First Andes Silver to drill Santas Gloria Silver property, Peru
First Andes Silver Ltd. [TSXV-FAS; OTC Pink-MSLVF; FSE-9TZ0] reported that it has entered into a drill contract for its maiden drill program at the high-grade Santas Gloria silver property, Peru.
Highlights: An initial 1,500-metre diamond drill program to commence in the upcoming weeks. Drilling to target Tembladera and San Jorge vein systems with previous high-grade results: Tembladera underground channel assays of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn.
San Jorge surface channel assays of between 93 to 2500 g/t Ag, and underground channel assays of up to 3210 g/t Ag. Fully funded drill program from recent private placement.
Drilling will initially target the strike and depth extensions of high-grade silver-base metal mineralized segments of the Tembladera and San Jorge veins, which have been defined by channel sampling of surface veins and underground workings.
San Jorge is a multiphase silver-rich intermediate sulphidation epithermal vein system, that is up to 6 metres wide at the surface and has been mapped over 2 strike kilometres. Drilling will test the down-dip extensions of a high-grade zone that returned surface channel samples assays of between 93 to 2500 g/t silver over 450 metres strike length. The company also plans to target a high-grade mineralized shoot beneath historical underground mine workings which returned underground channel samples grades of up to 3,210 g/t silver.
The Tembladera vein system is a complex of silver-rich intermediate vein splays and breccia’s in the south of the Santas Gloria silver property, with a cumulative vein strike length of over 4 km. Drilling at Tembladera will test the down-dip and strike extensions of the vein where underground channel sampling by the company that returned grades of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn. Additional drilling will also focus on the near surface down dip extensions of high-grade silver mineralization which has been defined in surface channel samples over a strike length of 400 metres along the Tembladera 1 and Tembladera 2 veins.
The Santas Glorias property is approximately 100 km from Lima, is at a relatively low altitude of 3,300 metres, and benefits from a community access agreement that is valid until 2028. The company was awarded three archaeology certificates (CIRA) that cover key drill targets and confirm that there are no archaeological impediments to drilling. The company’s environmental application (Ficha Tecnica Ambiental) and water permits have been accepted and an authorization for drilling (AIA) up to 20 pads. The company elected to initially construct only 10 of the possible 20 pads – allowing for optionality of pad location for a second round of drilling.