(TheNewswire)
Toronto – TheNewswire - February 13, 2024 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce that drilling atthe La Coipita copper-gold porphyry project (“La Coipita” or the“Project”) in San Juan, Argentina has commenced.
The initial drill program is expected to consist of twodrill rigs, drilling a planned total of four holes, over 2,600 metres,focusing on the La Coipita target.
The drill program is fully funded by a subsidiary ofTeck Resources Limited (“Teck”) under the terms of the option andjoint venture agreement, as per the Company’s news release dated January 22,2024 .
John Miniotis, President and CEO, commented, “We areexcited to see the initiation of Teck’s maiden drill program at LaCoipita which aims to unlock the potential of this promising copperporphyry project. Our large land package hosts multiple high-priorityexploration targets, and we are optimistic about the positive outcomesthat may result from this exploration phase.”
La Coipita Project Overview
The La Coipita project is located in the San JuanProvince in a geological setting similar to world-class deposits inthe same belt, including the Filo del Sol and Los Azules projects,where porphyry style mineralisation is found immediately beneathepithermal mineralization.
The initial drill program will test zones of highchargeability and conductivity below sericitic alteration at surface,in the lower-elevation area east of previous drilling.
The location of the two drill holes currently inprogress, and the historical holes drilled by AbraSilver, are shown inFigure 1 below.
Figure 1 – Map of Drill Holes at LaCoipita
Technical information in this news release has beenapproved by David O’Connor P.Geo., ChiefGeologist for AbraSilver, and a Qualified Person as defined byNational Instrument 43-101 Standards of Disclosure for MineralProjects.
About AbraSilver
AbraSilver is an advanced-stage exploration companyfocused on rapidly advancing its 100%-owned Diablillos silver-goldproject in the mining-friendly Salta province of Argentina. Thecurrent Measured and Indicated Mineral Resource estimate forDiablillos consists of 53.3 Mt grading 87 g/t Ag and 0.79 g/t Au,containing approximately 148Moz silver and 1.4Moz gold, withsignificant further exploration upside potential. In addition, theCompany has entered into an earn-in option and joint venture agreementwith Teck on the La Coipita project, whereby Teck can fund up to US$20million in exploration expenditures and make certain other payments toearn up to an 80% interest. AbraSilver is listed on the TSX-V underthe 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.When considering this forward-looking information, readers should keepin mind the risk factors and other cautionary statements in theCompany’s disclosure documents filed with the applicable Canadiansecurities regulatory authorities on SEDAR+ at www.sedarplus.ca. Therisk factors and other factors noted in the disclosure documents couldcause actual events or results to differ materially from thosedescribed in any forward-looking information. The Company disclaimsany intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by law.
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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