Aftermath Silver Reports More Surface High Grade Silver and Copper Results
FOR IMMEDIATE RELEASE February 11, 2025
(AAG2025 – NR #04)
Aftermath Silver Reports More Surface High Grade Silver and Copper Results
Vancouver, BC, February 11, 202 5. Aftermath Silver Ltd. (the “Company” or “Aftermath Silver”) (TSX -V:
AAG) (OTCQX: AAGFF) is pleased to provide assay results from its Phase 2 diamond drill program at the
Berenguela silver-copper-manganese deposit located in the Department of Puno in southern Peru.
Results are included for another 23 holes from the planned 60-hole (4,600m) program of diamond core drilling.
Additional holes will be released pending overlimit check assays. Highlights of the current drilling include:
• AFD071 intersected 23.6m @ 319g/t Ag + 2.19% Cu + 17.43% Mn from 2.6m down hole
• AFD109 intersected 27.4m @ 187g/t Ag + 0.97% Cu + 5.13% Mn from surface including an intercept
of 5.6m @ 410g/t Ag + 1.21% Cu + 5.81% Mn from 10.45m downhole.
• AFD111 intersected 10.1m @ 273g/t Ag + 0.90% Cu + 4.11% Mn from surface
Ralph Rushton, President and CEO, commented “We are very pleased with the second batch of results from our
Phase 2 drill program. Holes AFD064 to 077 were geological investigation holes, sited to test a roughly north-
south striking zone of faulting within the mineral resource. Holes 105 to 113 are resource infill holes toward the
eastern side of the resource in an area know n as the east -central anticline which were designed to convert
inferred to measured and indicated resources. They are in line with the previous drilling in this area and will be
incorporated into a revised block model."
Full results are given for 23 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 92%. 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 AFD064- AFD077 & AFD105 - AFD113
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids(m)
*
Central Fault Zone Holes
AFD064 0.00 8.55 7.65 27 0.50 6.92 0.54 61.3 0.9
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids(m)
*
and 21.30 31.90 10.60 34 1.12 1.62 0.11 87.7 -
AFD065 0.00 6.15 4.95 26 0.39 9.98 0.76 90.7 1.2
and 44.40 54.70 10.30 17 0.47 3.89 0.50 100.0 -
AFD066 0.00 7.30 7.30 69 0.91 6.32 0.50 100.0 -
and 19.40 26.10 6.70 95 0.78 11.74 0.89 100.0 -
and 32.10 45.70 12.70 69 1.02 18.43 0.53 100.0 0.9
and 51.10 63.70 11.60 44 0.87 16.34 0.50 100.0 1.0
AFD067 8.20 23.00 13.40 37 0.59 4.83 0.26 100.0 1.4
and 45.00 51.90 6.90 52 0.90 10.65 0.48 100.0 -
AFD068 0.00 8.20 8.20 79 1.34 10.21 0.49 83.3 -
AFD069 0.00 8.40 8.40 76 1.41 11.96 0.54 77.4 -
AFD070 1.80 29.20 27.40 75 0.97 10.42 0.34 95.3 -
AFD071 8.00 31.60 23.60 319 2.19 17.43 0.51 68.3 -
AFD072 2.60 34.20 31.60 63 1.23 15.97 0.55 85.0
Inc 24.30 35.65 7.35 87 1.67 31.30 0.76 94.9 -
AFD073 No significant mineralization -
AFD074 0.00 9.10 9.10 101 0.59 6.30 0.35 51.7 -
AFD075 0.00 10.95 10.95 104 0.57 6.55 0.34 58.0 -
AFD076 0.00 17.80 17.80 118 0.15 1.81 0.11 87.6 -
AFD077 0.00 11.60 11.60 84 0.16 1.31 0.09 69.5 -
Eastern Central Anticline Holes
AFD105 0.00 9.90 9.90 128 1.05 15.07 0.59 86.1 -
AFD106 0.00 12.50 12.50 34 0.88 13.37 0.45 92.9 -
AFD107 0.00 29.40 26.40 32 1.03 9.99 0.34 76.0 3.0
AFD108 0.00 23.20 23.20 163 1.06 3.26 0.41 97.9 -
and 30.70 72.95 42.25 66 0.92 3.68 0.25 100.0 -
and 82.20 101.40 19.20 62 1.00 4.84 0.23 100.0 -
AFD109 0.00 27.35 27.35 187 0.97 5.13 0.60 100.0 -
Inc 10.45 16.05 5.60 410 1.21 5.81 0.67 100.0 -
and 63.00 79.55 16.55 75 0.33 1.82 0.19 100.0 -
AFD110 0.00 24.65 24.65 83 0.85 4.50 0.52 95.3 -
and 31.45 62.50 31.05 56 0.90 6.30 0.43 100.0 -
and 66.50 71.50 5.00 67 0.59 0.75 0.05 100.0 -
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids(m)
*
and 85.65 106.50 20.85 125 0.66 3.55 0.27 96.8 -
AFD111 0.00 10.10 10.10 273 0.90 4.11 0.66 97.2 -
and 36.85 57.00 20.15 139 0.65 4.18 0.48 95.2 -
AFD112 0.00 4.1 4.1 91 0.92 6.81 0.89 100.0 -
AFD113 0.00 41.00 41.00 47 0.50 3.04 0.32 99.3 -
*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 AFD064, voids of 0.9m were encountered in areas of near-surface workings resulting in an intersection width of 7.65m.
In AFD065, a void of 1.2m was encountered in a near-surface workings resulting in an intersection width of 4.95m. In AFD066,
voids of 0.9m and 1.00m were encountered in areas of underground workings resulting in intersection widths of 12.70m and 11.60m
respectively. In AFD067, a void of 1.40m was encountered in a near-surface workings resulting in an intersection width of 13.40m.
In AFD0107, voids 1.5m were encountered in in areas of underground workings resulting in an intersection width of 26.40m.
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.
Objectives of Drilling
Holes AFD064 to AFD077 targeted the transition zone between Domain 1 to the west and Domain 2 to the
east, a structurally complex zone with faulting parallel to section lines. Drilling was designed to aid in the
structural interpretation of the area and increase indicated and/or measured resources where appropriate.
Holes AFD105 to 107 and AFD108 to AFD113 were drilled in the eastern synform and antiform
(respectively) and 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. The limestone
is underlain by a transitional arenite unit overlying evaporites in footwall formations.
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 announced in this release -
with a width of 200 to 400m. The drilling was carried out at a high angle to the stratigraphically controlled
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, 132 CRMs and 30 coarse blanks were inserted and 4 elements checked
(Ag/Cu/Mn/Zn) – a total of 708 checks in total.
The CRMs generally performed well, and 11 CRM fails were observed in total, mostly in the lower ranges
for Zn. No fails were reported for Ag and one for low -range Mn. 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. 61 duplicate samples were submitted and >80% reported
repeat assays with a difference <25% to original assay.
Drillhole recoveries in the mineralized intersections were 92%.
Warrants
The Company is also pleased to announce that 1,314,000 of its outstanding warrants to purchase common
shares of the Company have been exercised since January 1, 2025 for cash proceeds to the Company of
C$459,765. The Company intends to use the net proceeds to complete geological, metallurgical and
engineering studies at the Company’s Berenguela Silver-Copper-Manganese project in southern Peru and
for general working capital purposes.
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 “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 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. Holes AFD064 to AFD077, section lines 1250E,
1350E & 1400E. Holes AFD105 to AFD113, section lines 2100E to 2150E.
Section
1250E
Hole WGS84 X WGS84 Y WGS Z DEPTH
(m) AZ DIP
AFD076 331607.3441 8268210.085 4206.2111 29.8 0 -90
AFD077 331607.2724 8268209.107 4206.155 30.8 7 -50
Section
1350E
Hole WGS84 X WGS84 Y WGS Z DEPTH
(m) AZ DIP
AFD070 331725.404 8268281.76 4218.5435 56 0 -90
AFD071 331725.5294 8268282.542 4218.6346 60 7 -60
AFD072 331725.5439 8268281.483 4218.5484 46 187 -60
AFD073 331720.4779 8268241.608 4215.2648 24.6 0 -90
AFD074 331715.0599 8268190.361 4210.0409 25.1 7 -60
AFD075 331715.1359 8268191.357 4210.0868 23.2 187 -60
Section
1400E
Hole WGS84 X WGS84 Y WGS Z DEPTH
(m) AZ DIP
AFD064 331776.6633 8268285.579 4230.7824 65 0 -90
AFD065 331776.6526 8268284.914 4230.7199 61.1 7 -50
AFD066 331776.7977 8268286.728 4230.6222 81.9 187 -60
AFD067 331771.372 8268234.541 4229.3803 67.8 0 -90
AFD068 331764.9609 8268187.604 4220.8784 27.7 0 -90
AFD069 331765.0514 8268188.669 4220.9433 28.4 7 -50
Section
2100E
Hole WGS84 X WGS84 Y WGS Z DEPTH
(m) AZ DIP
AFD105 332477.5394 8268091.629 4175.538 21.9 7 -45
AFD106 332477.4533 8268091.075 4175.5262 27.75 0 -90
AFD107 332477.5922 8268092.746 4175.6221 44 187 -45
AFD110 332484.7808 8268266.967 4225.5892 129.2 7 -75
AFD111 332484.7865 8268267.631 4225.5746 73.1 187 -60
AFD112 332478.927 8268193.877 4200.8354 61 0 -90
AFD113 332478.8923 8268192.675 4200.8326 41 187 -50
Section
2150E
Hole WGS84 X WGS84 Y WGS Z DEPTH
(m) AZ DIP
AFD108 332530.614 8268283.527 4219.7409 138.5 7 -70
AFD109 332530.6619 8268283.635 4219.7504 83.9 187 -60
Summary Geology
Hole AFD-064 intercepted two zones of mineralization. The upper mineralization occurs from surface to 8.55m
with patchy MnO replacement and MnO in fractures in altered intercalated silts and sedimentary breccias. A
void of 0.9m in the upper zone is associated with historic mining. Lower mineralization occurs from 21.30m to
31.90m with patchy MnO replacement. Contact to footwall evaporites occurs at 59.60m.
Hole AFD-065 intercepted two zones of mineralization. Upper mineralization occurs from surface to 6.15m,
characterised by moderate to massive MnO replacement of altered limestone. Limestone is intercalated with
tectonic breccias downhole. A v oid of 1.20m occurs in upper mineralization zone, associated with historic
mining. Lower mineralization occurs from 44.40m to 54.70m characterised by moderate patchy MnO
replacement in altered limestone. End of hole (EOH) occurs within tectonic breccia at 61.10m.
Hole AFD-066 intercepts 4 zones of mineralization in limestone with minor siltstone, characterised by massive
MnO replacement and fracture hosted MnO. Upper mineralization occurs from surface to 7.30m, with a 0.90m
void associated with historical mining. The second zone of mineralization occurs from 19.40m to 26.10m. The
third mineralization intersection occurs from 32.10m to 45.70m, with 0.90m void from historic mining. Some
ferruginous alteration of limestone occurs. The l ower mineralization occurs at 51. 10m with a 1.00m void
associated with historic mining.
Hole AFD-067 intercepts 2 zones of mineralization. The upper mineralization is intercepted from 8.20m to
23.00m, characterised by moderate to massive MnO in weakly altered limestones and sedimentary breccias. A
1.40m void within the intersection is associated with historic mining. Lower mineralization occurs from 45.00m
to 51.90m, characterised as massive MnO replacement and joint filled MnO replacement in variably altered
limestone. Contact with underlying footwall evaporites is intercepted at 63.40m.
Hole AFD-068 intercepts mineralization from surface to 8.20m characterised by moderate to massive MnO
replacement and minor fracture hosted MnO replacement of altered limestone. Limestone is underlain by
transitional red arenite from 9.20m and contact with footwall evaporites occurs at 15.00m.
Hole AFD-069 intercepts mineralization from surface to 8.40m characterised by moderate to massive MnO
replacement and minor fracture hosted MnO replacement of altered limestone. Limestone is underlain by
transitional red arenite from 9.40m and contact with footwall evaporites occurs at 15.90m.
Hole AFD-070 intercepts mineralization f rom 1.80m to 29.20m characterised by moderate to massive MnO
replacement and fracture hosted MnO in altered limestone. Altered limestone is underlain by transitional red
arenites from 35.40m and contact with footwall evaporites occurs at 42.90m. Unmineralise d limestone and