Andean Silver (ASX: ASL) has announced a significant increase in the mineral resource at its Cerro Bayo silver-gold project in Chile. The project’s mineral resource has grown by 22% to 111 million ounces of silver equivalent, grading at 353 grams per tonne. This increase follows Andean’s acquisition of Cerro Bayo in February of the previous year and reflects the success of their ongoing exploration strategy.
The updated resource estimate incorporates initial resources from the Pegaso 7 and Cristal discoveries made in 2024. According to Chief Executive Tim Laneyrie, these ‘outstanding results’ provide strong evidence of substantial untapped potential within the project. He also stated that the increased resource demonstrates Cerro Bayo’s scale and high-grade nature, emphasizing the considerable growth potential beyond this latest result. Future plans include further exploration along strike and down plunge, with a significant pipeline of greenfield targets already identified.
The initial resources from Pegaso 7 and Cristal account for over 65% of the recent additions to the overall resource. Andean is continuing exploration at Pegaso 7, where less than half of the known mineralization strike has been tested. The company is focusing on the high-grade underground vein potential within the central structure corridor and plans to test vein and stockwork intercepts within 300 meters of this corridor.
