Business
First Andes Silver Closes Acquisition of Silver Projects in New South Wales, Australia
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2026) - FIRST ANDES SILVER LTD. (TSX...
About this update from First Andes Silver Ltd
[{"type":"text","content":"First Andes Silver Closes Acquisition of Silver Projects in New South Wales, AustraliaVancouver, British Columbia--(Newsfile Corp. - February 3, 2026) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (\"First Andes\" or the \"Company\") today announced that it has completed its acquisition of three (3) silver-focused exploration projects known as the Carrington Project (\"Carrington\"), the Stony Creek Project (\"Stony Creek\") and the Dartmoor Project (\"Dartmoor\") (together, the \"Silver Projects\"), located in New South Wales, Australia (Figure 1).In consideration of the Silver Projects, the Company reimbursed the Vendor for costs of A$15,500 and issued an aggregate of 1,500,000 common shares of the Company (the \"Consideration Shares\"). The Consideration Shares are subject to a four-month hold period from the date of issuance.The Company is eager to advance exploration in two established mining jurisdictions. First Andes is preparing for a Q2 2026 drill program at its flagship Santas Gloria Project in Peru, targeting high-grade silver across multiple vein systems while integrating new targeting data from the ongoing property-wide exploration program. In New South Wales, Australia, the Company will focus on early-stage target generation and field validation of historic mineral occurrences across the newly acquired Silver Projects.About the Silver ProjectsCarrington (ELA 6982)Carrington is a 160 km² exploration licence application covering an iron-rich skarn system with Au-Ag-Pb-Sb mineralization located in the Lachlan Orogenic Belt of southeastern New South Wales. Two parallel mineralized structures lie east and west of a sandstone ridge, with the historic Carrington mine developed on the eastern structure and the Iron Duke prospect on the western structure. The prospects are hosted by limestone members of the Jerrara Formation and are spatially associated with the regionally significant Yarralaw Fault.Historic mining at Carrington exploited laterally extensive mineralized gossans up to 6 meters wide. Rock chip sampling of gossanous material has returned grades of up to 85 g/t Au, 6,037 g/t Ag, 24.8% Pb and 16.8% Sb (see Sentinel Resources Corp. news release dated October 13, 2020). Aeromagnetic data define a strong magnetic corridor that trends south from the Lockyersleigh Granite through the Carrin...