Andean Silver Limited · ASX:ASL
Andean Silver — Investor Presentation (September 2024)
42 slides from Andean Silver's investor presentation, Sep 17, 2024
Slide 1: Revised Presentation
Revised Presentation 17 September 2024 Andean Silver Limited (ASX:ASL) (“Andean” or the “Company”) released an announcement to ASX on 10 September 2024 titled “Resource soars to 91Moz AgEq – Beaver Creek Presentation”. Following discussions with the ASX, the Company has amended and released the pres
Slide 2: Exploring and Developing the Cerro Bayo Silver Project in Chile
For personal use only Exploring and Developing the Cerro Bayo Silver Project in Chile SCALE – GRADE – INFRASTRUCTURE September 2024
Slide 3: Disclaimers
DISCLAIMERS This presentation has been prepared by Andean Silver Ltd (ACN 645 578 454) (Company) based on information from its own and third party sources and is JORC CODE not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch o
Slide 4: Key Takeaways
For personal use only Key Takeaways Scale – 91Moz AqEq and growing Grade – Impressive 342g/t AgEq Infrastructure - in place ready to go Newsflow rich – Resource updates + exploration results Right Commodity – Silver and Gold Proven Team – think of BGL, FFM, NST, SAR, KDR, RMS & MCR Strategic – Large
Slide 5: Board and Management
Board and Management Proven Leadership Team in the Resource Sector For personal use only Ray Shorrocks Tim Laneyrie Non-Executive Chair Chief Executive Officer Previous Chair of Bellevue Gold, immediate past Non- Previously holding senior positions with Northern Star Executive Chair of FireFly Metal
Slide 6: Investment Highlights
Investment Highlights For personal use only Upside Resources & Mines Infrastructure Rapid Low-Cost Growth Shallow High-Grade Silver-Gold A$150M of Infrastructure and through the Drill Bit with Multiple Mining Fronts Investment in Place › 2 Drill rigs on the ground, planning to increase Total indicat
Slide 7: Strong Share Register and Funded
Strong Share Register and Funded CAPITAL STRUCTURE CURRENT A$0.945 A$109M For personal use only Shares on issue1 115.4M Options & Performance Rights2 37.8M Current Share Price1 Market Capitalisation1 SHAREHOLDER SUMMARY1 NO DEBT A$10.5M Board and Management (fully diluted) 30.0% Australian and Globa
Slide 8: The Rapid Transformation of Andean Silver
The Rapid Transformation of Andean Silver Continued catalyst rich growth to unlock value for shareholders and stakeholders For personal use only Resource $1.20 Pegaso 7 drill Upgrade to results 91Moz AgEq Discovery of $1.00 Guanaco veins $0.80 A$10M capital raise Share Price $0.60 Cerro Bayo Resourc
Slide 9: Silver – Powering The Future
Silver – Powering The Future 1400 1800 For personal use only Moz Silver (Vault Stocks) Moz SIlver (Demand) 1200 1600 1400 Photovoltaics 1000 1200 Electrical Applications (~20g of Silver per KW) 800 1000 (19% of Silver use in Electrical Circuits) 600 800 600 400 400 200 200 Future Technology Value 0
Slide 10: Chile – A World Class Endowment
Chile – A World Class Endowment Deseado Massif World-Class Province Globally Significant Metals Producer For personal use only 1st 2nd 2nd 4th Copper Lithium Molybdenite Silver (~23%) (~24%) Investment by Major Companies SQM – Lithium | Codelco – Copper | Antofagasta – Copper Glencore – Copper & Mol
Slide 11: Cerro Bayo Project Overview
Cerro Bayo Project Overview For personal use only ASX CODE: Average RL of mines is 400m above sea level to 800m at Sinter cap level ASL
Slide 12: Infrastructure Overview
INFRASTRUCTURE OVERVIEW Crusher SAG MILL BALL MILL VERTI MILL FLOAT CIRCUIT For personal use only 6.5MW installed, 3 x 1MW spare ASX CODE: Crusher Mill Offices Assay lab Stores/HV workshop ASL
Slide 13: Laguna Verde Mine Complex - Overview
Laguna Verde Mine Complex - Overview For personal use only ASX CODE: ASL
Slide 14: High Grade Base Feed - Taitao
High Grade Base Feed - Taitao › JORC Inferred Resource of 3.8Mt @ 206g/t AgEq for 24.7Moz AgEq For personal use only › Open pit broad breccia target zone with high grade underground feeder veins › Proximal to the processing facility, shallow, continuous › Form the core of the base load for future re
Slide 15: Delia Se – High Grade and Accessible
Delia Se – High Grade and Accessible For personal use only ✓ High grade feed to complement Open pit Base load ✓ Vein width typically up to 4m ✓ Current Resource OPEN to the south and down plunge ✓ Resource contained in top 300m ✓ Number of high-grade veins parallel and oblique to Delia not in curren
Slide 16: Coyita Vein – Rapid Value Growth
Coyita Vein – Rapid Value Growth ✓ High grade feed to complement Open pit For personal use only Base load ✓ Exceptional grades underpin a high value resource ✓ Coyita veins over 1.3km of strike ✓ Access to Coyita Nth vein via the established Coyita Decline ✓ Coyita Sth can be rapidly accessed by the
Slide 17: Pegaso – Growing a Significant Future Resource
Pegaso 7 – Growing a Significant Future Resource For personal use only Maiden Drill Campaign extended known mineralisation to 600m Surface mineralisation extends over 1km in strike Maiden resource on Pegaso 7 progressing Future mining scenario would be a combined Open Pit and Underground scenario Si
Slide 18: Cerro Bayo Mine Complex - Overview
Cerro Bayo Mine Complex - Overview For personal use only ASX CODE: ASL
Slide 19: Marcela Sth Vein – Ready to mine
Marcela Sth Vein – Ready to mine ✓ One lode which is part of a larger 1.5km For personal use only vein system. ✓ Development in place; levels, vent raises, etc to support a low cost, rapid restart ✓ Know metallurgy and geotechnical conditions and historic development = little surprises ✓ Untested or
Slide 20: Resources to surface – Optionality
Resources to surface – Optionality ✓ Multiple high grade lodes exposed on For personal use only surface ✓ Historic open cut operations and undergrounds ✓ Optionality for combined open pit and underground operations ASX ASXCODE: CODE: Refer to ASX release dated 10 September 2024. ASL ASL
Slide 21: Exploration and Future Growth
For personal use only Exploration and Future Growth ASX CODE: ASL
Slide 22: Cerro Bayo – Under Explored for Years
Cerro Bayo – Under Explored for 20 Years For personal use only Historic Production of 48.3Moz AgEq District scale project area Extensive Surface outcrop veins discovered New discoveries still being made Raul West vein high-grade rock chips › 2,090 g/t Silver & 17.3 g/t Gold › 1,464 g/t Silver & 15.8
Slide 23: Droughtmaster corridor – Emerging District
Droughtmaster corridor – Emerging District For personal use only Underexplored Extensive System Extensive Surface outcrop over 4km Strike Discovery of new high grade vein trends 40% of corridor under cover = future discoveries? Sits within a large graben structure High grade vein high-grade rock chi
Slide 24: Droughtmaster Corridor Structures
Droughtmaster Corridor Structures Veta Madre Percheron Vein Raul West Vein For personal use only Untested at depth 2m @ 291g/t AgEq 0.5m @ 2,499g/t AgEq Veta Veta Percheron Madre Segunda ASX CODE: Refer to ASX release dated 5 August 2024. ASL
Slide 25: Huge Regional Upside – Los Domos
Huge Regional Upside Los Domos Exceptional high grade surface rock chips including: For personal use only › Polymetallic intermediate sulphidation style deposit with only ~7,000m drilled to date - walk up drill targets › Los Domos covers a 10km Strike › Southern Extension to the Cerro Bayo Project =
Slide 26: World class silver assets
World class silver assets 1,200 Las Chispas For personal use only High Grade Mines 1,000 Median MC = A$1.2b Cerro Moro 800 San Dimas San Jose AgEq Grade (g/t) Guanacevi Pallancata San Julian -Vein Cienega Complex 600 Manatial Espejo Arcata Dolly Varden Inmaculada Cerro Negro Bolanitos Santa Elana La
Slide 27: Establishing Strong Social Presence
Establishing Strong Social Presence › Cerro Bayo has +25yrs of overwhelming A B local community support through For personal use only sponsorship of sporting groups, community programs and infrastructure investment › Archaeological site preservation › University of Santiago geology sponsor › Donate
Slide 28: Continued Resource growth and discovery News Flow
Continued Resource growth and discovery 12 Month News Flow For personal use only Well-funded for 2024-2025 works program and multiple resource updates • 2 x Drill rigs on the ground Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Evaluation of • Planning to increase to 4 in 2025 Historic Data targeting a to
Slide 29: Cerro Bayo Silver-Gold Project
Cerro Bayo Silver-Gold Project Rapid low-cost growth through the drill bit – a proven strategy for value creation For personal use only Highlights › A significant ready-to-go silver-gold mine in the Deseado Massif, Chile › A world class mining province host to Newmont, Yamana, Anglo Ashanti, McEwen
Slide 30: Appendices
APPENDICES For personal use only Appendix A - Infrastructure Overview, Resource Overview and Exploration Summary Appendix B - Silver Statistics Appendix C - Cerro Bayo Project Mineral Resources Appendix D - Comparisons ASX CODE: ASL
Slide 31: Ready to Go – A$150m Mine Infrastructure
READY TO GO A $150m Mine Infrastructure Situated 20km by road west of the mining town For personal use only of Chile Chico (population 4,000) Cerro Bayo Mine Complex Processing Facility Site Infrastructure Equipment For Restart › Over 400km2 of granted tenure › 1,650 tpd floatation plant in › 1,600m
Slide 32: Huge Regional Upside – Cerro Diablo
Huge Regional Upside Cerro Diablo › Cerro Diablo geological model related to HOD MADEN style Hybrid mineralization Exceptional high grade surface rock chips For personal use only (VMS/intermediate sulphidation) including: › Large Permit with high priority walk up drill targets › Polymetallic interme
Slide 33: New Discoveries Proximal to Mill
New Discoveries Proximal to Mill Cristal discovery within 1.5km of processing plant For personal use only Extensive vein corridor Outstanding series of outcropping veins High-grade hits include: 0.5m @ 19,856g/t AgEq (1,442g/t Silver & 221.9g/t Gold) 0.6m @ 11,965g/t AgEq (1,967g/t Silver & 120.5g/t
Slide 34: Coyita Resource – Feb 2024
APPENDIX A Coyita Resource – Feb 2024 For personal use only ASX CODE: ASL
Slide 35: Delia Resource – Feb 2024
APPENDIX A Delia Resource – Feb 2024 For personal use only ASX CODE: ASL
Slide 36: Infrastructure Overview – Coyita and Delia Mine Infrastructure
APPENDIX A INFRASTRUCTURE OVERVIEW COYITA AND DELIA MINE INFRASTRUCTURE For personal use only DELIA SUR MINE ASX CODE: COYITA NORTE MINE ASL
Slide 37: Appendix B – Silver Statistics
APPENDIX B Silver Statistics For personal use only Global Silver production versus demand Major bullion vaults stocks 2020-2022 2020 2021 2022 2023 2yr_avg Mine Supply Recycling Capacity Market Demand Auditable Vault London Vaults 1080.5 1161.5 840.9 856.2 -26% Year Deficit (Moz) CME 396.5 355.7 299
Slide 38: Appendix C – Cerro Bayo Project Mineral Resources
APPENDIX C Cerro Bayo Project Mineral Resources As at 1 September 2024 1. Mineral Resources are classified and reported in accordance with For personal use only the 2012 JORC Code. 2. Open pit resources are reported to a cutoff grade of 65g/t AgEq. 3. Pit optimisation shells were used to constrain t
Slide 39: World class silver assets - Resources
APPENDIX D World class silver assets - Resources For personal use only Resource - Project Comps Measured Indicated Inferred Total Resource tonnes Au tonnes Au Mine Company Au(g/t) Ag(g/t) Ag(koz) tonnes (kt) Au(g/t) Ag(g/t) Au (koz) Ag(koz) tonnes (kt) Au(g/t) Ag(g/t) Au (koz) Ag(koz) Au(g/t) Ag(g/t
Slide 40: World class silver assets - Reserves
APPENDIX D World class silver assets - Reserves Reserve - Project Comp Proven Probable Total Reserve For personal use only Mine Company tonnes (kt) Au(g/t) Ag(g/t) Au (koz) Ag(koz) tonnes (kt) Au(g/t) Ag(g/t) Au (koz) Ag(koz) tonnes (kt) Au(g/t) Ag(g/t) Au (koz) Ag(koz) Cerro Negro Newmont 1,900 11.
Slide 41: World class silver assets - Total In-situ Resources
APPENDIX D World class silver assets - Total In-situ Resources, inclusive of Reserves Total Resource Total Resource AgEq Source Mine Company Resource Date Project Status tonnes (kt) Au (g/t) Ag (g/t) Au (koz) Ag(koz) AgEq (koz) (g/t) For personal use only Cerro Negro^ Newmont Dec 31, 2023 Production
Slide 42: For personal use only
For personal use only (+61) 8 6243 6542 Level 2/8 Richardson Street, West Perth, WA 6005 info@ANDEANSILVER.com ANDEANSILVER.COM
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