Andean Silver drills highest grades ever at Cerro Bayo project

• Results of 268 g/t gold and 3,045 g/t silver
• Infill drilling reveals strong continuity of mineralisation
• Results highlight gold rich zones within parts of the system
• Resource growth drilling will commence in the wider Cerro Bayo district this quarter

Andean Silver (ASX:ASL) has achieved strong infill drilling results as it looks to upgrade Inferred resources to the Measured and Indicated categories at its Cerro Bayo silver-gold project in Chile.

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MD, Matthew Allen, said the results continue to prove the high-grade nature of the Cerro Bayo project and demonstrate the strong continuity of the mineralisation.

“These latest results from infill drilling within the Inferred Resource areas highlight the strong continuity of the mineralisation at the Cerro Bayo Project and therefore the huge opportunity we have to drive value by upgrading these resources to Measured and Indicated,” he said.

“Given the quantum of the Inferred Resource, we will continue to unlock this opportunity with ongoing infill drilling. This will take place in parallel with the commencement of resource growth drilling in the Cerro Bay district with the first drilling there in over 20 years, targeting known mineralisation.

“We will also be advancing several key work streams as part of the feasibility study with the aim of demonstrating the strong cashflow potential of this project”.

The accelerated drilling program underway at the Laguna Verde Mine Complex within Cerro Bayo aims to grow the recent total resource of 20 million tonnes (Mt) at 211 g/t silver equivalent (AgEq) for 136 million ounces AgEq and upgrade further resources to the Measured and Indicated categories.

Mr Allen said Infill and resource growth drilling are key contributors to Andean’s core strategy of creating shareholder value through the drill bit by expanding and upgrading its mineral resource estimate (MRE) base and underpinning future economic studies to support the company’s future transition to producer.

Andean remains well funded to continue to achieve its goals with $53.4 million in cash at the end of March 2026.

“Our twin-pronged strategy of growing and upgrading the resource continues to create excellent results and will be incorporated into the upcoming feasibility and restart study,” Mr Allen said.

Future growth drilling will target mineralisation down plunge of the Trinidad shoot as well as targeting mineralisation currently not in the resource that extends 400m north of the main Trinidad mine area.

Beyond the immediate infrastructure, future potential resource growth is supported by historical results drilled over 15 years ago.

During the remainder of 2026 and into 2027, the Andean team aims to advance the project from a predominantly exploration focus to a combination of exploration and restart planning.

ASL was down 0.93% to $2.12. Mkt cap $455.1M.

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