Andean Silver

Drilling Continues to Expand Known Mineralisation Ahead of Resource Update

Strong assay results reveal more high-grade shoots; Resource update on track for next month

Andean Silver Limited (ASX: ASL) is pleased to announce more spectacular drilling results which continue to grow the known mineralisation in three key areas at its Cerro Bayo Silver-Gold Project in Chile.
  • Latest drilling has identified new areas of mineralisation at the Coyita North, Pegaso 7 and Cristal discoveries within Cerro Bayo
  • Outstanding results from all three areas, with grades up to 1,457g/t Silver Equivalent
  • Imminent resource update planned for late this quarter will include, for the first time, a host of exceptional results from Andean’s past year of drilling at Cerro Bayo for the first time
  • Three rigs now drilling to grow the resource at Cerro Bayo amid an increasingly favourable supply-demand outlook for silver

Latest assays:

  • Coyita North drilling intercepted the main structure up to 100m below historic drilling; Significant intercept of:
    • 1.5m @ 513g/t AgEq (360g/t Ag & 1.8g/t Au) (6.2g/t AuEq) CBD171
  • Pegaso 7 resource potential continues to expand with multiple high-grade shoots defined within the main structure; Significant intercepts include:
    • 1.9m @ 596g/t AgEq (329g/t Ag & 3.2g/t Au) (7.2g/t AuEq) CBD169;
    • 3.0m @ 456g/t AgEq (56g/t Ag & 4.8g/t Au) (5.5g/t AuEq) CBD176;
    • 1.7m @ 322g/t AgEq (19g/t Ag & 3.7g/t Au (3.9g/t AuEq) CBD176 ; and
    • 0.5m @ 1,306g/t AgEq (1,078g/t Ag & 2.8g/t Au) (15.7g/t AuEq) CBD169
  • At Cristal, drilling and structural mapping has defined an extensive central main shoot over 500m strike enveloped by multiple subsidiary veins; Significant intercepts include:
    • 1.4m @ 1,457g/t AgEq (632g/t Ag & 9.9g/t Au) (17.6g/t AuEq) CBD170;
    • 3.1m @ 206g/t AgEq (138g/t Ag & 0.8g/t Au) (2.5g/t AuEq) CBD175;
    • 1.0m @ 794g/t AgEq (174g/t Ag & 7.5g/t Au) (9.6g/t AuEq) CBD170; and
    • 38m @ 93g/t AgEq (50g/t Ag & 0.5g/t Au) (1.1g/t AuEq) CBD170, including:
      • 1.2m @ 3.5g/t AgEq (176g/t Ag & 1.4g/t Au) (3.5g/t AuEq);
      • 1.1m @ 433g/t AgEq (238g/t Ag & 2.3g/t Au) (5.2g/t AuEq); and
      • 1.6m @ 263g/t AgEq (182g/t Ag & 1g/t Au) (3.2g/t AuEq)
  • Similarities between the broad stockwork zones at Cristal and the historic Taitao open pit show potential for future base load mill sources
Andean Chief Executive Tim Laneyrie said: “Every round of drilling continues to grow the mineralised footprint at Cerro Bayo and there is still so much highly prospective ground we are yet to drill.

“We have generated a wealth of outstanding assays since we started drilling a year ago and these will underpin next month’s resource update.

“To be able to advance from discovery to definition drilling and into a planned maiden resource for both Cristal and Pegaso 7 in such a short period highlights the compelling exploration potential we have at Cerro Bayo.

“Given the amount of drilling we are doing, the open nature of the known mineralisation and the prospective ground we have identified through sampling and mapping, we are very confident about the next 6-12 months at Cerro Bayo”.

Drilling and Exploration Update

The drilling campaign continues to progress at the Laguna Verde Project area with three rigs aimed at expanding and infilling the existing resources at Coyita North (Figure 1) and continuing to define deeper mineralised shoots within the Pegaso 7 discovery.

Figure 1. Coyita North drill platform testing the northern shoot.

Geophysics campaign

As announced on 13 February 2025, the geophysics campaign is currently ~30% complete and has defined extensive new enhanced resistivity corridors within the broader Pampa La Perra and Cerro Bayo trends. The campaign has progressed to the Sinter Hill/Cascada areas (Figure 2) with the aim of defining the mapped veins of Meseta (Figure 3) and Mallines at depth and further along strike as well as the undercover zones below the Sinter Hill.


Click here for the full ASX Release

This article includes content from Andean Silver, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Hand holding a silver bar near a paper sheet with price charts and numbers; other silver bullion bars nearby.

What are Silver Futures?

Investing in silver futures is one of many options for those interested in entering the silver market.

The highest price for silver to date was reached half a century ago, when the precious metal hit US$48.70 per ounce. With the silver price hitting US$44 per ounce following the US Federal Reserve's September 2025 rate cut, investors are wondering if the white metal will it break past its record. Some silver bulls believe that could happen in the near future, with a few market insiders even calling for a triple-digit silver price.

Trading silver futures is not the same as owning physical bullion, but it’s a popular strategy for advanced investors with a higher risk tolerance. Read on to learn more about how silver futures work and what role they can play in a portfolio.

Keep reading...Show less
Chris Marcus, silver bars.

Chris Marcus: Silver Price Breakout? What's Happening, What's Next

Chris Marcus, founder of Arcadia Economics, discusses silver's recent price activity and where the white metal could be headed next.

He also weighs in on supply and demand dynamics, as well as the question of price suppression.

Keep reading...Show less
GR Silver Mining

GR Silver Mining

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District.
Silver bars on pile of $100 bills and green chart going up.

Could the Silver Price Really Hit $100 per Ounce?

Will the First Majestic Silver (TSX:FR,NYSE:AG) CEO’s silver price prediction of over US$100 per ounce come true?

The silver spot price has surged over 50 percent in the first nine months of 2025, reaching a 14 year high above US$44 on September 22 after breaking through the US$40 per ounce mark in early September. Silver's price is rallying on growing economic uncertainty amid ongoing geopolitical tensions and US President Donald Trump’s escalating trade war, supported by long-term demand fundamentals.

Well-known figure Keith Neumeyer, CEO of First Majestic, has frequently said he believes the white metal could climb even further, hitting the US$100 mark or even reaching as high as US$130 per ounce.

Keep reading...Show less
Silver bars and US$100 bills with a rising chart overlay.

Silver Price Surges Above US$44 Following Fed Rate Decision

The silver price surged on Monday (September 22), breaking US$44 per ounce to rise as high as US$44.11.

Silver was last above US$44 in 2011, and many of the same factors that drove it to that level are present in today’s market, including significant uncertainty around the economy, a global debt crisis and a dovish US Federal Reserve.

Keep reading...Show less
Silver bars in front of newspaper showing high price performance.

What Was the Highest Price for Silver?

Like its sister metal gold, silver has been attracting renewed attention as a safe-haven asset.

Although it continues to exhibit its hallmark volatility, many silver investors believe that a bull market is starting up for the precious metal. Experts are optimistic about the future, and as the silver price's momentum continues above US$40 in 2025, investors are looking for price forecasts and asking, “What was the highest price for silver?”

The answer reveals how much potential there is for the silver price to rise. Read on for a look at silver's historical moves, and what they could mean for both the price of silver today and the white metal’s price in the future.

Keep reading...Show less

Latest Press Releases

Related News