Vancouver, British Columbia — January 15, 2026 — Leads & Copy — FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ) has identified a kilometer-scale zoned alteration cell at its Santas Gloria Project in Peru, according to a news release. The company owns 100% of the Santas Gloria Project.
The identification follows interpretation of new WorldView-3 (“WV-3”) short-wavelength infrared (“SWIR”) spectral alteration mineral mapping data (“WV-3 SWIR”).
According to the company, the alteration assemblage, zonation, and structural control are consistent with a well-developed intermediate-sulphidation epithermal (“ISE”) system.
Key points include:
- WV-3 SWIR data has defined a 1.3 km x 2 km zoned alteration cell, coincident with several mapped but fully undrilled vein systems which collectively total >5 km of strike length
- Alteration cell is strongly zoned and exhibits a mineral assemblage consistent with the expected architecture of a well-developed intermediate-sulphidation epithermal system:
- Sericite-dominant inner core with localized argillic overprint (kaolinite)
- Hematite-rich iron-oxide zones nested within the sericite-dominant core, interpreted as oxidation of sulphide-bearing structures along principal fluid pathways
- Broad, lower-temperature clay halo (montmorillonite) that expands away from the core
- Distal chlorite-epidote ± calcite alteration interpreted as propylitic wall-rock alteration
- The alteration cell core hosts a comparable spectral alteration mineral assemblage to the exposed high-grade San Jorge and Tembladera vein systems
- The alteration footprint is structurally controlled, forming an elongate corridor with clustered alteration pods, consistent with fault/fracture-focused fluid flow typical of ISE vein systems
- WV-3 SWIR mineral mapping provides a new, high-resolution targeting layer to prioritize follow-up work by focusing on core-domain areas with coincident sericite ± kaolinite and hematitic zones
- Results support immediate follow-up fieldwork to ground-truth alteration boundaries, refine structural interpretation, and conduct systematic sampling across core-to-halo transitions
- Phase 2 soil sampling over the southern half of the Project (incl. alteration cell) is to commence in March (1,430 samples), and assays from Phase 1 (1,037 soils) are anticipated in 2-3 weeks.
Colin Smith, CEO of First Andes Silver Ltd., said that the WorldView-3 interpretation has defined a large, kilometre-scale, zoned alteration cell that is coincident with known epithermal vein occurrences, and no prior drilling.
Smith added that First Andes is moving quickly into systematic field validation and soil geochemistry to define targets, and that he looks forward to the results of the ongoing metallurgical test work to further validate silver leachability in the oxide domains of the vein systems.
Dr. Christopher Wilson, Chief Geologist of First Andes Silver Ltd., stated that the zoning is consistent with the expected architecture of the uppermost part of an intermediate-sulphidation epithermal vein system, including a sericite ± kaolinite core with nested hematite-rich oxides, which grades outward to distal montmorillonite and propylitic chlorite-epidote ± calcite alteration.
The Company interprets the WV-3 SWIR alteration mapping to define a coherent, structurally controlled hydrothermal cell characterized by a sericite-dominant core, localized argillic overprint, outward clay zoning, and distal propylitic alteration. According to the company, this core-to-halo architecture is consistent with alteration patterns commonly developed in intermediate-sulphidation epithermal vein systems.
The presence of extensive hematite-rich iron-oxide zones nested within the sericite-dominant core is interpreted to reflect near-surface oxidation along structures that may have originally hosted sulphide-bearing veins and/or breccias.
The Company will focus follow-up work on the strongest parts of the alteration footprint, especially where sericite occurs together with hematite-rich iron oxides and localized kaolinite within the main cell. Additional priority will be given to the edges of the corridor where the alteration changes from sericite to montmorillonite, and to clustered “pods” and structural junctions.
First Andes will use the WV-3 products as a vectoring tool to advance and prioritize epithermal corridors by delineating loci of intense hydrothermal alteration. Immediate follow-up exploration to include:
- Field validation of alteration zonation and structural controls across the main cell and satellite pods;
- Phase 2 soil sampling in March (planned 1,430 samples) to expand geochemical coverage over the southern Project area; and
- Targeted rock-chip and/or channel sampling across priority alteration domains and any resulting soil anomalies to support subsequent drill targeting.
Property-wide (50 km2) WorldView-3 multispectral and SWIR imagery was captured in December 2025 over the Santas Gloria vein field and prospective extensions.
The WV-3 SWIR and visible near-infrared wavelengths are capable of detecting key alteration-related minerals, including clays, white mica/sericite, carbonate, and chlorite/epidote, as well as iron-oxide minerals such as hematite.
First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the Santas Gloria silver property, located 55 km east of Lima, Peru.
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com
Source: First Andes Silver Ltd.
