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First Andes Silver Completes Initial Diamond Drill Program at Santas Gloria Silver Property

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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 ha completato il suo primo programma di perforazione a diamante presso il proprietà argento Santas Gloria in Perù. Il programma ha incluso 12 fori di perforazione a diamante per un totale di 1175,3 metri attraverso i sistemi di vene Tembladera, San Jorge, Paquita e Maribel. I punti salienti includono:

- Intercettazione di vene epithermali a solfuri intermedi contenenti argento con successo
- Focus su estensioni di strike e profondità di segmenti mineralizzati ad alta grade di argento e metalli di base
- La perforazione nel sistema di vene San Jorge (7 fori, 733,5 metri) ha mirato ad aree con precedenti campioni di canale superficiali di 93 a 2500 g/t Ag
- La perforazione nel sistema venoso di Tembladera (2 fori, 211,4 metri) ha testato aree con campioni di canale sotterranei precedenti di >10.000 g/t Ag
- La perforazione delle vene Maribel e Paquita (3 fori, 230,4 metri) ha mirato ad aree con campioni di canale superficiali fino a 582 g/t Ag e 8,57 g/t Au

I risultati delle analisi sono in attesa per tutti i fori di perforazione e guideranno la prossima fase di perforazione per definire ulteriormente il potenziale della profondità e dell'estensione del sistema di vene epithermali a Santas Gloria.

First Andes Silver ha completado su primer programa de perforación con diamante en la propiedad de plata Santas Gloria en Perú. El programa consistió en 12 agujeros de perforación con diamante que totalizaron 1175.3 metros a través de los sistemas de vetas Tembladera, San Jorge, Paquita y Maribel. Los aspectos destacados incluyen:

- Intercepción exitosa de vetas epithermales de sulfuros intermedios ricas en plata
- Enfoque en las extensiones strike y de profundidad de segmentos mineralizados de alta ley de plata y metales base
- La perforación en el sistema de vetas San Jorge (7 agujeros, 733.5 metros) se dirigió a áreas con muestras de canal en superficie anteriores de 93 a 2500 g/t Ag
- La perforación en el sistema de vetas Tembladera (2 agujeros, 211.4 metros) probó áreas con muestras de canal subterráneo anteriores de >10,000 g/t Ag
- La perforación en las vetas Maribel y Paquita (3 agujeros, 230.4 metros) se dirigió a áreas con muestras de canal en superficie de hasta 582 g/t Ag y 8.57 g/t Au

Los análisis están pendientes para todos los agujeros de perforación y guiarán la siguiente fase de perforación para definir más el potencial de profundidad y extensión del sistema de vetas epithermales en Santas Gloria.

퍼스트 안데스 실버(First Andes Silver)는 페루의 산타스 글로리아(Santas Gloria) 은(property)에서 첫 다이아몬드 드릴링 프로그램을 완료했습니다. 이 프로그램은 템블라데라(Tembladera), 산 호르헤(San Jorge), 파키타(Paquita), 마리벨(Maribel) 광맥 시스템을 포함한 12개의 다이아몬드 드릴 홀로 총 1175.3 미터로 구성되었습니다. 주요 하이라이트는 다음과 같습니다:

- 은 함유 중간 황화물 열수 광맥의 성공적인 탐지
- 고품질 은-기초 금속 광물이 함유된 구역의 함유 범위와 깊이 연장에 중점
- 산 호르헤 광맥 시스템에서의 드릴링(7개 구멍, 733.5 미터)은 93에서 2500 g/t Ag의 이전 표면 채널 샘플이 있는 지역을 겨냥했습니다.
- 템블라데라 광맥 시스템 드릴링(2개 구멍, 211.4 미터)은 >10,000 g/t Ag의 이전 지하 채널 샘플 지역을 테스트했습니다.
- 마리벨 및 파키타의 드릴링(3개 구멍, 230.4 미터)은 최대 582 g/t Ag와 8.57 g/t Au의 표면 채널 샘플이 있는 지역을 겨냥했습니다.

모든 드릴 홀에 대한 분석 결과는 대기 중이며, 이는 산타스 글로리아의 열수 광맥 시스템의 잠재적 깊이와 연장을 보다 정의하는 다음 드릴링 단계를 안내할 것입니다.

First Andes Silver a achevé son premier programme de forage au diamant sur la propriété argent Santas Gloria au Pérou. Le programme se composait de 12 trous de forage au diamant totalisant 1175,3 mètres à travers les systèmes de veines Tembladera, San Jorge, Paquita et Maribel. Les points clés incluent :

- Interception réussie de veines épithermales à sulfidation intermédiaire contenant de l'argent
- Concentration sur les extensions de strike et de profondeur des segments minéralisés en argent et en métaux de base de haute qualité
- Le forage dans le système de veines San Jorge (7 trous, 733,5 mètres) visait des zones avec des échantillons de canaux de surface précédents de 93 à 2500 g/t Ag
- Le forage dans le système de veines Tembladera (2 trous, 211,4 mètres) a testé des zones avec des échantillons de canaux souterrains précédents de >10 000 g/t Ag
- Le forage des veines Maribel et Paquita (3 trous, 230,4 mètres) visait des zones ayant des échantillons de canaux de surface allant jusqu'à 582 g/t Ag et 8,57 g/t Au

Les analyses sont en attente pour tous les trous de forage et guideront la prochaine phase de forage pour mieux définir le potentiel de profondeur et d'extension du système de veines épithermales à Santas Gloria.

First Andes Silver hat sein erstes Diamantbohrprogramm im Santas Gloria Silberbesitz in Peru abgeschlossen. Das Programm bestand aus 12 Diamantbohrlöchern mit einer Gesamtlänge von 1175,3 Metern in den Vennsystemen Tembladera, San Jorge, Paquita und Maribel. Die wichtigsten Highlights sind:

- Erfolgreiche Abfangung von silberhaltigen intermediären Sulfid-Adern
- Fokus auf Strike- und Tiefenverlängerungen von hochgradigen Silber-Basis-Metall-mineralisierten Segmenten
- Bohrungen im San Jorge-Vensystem (7 Löcher, 733,5 Meter) zielten auf Bereiche mit früheren Oberflächenkanalmustern von 93 bis 2500 g/t Ag ab
- Bohrungen im Tembladera-Vensystem (2 Löcher, 211,4 Meter) testeten Bereiche mit vorherigen unterirdischen Kanalmustern von >10.000 g/t Ag
- Bohrungen an den Venen Maribel und Paquita (3 Löcher, 230,4 Meter) zielten auf Bereiche mit Oberflächenkanalmustern von bis zu 582 g/t Ag und 8,57 g/t Au ab

Die Analysen für alle Bohrlöcher stehen noch aus und werden die nächste Bohrphase leiten, um das potenzielle Tiefen- und Erweiterungspotenzial des epithermalen Vensystems bei Santas Gloria weiter zu definieren.

Positive
  • Completion of maiden diamond drill program at Santas Gloria silver property
  • Successful interception of silver-bearing intermediate sulphidation epithermal veins
  • Previous high-grade surface and underground channel samples indicate potential for significant silver mineralization
  • Several kilometers of vein strike with high-grade surface samples remain to be drill tested
Negative
  • Assay results are still pending for all drill holes
  • Actual mineral content and economic viability of the project remain uncertain until assay results are received

Vancouver, British Columbia--(Newsfile Corp. - October 11, 2024) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") is pleased to announce that it has completed its maiden diamond drill program at the Santas Gloria silver property, located in Peru.

Highlights:

  • 12 diamond drill holes completed for a total of 1175.3 meters at the Tembladera, San Jorge, Paquita and Maribel vein systems.
  • Drilling successfully intercepted silver bearing intermediate sulphidation epithermal veins.
  • Assays pending for all diamond drill holes.

The drill program focused on strike and depth extensions of high-grade silver-base metal mineralized segments of the San Jorge, Tembladera, Paquita and Maribel veins, which were previously defined by channel sampling of surface veins and underground workings (Figure 1).

At the San Jorge vein system, a total of seven diamond drill holes were completed for a total of 733.5 meters. Drilling tested the down dip extensions of a high-grade zone that previously returned surface channel samples assays of between 93 to 2500 g/t Ag over 450 m strike length. In addition, First Andes targeted a high-grade mineralized shoot beneath historical underground mine workings which returned underground channel samples grades of up to 3210 g/t Ag.

The Tembladera vein system was drilled for a total of two diamond drill holes totaling 211.4 meters. Drilling at Tembladera tested the strike extensions of the Tembladera vein with one drillhole, where underground channel sampling by the Company that returned grades of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn. One hole was also drilled to test the near surface down dip extensions of high-grade silver mineralization which has been defined in surface channel samples along the Tembladera 1 vein.

Three holes for a total of 230.4 meters were drilled across the Maribel and Paquita veins in the north of the property. To test the near-surface down dip extensions of high-grade silver-gold mineralized intermediate sulphidation epithermal veins, which measure up to five meters wide at surface and returned assay values from surface channel samples up to 582 g/t Ag and 8.57 g/t Au.

Several kilometers of intermediate sulphidation epithermal vein strike with high grade surface channel sample assays remain to be drill tested.

Samples are presently being assayed at ALS in Lima Peru. All assays are pending. Drilling by MDH had excellent core recovery and overall quality. Assay results will assist First Andes in designing the next phase of drilling, which will seek to further define the potential depth and extension of the epithermal vein system at Santas Gloria.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10525/226309_figure1.jpg

Figure 1: Map of the Santas Gloria Property showing planned drill pads, hole traces and channel sampling results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/226309_1b168a8b14115825_002full.jpg

Qualified Person

Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in Peru.

For more information please contact:

Jacob Garland
Phone: (604) 806-0626
E-mail: info@firstandes.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226309

FAQ

How many diamond drill holes did First Andes Silver (MSLVF) complete at Santas Gloria?

First Andes Silver completed 12 diamond drill holes for a total of 1175.3 meters at the Santas Gloria silver property in Peru.

What were the target areas for First Andes Silver's (MSLVF) drilling program at Santas Gloria?

The drilling program targeted the Tembladera, San Jorge, Paquita, and Maribel vein systems at the Santas Gloria silver property.

What were the highest silver grades from previous channel samples at Santas Gloria for First Andes Silver (MSLVF)?

Previous channel samples at Santas Gloria showed grades up to >10,000 g/t Ag in underground samples from the Tembladera vein system, and up to 2500 g/t Ag in surface samples from the San Jorge vein system.

When will First Andes Silver (MSLVF) receive the assay results from the Santas Gloria drill program?

The press release does not specify a date for receiving assay results. It states that samples are currently being assayed at ALS in Lima, Peru, and all assays are pending.

FIRST ANDES SILVER LTD

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