Andean Silver identifies new high-grade veins and drilling targets at Cerro Bayo project in Chile

A mapping and geophysics program at Andean Silver’s (ASX: ASL) historical Cerro Bayo silver-gold project in Chile has identified highly prospective vein systems and drilling targets outside of the current mineral resource.

The broad controlled-source audio-frequency magnetotellurics program outlined substantial new extensions to known mineralised zones west of the rich Droughtmaster Corridor.

These include the Monserrat, Tamara, Sofia and Pasquerito veins, which extend the corridor by 1.2 kilometres to an area spanning 4km x 3km.

Best assays

Significant silver and gold equivalent rock chip assays from the vein discoveries include 30,202 grams per tonne silver equivalent (16,833g/t silver and 161.1g/t gold) or 364g/t gold equivalent and 13,299g/t silver equivalent (5,343g/t silver and 95.9g/t gold) or 160.2g/t gold equivalent.

The high-grade veins appear to be part of southerly outcropping extensions to the recently identified undercover geophysical anomalisms at the Pampa La Perra flats area.

The company confirmed the new discoveries had not been previously mapped, sampled or drill-tested during Cerro Bayo’s 35-year exploration history.

Resource growth

Managing director Tim Laneyrie said the company was building an “exceptional pipeline” of drilling targets with potential to drive substantial resource growth at Cerro Bayo.

“These new silver and gold veins, together with our existing geophysical targets, give us amazing exploration visibility and the project’s upside is immense,” he said.

“We currently have three drilling rigs focused on extending the current known resource, which will be the baseline of future restart studies.”

Monserrat and Pasquerito veins

The Monserrat vein extends for 1.2km as a splay vein off the existing Claudia vein and represents the longest strike found to date within the new area.

Geophysics also identified a previously unknown north-trending structure, dubbed the Pasquerito vein, which extends the Droughtmaster Corridor boundary a further 1km to the west.

At key intersections of the Pasquerito vein and the north-west trending veins, Andean’s field team identified a 40m x 40m breccia/stockwork zone containing quartz-silver sulphosalts that can often act as mineralisation focus points.

“All of the key characteristics observed across the new veins have been identified in the mined veins throughout the Cerro Bayo district and indicate the prospective nature to host economic mineralisation,” Mr Laneyrie said.

Aggressive campaign

Andean has continued to execute an aggressive growth campaign over its 330 sq km of granted tenure at Cerro Bayo.

“Over the previous 12 months of this campaign, we have seen over a 340% increase in mineral resources, the discovery of multiple new vein systems and the creation of an exploration pipeline to underpin long-term growth,” Mr Laneyrie said.

“Our team aims to continue building on this growth over the coming year while advancing to the next stage of this highly prospective project.”