Andean Silver (ASX:ASL) said geophysical surveys supported the potential presence of an extended mineralized system at its Cerro Bayo silver-gold project in Chile, according to a filing with the ASX on Wednesday.
The surveys defined over a dozen structural targets extending north from the Sinter Hill prospect and many of these correspond to known surface veins, the filing said.
The firm has deployed a fleet of three drill rigs on-site for its exploration program, as well as a geological team to support the work. A fourth drill rig is also being considered.
Its shares rose 8% on market close on Wednesday.
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