First Andes Silver Successfully Intercepts San Jorge Epithermal Vein in First Drill Hole Completed to Target Depth at Santas Gloria Project, PERU
FIRST ANDES SILVER SUCCESSFULLY INTERCEPTS SAN JORGE EPITHERMAL VEIN IN FIRST DRILL HOLE
COMPLETED TO TARGET DEPTH AT SANTAS GLORIA PROJECT, PERU
Vancouver, British Columbia, July 2, 2025 – FIRST ANDES SILVER LTD. (TSXV: FAS; OTC Markets: MSLVF;
FSE: 9TZ0) (the “Company” or “First Andes”) today announced field logging and interpretation results from
the first diamond drill hole completed to target depth , SG017, as part of its ongoing 2,000 -meter (“m”)
drill program at the Company’s 100%-owned Santas Gloria Project (“Santas Gloria” or the “Project”),
located approximately 55 kilometres east of Lima, Peru.
Key Point Summary
• Drill hole SG017 at the San Jorge V ein (“San Jorge”) intercepted a broad zone of sulphide -
mineralized hydrothermal breccia from 136.60 to 194.20 m (57.60 m drilled width), characterized
by strong silicification, argillic alteration and local sericitic alteration.
• Sulphide mineralization is present throughout the interval, with pyrite as the dominant mineral,
reaching concentrations of up to 20%, accompanied by local galena, sphalerite, barite and
tetrahedrite.
• Sulphidic mineralization intensifies from 162.00 m, with significant occurrences of galena and
sphalerite, along with barite and tetrahedrite crystals associated with quartz veins.
• The m ost intense brecciation occurs from 147.00 to 179.80 m, where the breccia features a
strongly argillic altered matrix, silicified clasts, and mineralized veins with pyrite, galena, and
sphalerite.
• A semi-massive interval of galena mineralization up to approximately 15 centimeters (“cm”) in
width was intercepted at 179.90 m which included up to 20% pyrite and barite, as well as locally
euhedral sphalerite crystals.
• Field observations and logging from SG017 confirm the presence of a robust, polymetallic -
mineralized intermediate sulphidation hydrothermal system at depth, which remains open in all
directions.
• The program’s first hole, SG016, did not reach target depth after intercepting a void at 77.00 m,
with alteration and mineralization commenc ing at 74.70 m, suggesting the onset of the
epithermal zone – four samples totalling 2.60 m were submitted for assay. The void was likely the
result of small scale artisanal miners stoping a near-surface mineralized vein.
• A total of 50 HQ-diameter core samples (half-core) totalling 43.00 m were collected and submitted
from drill hole SG017 to Alfred H. Knight Group (“AHK Group”) laboratory in Lima, Peru for assay,
with initial results expected in 3 to 4 weeks.
“The intersection of a broad, sulphide -rich hydrothermal breccia in SG017 marks a significant
breakthrough in the geological model at Santas Gloria,” stated Colin Smith, CEO and Director of First
Andes Silver. “The intensity of hydrothermal alteration, the presence of semi -massive galena and
sphalerite, and the occurrence of pervasive polymetallic sulphide mineralization all suggest that vectoring
into the core of a well -preserved, fertile sulphide system. With a vertical intercept depth of 125 and 170
meters, this drill test represents the deepest recorded intersection of epithermal mineralization in the
Project’s history. These results further underscore the scale and continuity of the San Jorge system, and we
look forward to receiving assay results to evaluate the grade profile of this promising, open- ended
mineralized zone.”
Drill Hole SG017
Drill hole SG017, completed at the San Jorge Vein target within the Santas Gloria Project, intersected a
substantial zone of sulphide-bearing hydrothermal breccia between 136.60 and 194.20 m downhole. This
mineralized interval is characterized by intense hydrothermal alteration, including pervasive silicification
and argillic overprinting, with localized zones of sericitic alteration, indicative of a high-temperature fluid
regime and fully-intact intermediate sulphidation epithermal system.
Sulphide mineralization is present throughout the breccia, with pyrite as the dominant phase , reaching
concentrations of up to 20%. Accompanying the pyrite are variable but notable occurrences of galena,
sphalerite, barite, and tetrahedrite. From approximately 162.00 metres, the intensity of sulphidic mineral
increases, with enhanced concentrations of galena and sphalerite alongside barite and tetrahedrite
crystals commonly observed within quartz veinlets.
The most texturally intense brecciation spans a core interval from 147.00 to 179.80 m , marked by a
strongly argillic matrix, angular clasts exhibiting silica replacement, and a network of mineralized veinlets
hosting pyrite, galena, and sphalerite. At 179.90 m, the hole intercepted a semi- massive galena-rich
interval up to 15 centimetres wide, featuring abundant pyrite and barite, along with locally euhedral
crystals of sphalerite – a visually impressive and geologically significant zone.
Geological logging and field interpretation confirm that SG017 has intersected a robust, multiphase
polymetallic hydrothermal system at depth which remains open in all directions, highlighting a strong
potential for further expansion in subsequent drilling.
Figure 1: Plan map of ongoing 2025 drill program at San Jorge.
Figure 2: Cross section of SG017.
Table 1: SG017 zone description and core photographs (136.60 to 194.20 m).
Depth (m) Core Photo Description
Box # 51
From 136.60
To 139.20
-137.40 m: sericitic alteration in
the rock, with trace pyrite (“Py”)
Box # 52
From 139.10
To 141.60
-139.70 m: Py increase to 1%
with an increase silicification
-149.70 m: oxidization and
silicification increases
Box # 53
From 141.60
To 144..30
-142.90 m: increase of Py
mineralization to 1%
Box # 54
From 144.30
To 147.00
-146.20 m: oxidization increases
again, Py mineralization remains
Box # 55
From 147.00
To 149.70
-147.60 m: brecciation with
argillic and silicic alteration
-148.70 m: brecciation ends with
Py mineralization remaining at
1%
Box # 56
From 149.70
To 152.45
-150.35 m: fractures with sericite
and sphalerite (“Sph”)
Box # 57
From 152.45
To 155.20
-153.60 m: oxidized breccia, 50°
core axis with argilized matrix
and silicified clasts (Py >1% in
the clasts)
-154.70 m: vein filed with
sulphides, Py >1% and quartz
(“Qtz”)
Box # 58
From 155.20
To 158.00
The matrix is argilized and the
clasts silicified. Py >1% in the
clasts.
Box # 59
From 158.00
To 160.80
The matrix is argilized and the
clasts silicified. Py >1% in the
clasts.
Box # 60
From 160.80
To 163.40
-162.15 m: The breccia ends,
dacite light gray, silicificated, still
with Py >1%
-162.50 m: Py increases to 5%
-163.25 m: oxidized zone,
medium argillic alteration
Box # 61
From 163.40
To 166.30
-163.68 m: silicified rock and
gray color again, Py still 5%
-166.00 m: breccia texture with
Qtz veins
Box # 62
From 166.30
To 169.10
-167.10 m: Py 3%, galena (“Gal”)
1%, Sph 1%
-168.05 m: Py 1%, Sph 1% with
argillic alteration
Box # 63
From 169.10
To 171.75
Breccia starts with Qtz vein. Py
1%, Sph 1% with argillic
alteration
Box # 64
From 171.75
To 174.45
-173.80 m: Gal increase at 5%
disseminated in the Qtz vein,
barite and tetrahedrite crystals
present, < 1%
Box # 65
From 174.45
To 176.95
-175.10 m: argillic alteration with
Py 5%, gal 2% and Sph < 1%
-176.86 m: vein filled with
sulphides, Py 10%, Gal 1%, Sph <
1%
Box # 66
From 176.95
To 179.50
-178.50 m: Py 7% in the matrix,
Sph < 1%
-179.20 m: Qtz vein forming
cavities with Py 2%, gal 1% and
barite
Box # 67
From 179.50
To 182.20
-179.90 m: vein with Gal, Sph
crystal, Py 20% and barite. 2-3
cm of thickness and 15 cm of
length
-180.20 m: The breccia ends at
30° core axes.
Start footwall rock with Py 1%
Box # 72
From 192.60
To 194.20
-193.60 m: Qtz vein with
sulphides and Py 5% and gal
traces, entering footwall
sequence
Some core intervals were strongly oxidized and represents a supergene effect, whereby surficial
groundwaters percolate down structures, resulting in oxidation of sulphides. Intermediate sulphidation
epithermal deposits are mined throughout central Peru, and have demonstrated vertical extents in excess
of 600 metres. Deeper drilling at Santas Glorias should encounter sulphide only mineralization.
Quality Assurance / Quality Control (“QA/QC”)
The Company follows industry -recognized standards of Best Practice and QA/QC. HQ -diameter core
samples are sawed into equal halves, and selected ½ core samples are submitted to AHK Group in in Lima,
Peru, a market-l eading provider of inspection and analysis services which maintains rigorous quality
standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO
9001. C ore samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody,
for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits.
All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%.
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 British Columbia company that holds a 100% interest in the high- grade Santas
Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has
excellent established road access, and is situated within a well-known intermediate sulphidation
epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been
historically drilled or explored by modern techniques before 2024. First Andes’ maiden diamond drill
program last year reported high -grade silver grades on all drilled vein systems confirming silver
endowment and warranting high priority follow-up drilling in 2025.
For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: [email protected]
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 gu arantees 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.
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.