(TheNewswire)
Near-Surface, Intercept Includes Bonanza Silver Gradesof 1,423 g/t AgEq (20.3 g/t AuEq) over 4m
Toronto – TheNewswire - August 11, 2022: AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce assay results fromthree new diamond drill holes from the Phase II drill program locatedon the Company’s wholly owned Diablillos property in Salta Province,Argentina.
All three holes were located in the Oculto Northeastzone. Key takeaways include:
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DDH 22-021 intersected anear-surface, high-grade silver interval of 17mat 365 g/t AgEq (5.2 g/t AuEq - comprised of 355g/t Ag and 0.14 g/t Au) in oxides starting at a down-hole depth of only 53 metres Thisincluded a bonanza-grade 5m interval of 1,037g/t AgEq (14.8 g/t AuEq – comprised of 1,022g/t Ag 0.21 g/t Au);
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DDH 22-022 intersected multiplezones of high-grade gold mineralization, including a broad interceptof 34m at 156 g/t AgEq( 2.2 g/t AuEq - comprisedof 18 g/t Ag and 1.98 g/t Au);
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DDH 22-024 intersectednear-surface, high-grade silver mineralization including a broadintercept of 43.5m grading 196 g/t AgEq (2.8 g/t AuEq - comprised of 188 g/t Ag and 0.11g/t Au) in oxides starting at a down-hole depthof only 68.5 metres . The holeincluded a bonanza-grade interval of 4m at 1,423g/t AgEq (20.3 g/t AuEq – comprised of 1,410g/t Ag 0.18 g/t Au);
John Miniotis, President and CEO, commented, “We arevery encouraged by the numerous near-surface, high-grade silverresults intersected in the Northeast zone by these latest drill holes,as well as the underlying high-grade gold intercepts. These resultswill be included in the updated Mineral Resource estimate which willbe announced later this year. It is evident that the multiple zones ofmineralisation being encountered in the Northeast zone should addsubstantially to our overall Mineral Resource estimate which continuesto grow rapidly.”
Dave O’Connor, Chief Geologist, commented, “Thesenew results, drilled in the Oculto Northeast zone, help clearlydemonstrate the continuity of numerous mineralized breccia zones inthis highly prospective area. What is particularly encouraging is thenewly discovered shallow, high-grade silver mineralization encounteredin holes 21 and 24, which is expected to allow for a substantialexpansion of the conceptual open pit towards the northeast.
Furthermore, these latest intercepts are located over1km along strike from the newly discovered Southwest zone, announcedon August3 rd , highlighting that we aresuccessfully expanding high-grade mineralisation in both directionsbeyond the current Oculto Mineral Resource and along multiple brecciazones.”
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Diablillos Drill Result Highlights
(Intercepts greater than 2,000 gram-metres AgEq shownin bold text) :
Drill Hole | From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | Cu % | AgEq 1 g/t | AuEq 1 g/t | |
DDH-22-021 | 53 | 70 | Oxides | 17.0 | 355.2 | 0.14 | - | 365.0 | 5.21 | |
DDH-22-021 | Includes | 56 | 61 | Oxides | 5.0 | 1,022.4 | 0.21 | - | 1,037.1 | 14.82 |
DDH-22-021 | 77 | 87 | Oxides | 10.0 | 79.3 | 0.65 | - | 124.8 | 1.78 | |
DDH-22-021 | Includes | 85 | 86 | Oxides | 1.0 | 438.2 | 2.31 | - | 599.9 | 8.57 |
DDH-22-021 | 101.5 | 111 | Oxides | 9.5 | 24.8 | 0.72 | - | 75.2 | 1.07 | |
DDH-22-021 | 119 | 131 | Oxides | 12.0 | 24.0 | 0.10 | - | 31.0 | 0.44 | |
DDH-22-021 | 140 | 141 | Oxides | 1.0 | 69.4 | 17.26 | - | 1,277.6 | 18.25 | |
DDH-22-021 | 212 | 221 | Oxides | 9.0 | 11.0 | 0.80 | - | 67.0 | 0.96 | |
DDH-22-021 | 243 | 248 | Oxides | 5.0 | 20.4 | 1.23 | - | 106.5 | 1.52 | |
DDH-22-021 | 260 | 264 | Oxides | 4.0 | 72.8 | 0.86 | - | 133.0 | 1.90 | |
DDH-22-021 | 305 | 306 | Sulphides | 1.0 | 66.8 | 1.26 | 2.49 | 359.9 | 5.14 | |
DDH-22-022 | 115 | 119 | Oxides | 4.0 | 5.4 | 1.54 | - | 113.2 | 1.62 | |
DDH-22-022 | 243 | 245 | Oxides | 2.0 | 26.1 | 2.75 | - | 218.6 | 3.12 | |
DDH-22-022 | 272 | 306 | Oxides | 34.0 | 17.5 | 1.98 | - | 156.1 | 2.23 | |
DDH-22-022 | Includes | 275 | 285 | Oxides | 10.0 | 26.1 | 3.39 | - | 263.4 | 3.76 |
DDH-22-022 | 309 | 310 | Oxides | 1.0 | 23.0 | 3.54 | - | 270.8 | 3.87 | |
DDH-22-022 | 314 | 315 | Oxides | 1.0 | 5.6 | 18.61 | - | 1,308.3 | 18.69 | |
DDH-22-022 | 333 | 336 | Oxides | 3.0 | 17.8 | 5.69 | - | 416.1 | 5.94 | |
DDH-22-022 | Includes | 334 | 335 | Oxides | 1.0 | 17.5 | 16.00 | - | 1,137.5 | 16.25 |
DDH-22-022 | 356 | 359 | Oxides | 3.0 | 17.0 | 1.65 | - | 132.5 | 1.89 | |
DDH-22-022 | 377 | 378.5 | Oxides | 1.5 | 0.9 | 2.13 | - | 150.0 | 2.14 | |
DDH-22-022 | 386 | 388 | Sulphides | 2.0 | 24.4 | 3.86 | 0.61 | 344.8 | 4.93 | |
DDH-22-022 | 391 | 393 | Sulphides | 2.0 | 8.4 | 0.79 | 1.22 | 164.1 | 2.34 | |
DDH-22-024 | 68.5 | 112 | Oxides | 43.5 | 187.8 | 0.11 | - | 195.5 | 2.79 | |
DDH-22-024 | Includes | 105 | 112 | Oxides | 7.0 | 902.5 | 0.31 | - | 924.2 | 13.20 |
DDH-22-024 | Includes | 105 | 109 | Oxides | 4.0 | 1,410.2 | 0.18 | - | 1,422.8 | 20.33 |
DDH-22-024 | 122 | 170 | Oxides | 48.0 | 35.0 | 0.88 | - | 96.6 | 1.38 | |
DDH-22-024 | Includes | 141 | 170 | Oxides | 29.0 | 42.0 | 1.38 | - | 138.6 | 1.98 |
DDH-22-024 | 176 | 195 | Oxides | 19.0 | 31.8 | 1.42 | - | 131.2 | 1.87 | |
DDH-22-024 | 208 | 212 | Oxides | 4.0 | 29.8 | 1.78 | - | 154.4 | 2.21 | |
DDH-22-024 | 236 | 238 | Oxides | 2.0 | 42.1 | 1.52 | - | 148.5 | 2.12 | |
DDH-22-024 | 243 | 245 | Oxides | 2.0 | 32.8 | 1.07 | - | 107.7 | 1.54 | |
DDH-22-024 | 260 | 275 | Oxides | 15.0 | 44.2 | 3.21 | - | 268.9 | 3.84 |
Note: All results in this news release are rounded.Assays are uncut and undiluted. Widths are drilled widths, not truewidths. True widths are estimated to be approximately 80% of theinterval widths.
1 AgEq & AuEq calculations forreported drill results are based on USD $1,750/oz, $25.00/oz Ag &$3.00/lb Cu. The calculations assume 100% metallurgical recovery andare indicative of gross in-situ metal value at the indicated metalprices.
Discussion of Drill Hole Results
Hole DDH 22-021 intersected numerous zones ofhigh-grade oxide mineralisation, commencing with a near-surface,high-grade silver zone consisting of 17 metresgrading 355 g/t Ag and 0.14 g/t Au starting from a down hole depth ofonly 53 metres. The hole was stopped in sulphidemineralization and encountered a high-grade copper and gold intervalof 67 g/t Ag, 1.26 g/t Au and 2.49% Cu over 1 metre, at a down-holedepth of 305 metres.
Hole DDH 22-022 was drilled outside of the proposedopen pit shell and successfully intersected multiple zones ofhigh-grade gold mineralization. The highlight intercept consisted of 34 metres grading 18 g/t Ag and 1.98 g/t Au,including 10 metres of 26 g/t AG and 3.39 g/t Au. The hole was terminated when it reached sulphidemineralization, with high-grade copper and gold intercepts, consistingof 2 metres at 24 g/t Ag, 3.72 g/t Au and 0.61% Cu, and an additional2 metres grading 8 g/t Ag, 0.79 g/t Au and 1.22% Cu.
Hole DDH 22-024 intersected multiple zones ofhigh-grade silver and gold mineralization, including 43.5 metres grading 188 g/t Ag and 0.11 g/t Au, starting froma down hole depth of only 68.5 metres . The holeintersected numerous broad zones of high-grade mineralization which isexpected to help further expand the Mineral Resources in this area.
Mineralisation in the Northeast zone is controlled byseveral structures hosting siliceous breccias, including the NorthBreccia Zone, the West Breccia Zone and the Main breccia Zone, seeFigure 1 below. These mineralised zones are open towards the northeastwhere historical drilling indicates that they have considerable strikeextent. The structures are particularly well mineralised where thebreccias coalesce and these areas represent our main drill targets forhigher grade mineralization. The newly discovered shallow silver zonealso represents a prime exploration target as this is expected toallow for an expansion of the conceptual open pit.
Figure 1 – Plan View of Drill Results
Figure 2 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-021
Figure 3 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-022
Figure 4 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-024
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 22-021 | E720374 | N7199763 | 4,257 | 180 | -60 | 400 |
DDH 22-022 | E720600 | N7199761 | 4,293 | 180 | -60 | 396 |
DDH 22-024 | E720348 | N7199648 | 4,263 | 0 | -60 | 302 |
About Diablillos
The 80 km 2 Diablillos property is located in the Argentine Puna region - thesouthern extension of the Altiplano of southern Peru, Bolivia, andnorthern Chile - and was acquired from SSR Mining Inc. by the Companyin 2016. There are several known mineral zones on the Diablillosproperty, with the Oculto zone being the most advanced with over100,000 metres drilled to date. Oculto is a high-sulphidationepithermal silver-gold deposit derived from remnant hot springsactivity following Tertiarty-age local magmatic and volcanic activity.Comparatively nearby examples of high sulphidation epithermal depositsinclude: Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/AltoChicama (Peru) Veladero (Argentina); and Filo del Sol(Argentina).
The most recent Mineral Resource Estimate for theOculto Deposit is shown in Table 2 below:
Table 2 - 2021 Mineral Resource Estimate for the OcultoDeposit, Diablillos Project
Category | Tonnage (000 t) | Ag (g/t) | Au (g/t) | Contained Ag (000 oz Ag) | Contained Au (000 oz Au) |
Measured | 8,235 | 124 | 0.98 | 32,701 | 259 |
Indicated | 32,958 | 54 | 0.70 | 57,464 | 744 |
Measured & Indicated | 41,193 | 68 | 0.76 | 90,165 | 1,002 |
Inferred | 2,884 | 34 | 0.70 | 3,181 | 66 |
Effective September 8, 2021. The Mineral Resourceestimate and supporting Technical Report are N.I. 43-101 compliant.Full details of the Mineral Resources are available in a Company newsrelease dated September 15, 2021. For additional information pleasesee Technical Report on the Diablillos Project, Salta Province,Argentina, dated October 28, 2021, completed by Mining Plus, andavailable on www.SEDAR.com.
QA/QC and Core Sampling Protocols
AbraSilver applies industry standard explorationmethodologies and techniques, and all drill core samples are collectedunder the supervision of the Company’s geologists in accordance withindustry practices. Drill core is transportedfrom the drill platform to the logging facility where drill data iscompared and verified with the core in the trays. Thereafter, it islogged, photographed, and split by diamond saw prior to being sampled.Samples are then bagged, and quality control materials are inserted atregular intervals; these include blanks and certified referencematerials as well as duplicate core samples which are collected inorder to measure sample representivity. Groups of samples are thenplaced in large bags which are sealed with numbered tags in order tomaintain a chain-of-custody during the transport of the samples fromthe project site to the laboratory.
All samples are received by the SGS offices in Saltawho then dispatch the samples to the SGS preparation facility in SanJuan. From there, the prepared samples are sent to the SGS laboratoryin Lima, Peru where they are analyzed. All samples are analyzed usinga multi-element technique consisting of a four acid digestion followedby ICP/AES detection, and gold is analyzed by 50g Fire Assay with anAAS finish. Silver results greater than 100g/t are reanalyzed usingfour acid digestion with an ore grade AAS finish.
Qualified Persons
David O’Connor P.Geo., Chief Geologist forAbraSilver, is the Qualified Person as defined by National Instrument43-101 Standards of Disclosure for Mineral Projects, and he hasreviewed and approved the scientific and technical information in thisnews release.
About AbraSilver
AbraSilver is a well-funded silver-gold focusedadvanced-stage exploration company. The Company is rapidly advancingits 100%-owned Diablillos silver-gold project in the mining-friendlySalta province of Argentina, which has a current Measured andIndicated Mineral Resource of over 90 million ounces of silver and 1.0million ounces of gold. The updated PEA study completed in November2021 demonstrates that Diablillos has the potential to be ahighly-economic project. The Company is led by an experiencedmanagement team and has long-term supportive shareholders includingMr. Eric Sprott. In addition, AbraSilver owns a portfolio ofearlier-stage copper-gold projects including the La Coipitacopper-gold project in the San Juan province of Argentina. AbraSilveris listed on the TSX-V under the symbol “ABRA” and in the U.S.under the symbol “ABBRF”.
For further information please visit the AbraSilverResource website at www.abrasilver.com , ourLinkedIn page at , and follow us on Twitter at
Alternatively please contact:
John Miniotis, President and CEO
Tel: +1 416-306-8334
Cautionary Statements
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation. Forward-looking statements are necessarilybased upon a number of estimates and assumptions that, whileconsidered reasonable, are subject to known and unknown risks,uncertainties, and other factors which may cause the actual resultsand future events to differ materially from those expressed or impliedby such forward-looking statements. All statements that address futureplans, activities, events or developments that the Company believes,expects or anticipates will or may occur are forward-lookinginformation. There can be no assurance that such statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-looking statements.The Company disclaims any intention or obligation to update or reviseany forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this news release
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