Aftermath Silver Announces Resource Estimate for Cachinal Silver-Gold Project and Filing of Amended and Restated NI 43-101 Technical Report
FOR IMMEDIATE RELEASE September 16, 2020
(AAG2020 – NR #15)
Aftermath Silver Announces Resource Estimate for Cachinal Silver-Gold Project
and Filing of Amended and Restated NI 43-101 Technical Report
Vancouver, BC, September 16, 2020 – Aftermath Silver Ltd. (the “Company” or “Aftermath Silver”) (TSX-
V: AAG) (OTCQB: AAGFF) is pleased to provide the results of a CIM compliant Mineral Resource estimate for
the Cachinal silver-gold project, in Chile, summarised in Table 1.
The Company also wishes to advise that an amended and restated technical report entitled “Amended
Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile” with an effective date of
September 11, 2020 has been filed under the Companies profile on SEDAR. The Mineral Resource estimate
was performed by independent qualified person s Glen Cole P.Geo of SRK Consulting (Canada) Inc., and
Sergio Alvarado Casas, CMC of Geoinvest SAC E.I.R.L. (Chile).
The Amended and Restated Technical Repo rt was prepared in accordance with the Canadian Securities
Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)
Table 1. Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold Project
Classification Material type Tonnes
(Mt)
Silver
(g/t)
Gold
(g/t)
Silver
(Moz)
Gold
(Koz)
Indicated
Open Pit 4.83 97 0.13 15.03 20.05
Underground 0.22 182 0.22 1.29 1.65
TOTAL 5.05 101 0.13 16.32 21.70
Inferred
Open Pit 0.17 73 0.07 0.41 0.43
Underground 0.36 180 0.19 2.07 2.18
TOTAL 0.53 145 0.15 2.48 2.61
Notes on the Cachinal Mineral Resource Estimate
• For full details on the Cachinal Mineral Resource estimate please refer to the NI 43-101 technical report
titled “Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile.” By Qualified
Persons G. Cole, (P.Geo) of SRK Consulting (Canada) Inc and S. Alvarado Casas, of Geoinvest SAC E.I.R.L.
(Chile), dated September 11, 2020 with an effective date of August 10, 2020, filed on the Aftermath Silver
SEDAR profile.
• Cachinal mineral resources were classified according to the CIM Definition Standards for Mineral
Resources and Mineral Reserves (May 2014).
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
• All figures have been rounded to reflect the relative accuracy of the estimates.
• Cut-off grades are based on metal price assumptions of US$22.00 / ounce of silver and US$1,550 / ounce
of gold, and metallurgical recoveries of 85% for both silver and gold using milling and cyanide leaching.
• The portion of the Mineral Resources that has been determined to be amenable to extraction through
Open Pit methods uses a cut-off’s of 30 g/t Silver equivalent.
• The open pit Mineral Resource is constrained within Lerchs-Grossman optimised pit shells that assume
mining dilution & losses of 2.5%, 50-degree overall slope angles, mining costs of $2/t rock, general and
administrative costs of $2/t rock, processing costs of US$15/t for processing using milling and cyanide
leaching.
• The portion of the Mineral Resources deemed to be amenable to extraction through underground
methods are reported at a cut-off of 150 g/t Silver Equivalent. This assumes a mining cost of US$90/t,
general and administrative costs of $2/t and a processing costs of US$15/t for agitated leaching.
The amended and restated Technical Report includes additional disclosure in the areas of the assumed
metal prices, and the mining, general, administrative and processing costs used to establish the cu t-off
grades. It also includes the results of recent sit visit and other data verification steeps.
Ralph Rushton, President and CEO of the Company, commented “We're pleased to be able to release this
current resource for Cachinal. We were fortunate to have been able to work with Chilean based
independent QP, Sergio Alvarado Casas, who was able to conduct the site visit as Chilean COVID19 restrictions
have eased in some areas. As soon we're able to , the Company will commence field work on both the
Cachinal and Challacollo projects. Planning for this is well advanced.”
About Cachinal Silver-Gold Project
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.
Aftermath Silver currently owns 80% interest in the Cachinal silver-gold project, through its Chilean holding
company Minera Cachinal S.A. Aftermath has a binding agreement with SS R Mining to acquire the
remaining 20%. (See Company news release dated May 27th, 2020).
Cachinal is a low-sulphidation epithermal deposit. The epithermal veins and breccias have been recognized
by mapping, trenching and over 37,000 metres of drilling. Cach inal has a strike length of at least two
kilometres. Historic mining is known to have occurred to a depth of at least 300 metres. The main veins
trend north-northwest and north -west with a secondary set trending east -northeast to east-west, most
strongly developed at the southern end of the deposit. The current Mineral Resources are demonstrated
to a depth of approximately 150 m below surface and provide sufficient evidence to interpret the presence
of high-grade shoots within the vein system extending below the base of the optimised pit shells.
About Aftermath Silver Ltd
Aftermath Silver is a Canadian junior exploration company. Aftermath offers investors silver -focused
development opportunities in Chile and Peru, two of the world's top mining and silver jurisdictions. Aftermath
has assembled the right combination of talent, properties, strategy, risk management and marketing for
investors seeking quality silver opportunities in today's precious metal markets. Aftermath's leadership is
recognized for value generation and corresponding shareholder success.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
“Ralph Rushton”
Ralph Rushton
CEO and Director
604-484-7855
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain of the statements and information in this news release constitute “forward-looking information” within
the meaning of applicable Canadian provincial securi ties laws. Any statements or information that express or
involve discussions with respect to interpretation of exploration programs and drill results, predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not
always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”,
“estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”,
“schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be forward-looking statements or information.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such forward‐looking statements. Although the
Company believes the expectations expres sed in such forward‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments
may differ materially from those in the forward‐looking statements. Factors that could c ause actual results to
differ materially from those in forward‐looking statements include, but are not limited to, changes in
commodities prices; changes in expected mineral production performance; unexpected increases in capital
costs; exploitation and exploration results; continued availability of capital and financing; differing results and
recommendations in the Feasibility Study; and general economic, market or business conditions. In addition,
forward‐looking statements are subject to various risks, i ncluding but not limited to operational risk; political
risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the
Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors,
accessible through Aftermath Silver’s profile at www.sedar.com.
There is no certainty that any forward‐looking statement will come to pass and investors should not place undue
reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the
forward‐looking statements in this release, except as required by law.
Cautionary Note to US Investors - Mineral Resources
This News Release has been prepared in accordance with the requirements of Canadian National Instrument 43-
101 - Standards of Disclosure for Mineral Projects (''NI 43 -101'') and the Canadian Institute of Mining,
Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI
43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public
disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public
disclosure standards, including NI 43 -101, differ significantly from the requirements of the United States
Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral
reserve and resource information contained or referred to herein may not be comparable to similar information
disclosed by U.S. companies.