Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF) CEO Ralph Rushton talked with Proactive about the latest drill results from the Berenguela silver-copper project in Peru.
Rushton explained that the company was able to expand the drill program after securing additional funding from warrant exercises.
Proactive: You've got results out from your Berenguela silver-copper project in Peru. You increased the number of holes in this drill program. Why was that and what were you seeing?
Ralph Rushton: We had the opportunity to expand the program. We had some additional cash coming into the company via warrant exercising that enabled us to follow up on some of the good results from this program. We saw that the mineralization was still open towards the east, so we added a few more holes there. We also did some additional infill drilling and geological investigations on some faulted zones while the drill rig was on site and funding was available.
You are announcing 12 additional drill holes with positive numbers. What excites you about these particular results?
We are seeing elevated copper towards the east of the mineralization. That was something we suspected. The mineralization seems to be open, and we would like to return to do more drilling in that area. Copper is a mineral of interest, expected to be in short supply in the coming decades. Expanding that part of the system should be positive.
In the news release, you mentioned the drilling angle. Can you explain what the high angle means?
High angle means drilling at 90 degrees to the mineralization. This approach records the true thickness of the mineralization. If you drill at a narrow angle, the drill core appears elongated and exaggerated. Recording the true thickness makes it easier to estimate tonnes and grade.
It looks like there is more room for expansion. What are the next steps?
The main project is open towards the east. We need to build drill roads there due to the steep topography. Somewhere on the landholding could be the source of the mineralization, which is another target to investigate. To the southwest, there is another copper-enriched area we have not yet drilled as we are still permitting. We hope to drill there towards the end of the year, offering additional upside for shareholders.
With these results and the success of this drill program, is the company seeing more interest?
Absolutely. We have excellent trading volumes both here and on the OTCQX in the States. We are averaging close to 2 million shares a day. This reflects interest in silver, copper, and the precious metals sector as a whole. Liquidity is good for shareholders as it eases buying and selling positions.
Quotes have been lightly edited for style and clarity