The Cerro Bayo mine is 100% owned by Andean Silver. The mine covers 285sq.km and comprises over 70 contiguous exploration concessions as well as surface properties that covers the areas of the Laguna Verde mining district and processing facilities.
The Cerro Bayo Project was in production for over 15 years, producing more than 45Moz Ag and 650koz Au (~99Moz AgEq). The Project has been on care and maintenance since October 2022.
Location
The Cerro Bayo mine is located 10km west of the town of Chile Chico in the Aysen region of Chile which is a 2.5hr commercial flight from Santiago that runs multiple times per day. Chile Chico has a population of ~4,000 people with skilled labour and major infrastructure including hospitals, schools and all weather road access to major deep-water regional ports.
Resources
The Cerro Bayo project has an underground high grade resource of 7.9Mt @ 361g/t for 92Mozg AgEq and open pit 12.1Mt @ 112g/t AgEq for 44Moz AgEq. This resource comprises the existing Taitao open pit resource and the high grade underground mines of Delia Sth and Coyita SE. The Resource is supported by significant historic mining over a number of years by both open pit and underground as well as significant investment in drilling and geological knowledge.
Mineral Resource Estimate as at 30 June 2026
Geology
The mineralization is typical of a low sulphidation type and is interpreted to be of a multi-stage, open space filling epithermal origin resulting in mineralized veins, stockworks and breccias. Two different mineralization events can be recognized at Taitao. A mesothermal early stage Ag-Mo-Zn-Pb with subordinated gold, well exposed in the Taitao and Breccia zones; and, a late stage typical epithermal gold-silver rich system, of the low sulfidation type, representative of the main mineralization stage of the district, represented by the NW trending Condor vein systems.
Two main vein systems are recognized at Laguna Verde. NS to NNE trending brecciated veins and breccias varying in dip from vertical to 45º E, and N15ºW to N35ºW oriented veins varying in dip between vertical and 75º NW and SE. Strike lengths up to 1.5km have been recognized in some of the vein systems evaluated to date. Widths are highly variable between the different vein systems and in individual veins along-strike and down-dip varying from centimetres up to 50 meters in breccias and stockworks (sheeted zones).
Exploration
There is extensive areas within the existing mine area as well as greenfields targets to support future resource growth. Approximately 50% of the tenure remains undrill tested with a further 25% under drilled. Established greenfield targets within the know tenure that have not been drill tested that will be targeted for future drilling includes the Raul West, Claudia Vein and Draught Master vein swarm.
Further greenfields exploration will be conducted East and Southeast of the Cerro Bayo Dome through to Sinter Hill where the topography increases and early stage programs such as IP and Magnetic surveys, Alteration studies and on ground mapping will need to be conducted to establish target zones. This area covers
Community
Heritage
Heritage
Andean Silver is delighted to announce its partnership with the Chile Chico municipality and the local community in constructing platforms designed to protect and preserve archaeological sites near our mine and the local town. These sites feature regionally significant rock art dating back over 3,500 years.
For the first time in Chile Chico, the joint efforts of the municipality, community members, and private capital are working together to protect and preserve our historical sites.
Our COO, Damien Koerber, and GM, Álvaro Fuentes, recently visited the site alongside the local mayor and community members to discuss the planned preservation efforts. These initiatives aim to safeguard the site while allowing access for future generations without causing damage.
