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Andean Silver Limited (ASX:ASL)
ALERT: Price-sensitive ASX Announcement for ASL
Current share price for ASL : $2.070 1.37 (195.71%)+
Announcement
Release
31 Jul 2024 9:17AM
Price at Release
$0.700
Full Release
Summary
Andean Silver Limited reported exceptional assay results from its initial drilling at Pegaso 7, extending the known mineralised zone by 100m. A second drill rig commenced operations at the Cristal vein swarm in the Laguna Verde district. The company is on track for a Resource update in September 2024, currently holding a JORC Indicated and Inferred Mineral Resource Estimate of 50Moz. Tim Laneyrie was appointed CEO, and the company successfully raised A$10.5m to accelerate resource growth. The company also changed its name to Andean Silver Ltd and continued ramping up exploration and site-based activities.
Key Points
- Exceptional assays up to 4,649g/t silver-equivalent from initial drilling at Pegaso 7.
- Drilling extended the known mineralised zone by 100m down plunge.
- Second drill rig mobilised at Cristal vein swarm, Laguna Verde district.
- Multiple high-grade silver-gold veins identified near historic Guanaco mine.
- Andean Silver on track for Resource update in September 2024.
- Chief Geologist Tim Laneyrie appointed as CEO.
- Company name changed to Andean Silver Ltd.
- Successful A$10.5m raising to accelerate Resource growth.
- Continued ramp up of exploration and site-based team.
- Appendix 5B Cash Flow Report details cash movements and placements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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