Aftermath Silver (TSX-V:AAG) Ltd told investors that its drill program at the Berenguela silver-copper-manganese project in southern Peru was progressing well and that core samples will be submitted for assay during February this year.
"To date, the team has completed 18 diamond core holes for a total of 1,540 metres. Core recoveries have been excellent, averaging approximately 94%," the explorer said in an update.
"Ten holes have been completed at HQ diameter for resource infill and possible expansion, and future holes will also test additional targets. Eight holes have been completed at PQ diameter to recover mineralized rock with varying silver-copper content for metallurgical test work which is being supervised by Ausenco. A number of holes will be drilled to twin historic RC holes to compare assay data for RC chips versus core samples."
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Aftermath struck an option to buy a 100% interest in the project, which it is advancing through a pre-feasibility study, through a binding agreement in 2020 with SSR Mining.
In addition, an ongoing metallurgical program is currently underway in Australia, completing pre-concentration magnetic separation test work on low and medium grade composites made from existing core. The work is under the supervision of engineering firm Ausenco.
Meanwhile, the company's community relations (CR) field team, led by former World Bank senior social development specialist Victor Grande, is continuing day-to-day engagement with local communities and stakeholders, noted Aftermath.
The firm has begun a 'Local Workers Program' to maximize job opportunities at Berenguela and so far, 14 local workers have joined the Aftermath team including a junior geologist.
In Chile, the firm has an option to acquire 100% interest in the Challacollo silver-gold project through a binding agreement with Mandalay Resources, and it also owns an 80% interest, with an option to acquire the remaining 20% from SSR Mining, of the Cachinal silver-gold project.
Contact the writer at giles@proactiveinvestors.com