(TheNewswire)
Record High Oxide Intercept Includes 9,536 g/t AgEq(136.2 g/t AuEq) over 4 Metres
Toronto – TheNewswire - July 25, 2022: AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is very pleased to announce assay resultsfrom its latest diamond drill holes from the Phase II program on theCompany’s wholly-owned Diablillos property in Salta Province,Argentina (“Diablillos” or the “Project”).
Diamond drill hole DDH 22-015 contains thehighest-grade silver intercept recorded on the Project to date. Keytakeaways from the latest intercept includes:
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Hole DDH 22-015 was drilled to test the southwestern extension of thehigh-grade Tesoro Zone. The highest-grade intersection consisted of 26 metres at 2,383 g/t AgEq (34.0 g/t AuEq - comprised of 2,358 g/t Ag and 0.36 g/tAu), including 4 metres at 9,536 g/t AgEq (136.2 g/t AuEq – comprised of 9,488 g/t Agand 0.69 g/t Au); and
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This drill hole further extends the high-grade Tesorozone by an additional 25 metres towards thewest , thereby extending the dimensions of thiszone to over 500m in length by approximately 100m width
John Miniotis, President and CEO, commented, “Withouta doubt, assay results from our Phase II drill campaign continue toexceed all expectations. This exceptional high-grade drill resultmeaningfully extends the Tesoro zone and adds to a series ofoutstanding drill intersections recently announced, which are expectedto have a positive impact on the forthcoming Mineral Resource Estimateupdate and Pre-Feasibility Study (PFS) for the Diablillosproject.”
The latest assay result highlights are summarized inTable 1 and Table 2 below. These drill holes will form part of theinputs to the updated Mineral Resource Estimate expected to beannounced later this year.
Table 1 – Diablillos Hole DDH 22-015
(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 | AgEq 1 g/t | AuEq 1 g/t | |
DDH-22-015 | 114 | 117 | Oxides | 3.0 | 157.9 | 0.13 | 167.0 | 2.39 | |
DDH-22-015 | 124.5 | 128 | Oxides | 3.5 | 60.5 | 0.12 | 68.9 | 0.98 | |
DDH-22-015 | 131.5 | 157.5 | Oxides | 26.0 | 2,357.6 | 0.36 | 2,382.8 | 34.04 | |
DDH-22-015 | Includes | 139.5 | 154.5 | Oxides | 15.0 | 3,939.8 | 0.40 | 3,967.8 | 56.68 |
DDH-22-015 | Includes | 148.5 | 152.5 | Oxides | 4.0 | 9,487.9 | 0.69 | 9,536.2 | 136.23 |
DDH-22-015 | 164.5 | 172.3 | Oxides | 7.8 | 65.0 | 0.12 | 73.4 | 1.05 |
Dave O’Connor, Chief Geologist, commented, “We arevery excited that drill hole DDH 22-015 returned the highest-gradesilver intercept ever recorded at Diablillos, an impressive resultwith over 125,000 metres drilled on the Project to date. This resultconfirms that the high-grade Tesoro zone is open and can be expanded,which should provide a significant boost to the overall economics ofthe Project. Looking ahead, we continue to await further drillresults from our Phase II program, including important step-out drillholes in the new emerging southwest zone.”
Table 2 – Diablillos Other Drill ResultHighlights
(Intercepts greater than 2,000 gram-metres AgEq shownin bold text) :
From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | Cu % | AgEq 1 g/t | AuEq 1 g/t | ||
DDH-22-006 | 107 | 133 | Oxides | 26.0 | 67.2 | 1.67 | - | 184.1 | 2.63 | |
DDH-22-006 | 171 | 176 | Oxides | 5.0 | 62.0 | 1.43 | - | 162.1 | 2.32 | |
DDH-22-006 | 183 | 198 | Oxides | 15.0 | 25.5 | 2.81 | - | 222.2 | 3.17 | |
DDH-22-006 | Includes | 183 | 184 | Oxides | 1.0 | 11.3 | 23.21 | - | 1,636.0 | 23.37 |
DDH-22-006 | 236.5 | 239.5 | Oxides | 3.0 | 12.4 | 1.11 | - | 90.1 | 1.29 | |
DDH-22-007 | 150.5 | 165 | Oxides | 14.5 | 61.6 | - | 0.18 | 76.4 | 1.09 | |
DDH-22-007 | 174 | 175 | Oxides | 1.0 | 220.9 | 0.38 | 0.68 | 303.5 | 4.34 | |
DDH-22-007 | 188 | 189 | Transition | 1.0 | 279.6 | 1.59 | 2.38 | 586.7 | 8.38 | |
DDH-22-007 | 205 | 224 | Transition | 19.0 | 10.7 | 0.14 | 0.15 | 32.8 | 0.47 | |
DDH-22-007 | 236 | 237.5 | Transition | 1.5 | 9.7 | 1.31 | 0.09 | 108.8 | 1.55 | |
DDH-22-007 | 246.5 | 249.5 | Transition | 3.0 | 16.4 | 4.56 | 0.10 | 343.8 | 4.91 | |
DDH-22-007 | 272 | 276.5 | Transition | 4.5 | 16.8 | 1.22 | 0.79 | 167.2 | 2.39 | |
DDH-22-008 | 240 | 248 | Oxides | 8.0 | 48.9 | 0.16 | - | 60.1 | 0.86 | |
DDH-22-008 | 327 | 353 | Oxides | 26.0 | 44.0 | 0.45 | - | 75.5 | 1.08 | |
DDH-22-013 | 175 | 180 | Oxides | 5.0 | 59.6 | 1.59 | - | 170.9 | 2.44 | |
DDH-22-013 | 186 | 187 | Oxides | 1.0 | 16.4 | 2.13 | - | 165.5 | 2.36 |
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 and$3.00/lb Cu. The calculations assume 100% metallurgical recovery andare indicative of gross in-situ metal value at the indicated metalprices.
Figure 1 – Diablillos Plan View of Drill Results
Discussion of Drill Hole Results
Hole DDH 22-015 was drilled to test the southwesternextension of the Tesoro Zone. The record high-grade interceptconsisted of 26 metres at 2,358 g/t Ag and 0.36g/t Au in oxides from 131.5 to 157.5 metres ,including 4 metres at 9,488 g/t Ag and 0.69 g/tAu starting at 148.5 metres downhole. Thehigh-grade intercept in the Tesoro Zone is expected to substantiallyincrease both the tonnage and silver grades of the existing MineralResources classified in the Measured category and could have a markedpositive effect on the project economics. Additional drill holes areplanned to test the continuity of this high-grade zone farther to thesouthwest in the Phase III program.
Hole DDH 22-006 was an in-fill drill hole whichobtained multiple intersects in the oxide zone, including 26 metres at67 g/t Ag and 1.67 g/t Au from 107 to 133 metres. The hole alsoobtained high-grade gold intercepts in oxides with 15 metres at 3.17g/t AuEq, including a very high-grade interval of 1 metre grading23.37 g/t AuEq.
Hole DDH 22-007 was a step-out hole drilled wellnortheast of the proposed open pit and intersected numerous narrowerzones of mineralization including 3 metres at 4.91 g/t AuEq in thedeeper gold zone.
Hole DDH 22-008 was a reconnaissance hole drilled eastof Oculto. The hole intersected deep mineralization in the oxide zoneincluding 26 metres at 44 g/t Ag and 0.45 g/t Au.
Hole DDH 22-013 was drilled in the southwest extensionof the shallow gold zone and intersected narrow zones of gold dominantmineralisation.
Figure 2 – Cross Section (Looking East) withHighlighted intercepts in Hole DDH 22-015
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 22-006 | E720263 | N7199549 | 4,269 | 0 | -60 | 294 |
DDH 22-007 | E720542 | N7199749 | 4,279 | 0 | -60 | 300 |
DDH 22-008 | E720688 | N7199287 | 4,393 | 0 | -60 | 354 |
DDH 22-013 | E720104 | N7199327 | 4,238 | 0 | -60 | 200 |
DDH 22-015 | E720133 | N7199301 | 4,245 | 0 | -60 | 200 |
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 over90,000 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 3 below:
Table 3 - 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 transported from the drill platformto the logging facility where drill data is compared and verified withthe core in the trays. Thereafter, it is logged, photographed, andsplit by diamond saw prior to being sampled. Samples are then bagged,and quality control materials are inserted at regular intervals; theseinclude blanks and certified reference materials as well as duplicatecore samples which are collected in order to measure samplerepresentivity. Groups of samples are then placed in large bags whichare sealed with numbered tags in order to maintain a chain-of-custodyduring the transport of the samples from the project site to thelaboratory.
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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