First Andes Silver Identifies Multi-Kilometer Zoned Alteration Center (1.3 X 2 Km) from WORLDVIEW-3 Data, Santas Gloria Project, PERU
FIRST ANDES SILVER IDENTIFIES MULTI-KILOMETER ZONED ALTERATION CENTER (1.3 X 2 KM) FROM
WORLDVIEW-3 DATA, SANTAS GLORIA PROJECT, PERU
Vancouver, British Columbia – January 15, 2025 – FIRST ANDES SILVER LTD. (TSXV: FAS; OTC Markets:
MSLVF; FSE: 9TZ) (“First Andes” or the “Company”) today reported the identification of a kilometer-scale
zoned alteration cell at its 100%-owned Santas Gloria Project (“Santas Gloria” or the “Project”) in Peru,
following interpretation of the new WorldView-3 (“WV-3”) short-wavelength infrared (“SWIR”) spectral
alteration mineral mapping data (“WV-3 SWIR”) . The alteration assemblage, zonation, and structural
control are consistent with a well-developed intermediate-sulphidation epithermal (“ISE”) system.
Key Points Summary:
• WV-3 SWIR data has defined a 1.3 km x 2 km zoned alteration cell, coincident with several mapped
but fully undrilled vein systems which collectively total >5 km of strike length (Figures 1-2);
• Alteration cell is strongly zoned and exhibits a mineral assemblage consistent with the expected
architecture of a well-developed intermediate-sulphidation epithermal system:
o Sericite-dominant inner core with localized argillic overprint (kaolinite)
o Hematite-rich iron-oxide zones nested within the sericite -dominant core, interpreted as
oxidation of sulphide-bearing structures along principal fluid pathways
o Broad, lower-temperature clay halo (montmorillonite) that expands away from the core
o Distal chlorite-epidote ± calcite alteration interpreted as propylitic wall-rock alteration
• The alteration cell core hosts a comparable spectral alteration mineral assemblage to the exposed
high-grade San Jorge and Tembladera vein systems (Figure 3);
• The alteration footprint is structurally controlled, forming an elongate corridor with clustered
alteration pods, consistent with fault/fracture-focused fluid flow typical of ISE vein systems;
• WV-3 SWIR mineral mapping provides a new, high-resolution targeting layer to prioritize follow-
up work by focusing on core-domain areas with coincident sericite ± kaolinite and hematitic zones;
• Results support immediate follow -up fieldwork to ground -truth alteration boundaries, refine
structural interpretation, and conduct systematic sampling across core-to-halo transitions;
• Phase 2 soil sampling over the southern half of the Project (incl. alteration cell) is to commence
in March (1,430 samples), and assays from Phase 1 (1,037 soils) are anticipated in 2-3 weeks.
“This is a key step forward for First Andes Silver. WorldView-3 interpretation has defined a large, kilometre-
scale, zoned alteration cell that is coincident with known epithermal vein occurrences, and no prior
drilling,” stated Colin Smith, CEO of First Andes Silver Ltd. “With this new targeting tool in hand, First
Andes is moving quickly into systematic field validation and soil geochemistry to define targets. We also
look forward to the results of the ongoing metallurgical test work to further validate silver leachability in
the oxide domains of the vein systems.”
“WorldView-3 SWIR mapping has defined a 1.3 x 2.0 km zoned alteration cell at Santas Gloria that directly
overlaps multiple mapped but undrilled vein systems with a cumulative strike length of >5 km,” stated Dr.
Christopher Wilson, Chief Geologist of First Andes Silver Ltd. “The zoning is consistent with the expected
architecture of the uppermost part of an intermediate -sulphidation epithermal vein system, including a
sericite ± kaolinite core with nested hematite -rich oxide s (after base metal sulphides) , w hich grades
outward to distal montmorillonite and propylitic chlorite-epidote ± calcite alteration. This provides a high-
resolution targeting layer that helps define the potential core of the broader Santas Gloria epithermal
district.”
Interpretation
The Company interprets the WV-3 SWIR alteration mapping to define a coherent, structurally controlled
hydrothermal cell characterized by a sericite -dominant core, localized argillic overprint, outward clay
zoning, and distal propylitic alteration (Figures 1 -3). This core -to-halo architecture is consistent with
alteration patterns commonly developed in intermediate -sulphidation epithermal vein systems, where
fluid flow is focused along faults and fracture networks and alteration assemblages vary systematically
with temperature, permeability, and distance from principal up-flow zones.
Importantly, the presence of extensive hematite -rich iron -oxide zones nested within the sericite -
dominant core is interpreted to reflect near -surface oxidation along structures that may have originally
hosted sulphide-bearing veins and/or breccias. These oxidized zones can provide a practical surface vector
to underlying mineralized structures, even where silicification and quartz veining are not directly resolved
by SWIR mineral mapping.
Figure 1: WorldView-3 SWIR alteration mineral mapping showing the ~1.3 km × 2.0 km zoned alteration
cell and the distribution of sericite (core), hematite/iron-oxide gossan, localized kaolinite, montmorillonite
(clay halo), and distal chlorite-epidote ± calcite (propylitic) alteration.
Figure 2: WorldView-3 SWIR alteration mineral mapping showing the ~1. 3 km × 2.0 km zoned alteration
cell in relation to mapped intermediate-sulphidation vein systems, surface rock sampling, and drilling.
Figure 3: WorldView-3 SWIR alteration mapping showing that the alteration cell core shares an analogous
spectral mineral signature to the high -grade San Jorge and Tembladera veins (sericite -hematite with
localized kaolinite).
Targeting Implications
The Company will focus follow-up work on the strongest parts of the alteration footprint, especially where
sericite (core alteration) occurs together with hematite-rich iron oxides and localized kaolinite within the
main cell. These areas may mark the most active fluid pathways and the best locations for epithermal
veins and/or breccias. Additional priority will be given to the edges of the corridor where the alteration
changes from sericite to montmorillonite, and to clustere d “pods” and structural junctio ns, which can
indicate areas where mineralized structures widen or intersect. These vectors will be integrated with soil
results, mapping and rock sampling to refine drill-ready targets.
Next Steps
First Andes will use the WV-3 products as a vectoring tool to advance and prioritize epithermal corridors
by delineating loci of intense hydrothermal alteration. Immediate follow-up exploration to include (Figure
4):
• Field validation of alteration zonation and structural controls across the main cell and satellite
pods;
• Phase 2 soil sampling in March (planned 1,430 samples) to expand geochemical coverage over the
southern Project area; and
• Targeted rock-chip and/or channel sampling across priority alteration domains and any resulting
soil anomalies to support subsequent drill targeting.
Figure 4: WorldView-3 SWIR alteration map showing planned Phase 2 soil sampling (March start) and
completed Phase 1 soil sampling (assays pending) across priority epithermal vein targets.
About the Santas Gloria WorldView-3 Program
Property-wide (50 km2) WorldView-3 multispectral and SWIR imagery was captured in December 2025
over the Santas Gloria vein field and prospective extensions, providing a high-quality dataset for district-
scale alteration mapping. The WV-3 SWIR and visible near -infrared (“VNIR”) wavelengths are capable of
detecting key alteration -related minerals, in cluding clays (e.g., kaolinite and montmorillonite), white
mica/sericite, carbonate (calcite), and chlorite/epidote, as well as iron -oxide minerals such as hemat ite.
The resulting mineral maps and polygons add a new, high-resolution layer for corridor-scale targeting by
highlighting alteration mineral distributions and zonation patterns that can be tested and refined through
field validation.
Qualified Person
Dr. Christopher Wilson, P.Geo., a Qualified Person under National Instrument 43 -101, has reviewed and
approved the technical information contained in this news release. Dr. Wilson serves as Chief Geologist
of First Andes Silver Ltd. and is a shareholder of the Company.
About First Andes Silver Ltd.
First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high -grade Santas
Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has
excellent established road access, is situated within a well-known intermediate-sulphidation epithermal
belt, and hosts over 12 km of multiphase veins mapped at surface that had never been historically drilled
or explored by modern techniques prior to 2024. In only two phases of diamond drilling (2024–2025), First
Andes has reported strong near -surface epithermal silver intercepts in 21 of 26 drill holes, confirming
silver mineralization across multiple vein systems and supporting systematic, project -wide exploration
and follow-up drilling in 2026..
For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: [email protected]
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