Andean Silver Limited (ASX: ASL) has reported its highest-grade drill results to date from the Cerro Bayo silver-gold project in Chile. The company intercepted 1.4 metres at 25,340g/t silver equivalent within a broader 2.4-metre interval at the Trinidad vein. This result represents a significant advancement over previous reporting; by comparison, the company’s 31 March 2026 announcement identified peak grades of 1,523g/t AgEq, highlighting a substantial increase in grade profile as drilling progresses.

The current infill drilling program across the Laguna Verde mine complex is primarily designed to convert existing Inferred Resources into the higher-confidence Measured and Indicated categories. The latest results have confirmed strong mineralisation continuity, which the company intends to integrate into an upcoming feasibility and restart study. This work remains a core technical component in Andean’s efforts to establish the project’s future cashflow potential.

"These latest results from infill drilling within the Inferred Resource areas highlight the strong continuity of the mineralisation at the Cerro Bayo Project and therefore the huge opportunity we have to drive value by upgrading these resources to Measured and Indicated."

"We will also be advancing several key work streams as part of the feasibility study with the aim of demonstrating the strong cashflow potential of this project."

— Matthew Allen, Managing Director

In addition to the ongoing infill work at Laguna Verde, Andean is preparing to expand its exploration efforts significantly. For the first time in two decades, the company will commence resource growth drilling across the wider district this quarter. These new programs will target several known deposits, including Guanaco, Raul, and Marcela, aiming to build upon the project's current total resource base of 136 million ounces of silver equivalent.

The company remains well-positioned to execute these technical programs. At the end of the March 2026 quarter, Andean reported holding A$53.4 million in cash. Management confirmed that this liquidity will be directed toward funding the dual-track strategy of resource growth drilling and the completion of necessary feasibility and future economic studies. By focusing on both resource definition and expansion, the company intends to refine the geotechnical and metallurgical parameters required for its transition to production.

The Trinidad vein has emerged as a key area of interest, with drilling demonstrating the gold-rich nature of the shallower lodes. While the current 800-metre strike length of the Trinidad corridor continues to provide high-grade results for resource conversion, upcoming expansion drilling will also test mineralisation down-plunge and approximately 400 metres north of the main mine area. These efforts are expected to provide additional data points for the project's future mine planning, supporting the development of multiple mining fronts.

Read the full announcement: Andean drills highest grades ever at Cerro Bayo Project