(TheNewswire)
Toronto– TheNewswire - September 15, 2022- AbraSilver ResourceCorp. (TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce assay results fromthe final eight diamond drill holes completed as part of theCompany’s highly-successful Phase II drill program, on itswholly-owned Diablillos property in Salta Province, Argentina.
The latest batch of holes targeted the Northeast zone,as well as the extension potential of the conceptual Oculto open pit. Key takeaways include:
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Hole DDH 22-041 intersected 38.5 metres at 183 g/tAgEq (2.6 g/t AuEq – comprised of 119 g/t Agand 0.91 g/t Au) in oxides starting at a down-hole depth of only 74 metres Thehole included a 12.5 metre interval grading 350 g/t AgEq (5.00 g/t AuEq).
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Well-mineralized oxide intercepts were encountered inall of the final 8 holes from the Phase II program. Allresults will be incorporated into an updatedMineral Resource estimate to be released next month.
The latest assay result highlights are summarized inTable 1 and Table 2 below.
Table 1 – Diablillos Drill Results: Conceptual OpenPit Extension
(Intercepts greater than 2,000 gram-metres AgEq shownin bold text) :
From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | AgEq 1 g/t | AuEq 1 g/t | ||
DDH-22-032 | 141 | 145 | Oxides | 4.0 | 13.9 | 0.63 | 58.0 | 0.83 | |
DDH-22-032 | 153 | 160 | Oxides | 7.0 | 29.3 | 1.25 | 116.8 | 1.67 | |
DDH-22-032 | 165.5 | 209.5 | Oxides | 44.0 | 35.3 | 1.38 | 131.9 | 1.88 | |
DDH-22-032 | 214.5 | 216.5 | Oxides | 2.0 | 26.1 | 3.10 | 243.1 | 3.47 | |
DDH-22-032 | 220 | 223 | Oxides | 3.0 | 33.0 | 2.10 | 180.0 | 2.57 | |
DDH-22-032 | 238 | 246 | Oxides | 8.0 | 12.0 | 1.42 | 111.4 | 1.59 | |
DDH-22-032 | 251 | 255 | Oxides | 4.0 | 11.3 | 1.45 | 112.8 | 1.61 | |
DDH-22-032 | 265 | 311 | Transition | 46.0 | 18.5 | 1.73 | 139.6 | 1.99 | |
DDH-22-032 | 314 | 315 | Transition | 1.0 | 24.6 | 2.79 | 219.9 | 3.14 | |
DDH-22-032 | 323 | 326 | Transition | 3.0 | 14.7 | 1.11 | 92.4 | 1.32 | |
DDH-22-039 | 186.5 | 189.5 | Oxides | 3.0 | 31.0 | 0.86 | 91.2 | 1.30 | |
DDH-22-039 | 370.5 | 374.5 | Oxides | 4.0 | 3.8 | 1.00 | 73.8 | 1.05 | |
DDH-22-039 | 382 | 387 | Oxides | 5.0 | 4.5 | 0.68 | 52.1 | 0.74 | |
DDH-22-040 | 129 | 150 | Oxides | 21.0 | 27.1 | 0.09 | 33.4 | 0.48 | |
DDH-22-040 | 172 | 180 | Oxides | 8.0 | 36.6 | 0.09 | 42.9 | 0.61 | |
DDH-22-040 | 200 | 202 | Oxides | 2.0 | 110.3 | 1.18 | 192.9 | 2.76 | |
DDH-22-040 | 228 | 233 | Oxides | 5.0 | 18.4 | 0.62 | 61.8 | 0.88 | |
DDH-22-040 | 243 | 245 | Oxides | 2.0 | 19.0 | 2.20 | 173.0 | 2.47 | |
DDH-22-040 | 252 | 258 | Oxides | 6.0 | 18.1 | 3.90 | 291.1 | 4.16 | |
DDH-22-041 | 74 | 112.5 | Oxides | 38.5 | 118.9 | 0.91 | 182.6 | 2.61 | |
DDH-22-041 | Including | 78.5 | 91 | Oxides | 12.5 | 191.4 | 2.27 | 350.3 | 5.00 |
DDH-22-041 | 176.5 | 177.5 | Oxides | 1.0 | 23.2 | 1.79 | 148.5 | 2.12 | |
DDH-22-041 | 206 | 208 | Oxides | 2.0 | 65.6 | 0.10 | 72.6 | 1.04 | |
DDH-22-041 | 227.5 | 230.5 | Transition | 3.0 | 69.1 | 0.04 | 71.9 | 1.03 |
Table 2 – Diablillos Drill Results: NortheastZone
(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-22-029 | 110 | 116 | Oxides | 6.0 | 79.7 | 0.24 | 96.5 | 1.38 | |
DDH-22-029 | 119 | 126.5 | Oxides | 7.5 | 24.4 | 0.59 | 65.7 | 0.94 | |
DDH-22-029 | 135.5 | 137 | Oxides | 1.5 | 26.7 | 1.96 | 163.9 | 2.34 | |
DDH-22-029 | 189 | 190 | Oxides | 1.0 | 15.1 | 6.68 | 482.7 | 6.90 | |
DDH-22-029 | 204 | 206 | Oxides | 2.0 | 27.4 | 1.53 | 134.5 | 1.92 | |
DDH-22-029 | 245 | 248 | Oxides | 3.0 | 10.6 | 1.22 | 96.0 | 1.37 | |
DDH-22-029 | 261 | 266 | Oxides | 5.0 | 11.5 | 1.73 | 132.6 | 1.89 | |
DDH-22-031 | 149 | 155 | Oxides | 6.0 | 26.5 | 0.61 | 69.2 | 0.99 | |
DDH-22-031 | 165 | 169 | Oxides | 4.0 | 43.9 | 0.36 | 69.1 | 0.99 | |
DDH-22-031 | 182 | 202 | Oxides | 20.0 | 32.6 | 3.25 | 260.1 | 3.72 | |
DDH-22-031 | 209 | 214 | Oxides | 5.0 | 47.7 | 2.49 | 222.0 | 3.17 | |
DDH-22-031 | 237 | 238 | Oxides | 1.0 | 78.1 | 2.67 | 265.0 | 3.79 | |
DDH-22-031 | 250 | 252 | Oxides | 2.0 | 38.0 | 1.37 | 133.9 | 1.91 | |
DDH-22-031 | 254 | 259 | Oxides | 5.0 | 15.0 | 0.90 | 78.0 | 1.11 | |
DDH-22-031 | 294 | 295.5 | Oxides | 1.5 | 7.0 | 1.81 | 133.7 | 1.91 | |
DDH-22-034 | 161.5 | 164 | Oxides | 2.5 | 17.3 | 2.41 | 186.0 | 2.66 | |
DDH-22-034 | 198.5 | 201.5 | Oxides | 3.0 | 70.8 | 2.72 | 261.2 | 3.73 | |
DDH-22-034 | 287 | 288.5 | Oxides | 1.5 | 13.4 | 1.49 | 117.7 | 1.68 | |
DDH-22-038 | 200 | 204 | Oxides | 4.0 | 16.4 | 1.98 | 155.0 | 2.21 | |
DDH-22-038 | 207 | 220 | Oxides | 13.0 | 15.6 | 2.26 | 173.8 | 2.48 | |
DDH-22-038 | 224 | 234 | Oxides | 10.0 | 4.4 | 1.67 | 121.3 | 1.73 | |
DDH-22-038 | 238 | 246 | Oxides | 8.0 | 5.1 | 1.17 | 87.0 | 1.24 | |
DDH-22-038 | 273 | 280 | Oxides | 7.0 | 4.1 | 0.77 | 58.0 | 0.83 | |
DDH-22-038 | 297 | 299 | Oxides | 2.0 | 16.9 | 4.81 | 353.6 | 5.05 |
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 and $25.00/oz Ag.The calculations assume 100% metallurgical recovery and are indicativeof gross in-situ metal value at the indicated metal prices.
John Miniotis, President and CEO, commented, “We arevery pleased with the excellent results received from our 20,000 metrePhase II drill program. The drill program successfully demonstratedthe robust exploration upside potential at Diablillos, where we havenot yet reached the limit of the strike and depth continuity ofseveral mineralized zones. We’re looking forward to announcing ourupdated Mineral Resource estimate in October, and continuing to addvalue from our exciting Phase III exploration program which iscurrently drilling in the Southwest zone, where hole DDH22-019 recently intersected 87 metersof 346 g/t Ag near-surface.”
Dave O’Connor, Chief Geologist, commented, “Theselatest drill results add to our knowledge of the structurescontrolling mineralisation in the Northeast zone beyond the conceptualOculto open pit, demonstrating the excellent continuity of numerousmineralized breccia zones in this area. With all the drill resultsfrom our Phase II drill program now in hand, the Company’s near-termexploration focus is on the newly discovered Southwest zone, whichdisplays significant potential for future growth of Mineral Resourcesand a significantly expanded open pit”
Figure 1 – Oculto Plan View of Drill Results
Figure 2 below highlights the Oculto mineralised systemwhich is now known to extend well beyond the conceptual open pit andis open for at least two kilometres along strike. Drilling iscontinuing both to the northeast and southwest as well as laterally,demonstrating increasing tonnage potential of the system.
Figure 2 – Long-Section of Drill Results
*Results of hole DDH 22-019 in the Southwest zone werepreviously reported on Aug. 3, 2022 and the hole is included forperspective.
Discussion of Drill Hole Results
The latest drill intercepts were focused primarilynortheast of the open pit where several mineralized breccia structuresextend well beyond the conceptual Oculto open pit boundary. Theseresults demonstrate continuity of mineralizationin this area and continue to confirm the strong potential to expandthe current Mineral Resource base outside of the current conceptualopen pit shell.
Hole DDH 22-032 intersected several well-mineralizedzones throughout the hole, including 44 metresat 35 g/t Ag and 1.38 g/t Au in oxides from adownhole depth of 165.5 metres. The same hole, also encountered aninterval of 46 metres at 18.5 g/t Ag and 1.73g/t Au deeper down in the oxide/sulphidetransition zone. These intervals were located outside of the currentconceptual open pit margins, demonstrating potential for an expansionof the open pit towards the northeast.
Hole DDH 22-041 was an in-fillhole drilled within the conceptual open pit boundary to test thenortheast extension of the West Breccia zone. The hole successfullyencountered a near-surface intercept of 38.5metres at 119 g/t Ag and 0.91 g/t Au in oxidesfrom a downhole depth of 74 metres.
In the Northeast Zone, hole DDH 22-031 was locatedapproximately 350 metres beyond the current open pit boundary, andsuccessfully intercepted a high-grade gold intercept of 3.25 g/t Au and 33 g/t Ag over 20 metres. These results, combined with prior drilling in the NortheastZone, demonstrate the large size of the system which extends for atleast 500 metres beyond the conceptual open pit margin.
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 22-029 | E720682 | N7199868 | 4,292 | 180 | -60 | 302 |
DDH 22-031 | E720630 | N7199960 | 4,271 | 180 | -60 | 300 |
DDH 22-032 | E720451 | N7199630 | 4,285 | 0 | -60 | 329 |
DDH 22-034 | E720809 | N7200162 | 4,269 | 180 | -60 | 298 |
DDH 22-038 | E720845 | N7199837 | 4,318 | 225 | -60 | 323.5 |
DDH 22-039 | E720405 | N7199576 | 4,292 | 0 | -75 | 401 |
DDH 22-040 | E720452 | N7199571 | 4,302 | 0 | -60 | 302 |
DDH 22-041 | E720461 | N7199488 | 4,332 | 180 | -60 | 245 |
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 3:
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 mayoccur are forward-looking information. There can be no assurance thatsuch statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. The Company disclaims any intention orobligation to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise, except asrequired 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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