden 2024 drill campaign, which returned multiple high-grade silver intercepts across several mineralized vein systems. In particular, 2024 diamond drill hole SG003, within the sulphide zone, intersected 7.43 m of 224 g/t AgEq (193 g/t Ag, 0.34% Pb, 0.3% Zn, 0.05 g/t Au) from 86.7 m including 0.95 m at 754 g/t AgEq (701 g/t Ag, 1.07% Pb, 0.62% Zn, 0.08 g/t Au) from 88.65 m (see news release dated October 29, 2024). The 2025 drill program will test strike and depth extensions of the drill-confirmed high-grade San Jorge vein, with mineralization remaining open in all directions. For more information on the upcoming 2025 drill program, see news release dated May 23, 2025. Significant Untapped Exploration Potential Despite hosting over 12 km of mapped, multiphase intermediate-sulphidation vein systems, Santas Gloria had never been drill-tested prior to First Andes in 2024. The district-scale epithermal system includes at least 15 known silver-gold-base metal veins, many of which remain untested. Surface and underground channel sampling has returned consistently high-grade silver assays, including 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein, highlighting the Project's exceptional potential. While Santas Gloria is best known for its silver-dominant (+ gold, + base metals) intermediate sulphidation veins, surface channel sampling conducted in 2021 at the Kelly Vein demonstrated the additional presence of a high-grade gold epithermal mineralization (Figure 1). This undrilled auriferous target has been mapped over a strike length of 1,175 m and hosts high-grade channel sample assays over a strike length of 750 m. In addition, the Kelly Vein is hosted within a regional structural flexure and prospective lithological contact - a geological environment renowned for loci of dilation, allowing for hydrothermal fluids to pond and precipitate high-grade gold due to enhanced permeability and pressure drops. The coincidence of this prospective regional feature with the high-grade surface anomalism substantiates the Kelly Vein as a priority drill target in future programs, with strong potential for significant subsurface gold mineralization. Figure 1: Plan map of the Kelly Vein, showing high-grade gold assays from 2021 channel sampling. To view an enhanced version of this graphic, please visit: Figure 2: High-grade and undrilled outcropping Kelly Vein. To view an enhanced version of this graphic, please visit: Quality Assurance / Quality Control ("QA/QC") The Company follows industry-recognized standards of Best Practice and QA/QC. Samples from 2024 were submitted to ALS Peru S.A. (ISO 9001:2008) in Lima, Peru in sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%. Qualified Person Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About First Andes Silver Ltd. First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025. For more information please contact:Colin Smith, CEO & DirectorPhone: (604) 806-0626E-mail: info@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio
