First Andes Silver - A Silver Discovery Story Built on Modern Tools and an Underexplored District
First Andes Silver is an exploration and development company focused on one of the most compelling propositions in the junior silver space: a district-scale, high-grade epithermal vein system inside Peru’s premier silver belt that remained virtually untouched by modern systematic exploration until 2024.¹
The Company’s flagship Santas Gloria Silver Project sits 55 kilometers east of Lima in the heart of the prolific Miocene epithermal belt — the same geological terrain that hosts producing operations of Pan American Silver, Hochschild Mining and Volcan Compañía Minera. Since taking the project in hand, First Andes has moved with discipline: two phases of diamond drilling, integrated 50 km² WorldView-3 satellite alteration mapping, and a multi-phase soil geochemistry program designed to convert a sprawling vein field into a ranked, drill-ready target inventory.²
“Santas Gloria remained virtually untouched by modern systematic exploration until 2024.” ¹
Recent Soil Sampling Success — A New Layer of Targets
In early 2026, the Company released the results of its Phase 1 property-wide soil sampling program, which covered 6.5 kilometers of cumulative vein strike across the northern half of the project. The results delineated multiple kilometer-scale silver-in-soil anomalies tracking known and suspected vein corridors, with the standout Kelly Anomaly emerging as the largest and most intense — measuring 850 by 400 meters, with peak values reaching 68.1 ppm silver. The Rosario and Paquita trends showed excellent multi-line continuity and suggested structural thickening at depth, while the integration of these soil results with WorldView-3 spectral mapping has produced a new pipeline of priority drill targets.³
“The results delineated multiple kilometer-scale silver-in-soil anomalies tracking known and suspected vein corridors.” ³
That backdrop sets the stage for the seven reasons investors are watching First Andes Silver closely heading into 2026.
WHY WATCH FIRST ANDES SILVER
1.
District-Scale Flagship in a Premier Silver Belt
First Andes Silver’s 1,100-hectare Santas Gloria Silver Project sits 55 kilometers east of Lima within Peru’s prolific Miocene epithermal belt, hosting a district-scale intermediate-sulphidation system with 23 mapped veins and cumulative strike length exceeding 12 kilometers.¹
2.
Exceptional High-Grade Mineralization
Underground channel samples have yielded results exceeding 16,000 g/t Ag, 20% Pb, 9.1% Zn and 1.27 g/t Au, with surface channel samples returning up to 56 g/t Au — grade signatures consistent with successful producing operations in the surrounding belt.¹
3.
Proven Drill Success Across Multiple Vein Systems
Across the first 26 diamond drill holes, 21 have returned significant silver intercepts, confirming in-situ mineralized epithermal vein systems at San Jorge, Tembladera, Maribel and Paquita — including 11 of 14 holes in the 2025 follow-up program targeting the high-grade San Jorge vein.²
“21 of the first 26 drill holes have returned significant silver intercepts.” ²
4.
First-Mover Advantage with Modern Exploration Tools
Santas Gloria remained largely untouched by systematic modern exploration until 2024. WorldView-3 satellite spectral mapping across a 50 km² area has now delineated a 1.3 x 2.0-kilometer zoned alteration cell overlapping more than 5 kilometers of undrilled vein strike — generating a new pipeline of high-priority targets.³
5.
Low-CAPEX Path to Production
The project benefits from a ~3-hour drive from Lima, proximal high-voltage power and water infrastructure, and is located within 40–50 kilometers of several operating mills in the Morococha Mining Camp with excess capacity — potentially eliminating the need to build a new plant. Early metallurgy on oxide samples returned over 97% gold and 82% silver recoveries.¹
“Over 97% gold and 82% silver recoveries on early oxide metallurgy.” ¹
6.
Geographic Diversification into Australia
First Andes recently closed the acquisition of three high-grade silver projects (Carrington, Stony Creek and Dartmoor) in New South Wales, covering 454 km² and at least 12 historic silver and gold mines in the world-class Lachlan Orogen — adding optionality across jurisdictions and commodity exposure.⁴
7.
Experienced Team, Tight Capital Structure and Clear 2026 Catalysts
A board and management team with collective M&A deal flow exceeding C$3.9 billion is supported by ~40% insider/close-associate ownership, a recently closed oversubscribed C$2 million financing, and DTC-eligible OTCQB listing under the symbol FASLF. With approximately 3,500 metres of Phase 3 drilling planned at Santas Gloria, Phase 2 soil geochemistry, Australian fieldwork initiation and continued metallurgical test work all scheduled through 2026, the Company is well-capitalized to deliver a steady cadence of catalysts.⁵
The Road Ahead: A Catalyst-Rich 2026
With Phase 1 soil results validating the geological model across the northern half of the project, First Andes has wasted no time launching the next sequence of work. Phase 2 soil sampling began in March 2026, targeting approximately 1,430 samples across the southern half of Santas Gloria — including the newly defined 1.3 by 2.0 kilometer alteration center identified from WorldView-3 data. Results from Phase 2, integrated with Phase 1 soil assays and high-resolution spectral mapping, will be used to rank and refine targets for the Company’s Phase 4 drill program.⁵
"Phase 2 soil sampling: ~1,430 samples across the project's southern half." ⁵
"Phase 3 drilling: ~3,500 metres planned for Q2/Q3 2026 at Tembladera and San Jorge." ²
Phase 3 Drilling — Testing the Sulphide Thesis
Management’s geological thesis is that the high-grade oxide mineralization observed at surface and in the drill core to date represents the upper portion of a well-preserved, fully intact sulphide system that remains open at depth.¹ The Phase 3 diamond drilling program — planned for Q2/Q3 2026 and comprising approximately 3,500 metres — is designed to test exactly that thesis. The program will focus on high-grade vein shoots along the Tembladera and San Jorge systems, with the potential to extend into additional veins property-wide. Concurrent metallurgical test work at SGS Lakefield will continue to assess the most economic processing flowsheet, including the potential to toll-mill ore through nearby Morococha facilities rather than building new plant capacity.²
Australia, Capital and Communications
Beyond Peru, fieldwork on the Lachlan Orogen portfolio will commence with stream-sediment and soil geochemistry to validate historic occurrences and prioritize first-pass drill targets across Carrington, Stony Creek and Dartmoor.⁴ Backed by the recently closed C$2 million financing, ~40% insider alignment and an expanded U.S. trading presence under FASLF, First Andes is also rolling out a dedicated corporate communications and investor relations program in 2026 — addressing what had previously been a market-awareness gap for a project of this scale and quality.
For investors seeking high-torque, discovery-driven exposure to silver, the combination of a proven exploration model, district-scale optionality and a near-term catalyst sequence makes First Andes Silver a story to watch closely through 2026 and beyond.
Sources
First Andes Silver — Santas Gloria Project Page: https://firstandes.com/project-page/
First Andes Silver Consolidates 2024–2025 Drilling Results, TMX Newsfile: https://www.newsfilecorp.com/release/272854/First-Andes-Silver-Consolidates-20242025-Drilling-Results-and-Prepares-for-Next-Phase-of-Exploration-Santas-Gloria-Project-Peru
First Andes Silver Reports Phase 1 Soil Assay Results, OTC Markets: https://www.otcmarkets.com/stock/MSLVF/news/First-Andes-Silver-Reports-Phase-1-Soil-Assay-Results-and-Delineates-Kilometre-Scale-Silver-in-Soil-Anomalies-Santas-Glo?e&id=3417961
First Andes Silver Closes Acquisition of Silver Projects in New South Wales, Australia, Nasdaq: https://www.nasdaq.com/press-release/first-andes-silver-closes-acquisition-silver-projects-new-south-wales-australia-2026
First Andes Silver Provides Exploration Program Update, Junior Mining Network: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2939-tsx-venture/fas/192902-first-andes-silver-provides-exploration-program-update-santas-gloria-project-peru.html