Andean Silver (ASX: ASL) announced a significant increase in the mineral resource at its Cerro Bayo silver-gold project. The resource has been updated to incorporate the Pegaso 7 and Cristal discoveries. The new resource estimate represents a 22% increase over the previous maiden result, now totaling 111 million ounces of silver equivalent (AgEq) grading 353 grams per tonne. This includes an increase of 1.5 million tonnes at 408g/t for 20 million ounces AgEq, driven largely by initial resources defined at Pegaso 7 and Cristal within the Laguna Verde Mine Complex (LVMC). These two deposits account for over 65% of the latest resource additions.
The company attributes this growth to its aggressive drilling and exploration strategy. Since acquiring the Cerro Bayo project in February 2024, Andean Silver has increased the mineral resource by approximately 439%. Ongoing drilling at the LVMC is focused on expanding existing resources at the Coyita North deposit and defining deeper mineralized shoots within Pegaso 7. Early work at the Cristal corridor indicates the presence of multiple structural zones, supporting a broad mineralized area. A large geophysical survey is underway to explore the potential for a mineralized system extending north from the Sinter Hill prospect. The company hopes the geophysics survey can identify potential intact epithermal mineralized zones below extensive vein networks. Andean plans to continue its aggressive exploration approach to unlock further potential at Cerro Bayo, with CEO Tim Laneyrie stating the project’s scale supports the belief that it can be a globally significant silver-gold asset.
