Andean Silver uncovers bonanza-grade veins at Cerro Bayo project in Chile

Andean Silver (ASX: ASL) has defined extensive outcropping veins over a large standalone area of the Cerro Bayo project in Chile, where channel samples and rock chips have returned bonanza grades of silver equivalent (AgEq).

The assays were generated over an initial area of 4 kilometres by 1.8km within the Droughtmaster Corridor and are believed to demonstrate Cerro Bayo’s “world-class potential” and scope to generate future growth outside known resource areas.

Best results

Best rock chip results were 9,929g/t AgEq (2,351g/t silver and 91.3g/t gold), 4,650g/t AgEq (1,845g/t silver and 33.8g/t gold) and 3,513g/t AgEq (1,341g/t silver and 26.2g/t gold).

A desktop review of sawn channel results from the large system included assays of 1.7m at 581g/t AgEq (282g/t silver and 3.6g/t gold), 1.1m at 631g/t AgEq (357g/t silver and 3.3g/t gold) and 0.6m at 4260g/t AgEq (2272g/t silver and 24g/t gold).

Andean’s exploration team will continue to delineate the target area over the next three months to define a series of priority drill targets with a focus on updating the resource in September.

‘Immense potential’

Chief executive officer Tim Laneyrie said the results prove the “immense potential” of the large mineralised Cerro Bayo district.

“To establish such a significant target with dozens of high-grade silver-gold veins in an area with such a long operational history demonstrates the compelling untapped potential of this region,” he said.

“We have mapped very high-grade outcropping veins over an area twice the size of the original Cerro Bayo mine, which was the most prolific mine this region has ever hosted [and] will now move quickly to refine drill targets with further sampling ahead of a drilling program.”

Southern extension

Droughtmaster Corridor represents the southern extension of the Guanaco Vein Corridor area, which is reported to be similar to the prolific Cerro Bayo underground mine district comprising dozens of silver-gold-bearing veins of up to 4 metres in width.

The corridor has received relatively shallow and sporadic drilling in areas specifically targeting the Percheron Vein.

It is bounded by the recently discovered Claudia vein to the west and the Raul West vein to the east and includes significant north-south to north-east trending veins such as Veta Madre and Veta Segunda.

Mr Laneyrie said “exceptional intersections” had warranted follow-up testing, while historic surface channel sampling showed the surface veins could be potentially amenable to a combined open-pit and underground mining scenario.