Andean Silver (ASX:ASL) said that the initial geophysical survey at its 100% owned Cerro Bayo silver-gold project in Southern Chile identified several exploration targets, according to a Thursday Australian bourse filing.
The results around the existing Raul and Cerro Bayo resource areas show potential for depth extensions to previously known mineralization, the filing said.
The geophysics program is 30% complete and ongoing. The survey results will be used to guide the design and permitting of upcoming drill programs at the project.
The firm's shares rose 5% on market close on Thursday.
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