Andean Silver Limited · ASX:ASL
Andean Silver — RRS Summer Series Brisbane Conference (February 2025)
36 slides from Andean Silver's conference presentation, Feb 13, 2025
Slide 1: Cerro Bayo Silver-Gold Project, Chile
For personal use only Cerro Bayo Silver-Gold Project, Chile SCALE – GRADE - INFRASTRUCTURE February 2025
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: Cerro Bayo - Growing a Major Silver/Gold Project
Cerro Bayo - Growing a Major Silver/Gold Project Exploration success to drive mine restart … For personal use only Scale – 91Moz AgEq OR 1.09 Moz AuEq and growing * Grade – Impressive 342g/t AgEq OR 4.1g/t AuEq * Infrastructure - in place ready to go Newsflow rich – Host of exceptional dri
Slide 4: Cerro Bayo – A World Class Endowment
Cerro Bayo – A World Class Endowment Drilling is growing Cerro Bayo into a Major Silver/Gold Project For personal use only Deseado Massif World-Class Province +60sq KM Epithermal Gold-Silver Province Spanning Chile & Argentina Established Mining Services Sector 5 Operating* Silver-Gold Mines Establi
Slide 5: Board and Management
Board and Management Proven Leadership Team at growing shareholder value … 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 Ko
Slide 6: Corporate structure
Corporate structure Well funded with strong support from foundation shareholders … SHARE PRICE PERFORMANCE SINCE ACQUISITION CAPITAL STRUCTURE For personal use only 1.80 10,000,000 Shares on issue 1 158.7 M 1.60 9,000,000 Share Price (AUD $ per share) 1.40 8,000,000 Options & Performance Rights 2 25
Slide 7: Silver – Powering The Future
Silver – Powering The Future World silver stockpiles falling as demand growth continues … 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 Cir
Slide 8: Cerro Bayo Overview
For personal use only Cerro Bayo Overview ASX CODE: ASL
Slide 9: Cerro Bayo Project Overview
Cerro Bayo Project Overview Existing operation with significant exploration upside … For personal use only Rapid Low-Cost Growth through the Drill Bit › Existing permitted 500ktpa mill facility › >100Moz AgEq produced historically › 3 Drill rigs currently on the ground › Targeting growth, conversion
Slide 10: Infrastructure Overview
Infrastructure Overview Operating mine on warm stack at Laguna Verde … 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 11: Laguna Verde District Resource
Laguna Verde District 65 Moz AgEq Resource @ 328 g/t AgEq * and Growing … For personal use only Major mineralized system, multiple untested veins Veining extending over 16km2 Relatively shallow – Deepest drilling ~300m Multiple untested targets System not closed off Taitao High Grade Base Feed • JOR
Slide 12: Cristal Discovery
Cristal Discovery Drilling results to be incorporated into Q1 CY25 MRE update … 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 @
Slide 13: Pegaso – Future Resource Growth
Pegaso 7 – Future Resource Growth Drilling targeting infill and 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 @ 1,8
Slide 14: Coyita Trend – Exceptional Value
Coyita Trend – Exceptional Value Drilling commenced in December 2024 … 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 Exte
Slide 15: Cerro Bayo District Resource
Cerro Bayo District 25 Moz AgEq Resource @ 387 g/t AgEq * and 7km from Processing Plant … For personal use only Historic Production of 48.3Moz AgEq District scale project area Extensive Surface outcrop veins discovered New discoveries still being made Key features • Significant amount (~60%) of the
Slide 16: 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 And 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 sit
Slide 17: 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 18: Regional Exploration and Growth
For personal use only Regional Exploration and Growth ASX CODE: ASL
Slide 19: Cerro Bayo Project – Discovery & Production History
Cerro Bayo Project – Discovery & Production 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 an
Slide 20: Cerro Bayo District – New discoveries
Cerro Bayo District – 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 E
Slide 21: 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 22: 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 23: Geophysical Program – Block Results
Geophysical Program – Block 1 Results For personal use only Claudia/Guanaco Pampa de Pera Claudia/Guanaco Cerro Bayo Pampa de Pera Raul/Marcella trend Initial orientation lines conducted over the known Cerro Bayo deposits Excellent correlation of resistivity lows against known trends (Marcella/Raul
Slide 24: Regional Targets – Los Domos
Regional Targets Los Domos – polymetallic extension play 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 t
Slide 25: Regional Targets – Cerro Diablo
Regional Targets Cerro Diablo – untested VMS style mineralisation › 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 dril
Slide 26: 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 • 3 x Drill rigs on the ground Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Evaluation of Historic Data • Planning to increase to 4 by Q2 2025 Resource Ex
Slide 27: 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 28: Establishing Strong Social Presence
Appendix A 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
Slide 29: 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 30: 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 31: 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 32: 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 San
Slide 33: 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 34: 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 35: 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 36: 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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