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Overview of First Andes Silver Ltd.
First Andes Silver Ltd. (MSLVF) is a British Columbia-based mineral exploration company that holds a 100% interest in the Santas Gloria silver property in Peru. Focused on high-grade silver-base metal mineralization, the company employs advanced exploration techniques that include diamond drilling and systematic channel sampling to extend its understanding of multiple vein systems. Positioned within an established mining district, First Andes Silver leverages both modern technology and proven geological methods to evaluate and define its high-potential resource base.
Core Business and Operations
The company’s core business is centered around the exploration of intermediate sulphidation epithermal systems, with a particular emphasis on the identification and definition of high-grade silver deposits. Utilizing a methodical approach, its exploration program targets both surface and subsurface mineralization through strategically planned drill programs that test strike and depth extensions of known vein systems, including the Tembladera and San Jorge veins. This approach is designed to confirm the continuity of mineralization and test for further extensions beneath historic mine workings.
Key operational aspects include:
- Exploration Techniques: The use of diamond drill rigs, channel sampling, and geologic mapping to delineate mineralized zones.
- Operational Efficiency: Implementation of quality assurance protocols including industry-standard laboratory tests to ensure accurate assay results.
- Permitting and Regulatory Compliance: The company operates under robust regulatory frameworks with environmental approvals and community access agreements, facilitating smooth exploration activities.
Geological and Technical Insights
First Andes demonstrates expertise through its detailed understanding of the mineralized systems at Santas Gloria. The property hosts multiple vein systems that exhibit high-grade silver-base metal mineralization within an intermediate sulphidation epithermal setting. Geological assessments indicate that these systems are extensive in both lateral strike and depth, making them significant from a resource perspective. The company’s detailed geological mapping and sampling campaigns have laid a solid foundation for its ongoing and future drilling programs, ensuring that exploration is both comprehensive and technically sound.
Market Position and Industry Relevance
Within the broader mining exploration sector, First Andes Silver holds a strategic position by focusing on a resource-rich deposit that benefits from established infrastructure and favorable community agreements. Its operations are characterized by a balanced investment in modern exploration methods and rigorous analytical techniques to deliver reliable technical data. This balance reinforces not only the company’s credibility among industry peers but also an overall trustworthiness that is essential for attracting further capital and technical partnerships.
Technical and Financial Considerations
While the company’s financing activities, such as private placements, support its exploration programs, the emphasis remains on the technical validation of the resource. This approach ensures that discussions about operation, drilling results, and geological evidence maintain a neutral, yet highly informative tone. The firm’s consistent adherence to quality assurance methodologies and its focus on methodical exploration rather than speculative forecasts enhance its reputation among analysts and investors interested in long-term observational data.
Investor and Analyst FAQs
Investors and market researchers will note that First Andes Silver’s detailed exploration programs not only define the deposit but also inform the company’s strategic planning. Through clear communication of its exploration methodologies, the company provides a transparent framework to assess its technical potential within a competitive landscape. The integration of modern drilling methods with classical geological surveys creates a comprehensive picture of the resource potential at Santas Gloria, making it a noteworthy entity in the mineral exploration industry.
First Andes Silver (TSXV: FAS) (OTC: MSLVF) has successfully closed its oversubscribed private placement financing, raising $1,065,000 through the issuance of 21,300,000 common shares at $0.05 per share. The company paid finders' fees of $38,500 and issued 770,000 non-transferable warrants exercisable at $0.05 per share for two years.
The proceeds will fund a follow-up drill program at the Santas Gloria silver property and general working capital. Executive Chairman Ian Stalker participated in the offering, purchasing 2,000,000 shares for $100,000. The securities issued will have a four-month resale restriction period from the issue date.
First Andes Silver (TSXV: FAS) (OTC: MSLVF) has appointed Ian Stalker as Executive Chairman and director, alongside James Hutton as advisor. Stalker brings over 50 years of mining experience, having raised over $1 billion throughout his career and directed twelve major mining projects. He previously served as CEO of K92 Mining and LSC Lithium, which sold for C$111 million in 2019.
The company announced a non-brokered private placement of up to 20 million shares at $0.05 per share, aiming to raise $1,000,000. The proceeds will fund a new drill program at the Santas Gloria silver property and working capital. The company granted Stalker 500,000 stock options at $0.05 per share and 500,000 restricted share units, vesting over two years.
First Andes Silver (TSXV: FAS) has announced significant high-grade silver assays from its maiden diamond drill program at the Santas Gloria silver property in Peru. Key highlights include 7.43m at 224 g/t AgEq with a high-grade section of 0.95m at 754 g/t AgEq. The program successfully tested multiple vein systems including San Jorge, Tembladera, Paquita, and Maribel, with 11 out of 12 holes reporting significant silver grades. Most holes were drilled in the oxide portion of the veins, with intercepts between 30-80m from surface. The company plans to conduct follow-up drilling targeting high-grade silver in the sulphide zones.
First Andes Silver has completed its maiden diamond drill program at the Santas Gloria silver property in Peru. The program consisted of 12 diamond drill holes totaling 1175.3 meters across the Tembladera, San Jorge, Paquita, and Maribel vein systems. Key highlights include:
- Successful interception of silver-bearing intermediate sulphidation epithermal veins
- Focus on strike and depth extensions of high-grade silver-base metal mineralized segments
- Drilling at San Jorge vein system (7 holes, 733.5 meters) targeted areas with previous surface channel samples of 93 to 2500 g/t Ag
- Tembladera vein system drilling (2 holes, 211.4 meters) tested areas with previous underground channel samples of >10,000 g/t Ag
- Maribel and Paquita veins drilling (3 holes, 230.4 meters) targeted areas with surface channel samples up to 582 g/t Ag and 8.57 g/t Au
Assays are pending for all drill holes and will guide the next phase of drilling to further define the potential depth and extension of the epithermal vein system at Santas Gloria.
First Andes Silver (TSXV: FAS) (OTC Pink: MSLVF) has received authorization from the Ministry of Mines in Peru to start its permitted drill program at the Santas Gloria silver property. The drill rig arrived on site on August 3, 2024, with the maiden drill program set to begin on August 5, 2024. The program will focus on strike and depth extensions of high-grade silver-base metal mineralized segments of the Tembladera and San Jorge veins.
The San Jorge vein system has shown surface channel samples assays of 93 to 2500 g/t Ag over 450 m strike length. The Tembladera vein system has returned underground channel sampling grades of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn. The Santas Glorias property is located 100 km from Lima at an altitude of 3300 m and has a community access agreement valid until 2028.
First Andes Silver has signed a drill contract for its Santas Gloria silver property to commence an initial 1,500m diamond drill program targeting high-grade silver-base metal mineralized segments. The program will focus on the Tembladera and San Jorge vein systems with previous high-grade results, fully funded by a recent private placement. The drill will test down dip extensions of high-grade zones and strike extensions of veins, with the property benefiting from community access agreements and environmental permits.
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