VANCOUVER, BC / ACCESSWIRE / April 10, 2014 / Aftermath Silver Ltd. (the "Company" or "Aftermath Silver") will commence exploration at the San Andres silver project in Durango, Mexico this month following approval of the program by the Board of Directors.
San Andres is fully permitted with an existing 300 tpd mill and camp facility on site. With the exception of investment in the mill and the granting of the permits to commence mining (2006-), the project has been largely untouched by modern exploration since historic mining operations ceased in 1915 at the time of the Mexican Revolution. According to historic Mexican Government records (which have not been independently verified and thus should not be relied on) 17 Moz of silver were produced from 1890-1915. The mine is not currently in operation remaining on care and maintenance.
On the project area, multiple structurally controlled epithermal high-grade silver-lead veins occur over a 2 km by 1.5 km area with numerous historic workings located on the property.
This first phase program is designed to test both the up- and down-dip extensions of the Esperanza vein that was the main source of high-grade historic production. Two underground rock samples taken for comparison purposes with previous sampling, for the Company's NI43-101 Technical Report (October 9th, 2013) on the property, yielded the following grades from Esperanza - 635 g/t Ag, 2.38% Pb, 0.126 g/t Au; and 4,040 g/t Ag, 8.95% Pb, 1.34 g/t Au. In addition, one sample taken from the upper De Enmedio vein returned 2,460 g/t Ag, 10.1% Pb and 0.96 g/t Au. All three samples returned higher values than had previously been reported by earlier sampling.
In addition, the planned 2014 program will seek to build detailed geologic maps, better understand the controls of mineralization on the project, and prioritize and define drill targets through extensive surface and underground sampling, prospecting and mapping by Company geologists. The program will also evaluate the presence of bulk tonnage targets stratigraphically below the high-grade veins identified on the property by Company geologists during due diligence of the property in 2013.
The results of this program should allow the Company to define a number of drill targets that can be tested later in the year.
The San Andres project is located in Durango State, Mexico and lies approximately 8 km to the east of Chesapeake Gold's Metates deposit (resources of 526 Moz Ag, 18.5 Moz Au and 4.2 B lbs of zinc) and 6.5 km south of the privately-owned and operated 1,200 tpd San Miguel del Cantil Au-Ag mine.
The 2014 field program is being performed under the supervision of Adrian Fleming MAusIMM(CP), RPGeo, Director of Aftermath Silver and a Qualified Person as defined by NI 43-101. Mr. Fleming prepared and reviewed the technical information in this news release on behalf of Aftermath Silver.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, "forward-looking statements") for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE: Aftermath Silver Ltd.