Berenguela's Silver Bonanza: Why Aftermath Silver's High-Grade Discovery Spells Opportunity

The mining sector is abuzz with Aftermath Silver's (ASLTF) latest results from its Berenguela silver-copper-manganese project in Peru. Recent drill highlights, including a 7.7-meter intercept grading 1,174 g/t silver, underscore the deposit's potential to redefine its resource boundaries—and investor expectations. With critical metals in soaring demand for clean energy and battery tech, Berenguela isn't just another silver play. It's a strategic asset poised to capitalize on a structural shift in global commodity markets. Here's why investors should act now.

The Expansion Play: A Deposit with Legs

The Phase 2 drill program has delivered a masterclass in resource growth. Key highlights include:
- Strike length extension to 1,550 meters, closing a prior 100-meter gap and demonstrating continuity of mineralization.
- High-grade silver zones such as AFD130's 35.55-meter interval (322 g/t Ag), which lies outside the 2023 resource boundary.
- Polymetallic potential: Intersections like AFD123's 30.3-meter copper-manganese zone (0.94% Cu, 11.39% Mn) highlight the deposit's ability to generate byproduct credits.

This isn't incremental growth—it's transformative. With only 16 of 82 Phase 2 holes reported, the full resource update (expected shortly) could push Berenguela into the top tier of global silver deposits. The deposit's fold-and-fault structure, hosting manganese oxide replacements enriched in Ag, Cu, and Zn, suggests further discoveries along its 1.5km strike.

Critical Metals: The Fuel of the Energy Transition

The real kicker? Berenguela isn't just a silver story. Its manganese and copper grades align with U.S. and EU critical mineral lists, materials essential for EV batteries, wind turbines, and solar panels.

• Manganese: A key component in lithium-ion batteries, with demand forecasted to surge 10x by 2030 (Benchmark Minerals). Berenguela's 17.43% Mn intercepts (AFD071) could position it as a rare North American source.
• Copper: Over 50% of copper demand by 2035 will come from renewables (IEA). Berenguela's 2.19% Cu grades (AFD071) offer a low-cost, high-margin byproduct stream.

Why Now? The Investment Thesis

1. De-risked exploration: Aftermath has already closed a major strike gap and extended mineralization beyond historical limits. The deposit's structure is well-defined, reducing exploration risk.
2. Infrastructure advantage: Located near roads, rail, and power lines, Berenguela avoids costly logistics hurdles. Its proximity to the Port of Matarani further streamlines exports.
3. Funding secured: Warrant exercises have raised CAD $460k, fueling metallurgical tests and resource modeling. The company's option to acquire 100% ownership from SSR Mining (SSLVF) by mid-2026 adds clarity.
4. Technical strength: Rigorous QA/QC (96% core recovery, ISO-accredited labs) ensures assay reliability. The deposit's true-thickness intersections (drilled perpendicular to stratigraphy) reduce dilution risk.

The Call to Action

With silver prices hovering near $25/oz (a 20-year high) and critical metals in a supply crunch, Berenguela's timing couldn't be better. The upcoming resource update—likely to boost inferred resources into indicated/measured categories—could trigger a re-rating.

Investors should take note: This is a high-impact, low-cost opportunity to gain exposure to silver and critical metals at a pivotal inflection point. With a market cap of just $26M (as of May 2025), even modest resource upgrades could unlock massive upside.

Final Verdict

Aftermath Silver's Berenguela project is more than a drill result—it's a strategic asset in the clean energy revolution. With its high-grade intercepts, critical metal content, and scalable infrastructure, this deposit has all the ingredients for a multi-year bull run. For investors seeking exposure to the energy transition, now is the time to act.

The next phase of Berenguela's story could redefine Aftermath Silver's valuation—and your portfolio.

Disclosure: This analysis is for informational purposes only and not financial advice. Always conduct independent research or consult a professional before making investment decisions.