First Andes Silver Provides Drill Targeting Update for Santas Gloria Project, Peru
Rhea-AI Summary
First Andes Silver (OTCQB: FASLF) announced an update on drill targeting for a planned 3,000 m diamond drill program at its 100%-owned Santas Gloria Project, about 55 km east of Lima, Peru. The work will test multiple intermediate-sulphidation epithermal veins, including Tembladera, San Jorge, Maribel and Paquita.
Tembladera hosts three principal veins over ~4 km of strike and is largely undrilled, with historical underground channel samples exceeding 10,000 g/t Ag. At San Jorge, traced over ~2.7 km, 21 holes were drilled in 2024–2025, 17 yielding reportable silver intercepts, such as 7.43 m at 224 g/t AgEq and 3.90 m at 268.2 g/t AgEq.
Single holes at Maribel and two at Paquita intersected mineralization and are supported by strong silver-in-soil anomalies. First Andes has engaged Explomin del Perú S.A.C. as drill contractor and plans to use a compact track-mounted rig capable of drilling from 0° to -90°. The company is also advancing permitting for additional drill platforms and environmental approvals.
Positive
- 3,000 m diamond drill program planned across four priority vein systems
- San Jorge drilling: 17 of 21 holes with reportable silver intercepts in 2024–2025
- High-grade intercepts up to 7.43 m at 224 g/t AgEq and 3.90 m at 268.2 g/t AgEq
- Extensive mapped strike: ~4 km at Tembladera and ~2.7 km at San Jorge
- Strong silver-in-soil anomalies at Maribel (~550 x 200 m) and Paquita (~500 x 140 m)
- Drill contractor Explomin engaged and specialized rig capable of 0° to -90° inclinations
Negative
- True widths unknown: all reported drill intervals are drill-core lengths only
- Tembladera largely undrilled despite ~4 km of mapped strike length
- Permitting still in progress for additional drill platforms and environmental approvals
News Market Reaction – FASLF
In the Aug 24 session, FASLF declined 7.00%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 24, 2026) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTCQB: FASLF) (FSE: 9TZ0) ("First Andes" or the "Company") today provided an update on drill targeting for the Company's planned drill program at its
Key Points Summary
- Finalizing drill targets: First Andes is finalizing plans for 3,000 metres ("m") of diamond drilling;
- Property-wide focus: Intermediate-sulphidation epithermal ("ISE") veins to be tested include Tembladera, San Jorge, Paquita and Maribel;
- Tembladera: Largely undrilled, with a cumulative strike length of ~4 kilometres ("km") and underground channel samples grading more than 10,000 g/t Ag;
- San Jorge: Cumulative strike length of ~2.7 km, with 17 of 21 holes to date having returned reportable silver intercepts and mineralization remaining open along strike and at depth;
- Maribel and Paquita: ~2.6 km combined strike, with all three 2024 drill holes returning intercepts, new soil data refining targets and mineralization remaining open along strike and at depth;
- Drill contractor engaged: The Company has engaged Explomin del Perú S.A.C. ("Explomin"), a Major Drilling company, to conduct the program;
- Specialized drill rig: The program is expected to use a compact, track-mounted underground-style diamond drill adapted for surface operation;
- Enhanced targeting: Candidate rig can drill at inclinations ranging from horizontal (0°) to vertically downward (-90°), enabling previously inaccessible parts of the vein systems to be tested; and
- Permitting advancing: The Company is advancing the permitting process for additional drill platforms and associated environmental approvals.
"This planned 3,000-metre program will be our most ambitious campaign at Santas Gloria, combining follow-up drilling of high-grade silver mineralization with new targets across four priority vein systems," stated Colin Smith, CEO and Director of First Andes Silver. "Targeting at San Jorge and Tembladera integrates previous drilling, underground sampling, historical workings and updated structural interpretation, while new soil geochemistry has refined targets at Maribel and Paquita. The specialized rig will allow us to test previously inaccessible extensions, particularly at Tembladera and San Jorge."
Drill Targeting Summary
Tembladera (Figure 1)
The Tembladera system comprises three principal veins with a cumulative strike length of approximately 4 kilometres and remains largely undrilled. Historical underground channel sampling returned silver grades of more than 10,000 g/t Ag, while small-scale historical workings expose portions of the mineralized system (see news release dated June 2, 2021). Two holes were completed during 2024, with SG015 returning 0.87 metres grading 131.4 g/t AgEq (72 g/t Ag, 0.05 g/t Au,
Figure 1: 3D long-section of Tembladera vein system, showing historical workings (red), underground sampling (see legend), 2024 drill holes (black), and proposed drill holes (green).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/310981_5b2578bd247808e6_002full.jpg
San Jorge (Figure 2)
The San Jorge vein has been traced for approximately 2.7 kilometres and drill-tested over only approximately 400 metres of strike. The structure was intersected in all 21 holes drilled during 2024 and 2025, with 17 holes returning reportable silver intercepts (see news release dated November 3, 2025). Highlights include 7.43 metres grading 224 g/t AgEq (193 g/t Ag, 0.05 g/t Au,
Figure 2: 3D long-section of San Jorge vein system, showing historical workings (red), underground sampling (see legend), 2024-2025 drill holes (black), and proposed drill holes (green).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/310981_5b2578bd247808e6_003full.jpg
Maribel (Figure 3)
The Maribel vein has been mapped over approximately 1.3 kilometres of strike and is characterized by a steeply dipping, silver-gold-base-metal mineralized structure. The only hole drilled at Maribel, SG010, returned 4.40 metres grading 134 g/t AgEq (80 g/t Ag, 0.44 g/t Au,
Paquita (Figure 3)
The Paquita vein has been mapped over approximately 1.25 kilometres of strike and locally reaches widths of up to 5 metres. Two holes completed during 2024 returned reportable silver intercepts, led by SG011 with 3.30 metres grading 110 g/t AgEq (64 g/t Ag, 0.31 g/t Au,
Figure 3: Plan map of Maribel and Paquita vein systems, showing mapped veins (red lines), rock samples (triangles), Ag-in-soil results (blue circles), 2024 drill holes (black), and proposed drill holes (green).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/310981_5b2578bd247808e6_004full.jpg
Technical Notes
All reported drill intervals represent drill-core lengths; true widths have not yet been determined. Silver-equivalent ("AgEq") values for both the 2024 and 2025 drilling were calculated using metal prices of US
Qualified Person
Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson is not independent and serves as Chief Geologist of First Andes Silver Ltd. and owns securities of the Company.
About First Andes Silver Ltd.
First Andes Silver Ltd. is a discovery-focused resource company advancing the
Using advanced WorldView-3 spectral analysis and systematic geochemical surveys, the Company has delineated multiple kilometre-scale silver-in-soil anomalies across a large hydrothermal system that remained historically undrilled prior to 2024. Following successful 2024–2025 drilling that intersected strong near-surface silver mineralization in 21 of 26 holes, First Andes is accelerating exploration in 2026 to expand the high-grade footprint at Santas Gloria.
In addition to Santas Gloria, the Company holds a portfolio of prospective silver exploration projects in New South Wales, Australia.
For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310981