Aftermath Silver Ltd Announces New OTCQB Trading Symbol AAGFF
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2020) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) ("Aftermath" or the "Company") is pleased to announce that the Company's OTCQB trading symbol has changed, effective at the open on January 7, 2020, from FLMZF to AAGFF. The Company will continue to trade on the Toronto Stock Exchange Venture under the symbol "AAG".
Trading the Company's shares on the OTCQB Market provides Aftermath Silver with a dealer market in the United States that will provide easier access for US based investors and shareholders. The OTCQB Market through its SEC registered OTC Link ATS features over 110 US broker-dealers. Aftermath has also applied for Depository Trust Company (DTC) eligibility. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies.
Aftermath has acquired 2 silver projects in northern Chile and is currently designing exploration programs for both projects.
Cachinal Project, Chile
Cachinal is located in Chile's Antofagasta Region (Region II), about 40 km east of the Pan American Highway, at an elevation of around 2,700 m above sea level, and 16 km north of Austral Gold's Guanaco gold-silver mine. It is a low-sulphidation epithermal deposit which hosts a current CIM compliant1 18.4 million silver ounces Indicated Mineral Resource (5.66 million tonnes of 101 g/t) and 3 million silver ounces Inferred Mineral Resource (0.82 million tonnes of 115 g/t), with associated gold credit.
Challacollo Project, Chile
The Challacollo project is located in Chile's Tarapaca Region (Region I). The project is approximately 30 km east of the Pan American Highway. Challacollo is a low-sulphidation epithermal deposit which hosts an historic Mineral Resource2 of 30 million silver ounces Indicated (4.7 million tonnes at 200 g/t silver) and a 6.9 million silver ounces Inferred (1.6 million tonnes of 134 g/t), with associated gold credits. Power transmission lines are located 15-30 km from the property and includes water rights.
Peter Voulgaris, MAIG, MAusIMM, a consultant to the Company, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this news release, and consents to the information provided in the form and context in which it appears.
About Aftermath Silver Ltd:
Aftermath Silver Ltd. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on silver in Chile. The Company is focused on growth through the discovery and acquisition of quality projects in stable jurisdictions. Aftermath Silver continues to seek new opportunities to take advantage of the current silver price.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Rushton, CEO/President
The TSX Venture Exchange / OTCQB does not accept responsibility for the adequacy or accuracy of this release.
Notes on Mineral Resources
1. Cachinal Mineral Resource: For full details please see the October 30, 2019 National Instrument 43- 101 ("NI 43-101") Technical Report entitled "Amended and Restated Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile." Prepared by the qualified persons Cole, G and Couture, J. of SRK Consulting (Canada) Inc. for Aftermath Silver (the "Technical Report"). A copy of the Technical Report can be found on the Company's SEDAR profile at www.sedar.com.
2. Challacollo Historic Mineral Resource: An independent "Qualified Person", as defined in NI 43- 101, has not done sufficient work on behalf of Aftermath to classify the historical estimate as a current indicated or inferred mineral resource, and Aftermath is not treating the historical estimate as a current mineral resource. For full details please see the March 2015 43-101 Technical Report "NI 43-101 Technical Report for the Challacollo Silver Project, Region 1, Chile" QPs Mroczek, M., Collins, and M., Butler, S. of Mining Plus Canada Consulting Ltd. and Tapia, J.C., of Sedgeman S.A. Prepared for Mandalay Resources, available on the Mandalay Resources SEDAR profile.
- Challacollo mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005).
- Mineral Resources are estimated at a cut-off grade of 60 g/t Ag.
- Mineral Resources are estimated using a silver price of US$24/oz, a gold price of US$1,400 per ounce, metallurgical recoveries of 92% for silver and 75% for gold, and operating costs of US$50 per tonne.
- A density of 2.45 g/cm3 is used as a base density with adjustments according to the variation of the estimated barium, lead and zinc grades.
- No capping of Ag grades has been applied due to low grade variability. Au grades have been capped at 3 g/t for two sample composites 4.57 g/t Au and 4.11 g/t Au respectively.
Forward Looking Statements
Certain statements within this news release, other than statements of historical fact relating to Aftermath Silver, are to be considered forward-looking statements with respect to the Company's intentions for the Cachinal Project in Chile. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, or include words such as "expects", "goal", "potential", "anticipates", "plans", "believes", "considers", "significant", "intends", "targets", "estimates", "seeks", attempts", "assumes", and other similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Aftermath Silver Ltd, are, by their nature, subject to inherent risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include: the interpretation of previous and current results, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance these acquisitions further exploration and development, delays in the completion of exploration, the future prices of silver and gold, and other metals, and general economic, market and/or business conditions. There can be no assurances that such statements and assumptions will prove accurate and, therefore, readers of this news release are advised to rely on their own evaluation of the information contained within. In addition to the assumptions herein, these assumptions include the assumptions described in Aftermath Silver Ltd's Management's Discussion and Analysis for the three months ended August 31, 2019, as filed with the TSX Venture Exchange and available on SEDAR under Aftermath's profile at www.sedar.com.
Although Aftermath Silver Ltd. has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking statements, there may be other risks, uncertainties and other factors that cause future performance to differ from what is anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Aftermath Silver Ltd. does not assume any obligation to update any forward-looking statements after the date on which such statements were made, except as required by applicable law.
Cautionary Note to US Investors
This news release has been prepared in accordance with the requirements of Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (''NI 43-101'') and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.
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