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Mitre Mining Corporation Limited ( (AU:ASL) ) has provided an announcement.
Andean Silver reported another strong quarter at its Cerro Bayo silver-gold project in southern Chile, where conversion and exploration drilling continued to intersect main mineralised zones and newly identified vein systems. With about 30,000 metres of drilling completed, the company plans a June quarter mineral resource update aimed at growing total resources and upgrading inferred material to the indicated category.
The new resource estimate will underpin ongoing economic studies assessing various mine restart options at Cerro Bayo, supported by the project’s extensive existing infrastructure and brownfields nature. Andean, which ended the March quarter with A$53.4 million in cash after a heavily subscribed share purchase plan, will keep four drill rigs operating beyond the June update to further de-risk the resource, test new targets and drive continued news flow for shareholders.
The most recent analyst rating on (AU:ASL) stock is a Buy with a A$5.40 price target. To see the full list of analyst forecasts on Mitre Mining Corporation Limited stock, see the AU:ASL Stock Forecast page.
More about Mitre Mining Corporation Limited
Andean Silver Limited is an Australian-listed exploration company focused on its 100%-owned Cerro Bayo silver-gold project in Chile’s Aysen Region. The project sits in a premier epithermal gold-silver province with substantial existing infrastructure and a long production history, positioning the company to leverage brownfields exploration and potential restart scenarios.
Average Trading Volume: 1,496,376
Technical Sentiment Signal: Buy
Current Market Cap: A$450.9M
Learn more about ASL stock on TipRanks’ Stock Analysis page.