% Cu At Berenguela Ag-Cu-Mn Project, Peru. Phase 1 Drill Program Complete.
*FOR IMMEDIATE RELEASE May 19, 2022
(AAG2022 – NR #6)
Aftermath Silver Intersects 56.70m @ 254g/t Ag + 1.21% Cu Including 8m @ 804 g/t Ag + 0.45
% Cu At Berenguela Ag-Cu-Mn Project, Peru.
Phase 1 Drill Program Complete.
Vancouver, BC, May 19, 2022. Aftermath Silver Ltd. (the “Company” or “Aftermath Silver”) (TSX-V: AAG)
(OTCQX: AAGFF) is pleased to provide additional assay results from diamond drilling at the Berenguela
Ag-Cu-Mn project located in the Department of Puno, in southern central Peru . The Company has an
option to acquire a 100% interest in the project from SSR Mining (see AAG news release dated October
21, 2020). Aftermath has been drilling at Berenguela since December, 2021 and is planning to advance
the project through a pre-feasibility study (see AAG news release dated December 7, 2021).
A total of 6,168.15m in 63 diamond core holes has been drilled to date which completes the phase 1
diamond drilling program. The Company released assays for the first 6 holes of the current drill program
on May 4, 2022.Full results are given for the next 14 holes are in the table below. Highlights include:
• 8m at 804 g/t Ag and 0.45% Cu in hole AFD-020 from 56.5m downhole,
• a high-grade copper intercept in hole AFD -010 which returned 5.15m @ 5.03% Cu from 58.90m
downhole.
In 5 holes Ag -Cu mineralisation was intercepted from surface and the majority of the holes cut Ag-Cu
mineralization within 10m of surface. A description of the sampling and assay protocol and QA/QC
program is included below, and a table with collar coor dinates, dips and azimuths for holes AFD -006 to
AFD-020 and a collar plan and cross sections can be downloaded here .
(https://aftermathsilver.com/site/assets/files/5761/may-19-2022-plan-and-sections.pdf)
Hole From (m) To (m) Width1 2 (m) Ag g/t Cu % Mn % Zn %
AFD-006 8.50 31.2 21.10* 164 1.59 14.2 0.44
and 59.80 78.40 18.60 77 0.46 4.2 0.24
AFD-007 0.00 12.40 9.40* 424 1.83 12.1 0.52
and 17.00 30.85 13.85 79 0.73 13.4 0.92
and 38.75 76.50 33.25* 266 1.01 10.2 0.52
inc 52.95 64.65 7.20* 580 2.01 8.4 0.35
AFD-008 2.30 10.00 7.70 202 0.86 15.1 0.71
and 50.80 65.75 13.15* 137 1.03 13.3 0.45
and 82.90 98.55 15.65 41 0.78 14.6 0.38
AFD-010 0.00 28.85 27.80* 57 1.10 5.7 0.24
Hole From (m) To (m) Width1 2 (m) Ag g/t Cu % Mn % Zn %
55.90 66.05 10.15 65 2.97 15.9 0.32
inc 58.90 64.05 5.15 70 5.03 13.9 0.19
AFD-011 0.00 33.60 31.90* 65 0.64 13.7 0.45
and 68.25 81.55 13.30 66 0.72 6.8 0.31
AFD-012 0.00 13.80 13.80 113 0.21 2.3 0.13
and 22.80 31.45 7.80* 91 0.59 5.7 0.18
AFD-013 0.00 8.55 8.55 96 0.16 2.3 0.15
and 13.05 34.25 20.10* 81 0.22 3.0 0.12
AFD-014 9.40 46.35 31.00* 177 1.22 9.1 0.46
AFD-015 11.15 56.40 40.85* 269 1.08 13.6 0.51
inc 11.15 23.50 11.55* 462 1.00 17.9 0.77
inc 37.50 41.40 3.90 613 2.24 18.3 0.35
AFD-016 0.00 55.50 51.80* 235 1.89 14.2 0.40
inc 30.10 40.30 9.20* 508 2.63 20.8 0.37
AFD-017 0.00 51.50 47.00* 166 1.75 16.2 0.48
AFD-018 11.20 31.40 19.30* 225 1.08 11.7 1.18
and 34.40 42.25 6.45* 73 0.87 10.5 0.98
AFD-019 16.40 38.75 22.35 138 0.90 8.1 0.82
and 70.50 79.80 5.20* 260 1.23 6.4 0.30
AFD-020 15.70 35.90 19.60* 78 0.62 6.3 0.55
and 56.50 116.00 56.70* 253 1.19 14.3 0.54
inc 56.50 64.50 8.00 804 0.45 22.1 1.25
and 123.15 132.15 9.00 55 1.68 16.0 0.20
*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 AFD-006, a void of 1.60m was encountered resulting in an intersection width of 2 1.10m. In AFD-007, a void of 3.00m
was encountered in a near-surface intersection resulting in an intersection width of 9.40m. Also, in AFD-007, a void of 4.50m from
57.15m to 61.65m was encountered in a strongly mineralised zone resulting in intersection widths of 33.25m (overall) and 7.20m
(higher-grade). In AFD-008, a void of 1.80m was encountered resulting in an intersection width of 13.15m. In AFD-010, a void of
1.05m was encountered resulting in an intersection width of 27.80m. In AFD-011, a void of 1. 70m was encountered resulting in
an intersection width of 31.90m. In AFD-012, a void of 0.85m was encountered resulting in an intersection width of 7.80m. In AFD-
013, a void of 1.10m was encountered resulting in an intersection width of 20.10m. In AFD-014 several voids totalling 5.95m were
encountered resulting in an intersection width of 31.00m. In AFD-015, two voids totalling 4.40m were encountered resulting in an
intersection wid th of 40.85m (overall) and 11.55m (higher grade) . In AFD-016, three voids totalling 3.70m were encountered
resulting in an intersection width of 51.80m (overall) and 9.20m (higher grade). In AFD-017 several voids totalling 4.50m were
encountered resulting in an intersection width of 47.00m. In AFD -018 two voids totalling 2.30m were encountered resulting in
intersection widths of 19.30m and 6.45m. In AFD -019 two voids totalling 4.10m were e ncountered resulting in an intersection
width of 5.20m. In AFD -020, a void of 0.6m results in an intersection width of 19.60m. Also , in AFD-020, a void of 2.30m is
immediately followed by mineralisation with a void of 2.80m resulting in an intersection wid th of 56.70m. Berenguela mining:
from 1913 until 1965 approximately 500,000 tons was mined from 17,700m of underground workings and open pit operations –
this equates to roughly 1.1% of the historic Berenguela resources (see p. 12 of AAG's corporate presentation for details:
https://aftermathsilver.com/site/assets/files/5753/2022-04-19-cp-aag.pdf). Aftermath recently obtained complete plans of
underground workings which will be incorporated into resource modelling where practical and appropr iate. All open pits have
been surveyed in detail.
2 The drilling was carried out at a high angle to the stratigraphically controlled mineralisation and intersections can be assumed
to equate approximately to true thickness apart from where local folding is encountered in the upper intersection of AFD-020.
The program was planned as a combination of resource verification, metallurgical sampling, and
confirmation of some historical RC holes. Aftermath's technical team is incorporating the new drilling into
a revised geological interpretation of the Berenguela mineralization which will be used to complete a new
NI 43-101 compliant mineral resource estimate later in 2022. Historical mapping and resource modelling
shows the mineralisation to extend for roughly 1300m along strike (including a 100m discontinuity) with
a width of 200 to 400m.
Zone of Historic Drilling
All holes reported to date have been drilled in zones with prior drilling as shown on the accompanying
sections 1200E, 1500E, 1550E, and 1700E. The verification and metallurgical drilling is designed to 1) infill
prior drilling patterns for incorporation into a new mineral resource estimate, and 2) recover sufficient
sample for metallurgical test work from representative areas of the known mineralisation. In both cross
sections in this release, all historic drilling was Reverse Circulation. The results of the new diamond drilling
reported here conform well to historic results, both in the overall tenor of th e metals and the thickness
of mineralisation. No RC holes were twinned by diamond drilling in holes reported in this NR so direct
comparisons cannot be made.
Drilling at Berenguela
Aftermath's drill program at Berenguela has progressed well and the first phase of diamond drilling has
now terminated . To date (May 17, 2022), the team completed 63 diamond core holes for a total of
6,168.15m of drilling. Core recoveries continue d to be excellent, averaging approximately 94 -95%.
Twenty-five holes have been completed at HQ diameter for resource infill and possible expansion, and 38
holes have been completed at PQ diameter principally for metallurgical sampling.
Cutting and sampling of core continues and approximately 4,403m has been cut and 3,844m sampled to
date. 104 batches of samples, 3,328 drill samples in total plus 832 check samples, have been shipped to
ALS's lab in Arequipa. The Company anticipates receiving regular batches of assay results in the coming
months.
A table of collar coordinates, azimuths, dips and final depths for all of AAG's drilling is included below and
a collar map also provided in the most recent corporate presentation available on Aftermath's website at
www.aftermathsilver.com. Cross sections for this release are available on Aftermath's website by clicking
here.
Geology
The host stratigraphy of mineralization 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, are emplaced in the folded limestones. Mineralisation largely follows stratigraphy and is
typically conserved as eroded synform remnants, usually exposed at surface and trending 105 -120
degrees. Historical ma pping and resource modelling shows the mineralisation to extend for roughly
1300m along strike (including a 100m discontinuity) with a width of 200 to 400m. The drilling was carried
out at a high angle to the stratigraphically controlled mineralisation and intersections can be assumed to
approximate to true thickness.
Hole AFD-006 (PQ diameter metallurgical hole) cut 2 zones of mineralisation in folded limestones. The upper
from 8.50m to 31.20m was characterised by massive replacement by MnO, whilst the lower from 59.80 m to
78.40m was subject to more moderate MnO replacement. Sedimentary breccias and limestones were
encountered below the mineralisation.
Hole AFD -007 (PQ diameter metallurgical hole ) cut 3 zones of mineralisation in folded limestones and
calcareous siltstones with significant amounts of MnO replacement – from 0.00 m to 12.40m, 17.00 m to
30.85m, and from 38.75m to 76.50m. The richest part of the mineralisatio n from 52.95 to 64.65m displayed
voids from underground mining. Arenites underlying the mineralisation were in contact with footwall
evaporites at 84.15m.
Hole AFD-008 (PQ diameter metallurgical hole) cut 3 zones of mineralisation. The upper from 2.30 m to 10m
was characterised by MnO replacement with ferruginous weathering. Underlying siltstones and sandy
limestones were altered with massive MnO replacement from 50.80 m to 65.75m, and again from 82.90 m to
98.55m. A sedimentary breccia at 101.85m was in contact with underlying evaporites at 107.30m.
Hole AFD-010 cut 2 zones of mineralisation. The upper, from surface to 28.85m was hosted in calcareous
siltstones with partial MnO replacement along fractures. The lower, from 55.90m to 66.05m was characterised
by massive MnO replacement in limestones. Intercalating calcareous siltstones were not mineralised. Arenites
from 68.20m were underlain by footwall evaporites at 75.55m.
Hole AFD-011 cut 2 zones of mineralisation, the upper one being characterised by more massive replacement
by MnO in limestones from surface to 33.60m, and the lower one being moderate replacement by MnO in
calcareous siltstones from 68.25m to 81.55m. The hole ended in calcareous siltstones at 89.05m.
Hole AFD -012 cut 2 zones of mineralisation (from surface to 13.80m, and from 22.80 to 31.45m) both
characterised by intercalations of limestones replaced by MnO and MnO in fractures in calcareous siltstones.
Underlying evaporites were encountered at 45.20m.
Hole AFD -013 cut 2 zones of mineralisation (from surface to 8.55m, and from 13.05 to 3 4.25m) both
characterised by intercalations of limestones replaced by MnO and MnO in fractures in calcareous siltstones.
Underlying evaporites were encountered at 59.10m.
Hole AFD-014 (PQ diameter metallurgical hole) cut mineralisation from 9.40m to 46.35m in altered limestones
with intercalations of massive MnO replacement and yellow clay alteration (residual in nature) associated with
MnO replacement in fractures. Parts of the sequence are friable. Underlying the mineralisation from 51.90 m
to 63.15m is a sedimentary breccia with a contact to evaporites at 63.15m.
Hole AFD-015 cut mineralisation from 11.15m to 56.40m in altered limestones with intercalations of massive
MnO replacement and yellow clay alteration of limestones (residual in nature) associated with MnO
replacement in fractures. Parts of the sequence are friable. Underlying the mineralisation from 5 4.40m to
63.15m are red arenites with a contact to evaporites at 63.15m.
Hole AFD-016 (PQ diameter metallurgical hole) cut a zone of mineralisation from surface to 55.50m dominated
by massive MnO replacement of limestones. Siltier parts of the sequence are yellow-coloured and friable. The
limestones pass directly into the underlying evaporites at 66.05m.
Hole AFD-017 cut a zone of mineralisation from surface to 51.50m dominated by massive MnO replacement
of limestones. A transition into less altered arenites occurs from 45 m to 51.50m. Red arenites predominate
from 53.45m to 56.85m and are underlain by evaporites.
Hole AFD -018 cut 2 zones of mineralisation from 11.20 m to 31.40m, and from 34.40 m to 42.25m both
characterised by massive MnO replacement of limestones. From 42.25m to 53.20m is a sedimentary breccia
underlain by arenites from 53.20m to 59.20m. At 59.20m the footwall evaporite sequence is encountered.
Hole AFD -019 (PQ diameter metallurgical hole) cut 2 zones of mineralisation. The upper, from 16.40 m to
38.75m, consists of moderate to massive MnO replacement of limestones. Intercalating limestones and
siltstones to the lower mineralisation are barren. From 70.50m to 79.80m a brecciated zone of limestones with
MnO in fractures has been subject to previous mining. From 81.00 m to 85.50m a tectonically brecciated
siltstone is then underlain by footwall evaporites (contact at 85.50m).
Hole AFD-020 (PQ diameter metallurgical hole) The upper part of the hole is an un -mineralised sedimentary
breccia which is in contact with a limestone at 14.70m. From 15.70 m to 35.90m the limestone is partially
replaced by MnO along fractures and per vasively along joints which forms the upper mineralised zone. From
56.50m to 116.00m the MnO replacement of limestones is more massive including a more ferruginous zone
from 56.50m to 64.50m which is highly mineralised in silver and zinc (804 g/t Ag and 1.25% Zn). From 123.15m
to 132.15m a sedimentary breccia is altered with MnO replacement and mineralised. Underlying limestone is
in contact with footwall evaporites at 143.90m.
Table 2. Hole azimuth & dip and collar positions. Aftermath drill holes AFD-010 to 020. Collar coordinates in
WGS84 19S
Hole # Diameter Depth (m) WGS84 X WGS84 Y Elevation (masl) Azimuth Dip
AFD010 HQ3 76.05 332064 8268151 4246 83 -85
AFD011 HQ3 89.05 332064 8268151 4246 185 -64
AFD012 HQ3 65.00 331557 8268214 4209 15 -45
AFD013 HQ3 65.70 331557 8268214 4209 15 -64
AFD014 PQ3 72.90 331587 8268362 4221 15 -47
AFD015 HQ3 66.70 331587 8268362 4221 35 -67
AFD016 PQ3 73.30 331587 8268362 4221 100 -81
AFD017 HQ3 58.90 331587 8268362 4221 175 -65
AFD018 HQ3 64.00 331922 8268248 4256 5 -45
AFD019 PQ3 90.90 331922 8268248 4256 185 -75
AFD020 PQ3 148.10 331922 8268248 4256 185 -58
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 p revent 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, Cu/Mn/Zn >10,000 g/t) 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.
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, 98 CRMs and 49 coarse bl anks were inserted and 4 elements checked
(Ag/Cu/Mn/Zn) – a total of 588 checks in total.
Of these 588 individual assays, 23 reported warnings (in a range of 2 to 3 Standard Deviations from the certified
value) and 27 reported failures (> 3 Standard Deviatio ns from the certified value). Warnings were viewed as
non-consecutive and within a narrow range of the expected value. Silver checks were of excellent quality with
only one failure in 98 CRM assays of a marginally low value from one Berenguela CRM. The specific high Cu
CRM reported one failure (marginally low value) from 24 assays. Other Cu failures (4 from 49 Berenguela CRMs)
were all marginally lower or higher values on the periphery of the assay ranges. The higher value Mn CRM is
close to the boundary limit of 2 distinct analytical methods which may cause issues and resulted in 5 failures,
all marginally low . Some batches will be re -assayed for Mn using the Ore -Grade Mn method to review the
results which will be up dated if warranted. The isolated copper Berenguela CRM failures are under
investigation to review if a re -assay is required. The coarse and pulp blanks did not reveal any material
contamination issues. Duplicates (49 in this batch) reported well within a narrow range with the exception of
2 samples that were variable – one for silver and one for both silver and copper. Examination of the cores
revealed that the samples were naturally heterogeneous and subject to this type of metal variation.
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 NI 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.
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.
• Berenguela Silver-Copper project. The Company has an option to acquire a 100% interest through
a binding agreement with SSR Mining. The project is located in the Department of Puno, in southern
central Peru. A NI 43-101 Technical Report on the property was filed in February 2021 (available on
SEDAR and the Company’s web page). The Company is currently drilling at Berenguela and planning
to advance the project through a pre-feasibility study.
• Challacollo Silver -Gold project. The Company has an option to acquire 100% interest in the
Challacollo silver -gold project through a binding agr eement with Mandalay Resources ; see
Company news release dated June 27th, 2019. A NI 43 -101 mineral resource was released on
December 15, 2020 (available on SEDAR and the Company’s web page) . The Company is currently
permitting road access in anticipation of an upcoming drill program.
• Cachinal Silver-Gold project. The Company own s a 100% interest in the Cachinal Ag -Au project,
located 2.5 hours south of Antofagasta. , On September 16, 2020 the Company released a CIM
compliant Mineral Resource and accompanying NI 43 -101 Technical Report (available on SEDAR
and on the Company's web page).
ON BEHALF OF THE BOARD OF DIRECTORS
“Ralph Rushton”
Ralph Rushton
CEO and Director
604-484-7855
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts 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 interpret ation 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 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 fr om 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 o f capital and financing; 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; t hat 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 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 develo ped 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, and information concerning mineralization, deposits,