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Mitre Mining Corporation Limited ( (AU:ASL) ) just unveiled an announcement.
Andean Silver has reported strong new drilling results from the Cerro Bayo Silver-Gold Project in Chile, with high-grade silver-equivalent intercepts across the Appaloosa Breccia, Temer Vein and Coyita North vein systems. The results demonstrate broad mineralised zones and strong continuity, supporting potential open-pit and underground extraction options.
The company plans to incorporate these assays into a Mineral Resource update scheduled for the June quarter, targeting both overall resource growth and an increase in the Indicated and Measured categories. This updated estimate is expected to underpin restart studies for Cerro Bayo and advance Andean’s strategy of creating shareholder value through resource expansion and upgrading, backed by a solid cash position of about A$56.1m to fund ongoing drilling and economic evaluations.
The most recent analyst rating on (AU:ASL) stock is a Hold with a A$2.00 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 mineral exploration company focused on silver and gold, with its flagship Cerro Bayo Silver-Gold Project in Chile. The company is pursuing an accelerated drilling strategy at the Laguna Verde Mine Complex to expand and upgrade its existing 9.8Mt silver-equivalent resource, with the goal of transitioning from explorer to producer.
Average Trading Volume: 1,864,343
Technical Sentiment Signal: Buy
Current Market Cap: A$391.3M
For a thorough assessment of ASL stock, go to TipRanks’ Stock Analysis page.