Andean Silver Limited · ASX:ASL
Andean Silver — RRS Summer Series Conference (December 2024)
50 slides from Andean Silver's conference presentation, Dec 3, 2024
Slide 1: Exploring and Developing the Cerro Bayo Silver-Gold Project in Chile
For personal use only Exploring and Developing the Cerro Bayo Silver-Gold Project in Chile SCALE – GRADE – INFRASTRUCTURE December 2024
Slide 2: 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 3: Key Takeaways
For personal use only Key Takeaways Scale – 91Moz AgEq 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 4: Board and Management
Board and Management Proven Leadership Team in the Resource Sector Steve Parsons Corporate Consultant For personal use only FireFly Metals (MD), Bellevue Gold (NED) Michael Naylor Corporate Consultant FireFly Metals (ED), Bellevue Gold (NED) Ray Shorrocks David Southam Tim Laneyrie Damien Koerber Ma
Slide 5: Investment Highlights
Investment Highlights Upside Resources & Mines Infrastructure For personal use only 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 Total indicated and inferred resour
Slide 6: Strong Share Register and Funded
Strong Share Register and Funded CAPITAL STRUCTURE CURRENT A$0.99 A$155m For personal use only Shares on issue1 156.8M Options & Performance Rights2 20.2M Current Share Price1 Market Capitalisation1 SHAREHOLDER SUMMARY1 NO DEBT A$31.1m Board and Management (fully diluted) 30.0% Australian and Global
Slide 7: The Rapid Transformation of Andean Silver
The Rapid Transformation of Andean Silver Continued catalyst rich growth to unlock value for shareholders and stakeholders 1.80 Exploration Resource grown from 25Moz Resource Upgrade results For personal use only 1.60 to 91Moz AgEq and to 91Moz AgEq drilling update 1.40 4 rounds of drill updates Exp
Slide 8: Silver – Powering The Future
Silver – Powering The Future 1400 1800 For personal use only Moz Silver (Vault Stocks) 1600 Moz SIlver (Demand) 1200 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 9: Cerro Bayo Overview
For personal use only Cerro Bayo Overview ASX CODE: ASL
Slide 10: Chile – A World Class Mining Jurisdiction
Chile – A World Class Mining Jurisdiction 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 – Co
Slide 11: Deseado Massif
Deseado Massif World-Class Au-Ag Low Sulphidation Mineral Province • Cerro Bayo sits within the Jurassic aged Deseado For personal use only Massif that stretches from the Atlantic coast in Argentina into Chile • The Deseado is host to +8 high grade Au-Ag low sulphidation epithermal deposits with 4 o
Slide 12: Cerro Bayo - Scale
Cerro Bayo - Scale For personal use only Laguna Verde Guanaco Cerro Bayo Chile Chico Mine Complex mine Mine Complex Town ASX CODE: ASL
Slide 13: Laguna Verde Mine Complex
Laguna Verde Mine Complex For personal use only Laguna Verde Mine Complex ASX CODE: ASL
Slide 14: Delia SE – High Grade and Accessible
Delia SE – High Grade and Accessible Vein width typically up to 4m For personal use only Current Resource OPEN to the south and down plunge Resource contained in top 300m Number of high-grade veins parallel and oblique to Delia SE not in current resource are to be evaluated progressively with furthe
Slide 15: Coyita Trend – Exceptional Value
Coyita Trend – Exceptional Value Coyita veins over 1.3km of strike For personal use only Access to Coyita Nth vein via the established Coyita Decline Coyita SE can be rapidly accessed by the development of a 650m 1:7 southern extension to the Coyita Decline Extensional Drilling to commence at Coyita
Slide 16: Cristal – Future Resource Growth
Cristal – Future Resource Growth Cristal discovery within 1.5km of processing plant For personal use only Extensive high grade vein corridor drilled over 150m vertically Initial Drilling results include: 4.5m @ 584g/t AgEq (380g/t Ag & 2.5g/t Au) 4.5m @ 7g/t AuEq 1.2m @ 1,252g/t AgEq (27g/t Ag & 14.
Slide 17: Pegaso – Future Resource Growth
Pegaso 7 –Future Resource Growth Surface mineralisation extends over 1km in strike with For personal use only multiple shoots and not fully tested Significant drill results 5.85m @ 807g/t AgEq (351.6g/t Ag & 5.5g/t Au) (~5.85m @ 10g/t AuEq) 1.4m @ 1,871g/t AgEq (1,140g/t Ag & 8.8g/t Au) (~1.4m @ 22g
Slide 18: Cerro Bayo Mine Complex
Cerro Bayo Mine Complex Guanaco Cerro Bayo For personal use only mine Mine Complex ASX CODE: ASL
Slide 19: Cerro Bayo Mines
Cerro Bayo Mines For personal use only Guanaco Sur Guanaco 2 Guanaco 1 Lourdes Marcela Norte Marcela ASX CODE: ASL
Slide 20: Marcela Sth Vein – Advanced Project
Marcela Sth Vein – Advanced Project Marcela Sth lode is part of a larger 1.5km vein system For personal use only An only blind discovery made in the district Development in place; levels, vent raises, etc to support a low cost, rapid restart Untested mineralized shoots at depth and along strike sitt
Slide 21: Resources to surface provide optionality
Resources to surface provide optionality Multiple high-grade lodes exposed on surface For personal use only Historic open cut operations and undergrounds Optionality for future mine restart Significant drill results include: 3.1m @ 923g/t AgEq (252g/t Ag & 8.1g/t Au) (~3.1m @ 11.1g/t AuEq) 6.1m @ 72
Slide 22: Regional Exploration and Growth
For personal use only Regional Exploration and Growth ASX CODE: ASL
Slide 23: Cerro Bayo Project-Discovery History
Cerro Bayo Project-Discovery History For personal use only • LVMC area discovered by Freeport in 1984 Coeur Mining purchased project in 1990 • First voluntary EIA on a mining project in Chile approved for Cerro Bayo in 1994 • Coeur Mining initiated production in 1996 from open pit and shallow high
Slide 24: Cerro Bayo – New discoveries
Cerro Bayo – New discoveries District Scale Potential For personal use only Historic mining from outcropping veins Average mining depth to 150m Exploration historically focused on only drilling below outcropping high grade veins Limited Historical Geophysics and Hyperspectral work Limited Epithermal
Slide 25: Droughtmaster Overview
Droughtmaster Overview For personal use only Droughtmaster Corridor ~4km x 1km Raul Open Pit Marcela Raise Bore ASX CODE: ASL
Slide 26: 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 27: Geophysical Program
Geophysical Program For personal use only • CSAMT to cover the immediate near mine and first ranked Guanaco, Marcela, Lourdes targets Cerro Bayo • Will cover and area of approx. Mine 10km x 5km (~300 line km) Laguna Verde Mallines • Cover an elevation range of 400mRL to 1,300mRL • Will look below kn
Slide 28: Sinter Hill and Mallines
Sinter Hill and Mallines 1,100mRL For personal use only <750mRL Los Domos 12km Mallines Veins Sinter Hill (1,300mRL) ~2.7km <750mRL 1,000mRL Paleosurface Eruption Breccias -Sinter Hill Domes North Cascada underground mine Scale = 1,000m (850mRl) ASX CODE: ASL
Slide 29: Cascada to Sinter Hill
Cascada to Sinter Hill For personal use only Dome Sinter Hill (1,300m) Surface Alteration Cascada underground Mine (850mRL) ASX CODE: ASL
Slide 30: Droughtmaster Corridor Structures
Droughtmaster Corridor Structures Veta Madre Percheron Vein Raul West Vein Underexplored at depth 2m @ 291g/t AgEq 0.5m @ 2,499g/t AgEq For personal use only Veta Veta Percheron Madre Segunda ASX CODE: Refer to ASX release dated 5 August 2024. ASL
Slide 31: Cerro Bayo District – vein-breccia targets
Cerro Bayo District – vein-breccia targets For personal use only Underexplored large scale Paleosurface Eruption High level chalcedonic veining - Guanaco Breccias -Sinter Hill veins-Droughtmaster ASX CODE: Prospect ASL
Slide 32: Regional Targets – Los Domos
Regional Targets 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 = 26k
Slide 33: Regional Targets – Cerro Diablo
Regional Targets Cerro Diablo › Cerro Diablo geological model related to HOD MADEN style Hybrid Exceptional high grade surface rock chips mineralization (VMS/intermediate sulphidation) For personal use only including: › Large Permit with high priority walk up drill targets Copper Rich Zone › 20.6% C
Slide 34: 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 by Q1 2025 Historic Data targeting a
Slide 35: 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 - World Class Silver Assets ASX CODE: ASL
Slide 36: Infrastructure and Community
For personal use only Infrastructure and Community ASX CODE: ASL
Slide 37: 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 38: Establishing Strong Social Presence
Establishing Strong Social Presence › Cerro Bayo has +25yrs of overwhelming local community support through A B sponsorship of sporting groups, community For personal use only programs and infrastructure investment › Archaeological site preservation › Geology student sponsorships › Donate pumps and
Slide 39: High Grade Base Feed - Taitao
APPENDIX A 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 fo
Slide 40: New Discoveries Proximal to mill
New Discoveries Proximal to mill For personal use only Cristal discovery within 1.5km of processing plant Extensive high grade vein corridor drilled over 150m vertically Initial Drilling results include: 4.5m @ 584g/t AgEq (380g/t Silver & 2.5g/t Gold) ~4.5m @ 7g/t AuEq 1.2m @ 1,252g/t AgEq (27g/t S
Slide 41: Future discoveries
APPENDIX A Future discoveries District Scale Potential For personal use only Historic mining from outcropping veins Average mining depth to 150m Exploration historically focused on only drilling below outcropping high grade veins Limited Historical Geophysics and Hyperspectral work Limited Epitherma
Slide 42: Coyita Resource – Feb 2024
APPENDIX A Coyita Resource – Feb 2024 For personal use only ASX CODE: ASL
Slide 43: Delia Sur Resource – Feb 2024
APPENDIX A Delia Sur Resource – Feb 2024 For personal use only ASX CODE: ASL
Slide 44: 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 45: 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 the 2012 JORC Code. For personal use only 2. Open pit resources are reported to a cutoff grade of 65g/t AgEq. 3. Pit optimisation shells were used to constrain t
Slide 46: World class silver assets
Appendix D - 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 S
Slide 47: 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 48: 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 49: 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) Cerro Negro^ Newmont Dec 31, 2023 Production 18,800 7.87 48 4,759
Slide 50: 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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