First Andes Silver intercepts San Jorge epithermal vein in first hole at Santas Gloria Project, Peru

First Andes Silver Ltd. [TSXV: FAS; OTC Pink: MSLVF; FSE: 9TZ0] reported field logging and interpretation results from the first diamond drill hole completed to target depth, SG017, as part of its ongoing 2,000-metre drill program at the 100%-owned Santas Gloria Project located approximately 55 km east of Lima, Peru.

Drill hole SG017 at the San Jorge Vein intercepted a broad zone of sulphide-mineralized hydrothermal breccia from 136.60 to 194.20 m (57.60 m drilled width), characterized by strong silicification, argillic alteration and local sericitic alteration.

Sulphide mineralization is present throughout the interval, with pyrite as the dominant mineral, reaching concentrations of up to 20%, accompanied by local galena, sphalerite, barite and tetrahedrite.

Sulphidic mineralization intensifies from 162.00 m, with significant occurrences of galena and sphalerite, along with barite and tetrahedrite crystals associated with quartz veins.

The most intense brecciation occurs from 147.00 to 179.80 metres, where the breccia features a strongly argillic altered matrix, silicified clasts, and mineralized veins with pyrite, galena, and sphalerite.

A semi-massive interval of galena mineralization up to approximately 15 cm in width was intercepted at 179.90 m which included up to 20% pyrite and barite, as well as locally euhedral sphalerite crystals.

Field observations and logging from SG017 confirm the presence of a robust, polymetallic-mineralized intermediate sulphidation hydrothermal system at depth, which remains open in all directions.

The program’s first hole, SG016, did not reach target depth after intercepting a void at 77.00 metres, with alteration and mineralization commencing at 74.70 metres, suggesting the onset of the epithermal zone – four samples totalling 2.60 metres were submitted for assay.

The void was likely the result of small scale artisanal miners stoping a near-surface mineralized vein.

A total of 50 HQ-diameter core samples (half-core) totalling 43.00 metres were collected and submitted from drill hole SG017 to Alfred H. Knight Group laboratory in Lima, Peru for assay, with initial results expected in three to four weeks.

“The intersection of a broad, sulphide-rich hydrothermal breccia in SG017 marks a significant breakthrough in the geological model at Santas Gloria,” stated Colin Smith, CEO and Director of First Andes Silver. “The intensity of hydrothermal alteration, the presence of semi-massive galena and sphalerite, and the occurrence of pervasive polymetallic sulphide mineralization all suggest that vectoring into the core of a well-preserved, fertile sulphide system. With a vertical intercept depth of 125 and 170 metres, this drill test represents the deepest recorded intersection of epithermal mineralization in the Project’s history. These results further underscore the scale and continuity of the San Jorge system, and we look forward to receiving assay results to evaluate the grade profile of this promising, open-ended mineralized zone.”

Some core intervals were strongly oxidized and represents a supergene effect, whereby surficial groundwaters percolate down structures, resulting in oxidation of sulphides. Intermediate sulphidation epithermal deposits are mined throughout central Peru, and have demonstrated vertical extents in excess of 600 metres.

First Andes Silver holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes’ maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.