Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF) has released an updated Mineral Resource Estimate (MRE) for its Berenguela silver-copper-manganese deposit in southern Peru, highlighting a significant expansion and upgrade of its previous 2023 resource.
The new estimate is based on the most comprehensive geological model of the deposit to date, according to Aftermath.
It shows a 28.3% increase in Measured and Indicated (M&I) resources, rising by 11.37 million tonnes to 51.55 million tonnes, driven by extensive infill drilling conducted in 2024 and 2025, with roughly 90% of the drilling focused within the historic resource area.
Contained metals in the M&I category now include 122.5 million ounces of silver, 2.93 million tonnes of manganese, 717.1 million pounds of copper, and 372.4 million pounds of zinc.
Inferred resources account for 22 million ounces of silver, 0.47 million tonnes of manganese, 118.4 million pounds of copper, and 80 million pounds of zinc.
"The new MRE reflects a significant derisking of the Berenguela resource as the 2024/2025 drilling has successfully defined areas of mineralization near the margins and confirmed the consistent nature of the resource,” Aftermath Silver president Ralph Rushton said in a statement. “The MRE shows a 28% gain in the measured and indicated tonnes, adding to the M&I metal inventory at Berenguela.”
Rushton added that management was pleased to see the M&A grades for silver, copper, and manganese held up well with minimal drop off as the company defined areas of mineralization near the margins of the resource. “This confirms the consistent nature of the mineralization across the length and breadth of the known footprint,” he said.
The MRE is reported within conceptual open-pit mining constraints at a cut-off grade of $137.40 NSR.
Mineralization at Berenguela is hosted mainly in thickly bedded, folded limestones and dolomitized limestones of mid-Cretaceous age and is interpreted as a carbonate replacement deposit with hypogene manganese-oxide style mineralization.
The mineralized zone extends roughly 1,500 meters in length, 200 to 400 meters in width, and has been identified up to 80 meters below surface.
Rushton added that the company is now focused on expediting the development and engineering work at Berenguela. “We are also planning additional drilling toward the eastern margins of the mineralization to follow up the high-grade copper intersection seen in AFD 100, which intersected 156m from surface grading 290 g/t silver, 1.12% copper and 7.3% manganese,” he said.