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FIRST ANDES SILVER LTD (TSXV: FAS) (OTC Pink: MSLVF) is a British Columbia-based company with a 100% interest in the high-grade Santas Gloria silver property in Peru. The company has initiated a maiden drill program, focusing on the Tembladera and San Jorge veins known for high-grade silver-base metal mineralization. The goal is to explore strike and depth extensions of these veins, leveraging surface and underground sampling data. With a community access agreement, archaeology certificates, environmental approvals, and water permits in place, FIRST ANDES SILVER LTD is poised for drilling success in a promising mining region.
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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