Aftermath finalizes phase 1 plan for Chile projects
2020-04-20 09:54 ET – News Release
Mr. Ralph Rushton reports
AFTERMATH SILVER ANNOUNCES CHILEAN EXPLORATION PLANS AND CORPORATE UPDATE
Aftermath Silver Ltd., in strictly adhering to Canadian and Chilean government directives and other recommendations to mitigate the spread and transmission of COVID-19, cannot currently mobilize people or equipment to the Cachinal and Challacollo silver projects in northern Chile. Planning has, however, continued and the scope of the phase 1 programs at both projects has been finalized.
In the first week of March, prior to the escalation of COVID-19 in Canada and Chile, the company conducted site visits at both Cachinal and Challacollo. The objective was to finalize the location of the planned drill sites and advance other planning. Details of the planned phase 1 programs at Challacollo and Cachinal are described herein.
Challacollo planned phase 1 program
Aftermath’s exploration work is focusing on the potential of the material located above the main Lolon vein, the Halo target. The Lolon vein hosts the historic mineral resource, no mineral resource has ever been prepared for any part of Challacollo outside of the Lolon vein.
Previous operators focused predominately on the Lolon vein, as such large sections of RC chips and drill core have not been assayed. As soon as possible, the company will proceed with the sampling and assaying of over 3,000 metres of existing drill core from the Halo target area, covering a strike length of approximately one kilometre. These holes may not capture the entire width of the hanging-wall mineralization; however, sampling them is an effective means of obtaining useful data from the hanging wall. Once this core sampling program is complete, Aftermath will conduct an initial metallurgical program on the hanging-wall mineralization.
Permitting of an initial diamond drilling program scoped at over 4,500 m will commence at the same time.
About Challacollo silver-gold project
Aftermath has entered into a definitive agreement with Mandalay Resources Inc. to purchase its 100-per-cent interest in the Challacollo silver-gold project in Chile.
Challacollo is a low-sulphidation epithermal deposit, which hosts a historic 30-million-silver-ounce indicated mineral resource (4.7 million tonnes at 200 grams per tonne silver) and a 6.9-million-silver-ounce inferred mineral resource (1.6 million tonnes of 134 g/t), with associated gold credits.
Previous drilling concentrated on the principal vein (Lolon vein) to a depth of approximately 200 m below surface. Aftermath will focus its initial exploration efforts on parallel vein systems, not included in the historic mineral resource, which have some preliminary drilling. The oxidation level bottoms at approximately 200 m below surface; however, the down-dip extent of the mineralized structures remains unknown. Gold and base-metal grades are generally observed to increase with depth.
The Challacollo project is located in Chile’s Tarapaca region (Region I). The project is approximately 30 km east of the Pan American Highway. Power transmission lines are located 15 to 30 km from the property. The Project includes water rights. For further details, please see the company news release dated Aug. 1, 2018.
Cachinal planned phase 1 program
Following completion of a detailed data compilation and the March site visit, the initial program for Cachinal has been finalized. Again, this work will commence as soon as practicable after the COVID-19 movement restrictions are lifted.
Fieldwork will commence with a remote 3-D laser survey of the historic mining voids. The company is the process of obtaining quotations. This will provide an accurate assessment of the historic mining.
On the main mineralized structures, a program of 3,500 m of reverse circulation and diamond drilling has been designed. This program will utilize existing drill sites to minimize disturbance and covers the two km of known strike length. Core from this program will also be used to advance metallurgical test work.
Inventorying of existing historic run-of-mine stockpiles and leach pads will also be undertaken. Historic sampling of these could provide sufficient evidence to warrant more detailed systematic surface sampling. If results are positive, they will be used to justify a sonic drilling program over the stockpiles.
On a separate lease package located eight km south of the main Cachinal silver mineralization and 11 km north of Austral Gold’s Guanaco mine, the company plans to extend an existing soil geochemical grid and reprocess existing ground magnetic data with 3-D inversions to aid interpretation of lithology, alteration and structural features in this area.
Cachinal National Instrument 43-101 technical report update
As per the Jan. 20 news release, Aftermath has requested SRK Consulting (Canada) Inc. to revise its previously submitted technical report to address the comments made by the British Columbia Securities Commission.
A part of the revision, the BCSC required the company send an independent qualified person to undertake a property visit. SRK were in the process of travelling to Chile when travel restrictions due to COVID-19 were announced, forcing the trip to be rescheduled. Accordingly, the company will refile the independent SRK technical report once a qualified person can visit Cachinal.
About Cachinal silver-gold project
The company has a definitive agreement with Halo Labs Inc. (formally Apogee Opportunities Inc.) to purchase its 80-per-cent interest in the Cachinal silver-gold project, Chile.
Cachinal is a low-sulphidation epithermal deposit. Shallow drilling has defined the current mineral resources principally to a depth of 150 m below surface and provides sufficient evidence to interpret the presence of high-grade shoots within the vein system extending below the base of a potential open pit. Following these high-grade shoots to depth with drilling will be the initial focus of the company’s efforts to expand the silver-gold mineralization. The oxidation level bottoms at about 120 m to 150 m below surface; however, the down-dip extent of the mineralized structures remains unknown.
The Cachinal silver-gold project is located in Chile’s Antofagasta region (Region II). The project is located about 40 km east of the Pan American Highway, in a nearly flat plain at an elevation of around 2,700 m above sea level, 16 km north of Austral Gold’s Guanaco gold-silver mine.
Qualified person
Peter Voulgaris, MAIG, MAusIMM, a consultant to the company, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.
About Aftermath Silver Ltd.
Aftermath Silver is a Canadian junior exploration company engaged in acquiring, exploring and developing mineral properties with an emphasis on silver in Chile. The company is focused on growth through the discovery and acquisition of quality projects in stable jurisdictions. Aftermath continues to seek new opportunities to take advantage of the relatively low silver price.
We seek Safe Harbor.
Related Posts
Tags
Share This
