# First Andes Silver Provides Exploration Program Update, Santas Gloria Project, Peru

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90

Original source: https://money.tmx.com/en/quote/FAS/news/7702717616654892/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per

Publisher: tmx

Original announcement: 2025-12-08T13:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas 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 factor: Phase 1 soil sampling completed ahead of schedule and under budget

- Positive factor: High quality WorldView-3 satellite data capture

- Positive factor: Metallurgical testwork underway on Ag-Pb-Zn-Au oxide vein

- Negative factor: No new assay results reported in this update

Facts used in scoring: 5

## Classification and evidence

**QA/QC Disclosed**

Polarity: positive

Story-specific tag

Definition: 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 Signed**

Polarity: positive

Story-specific tag

Definition: 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 Route**

Polarity: neutral

Definition: Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route \("gravity"\)

**Multi-Domain Tested**

Polarity: positive

Definition: 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 1

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90#fact-metallurgical-facts-0)

silver

Historical result

Needs review: historical\_restatement

#### 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 factor: 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 2

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90#fact-metallurgical-facts-1)

gold

Historical result

Needs review: historical\_restatement

#### 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 factor: 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 Recovery**

Polarity: positive

Definition: 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 3

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90#fact-metallurgical-facts-2)

silver

Historical result

Needs review: historical\_restatement

#### 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 factor: 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 4

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90#fact-metallurgical-facts-3)

gold

Historical result

Needs review: historical\_restatement

#### 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 factor: 98.8% recovery is exceptional

Evidence · text

> whole-material cyanidation recoveries of 98.8% for gold

#### Tags used in scoring

**High Recovery**

Polarity: positive

Definition: 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 5

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-andes-silver-provides-exploration-program-update-santas-gloria-project-per--24718bcd-0eee-4616-b835-a11464d01a90#fact-metallurgical-facts-4)

silver

Historical result

Needs review: historical\_restatement

#### 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 factor: 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 Recovery**

Polarity: negative

Definition: 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.