ASL $1.02 $ 160 million market cap approxCerro Bayo Silver-Gold Project in Chile latest update is very interesting as It could increase the potential of project in a major way. Existing Mineral Resource of Silver and Gold: 111Moz Ag Eq (Indicated and Inferred) Over the past 12 months, they have increased Mineral Resources by over 340%. Importantly it is higher grade with no base metals.
Recent Exploration work has yielded exceptional high-grade rock chip results from these newly defined veins. The most notable include
- 30,202g/t AgEq (16,833g/t Ag & 161.1g/t Au) or 364g/t AuEq;
- 13,299g/t AgEq (5,343g/t Ag & 95.9g/t Au) or 160.2g/t AuEq;
- 7,096g/t AgEq (3,673g/t Ag & 41.2g/t Au) or 85.5g/t AuEq;
- 3,993g/t AgEq (1,266g/t Ag & 32.9g/t Au) or 48.1g/t AuEq; and
- 2,851g/t AgEq (1,321g/t Ag & 18.4g/t Au) or 34.3g/t AuEq.
CEO Tim Laneyrie, "We are building an exceptional pipeline of drilling targets with the potential to drive substantial resource growth."Tim Laneyrie states, "These newly identified high grade silver and gold veins, together with our existing geophysical targets, give us amazing exploration visibility and the project’s upside is immense."
High Grade ore usually means Lower mine operating cost per ounce produced or you could say a highly profitable mine. Results from Taitao open pit drilling areas are expected in the coming weeks.
