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Mitre Mining Corporation Limited ( (AU:ASL) ) has shared an announcement.
Andean Silver has reported strong new drilling results from the Cerro Bayo project’s Laguna Verde Mine Complex in Chile, intersecting some of the thickest and highest-grade silver-gold mineralisation to date within 500 metres of the mill. The current accelerated drilling campaign is focused on expanding the existing 9.8Mt resource and upgrading Inferred material to Measured and Indicated categories to support project restart studies.
The company is evaluating combined open-pit and underground mining options at targets such as Appaloosa and the Temer vein complex, where drilling continues to extend known veins and discover new mineralised structures. Management says higher metal prices since project acquisition and a cash balance of about A$56.1m post-raising significantly strengthen Cerro Bayo’s economic outlook and underpin ongoing exploration and technical studies through 2026.
The most recent analyst rating on (AU:ASL) stock is a Sell with a A$1.50 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 Australia-listed exploration company focused on developing the Cerro Bayo silver-gold project in Chile. The company targets growth in high-grade silver and gold resources with a view to transitioning from explorer to producer, supported by a substantial existing mineral resource base and a strong cash position after recent capital raisings.
Average Trading Volume: 2,190,521
Technical Sentiment Signal: Buy
Current Market Cap: A$368.5M
Learn more about ASL stock on TipRanks’ Stock Analysis page.