Aftermath Silver Drilling At Berenguela Returns Multiple High Grade Copper and Silver Intercepts Including 48.5m @ 438g/t Ag + 2.22% Cu

Published

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to provide the first batch of assay results from its Phase 3 diamond drill program at its 100% owned Berenguela silver-copper-manganese deposit located in the Department of Puno in southern Peru.

Results are included for 17 holes totalling 1,061.6m from the initial 45-hole (3,000m) program of diamond core drilling which the company opted to increase to 90 holes totalling 6,000m due to positive geological results, drill rig availability, and ease of access for the smaller diamond drill rig. The original 2,000m RC program was replaced by diamond drilling at a similar cost but with improved opportunity to obtain geological data and geotechnical logging. The reported holes are primarily in fill drilling along a 225m strike length within the limits of the existing resource, aimed a delineating high-grade mineralization, close to surface, suitable for mining as a starter pit in the planned future mining operations. Drill plans, sections and summary drill logs are available on Aftermath's website here. (https://aftermathsilver.com/projects/berenguela/plans-and-sections/)

Highlights of the current drilling include:

  • AFD152 returned 48.5m @ 438 g/t Ag + 2.22% Cu + 24.9% Mn from 26.5m downhole;
  • AFD155 returned 70.0m @ 230 g/t Ag + 1.81% Cu + 10.9% Mn from surface;
  • AFD160 returned 45.8m @ 528 g/t Ag + 1.48% Cu + 15.7% Mn from surface

including 29.5m @ 737 g/t Ag + 1.71% Cu + 20.0% Mn from 18.4m downhole;

  • AFD162 returned 11.4m @ 1,042 g/t Ag + 2.05% Cu + 7.3% Mn from 11.8m downhole;

Ralph Rushton, President and CEO, commented, "Our third phase of drilling was planned with the Berenguela prefeasilbity study in mind. We are infilling and delineating near-surface, high-grade silver-copper mineralization in the western part of the mineral resource where future open pit mining may begin. These are some of the best drill intercepts we've seen to date in our 3 phases of drilling and we are particularly pleased with the strong copper association that accompanies our silver."

Full results are given for 17 holes in that the table below and a table of collar coordinates and hole azimuths is appended at the end of this release. Drill collar plans and cross sections are available at this link: https://aftermathsilver.com/projects/berenguela/plans-and-sections/.

Table 1. Assay results holes AFD146-162

Hole From To Width1 (m) Ag g/t Cu % Mn % Zn % Recovery (%) Voids*
AFD146 0.00 15.15 15.15 109 1.33 2.00 0.14 92.3 0
AFD147 No significant mineralization
AFD148 0.00 4.10 4.10 142 0.67 10.51 0.45 65.9 0
and 19.30 31.30 10.00 260 2.32 24.96 0.45 100.0 2.0
AFD149 21.70 25.10 3.40 420 2.66 16.45 0.43 100.0 0
AFD150 0.00 49.80 45.30 202 2.31 12.59 0.34 95.9 4.5
Inc. 24.60 36.90 10.80 427 3.28 20.76 0.39 100.0 1.5
AFD151 0.00 35.40 30.90 240 1.23 13.51 0.69 86.1 4.5
Inc. 18.40 25.75 7.35 576 2.09 27.11 1.19 96.6 0
AFD152 0.00 9.65 9.65 231 1.80 8.86 0.47 100.0 0
and 26.50 79.50 48.50 438 2.22 24.88 0.57 93.7 4.5
AFD153 0.00 23.20 21.70 218 2.06 8.80 0.37 97.3 1.5
AFD154 0.00 5.10 5.10 223 2.10 12.55 0.59 88.3 0
and 11.90 39.90 23.00 118 1.77 6.48 0.19 88.3 5.0
AFD155 0.00 78.80 70.00 230 1.81 10.91 0.42 97.7 8.8
Inc. 5.70 28.60 19.10 146 2.78 7.19 0.28 100.0 3.8
Inc. 28.60 44.60 14.00 570 1.86 23.45 0.71 100.0 2.0
AFD156 0.00 15.55 13.55 180 2.11 13.03 0.59 87.1 2.0
and 25.45 49.50 24.05 47 2.30 6.10 0.24 100.0 0
and 54.90 60.80 5.90 12 1.11 4.29 0.13 94.4 0
AFD157 0.00 38.75 37.25 371 2.26 19.71 0.96 92.8 1.5
Inc. 16.05 36.60 20.55 545 2.50 20.23 1.14 94.9 0
AFD158 0.00 8.00 8.00 77 1.90 13.10 0.63 82.5 0
and 12.40 25.10 10.70 53 1.74 6.80 0.33 84.2 2.0
AFD159 0.00 55.20 46.90 312 1.60 14.70 0.57 93.2 8.3
Inc. 22.30 49.60 23.50 498 1.49 20.46 0.69 97.2 3.8
AFD160 0.00 54.70 45.80 528 1.48 15.72 0.67 94.1 8.9
Inc. 18.40 53.80 29.50 737 1.71 19.96 0.81 91.9 5.9
AFD161 2.70 15.10 10.40 121 0.65 8.25 0.51 100.0 2.0
and 23.80 74.75 50.95 174 1.47 10.49 0.35 100.0 0
Inc. 45.90 56.10 10.20 313 2.37 15.76 0.34 100.0 0
and 80.90 103.15 22.25 190 0.49 3.19 0.13 100.0 0
AFD162 0.00 39.10 35.80 371 1.68 8.06 0.42 93.6 3.3
Inc. 11.80 25.00 11.40 1,042 2.05 7.31 0.39 93.1 1.8
Inc. 30.90 39.10 8.20 16 2.80 9.28 0.28 93.9 0

 

*Reported intersection widths are shorter than total widths drilled where voids due to historic underground mining activity were encountered during drilling. Voids were measured and discounted from the intersection width with no dilution of the reported grades. In AFD148 a void of 2.0m was encountered in an area of near-surface workings resulting in an intersection width of 10.00m. In AFD150 voids 3.0m and 1.5m were encountered in an area of workings resulting in an intersection width of 49.80m. In AFD151 a void of 1.5m was encountered in an area of near-surface workings "glory hole"and 3.0m at depth resulting in an intersection width of 35.40m. In AFD152 voids of 3.5m and 1.0m were encountered in an area of sub-surface workings resulting in an intersection width of 48.50m. In AFD153 a void of 1.5m was encountered in an area of near-surface workings resulting in an intersection width of 21.70m. In AFD154 a void of 5.0m was encountered in area of cross-cutting sub-surface workings resulting in an intersection width of 23.00m. In AFD155 voids of 1.8m and 3.80m were encountered in an area of near-surface workings "glory holes", and voids of 2.0m and 1.20m at depth, resulting in an intersection width of 70.00m. In AFD156 a void of 2.0m was encountered in an area of near-surface workings resulting in an intersection width of 13.55m. In AFD157 a void of 1.5m was encountered in an area of near-surface workings "glory hole" resulting in an intersection width of 37.25m. In AFD158 a void of 2.0m was encountered in an area of sub-surface workings resulting in an intersection width of 10.70m. In AFD159 a void of 1.0m was encountered in an area of near-surface workings, 2.0m and 1.80m under open pit, and 3.0m in main Berenguela drive, resulting in an intersection width of 46.90m. In AFD160 a void of 2.0m was encountered in an area of near-surface workings "glory hole", 2.50m, 2.0m, and 1.70m at depth resulting in an intersection width of 45.80m. In AFD161 a void of 2.0m was encountered in an area of near-surface workings "glory hole" resulting in an intersection width of 10.40m. In AFD162 voids of 1.8m and 1.5m were encountered in an area of sub-surface workings resulting in an intersection width of 35.80m. Berenguela mining: from 1913 until 1965 approximately 500,000 tons was mined from 17,700m of underground workings and open pit operations which equates to roughly 1.0% of the 2025 M&I resource inventory. Aftermath obtained complete plans of underground workings which were incorporated into resource modelling where practical and appropriate underground mining depletion was subtracted from the mineral resource. All open pits have been surveyed in detail as part of the general site layout that defines topography and surface mining depletion. 1 The drilling was carried out at a high angle to the stratigraphically controlled mineralization and intersections can be assumed to equate approximately to true thickness. Where, in this release, drilling was drilled 20 degrees north of the main Berenguela strike direction, massive mineralisation was observed consistent with surface outcrops and the historic surface mining in open pits - see details below.

Drillhole recoveries in the mineralized intersections returned a weighted average of 95%. Some lower recoveries were returned close to surface (0 to 5m) in initial drilling runs, and around some underground workings. Drilling was generally carried out at a high angle to mineralization controls, except where noted in drill log descriptions, and intersections are assumed to approximately equate to true thicknesses due to the massive nature of the mineralisation and synformal configuration. Holes drilled at roughly 20 degrees north of the main Berenguela strike direction returned consistent intersections backed up by surface geology demonstrating the massive replacement nature of the mineralisation in Domain 1 adjacent to the main structures.

For example, holes AFD159, AFD160, AFD161, and AFD162 were drilled from the same drill pad with azimuths 90 degrees apart and all returned significant widths and grades of mineralisation confirming the massive nature of the mineralisation in the western part of Berenguela (western limit of Domain 1). The area is characterised by multiple old near surface workings in the form of open pits or shallow "glory holes", and underground mining voids were intersected as noted in the results table. The voids were as expected from old mining plans and, for example, the main Berenguela drive was intersected in its projected position in AFD148 and AFD149. During resource calculations a three-dimensional model of the mining voids is subtracted from resources. Drill sections and summary logs for each hole are available on Aftermath's website (www.aftermathsilver.com) or by clicking here.

Objectives of drilling

The original drill program consisted of 4,000m of diamond drilling and 2,000m of RC drilling. This has now been converted, at similar cost estimates between methods, to 6,000m of diamond drilling to take advantage of rig availability and the more agile diamond rig and associated equipment in the Andean summer rainy season at Berenguela. The diamond drilling to date, (results this release), are principally from a 225m strike length of mineralisation in the northern part of Domain 1 (see map) close to the small historical western and eastern open pits. The large diameter PQ drilling is designed to convert indicated to measured resources in an area where mining will likely begin, and to obtain metallurgical samples of higher-grade ores to optimise the metallurgical recovery process for this material.

The rest of the drill program is designed to obtain similar higher-grade material from Domain 2, drill the SW Intrusive and the Copper East targets, and carry out geotechnical drilling around the mining area for studies.

Geology

The host stratigraphy at Berenguela comprises folded thickly bedded, light grey limestones and dolomitized limestones. Several large bodies of black massive, patchy, and fracture-controlled manganese oxide replacement mineralization with associated silver, copper, and zinc enrichment, occur in the folded limestones. Mineralization largely follows stratigraphy and is typically conserved as eroded synform or antiform remnants, usually exposed at surface and with fold axes trending 105-120 degrees. Generally, the limestone is underlain by a transitional arenite unit overlying evaporites in footwall formations. In the area covered by this release, the eastern margin of mineralization, the arenites and evaporites were not generally encountered suggesting the limestone sequence is thickening eastward and downfaulted in blocks.

Historical mapping and resource modelling shows mineralization to extend for roughly 1,300m along strike. The recent drilling has extended the strike length to at least 1,550m with a maximum width of 400m in the central part, 250m in the western part, and 50m in the faulted section between the western and central parts. This includes a previous 100m gap or discontinuity now closed by drilling. The drilling was carried out at a high angle to the stratigraphically controlled mineralization, including fold axes, and intersections are approximately true thickness. The geology of each hole is summarized here.

QA/QC

Sample preparation and assaying was carried out in Peru by ALS Peru S.A ("ALS"). ALS preparation facilities in Arequipa and assaying facilities in Lima both carry ISO/IEC 17205 accreditation. Logging and sampling were carried out by Aftermath geological staff at the Limon Verde camp in Santa Lucia. Samples were transported to Arequipa and delivered to ALS for preparation and subsequent assaying of pulps in Lima.

During the preparation stage, quartz-washing was performed after each sample to prevent carry-over contamination. Initial assaying was done using a four-acid digestion and ICP-AES multielement analysis for 31 elements. Over limit samples (Ag > 100 g/t, Mn>8,000 ppm, Cu/Zn >10,000ppm) were reanalysed using 4 acid-digestion and ore-grade ICP-AES analysis. Any Ag samples reporting >1,500 g/t Ag are further analysed using fire assay with gravimetric finish. Any Ag samples reporting >10,000 g/t are further analysed using concentrate assay methods.

A selection of pulps will be submitted to an umpire laboratory to perform check analyses and verify QA/QC implemented in the project. Every batch of 20 samples submitted for assay contained 1 certified reference material (CRM), 1 coarse blank, 1 pulp blank and 1 duplicate core sample, OR 2 CRMs, 1 coarse blank, 1 duplicate core sample. Aftermath commissioned OREAS to prepare 3 different CRMs made from samples of Berenguela mineralization, so they are compositionally matched to the mineralized core. In the assays performed for this news release, 77 CRMs and 55 coarse blanks were inserted and 4 elements checked (Ag/Cu/Mn/Zn) - a total of 528 checks in total.

The CRMs generally performed well, and 10 CRM fails were observed in total. 3 fails were reported for low range Ag, and 6 for low range Mn. Mid-range Cu, Mn and Ag CRMs reported to specification limits. 1 fail was reported for mid-range Mn. High grade Cu and Ag CRMs reported to specification limits. No fails were reported for Cu. All pulp blanks and coarse blanks reported to specification limits. 47 duplicate samples were submitted and >80% reported repeat assays with a difference

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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