First Andes Silver Provides Exploration Program Update, Santas Gloria Project, Peru
Original announcement by tmx on
- Company
- First Andes Silver Ltd.
- Ticker
- FAS
- Exchange
- TSX
- Region
- Peru
- Primary commodity
- Silver
- Secondary commodities
- Lead, Zinc, Gold
- Document categories
- Metallurgy, Other
- Extracted
- 2026-09-12 04:49:51 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
First Andes Silver has completed Phase 1 soil sampling at the Santas Gloria Project in Peru ahead of schedule and under budget. The company is also conducting metallurgical testwork on a 15kg oxide vein sample from drill hole SG003 and has successfully acquired high-resolution satellite imagery for alteration mapping.
Reasoning: The release is a programmatic update on exploration progress (soil sampling and satellite mapping) and the commencement of metallurgical testing, rather than a disclosure of new drill intercepts or resource estimates.
Positive factors
- Phase 1 soil sampling completed ahead of schedule and under budget
- High quality WorldView-3 satellite data capture
- Metallurgical testwork underway on Ag-Pb-Zn-Au oxide vein
Negative factors
- No new assay results reported in this update
Facts used in scoring: 5
Classification and evidence
QA/QC Disclosedpositive · Story-specific tag
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release mentions high data quality QA/QC for the WorldView-3 satellite capture.
Evidence · text
“100% clean, unobstructed capture, translating to high data quality QA/QC”
QP/CP Signedpositive · Story-specific tag
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Colin Smith, P.Geo., a Qualified Person under NI 43-101, has reviewed and approved the technical information.
Evidence · text
“Qualified Person Colin Smith, P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 3 distinct composites were tested
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Metallurgical Results (5)
Fact 1silverRecovery: 80 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- FAS
Test Work
- Sample
- prior leaching results on upper-level oxide mineralization
Recovery
- Recovery
- 80 %
- Recovery Basis
- unspecified
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-08-09T00:00:00.000Z
Dates
- Event date
- 2025-12-08T00:00:00.000Z
Reasoning: Historical recovery result cited for context.
Positive factors
- 80% recovery is a solid baseline for oxide leaching
Evidence · text
“prior leaching results indicated a +80% Ag recovery to solution on upper-level oxide mineralization (see news release dated August 9, 2021)”
Fact 2goldRecovery: 97 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- FAS
Test Work
- Sample
- overall gravity plus cyanidation recoveries on oxide sample
Recovery
- Recovery
- 97 %
- Recovery Basis
- unspecified
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-08-09T00:00:00.000Z
Dates
- Event date
- 2025-12-08T00:00:00.000Z
Reasoning: Historical recovery result cited for context.
Positive factors
- 97% recovery is exceptional for gold
Evidence · text
“returned overall gravity plus cyanidation recoveries of more than 97% for gold”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 97% is at or above the exceptional band (95%)
Fact 3silverRecovery: 82 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- FAS
Test Work
- Sample
- overall gravity plus cyanidation recoveries on oxide sample
Recovery
- Recovery
- 82 %
- Recovery Basis
- unspecified
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-08-09T00:00:00.000Z
Dates
- Event date
- 2025-12-08T00:00:00.000Z
Reasoning: Historical recovery result cited for context.
Positive factors
- 82% recovery is strong for silver
Evidence · text
“returned overall gravity plus cyanidation recoveries of more than 97% for gold and 82% for silver”
Fact 4goldRecovery: 98.8 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- FAS
Test Work
- Sample
- whole-material cyanidation recoveries on oxide sample
Recovery
- Recovery
- 98.8 %
- Recovery Basis
- unspecified
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-08-09T00:00:00.000Z
Dates
- Event date
- 2025-12-08T00:00:00.000Z
Reasoning: Historical recovery result cited for context.
Positive factors
- 98.8% recovery is exceptional
Evidence · text
“whole-material cyanidation recoveries of 98.8% for gold”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.8% is at or above the exceptional band (95%)
Fact 5silverRecovery: 71.2 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- FAS
Test Work
- Sample
- whole-material cyanidation recoveries on oxide sample
Recovery
- Recovery
- 71.2 %
- Recovery Basis
- unspecified
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-08-09T00:00:00.000Z
Dates
- Event date
- 2025-12-08T00:00:00.000Z
Reasoning: Historical recovery result cited for context.
Negative factors
- 71.2% is moderate/weak for silver cyanidation
Evidence · text
“whole-material cyanidation recoveries of 98.8% for gold and 71.2% for silver”
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 71.2% is below the weak band (75%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.