Andean Silver (ASX:ASL) said the mineral resource estimate for the Cerro Bayo silver-gold project in Chile expanded to 9.8 million tonnes at 353 grams-per-tonne grade of silver equivalent for 111 million ounces of silver equivalent, an 18% increase in total tonnes and 22% increase in total silver-equivalent ounces, according to a Tuesday Australian bourse filing.
It is also conducting a drill program to upgrade inferred resources to measured and indicated resources. Regional exploration drilling and geophysics is also underway and will test high-priority targets, with results anticipated in the upcoming quarter.
The firm is continuing to generate a pipeline of drill targets throughout its current district-wide field mapping and geophysical campaign that is expected to support a multi-year exploration drilling program.
The program aims to test extensions of known mineralization, vast tracts of underexplored mineralized outcropping veins, and a pipeline of targets.
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