Andean Silver (ASX:ASL; OTCQX:ADSLF) announced that it has discovered a series of stacked veins that are over 1km long at the Cerro Bayo epithermal silver-gold project. This new discovery comes as Andean continues to target resource growth close to their existing infrastructure. The area is part of an untested extension west of the Taitao open pit.
The high-grade assays from the new vein discoveries include:
Significant sawn channel samples, such as
• 1.3m @ 2,661g/t silver equivalent (422g/t Ag & 27g/t Au) or 32.1g/t AuEq
• 0.7m @ 6,167g/t silver equivalent (4,453g/t Ag & 20.7g/t Au) or 74.3g/t AuEq
• 0.7m @ 2,082g/t AgEq (1,467g/t Ag & 7.4g/t Au) or 25.1g/t AuEq
Significant rock chip results, such as
• 8,965g/t silver equivalent (7,344g/t Ag & 19.5g/t Au) or 108g/t AuEq
• 8,452g/t silver equivalent (1,359g/t Ag & 85.5g/t Au) or 101.8g/t AuEq
• 7,264g/t silver equivalent (5,799g/t Ag & 17.7g/t Au) or 87.5g/t AuEq
These new discoveries are in close proximity to historic mines with significant resources and the interpretation of the new discoveries indicate the strong potential for further discoveries in the area.
Tim Laneyrie, Chief Executive Officer of Andean Silver commented, “The discovery of these stacked veins shows yet again how much low-hanging fruit we have at Cerro Bayo. “We already had a huge number of opportunities for resource growth through new targets and extensions of existing veins. And now we have this extremely prospective area 1km from the plant. “We have three rigs turning, one of which will now be moved to test these new veins. But given our strong cash position and the number of opportunities we have, we may expand the fleet. “The plant is on warm idle and awaiting a restart. We have recently commenced internal studies, including mine planning and infrastructure reviews, which we intend to complete later this year”.
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