Aftermath Silver Reports Strong Phase 3 Drill Results at Berenguela Project in Peru

Why It Matters

The results de‑risk the Berenguela project, indicating robust near‑term cash flow and advancing the path to production, which could materially enhance Aftermath Silver’s valuation.

Key Takeaways

• Phase 3 drilling confirms high‑grade silver‑copper zones at Berenguela
• Expanded program targets measured resources and metallurgical testing
• Copper grades exceeded expectations, boosting project economics significantly
• Pre‑feasibility study aims for completion by year‑end this
• Ongoing drilling will support early‑mine high‑grade feed production

Summary

Aftermath Silver announced Phase 3 drill results from its Berenguela project in Peru, highlighting a high‑grade silver‑copper intersection that could underpin early mine feed.

The drilling program pursued three goals: upgrade inferred resources to measured status, generate material for metallurgical testing, and conduct infill drilling around the future pit. Results confirmed the expected silver grades and revealed copper concentrations that exceeded the company’s forecasts, prompting an expansion of the drill campaign.

CEO Ralph Rushton emphasized a “steady stream of results,” noting that 15‑20 engineers are now working on a pre‑feasibility study covering infrastructure, logistics, and processing. He expects the study to be completed by year‑end, delivering the first robust economic model for the project.

If the high‑grade envelope expands as anticipated, Berenguela could deliver strong cash flow in its initial years, accelerate financing, and improve Aftermath Silver’s market positioning among junior silver producers.

Original Description

Aftermath Silver CEO Ralph Rushton joined Steve Darling from Proactive to announce the first batch of assay results from the company’s Phase 3 diamond drilling program at its Berenguela silver-copper-manganese deposit in the Department of Puno, southern Peru.

Rushton said the latest results cover 17 drill holes totaling 1,061.6 metres, part of an initial 45-hole program. Encouraged by positive geological indicators, strong drill access, and the efficiency of a smaller diamond drill rig, the company has expanded the program significantly to 90 holes totaling approximately 6,000 metres.

The company also made a strategic shift from its originally planned 2,000-metre reverse circulation (RC) program to diamond drilling at a comparable cost. This transition provides enhanced geological insight, including improved core recovery, structural interpretation, and geotechnical logging—key factors in advancing the project toward development.

The reported drill holes are primarily focused on infill drilling along a 225-metre strike length within the boundaries of the existing mineral resource. The objective is to better define near-surface, high-grade mineralization that could support a potential starter pit as part of future mining operations.

Aftermath Silver is concentrating its efforts on the western portion of the deposit, where higher-grade silver-copper mineralization has been identified close to surface. This area is considered a strong candidate for initial open-pit development, offering the potential for lower-cost, early-stage production.

Rushton noted that the latest intercepts rank among the strongest results seen across the company’s three phases of drilling to date. He also highlighted the consistent and encouraging association between silver and copper mineralization, which could enhance the overall economic profile of the Berenguela project moving forward.

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