Aftermath Silver Reports 156m From Surface of 290g/t Ag, 1.12% Cu and 7.3% Mn In Eastern Zone Step Out
FOR IMMEDIATE RELEASE February 27, 2025
(AAG2025 – NR #06)
Aftermath Silver Reports 156m From Surface of 290g/t Ag, 1.12% Cu and 7.3% Mn In
Eastern Zone Step Out
Vancouver, BC, February 27, 202 5. Aftermath Silver Ltd. (the “Company” or “Aftermath Silver”) (TSX -V:
AAG) (OTCQX: AAGFF) is pleased to provide additional assay results from the Phase 2 diamond drill program
at the Berenguela silver-copper-manganese deposit located in the Department of Puno in southern Peru.
Following up on a historic hole drilled in 2015 (BED006 with an intercept of 123.30 metres, from 28.20m down
hole, of 1.17% copper, 79 g/t Ag, and 11.1% Mn), Aftermath has drilled two step out sections 50m and 100m
east of previous grid drilling in an area designated the Eastern Zone. AFD100, on the first step out section 2250E,
returned the longest copper intercept drilled to date at 156m grading 1.12% Cu, 290 g/t Ag and 7.3% Mn.
AFD100 also returned the two highest Ag assays at Berenguela to date : contiguous samples 51711894 and
51711895 returned 12,354 g/t silver ( 1.24%) over 1.0m and 16,151 g/t silver (1.62% Ag) over 0.95m
respectively, for a result of 1.95m @ 14,252 g/t (1.43% Ag) from 29.30 to 31.25m.
Holes drilled on the 100m step out section 2300E, and reported in this news release, demonstrated the
continuation of mineralisation. Mineralization in the Eastern Zone is relatively elevated in Cu and viewed as a
higher temperature zone, more proximal to a potential intrusive porphyry -style source for the Berenguela
mineralisation. The Eastern Zone is currently being drilled on a 150m eastwards step out section and remains
open at depth. The results included in the current release are for 9 holes from the Phase 2 program of diamond
core drilling which the company has increased to 5,200m. Assay results for the final drill holes from the current
program will be reported in the coming weeks.
Highlights of the current drilling include:
• AFD100 intersected 156m @ 290g/t Ag + 1.12% Cu + 7.3% Mn from surface including 6.9m @ 4,877
g/t Ag + 2.87% Cu + 12.4% Mn from 27.3m down hole;
• AFD100 also intersected 5.35m @ 738g/t Ag + 0.98% Cu + 4.8% Mn from 182m down hole;
• AFD101 intersected 61m @ 55g/t Ag + 1.02% Cu +4.87% Mn from 14.90 m, followed by 5 5.6m @
40g/t Ag + 1.03% Cu + 8. 54% Mn from 96.40m demonstrating consistent high Cu assays over wide
intercepts.
Ralph Rushton, President and CEO, commented “These holes were drilled in the Eastern Zone of the
mineralisation with the goal of following up on a previously drilled high grade copper area to the west. Drilling
in this zone, which hosts mostly inferred resources, was an objective of ours from the outset and we are very
pleased with the results. The polymetallic nature of Berenguela -with silver, copper and manganese being the
major contributors in the mineralisation- certainly positions the company well in the critical metals space.”
Full results are given for 9 holes in the table below and a table of collar coordinates and hole azimuths is
appended at the end of this release . Drill collar plans and cross sections are available at this link:
https://aftermathsilver.com/projects/berenguela/plans-and-sections/
Drilling was carried out at a high angle to mineralization controls and intersections are assumed to equate to true
thickness. Drill sections are available on Aftermath's website (www.aftermathsilver.com) or by clicking here.
The weighted average c ore recovery in the mineralized intersections was 97%. Some lower recoveries were
returned close to surface (0 to 5m) in initial drilling runs, and around some underground workings. The geology
of each hole is summarised at the end of this release.
Table 1. Assay results, holes AFD100 - AFD103, AFD117 – AFD 118, & AFD114 – AFD116
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery
(%) Voids*
Eastern Synform
AFD100 0.00 156.00 156.00 290 1.12 7.29 0.33 99.3
Inc 27.30 34.20 6.90 4877 2.87 12.38 0.43 100.0
Inc 38.60 66.20 27.60 180 1.75 9.97 0.34 100.0
and 172.55 216.50 43.95 140 0.66 3.61 0.36 96.9
Inc 181.15 186.50 5.35 738 0.98 4.81 0.53 100.0
AFD101 14.90 75.90 61.00 55 1.02 4.87 0.19 96.0
Inc 29.50 36.95 7.45 80 1.84 4.51 0.15 94.7
and 96.40 152.40 55.60 40 1.03 8.54 0.27 96.9
Inc 113.20 128.85 15.65 65 1.29 16.94 0.32 89.4
and 167.70 196.95 29.25 86 0.51 3.86 0.37 100.0
AFD102 0.00 23.50 23.50 41 0.92 6.14 0.32 96.2
and 44.35 50.20 5.85 211 1.84 15.12 2.06 59.3
and 57.60 93.60 36.00 65 0.64 3.13 0.53 95.9
AFD103 6.50 42.80 36.30 141 1.24 6.86 0.40 98.6
and 55.40 60.75 5.35 39 0.58 2.07 0.20 99.3
AFD117 0.45 12.55 12.10 177 1.09 5.76 0.64 100.0
and 24.30 30.90 6.60 56 0.30 4.68 0.48 89.0
and 38.70 45.35 6.65 31 0.42 4.54 0.51 100.0
and 48.25 63.20 14.95 62 0.95 4.00 0.23 100.0
and 70.70 131.10 60.40 80 0.77 6.34 0.47 96.6
AFD118 44.10 52.70 8.60 87 1.14 13.20 0.35 97.8
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery
(%) Voids*
and 64.80 119.80 55.00 59 0.65 9.01 0.67 96.9
and 125.90 146.55 20.65 21 0.47 7.13 0.69 98.1
and 150.30 158.55 8.25 49 0.42 5.50 0.73 92.6
North Eastern Limit
AFD114 28.85 35.30 6.45 17 0.26 5.00 0.29 100.0
and 58.35 66.85 8.50 60 0.38 9.18 0.15 100.0
and 78.40 93.40 15.00 145 1.18 8.73 0.17 100.0 1.70
AFD115 2.00 5.60 3.60 9 0.16 9.23 0.53 100.0
and 11.70 45.50 33.80 12 0.28 8.15 0.50 98.9
and 90.65 95.80 5.15 282 0.95 24.13 1.39 94.0
AFD116 6.00 21.50 15.50 11 0.60 2.45 0.21 100.0
and 43.25 96.50 53.25 57 0.65 6.02 0.34 94.9
and 100.25 109.30 9.05 19 0.48 4.83 0.28 100.0
*Reported intersection widths are shorter than total widths drilled where voids due to historic underground mining activity we re
encountered during drilling. Voids were measured and discounted from the intersection width with no dilution of the reported
grades. In AFD114, voids of 1.7m were encountered in areas of underground workings resulting in intersection widths of 13.3m.
Berenguela mining: from 1913 until 1965 approximately 500,000 tons was mined from 17,700m of underground workings and open
pit operations which equates to roughly 1.2% of the 2023 M&I resource inventory . Aftermath obtained complete plans of
underground workings which were incorporated into resource modelling where practical and appropriate and underground mining
depletion subtracted from the mineral resource. All open pits have been surveyed in detail as part of the general site layout that
defines topography and surface mining depletion.
1 The drilling was carried out at a high angle to the stratigraphically controlled mineralization and intersections can be assumed
to equate approximately to true thickness.
Photographs of representative subsamples of the 2 of the highest -grade core samples from hole AFD100
are shown below with their Ag-Cu-Mn assays.
AFD100 samples 51711894 (right image) and 51711895 (left image) returned 12,354 g/t silver (1.24%) over
1.0m, and 16,151 g/t silver (1.62% Ag) over 0.95m respectively. Sample 51711894 29.30 – 30.30m downhole.
Sample 51711895 30.30 – 31.25m downhole. Geology is characteristic Mn oxide replacement of carbonates
associated with Ag and Cu mineralization as commonly observed at Berenguela.
Objectives of Drilling
Holes AFD100 to AFD103 and AFD117 to AFD118 targeted the eastern limit of the existing mineral
resource in an area known as the “eastern synform” and were designed to extend and define the margin of
mineralization whilst converting inferred resources to indicated and/or measured categories where
appropriate. The area was confirmed to be a relatively high Cu area.
Holes AFD114 to 116 were drilled in the far eastern ridge targeting the northeastern limit of the existing
mineral resource. These were designed to extend and define the margin of mineralization whilst converting
inferred resources to indicated and/or measured categories where appropriate.
Geology
The host stratigraphy at Berenguela comprises folded thickly bedded, light grey limestones and dolomitized
limestones. Several large bodies of black massive, patchy, and fracture -controlled manganese oxide
replacement mineralization with associated silver, copper, and zinc enrichment, occur in the folded
limestones. Mineralization largely follows stratigraphy and is typically conserved as eroded synform or
antiform remnants, usually exposed at surface and with fold axes trending 105-120 degrees. Generally, the
limestone is underlain by a transitional arenite unit overlying evaporites in footwall formations. In the area
covered by this release, the eastern margin of mineralization, the arenites and evaporites were not generally
encountered suggesting the limestone sequence is thickening eastward and downfaulted in blocks.
Historical mapping and resource modelling shows the mineralization to extend for roughly 1,300m along
strike - including a previous 100m gap or discontinuity now closed by drilling. The drilling was carried out
at a high angle to the stratigraphically cont rolled mineralization and intersections are approximately true
thickness. The geology of each hole is summarised at the end of this release.
QA/QC
Sample preparation and assaying was carried out in Peru by ALS Peru S.A (“ALS”). ALS preparation
facilities in Arequipa and assaying facilities in Lima both carry ISO/IEC 17205 accreditation. Logging and
sampling were carried out by Aftermath geological staff at the Limon Verde camp in Santa Lucia. Samples
were transported to Arequipa and delivered to ALS for preparation and subsequent assaying of pulps in
Lima.
During the preparation stage, quartz -washing was performed after each sample to prevent carry -over
contamination. Initial assaying was done using a four -acid digestion and ICP -AES multielement analysis
for 31 elements. Over limit samples (Ag > 100 g/t, Mn>8,000 ppm, Cu/Zn >10,000ppm) were reanalysed
using 4 acid-digestion and ore-grade ICP-AES analysis. Any Ag samples reporting >1,500 g/t Ag are further
analysed using fire assay with gravimetric finish. Any Ag samples reporting >10,000 g/t are further analysed
using concentrate assay methods.
A selection of pulps will be submitted to an umpire laboratory to perform check analyses and verify QA/QC
implemented in the project. Every batch of 20 samples submitted for assay contained 1 certified reference
material (CRM), 1 coarse blank, 1 pulp blank and 1 duplicate core sample, OR 2 CRMs, 1 coarse blank, 1
duplicate core sample. Aftermath commissioned OREAS to prepare 3 different CRMs made from samples
of Berenguela mineralization, so they are compositionally matched to the mineralized core. In the assays
performed for this news release , 158 CRMs and 80 coarse blanks were inserted and 4 elements checked
(Ag/Cu/Mn/Zn) – a total of 952 checks in total.
The CRMs generally performed well, and 8 CRM fails were observed in total, most from CRM BER-21-3
which has been previously noted to have a high bias for Cu (3 fails were Cu, 1 Zn) . 2 fails were reported
for low-range Ag (<10ppm) and one for low-range Mn. CRM BER-21-1 has a low bias for its range of 3%
Mn resulting in warnings slightly outside the accepted range. Mid-range Cu CRMs reported to specification
limits. High grade Cu, Mn, and Ag CRMs reported to specification limits. All pulp blanks and coarse blanks
reported to specification limits. 75 duplicate samples were submitted and >80% reported repeat assays with
a difference <25% to original assay.
Drillhole recoveries in the mineralized intersections were 97%.
Qualified person
Michael Parker, a fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent
qualified person, as defined by National Instrument 43-101. Mr. Parker has reviewed the technical content
of this news release and consents to the information provided in the form and context in which it appears.
Berenguela Project: Background
• The Company has an option to acquire a 100% interest in Berenguela through a binding agreement
with SSR Mining.
• Berenguela hosts a potentially open-pittable silver-copper-manganese resource close to Santa Lucia
in Puno province, southern Peru.
• Silver, copper and manganese have crucial industrial applications in the clean energy and battery
spaces. Copper and manganese have been designated critical metals by the US government and the
European Union.
• The project is less than 6km from road, rail and power lines and 4 hours from Arequipa by sealed
road.
• Aftermath published a resource estimate in March 2023 based on over 300 core and RC holes.
• Metallurgical test work is underway adding to historic work, with the goal of producing silver and
copper metal and a commercial battery-grade or fertilizer-grade manganese product.
About Aftermath Silver Ltd.
Aftermath Silver is a leading Canadian junior exploration company focused on the development of critical
metals projects. Aftermath is a preeminent silver development company with significant leverage to copper
and high purity battery grade manganese. The Company’s flagship asset is the Berenguela silver, copper
and manganese deposit located in Southern Peru.
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 securities 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 “ma y”, “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 express ed 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 cause
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 exp loration 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, in cluding 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 e stablishes
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 S ecurities 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.
Table 2. Collar locations, depths, azimuth and dips. Hole AFD117 section line 2200E, Holes AFD100 and
AFD101 section line 2250E, Holes AFD102-3 and AFD115 and AFD118 section line 2300E, Holes
AFD114 and AFD116 section line 2350E
Section
2200E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD117 332592.533 8268281.31 4196.1482 136.2 105 -60
Section
2250E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD100 332654.661 8268387.47 4184.7985 249.6 187 -45
AFD101 332654.734 8268388.38 4184.9824 199.6 187 -65
Section
2300E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD102 332699.937 8268307.26 4128.4119 112.3 7 -45
AFD103 332699.883 8268305.63 4128.4494 100.1 187 -45
AFD115 332737.848 8268478.66 4191.953 129.7 325 -45
AFD118 332705.894 8268423.08 4199.317 192.1 187 -65
Section
2350E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD114 332738.267 8268478.57 4192.0233 142.6 65 -45
AFD116 332737.907 8268479.68 4192.0114 125.9 7 -45
Summary Geology
Hole AFD-100 intercepted 2 zones of mineralisation within intercalating limestone and sedimentary breccias..
Upper mineralisation occurred from surface to 156.00m, characterised by moderate to massive MnO replacement
in intercalated limestone. Two zones of higher mineralisation occurs within the upper zone, first from 27.30m
to 34.20m and second from 38.60m to 66.20m. Lower mineralisation occurs from 172.55m to 216.50m in
moderate to massive MnO replacement and fracture hosted MnO in variably altered intercalated limestone.
Hole AFD-101 intercepted 3 zones of mineralisation, from 14.90m to 75.90m, 96.40m to 152.60m, and 167.70
to 196.95m.. Upper and middle mineralisation is characterised by moderate to massive MnO replacement and
fracture hosted MnO. Lower mineralisation is characterised by moderate MnO replacement. All occur within
intercalating altered limestone and tectonic breccias.
Hole AFD-102 intercepted 2 zones of mineralisation. The upper zone was intercepted from surface to 23.50m,
within intercalated altered limestone and breccias with moderate MnO replacement and fracture hosted MnO.
The lower zone of mineralisation occurs from 57.60m to 93.60m within fracture hosted MnO and minor MnO
massive replacement in limestone.