Aftermath Silver Ltd. (TSXV: AAG, OTCQX: AAGFF) has announced further promising assay results from its Phase 2 diamond drill program at the Berenguela silver-copper-manganese deposit in southern Peru. The ongoing program aims to expand and upgrade the resource estimate at the site.
The latest results cover 23 holes from the planned 60-hole (4,600m) drilling initiative. The company is awaiting overlimit check assays for additional holes.
*Note: AFD109 includes a higher-grade interval within the larger intersection.
Ralph Rushton, President and CEO of Aftermath Silver, stated that the results from this second batch of drilling are encouraging. Holes AFD064 to 077 were used for geological investigation, specifically targeting a north-south fault zone within the mineral resource. Holes 105 to 113 were resource infill holes on the eastern side of the resource, in an area known as the east-central anticline. The objective of these holes is to upgrade inferred resources to the measured and indicated categories. The results align with previous drilling data and will be incorporated into an updated block model.
The Berenguela project is located less than 4 miles from key infrastructure, including road, rail, and power lines, and is a four-hour drive from Arequipa. Aftermath Silver has the option to acquire 100% interest in the Berenguela project via an agreement with SSR Mining.
The deposit is potentially open-pittable and contains silver, copper, and manganese, all of which are crucial for clean energy and battery applications. Copper and manganese are designated as critical metals by both the US government and the European Union.
With the recent exercise of 1,314,000 warrants generating proceeds of almost C$460,000, the company is positioned to allocate additional funding to geological, metallurgical, and engineering studies at Berenguela.
The company published a resource estimate in March 2023 based on over 300 core and RC holes. Metallurgical testing is underway to refine methods for producing silver and copper metal, as well as commercial battery-grade or fertilizer-grade manganese products.
