Andean Silver's Indicated Resource Increases by 230%
Key points
- Indicated Resource at Cerro Bayo increases by 230% to 60Moz AgEq
- Total Mineral Resource Estimate expands to 136Moz AgEq
- Upcoming drilling program targets further resource growth and feasibility studies
Full summary
Andean Silver Limited has reported a significant 230% increase in the Indicated Resource at its Cerro Bayo silver-gold project in Chile, bringing the total Indicated and Inferred Mineral Resource Estimate to 136 million ounces of silver equivalent (Moz AgEq). The increase, which represents an 86% increase in total tonnes and a 23% increase in total AgEq ounces, is attributed to successful drilling and exploration efforts over the past year. The updated Mineral Resource Estimate includes an underground Resource of 7.9 million tonnes (Mt) at 362 grams per tonne (g/t) silver equivalent (AgEq) for 92Moz AgEq and an open pit Resource of 12.1Mt at 112g/t AgEq for 44Moz AgEq. The company plans to commence a 60,000-meter drilling program in Q3 2026 to further target areas within the economic mine plan and convert resources to Measured & Indicated categories. Andean Silver remains well-funded with approximately A$53.4 million in cash to advance the Cerro Bayo Project.
Outlook
The company plans to continue targeting resource growth and feasibility studies through ongoing drilling and exploration efforts.
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