Overview

Berenguela is a silver-copper project located in the Altiplano of south-eastern Peru in the Department of Puno at an elevation of 4,200m, approximately 50km southwest of the city of Juliaca and 6km northeast of the town of Santa Lucia. Aftermath completed a first stage drill program in May, 2022 with 63 diamond core holes for a total of 6,168m of drilling. The program was planned as a combination of resource verification, metallurgical sampling, and confirmation of some historical RC holes. Aftermath's technical team is incorporating the new drilling into a revised geological interpretation of the Berenguela mineralization which will be used to complete a new NI 43-101 compliant mineral resource estimate later in 2022.

It benefits from excellent infrastructure with water resources, grid power, potable water supply, and skilled labour in the local communities. A railway loading station is located at Santa Lucia, connecting to the port of Matarani on the Pacific coast. Santa Lucia is connected to the national grid at 220 Volts.

It is an epithermal polymetallic carbonate-replacement deposit. The mineralisation is present from surface to a depth of about 100 m. The deposit has a known strike length of 1.4km and is 200 to 300m wide, 30 to 100m thick. Stockwork bodies of manganese oxides (magnetic) are hosted within folded and faulted carbonates, and include massive flat lying lenses. It is interpreted that manganese oxides have replaced the dolomitic limestones in areas that have been structurally prepared through folding and faulting associated with NWN striking folds.

Associated with the manganese oxide body is an irregular cross cutting network of quartz veins. These veins contain the copper and silver minerals; malachite, azurite, covellite, chalcopyrite, chrysocolla, pyrite, acanthite, and small quantities of native silver.

Small scale production from surface pits and underground occurred in the early 1906 through to 1958, for a total of approximately 500,000 tonnes. ASARCO optioned the project in 1965 undertaking the first large scale investigations. Several companies subsequently performed drilling and bulk sampling for metallurgical test work. SSRM (then Silver Standard) optioned the Project in 2004, they undertook additional drilling and metallurgical test work. SSRM optioned the property in 2017 to ASX listed Valor Resources, who failed to meet acquisition agreement obligations in March 2020

• Epithermal polymetallic carbonate-replacement deposit
• Total tenement package of 6,594 hectares