Aftermath Silver Reports Near Surface High Grade Silver and Copper Results
FOR IMMEDIATE RELEASE January 30, 2025
(AAG2025 – NR #03)
Aftermath Silver Reports Near Surface High Grade Silver and Copper
Results
Vancouver, BC, January 30, 2025. 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 located in the Department of Puno in
southern Peru. Results are included for 22 holes from the planned 60-hole (4,600m) program of
diamond core drilling. Additional holes to be released pending overlimit check assays.
Highlights of the current drilling include:
• AFD078 intersected 9.1m @ 447g/t Ag + 1.85% Cu + 17.96% Mn from surface
• AFD082 intersected 15.3m @ 439g/t Ag + 1.81% Cu + 4.2% Mn from 12.8m downhole
within a broader intercept of 30m @ 269g/t Ag + 1.81% Cu + 5.85% Mn from 12.8m
downhole.
Ralph Rushton, President and CEO, commented “We are very pleased with the results of the
latest drilling. This program ha d several objectives including converting Inferred Resources to
Measured and Indicated ; testing key geological structures and also stepping out from historic
high-grade intercepts (which will be reported in a coming news release). The current results have
enabled us to extend mineralization westward and southward and should add new resources in
previously undrilled areas. The high copper grades that accompany silver in the latest western
drilling further confirm Berenguela’s polymetallic nature”.
Full results are given for 22 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. All the current holes intercepted mineralization
from surface with the exception of hole AFD083. 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.
Table 1. Assay results, holes AFD078 - AFD099
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids*
Western resource limit: resource extension and infill holes
AFD078 0.00 9.10 9.10 447 1.85 17.96 0.62 97.0 -
AFD079 0.00 6.00 6.00 407 1.93 11.90 0.43 77.0 -
AFD080 0.00 59.45 59.45 114 0.90 3.95 0.10 100 -
Inc. 38.10 59.45 21.35 212 1.18 3.17 0.07 -
AFD081 0.00 5.40 5.40 130 0.99 3.87 0.14 88.6 -
And 32.20 45.65 13.45 395 0.74 0.85 0.06 -
Inc. 37.80 44.45 6.65 695 0.80 0.67 0.05 -
AFD082 0.00 30.00 30.00 269 1.15 4.21 0.21 95.5 -
Inc. 12.80 28.10 15.30 439 1.81 5.85 0.28 -
And 36.55 41.90 5.35 107 0.51 0.90 0.06 99.2 -
AFD083 13.20 19.20 6.00 63 0.08 0.46 0.03 100.0 -
AFD084 0.00 5.70 5.70 61 0.04 0.55 0.05 84.0 -
AFD085 0.00 6.00 6.00 82 1.79 14.43 0.29 100.0 -
AFD086 0.00 3.00 3.00 36 0.77 8.95 0.27 67.6 -
AFD087 0.00 8.40 8.40 54 1.16 15.39 0.41 83.4 -
Southern Keel Zone: resource extension holes
AFD088 0.00 23.40 23.40 102 0.53 5.79 0.19 92.3 -
AFD089 0.00 14.60 14.60 131 0.93 10.59 0.29 71.5 -
AFD090 1.00 15.10 14.10 75 1.00 8.72 0.27 100.0 -
AFD091 0.00 7.70 7.70 145 0.87 14.36 0.40 82.8 -
AFD092 0.00 13.10 5.60 80 0.66 10.60 0.29 92.0 7.50
AFD093 0.00 19.35 17.55 77 0.67 9.57 0.26 92.5 1.80
AFD094 0.00 12.00 10.50 44 0.74 17.04 0.33 65.6 1.50
AFD095 0.00 10.40 10.40 39 0.89 15.83 0.34 92.4 -
AFD096 0.00 15.60 15.60 44 0.82 9.84 0.25 98.1 -
AFD097 0.00 11.80 10.40 56 1.12 11.57 0.33 79.5 1.40
AFD098 0.00 6.30 6.30 46 0.70 10.93 0.37 100.0 -
Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids*
AFD099 0.00 8.30 8.30 36 0.88 15.58 0.32 100.0 -
*Reported intersection widths are shorter than total widths drilled where voids due to historic underground mining
activity were encountered during drilling. Voids were measured and discounted from the intersection width with no
dilution of the reported grades. In AFD092, voids of 7.50m were encountered in areas of surface workings resulting in
an intersection width of 5.60m. In AFD093, a void of 1.80m was encountered in a near-surface intersection resulting in
an intersection width of 17.55m. In AFD094, a void of 1.50m was encountered in near-surface mineralization adjacent
to old workings resulting in an intersection width of 10.50m. In AFD097, a void of 1.40m was encountered resulting in
an intersection width of 10.40m. 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 AFD078 to AFD087 targeted the western limit of the existing mineral resource and were
designed to extend and define the margin of mineralization whilst converting inferred resources
to indicated and/or measured categories where appropriate.
Holes AFD088 to AFD099 were drilled in an area known as the southern "keel" zone and cut
mineralization largely beyond the southwest limit of the existing resource. The southern keel is
interpreted to be the remnants of a synform detached from the main Berenguela mineralization
by faulting. The majority of the mineralization intersected in the southern keel is not included in
the existing mineral resource.
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 limesto ne 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 100m gap or discontinuity which was drill tested in the current program
- with a width of 200 to 400m. The drilling was carried out at a high angle to the stratigraphically
controlled mineralization and intersections can be assumed to approximate to true thickness.
The western edge of the mineralization has been shown to be a complex area with folded and
faulted contacts that juxtapose high -grade mineralization against barren limestone and footwall
units. Copper mineralization in the western edge, where encountered, is relatively high-grade. It
should be noted that topography causes the mineralization to be cut off to the west as the footwall
formations crop out westwards. The southern keel is also notable for relatively high Cu and Mn
grades encountered from surface in the holes.
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 st aff 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, 70 CRMs and 36
coarse blanks were inserted and 4 elements checked (Ag/Cu/Mn/ Zn) – a total of 424 checks in
total.
5 CRM fails were observed in total, most from CRM BER-21-3 which has been previously noted
to have a high bias for Cu (all 3 fails were Cu). Other 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. 37 duplicate samples were submitted and >80% reported
repeat assays with a difference <25% to original assay.
Drillhole recoveries in the mineralized intersections averaged 92%.
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 Ltd. is a leading Canadian junior exploration company focused on silver, and
aims to deliver shareholder value through the discovery, acquisition and development of quality
silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various
stages of advancement. The Company's projects have been selected based on growth and
development potential.
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”, “anti cipates”, “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 expressed 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 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, including 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 Cana dian
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.
Table 2. Collar locations, depths, azimuth and dips. Holes AFD078 to AFD099, section lines
900E to 1050E
Section 900E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD097 331277.8868 8268212.38 4166.8555 22.1 0 -90
AFD098 331277.9902 8268213.692 4166.7244 21.4 187 -50
AFD099 331277.7049 8268210.997 4166.8913 19.2 7 -50
Section 950E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD078 331348.8235 8268382.359 4149.9229 20.7 0 -90
AFD079 331348.7151 8268381.373 4149.9806 22.1 187 -50
AFD080 331329.0124 8268338.024 4149.5191 75.1 0 -90
AFD081 331328.8725 8268336.669 4149.27 52.1 187 -50
AFD082 331328.9115 8268338.629 4149.5017 62.5 7 -60
AFD083 331328.4658 8268283.344 4158.0752 53.7 0 -90
AFD084 331328.0393 8268283.766 4158.0457 20.5 187 -50
AFD085 331329.105 8268235.972 4163.6631 28.9 0 -90
AFD086 331328.8957 8268235.308 4163.6687 28.4 187 -50
AFD087 331328.9821 8268234.794 4163.6904 20.4 7 -50
AFD094 331318.0818 8268193.965 4172.5568 44.3 0 -90
AFD095 331317.9865 8268193.514 4172.5693 37.7 187 -50
AFD096 331317.8267 8268192.729 4172.5843 29.9 7 -50
Section
1000E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD091 331364.6482 8268169.161 4178.3966 23.7 0 -90
AFD092 331364.6581 8268169.512 4178.4486 24.7 187 -50
AFD093 331364.6302 8268168.396 4178.1879 34.6 7 -50
Section
1050E
Hole WGS84 X WGS84 Y WGS Z DEPTH (m) AZ DIP
AFD088 331410.5833 8268148.216 4187.6651 45.7 0 -90
AFD089 331410.5353 8268147.664 4187.6133 29.1 187 -60
AFD090 331410.5521 8268147.429 4187.5885 26.3 7 -50
Summary Geology
Hole AFD -078 intercepted mineralization from surface to 9.10m with patchy MnO replacement.
Underlain by red arenite. End of hole (EOH) at 20.7m
Hole AFD -079 cut mineralization from surface to 6m in limestone characterised by patchy MnO
replacement. Mineralization underlain by tectonic breccias. Arenites drilled from 12.25m with footwall
evaporites underlying at 20.3m.
Hole AFD -080 intercepted mineralization from surface to 59.45m consisting of intercalations of
massive MnO replacement and MnO in fractured and brecciated limestones. From 38.10m to 59.45m
mineralization characterized by MnO along fractures and pervasively along joint s. Hole ends in
unmineralized intercalated limestones and sedimentary breccias.
Hole AFD-081 cut 2 zones of mineralization (from surface to 5.40m and from 32.30 to 45.64m). The
upper mineralized zone occurs in altered limestone with MnO in fractures. From 5.40m to 32.30m is
altered limestone intercalated with sedimentary breccias, with second mineralization occurring from
32.30m with MnO in fractures and includes a more ferruginous tectonic breccia from 37.80m to 44.45m
which is highly mineralized in silver (695 g/t).
Hole AFD-082 intercepted 2 zones of mineralization (surface – 30.00m and 36.55m – 41.90m). The
upper mineralized zone is characterised by intercalations of moderate MnO replacement in fractures
and massive MnO replacement within interbedded limestones and sedimentary breccias. Higher
mineralization values in the upper mineralized zone between 12.80m to 28.10m associated with more
massive MnO replacement of the host limestone and breccias. The lower mineralized zone is hosted
in altered limestone with MnO in joints and fractures.
Hole AFD-083 intercepted mineralization from 13.20m to 19.20m characterised by MnO in limestone
fractures. From 19.20m intercalated arenites and tectonic breccias occur with minor limestone, in
contact with footwall formations at 44.90m.
Hole AFD-084 intercepted mineralization from surface to 5.40m, characterised by limestone with MnO
in fractures, with intercalated altered limestone and sedimentary breccias forming the footwall.
Hole AFD-85 intercepted mineralization from surface to 6.00m in altered limestone dominated by
massive MnO replacement and yellow alteration associated with MnO replacement in fractures.
Transitional arenites and evaporites is encountered beneath mineralization from 7.70m.
Unmineralized limestone occur from 16.70m.
Hole AFD-086 i ntercepted mineralization from surface to 3.00m characterised by moderate MnO
replacement of host altered arenite and limestone, and MnO in fractures. Intercalating red arenite and
minor limestone continues downhole.
Hole AFD-087 intercepted mineralization from surface to 8.40m characterised by altered limestone
replaced by moderate MnO replacement. Underlying barren limestone transitions to red arenite at
15.95m.