(TheNewswire)
Latest Results ReturnedTwo of the Top Four Best Intercepts Ever Reported at Diablillos
Toronto – TheNewswire - September 29, 2022 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is very pleased to announce the first setof assay results from the Company’s ongoing Phase III drill program,on its wholly-owned Diablillos property in Salta Province, Argentina(the “Project”).
The first two holes returned twoof the top four best silver-equivalent intercepts ever reported at Diablillos on a grade-thickness basis,including two separate bonanza-grade zones thatintersected greater than 2,000 g/t AgEq over 23 metreseach. Key takeaways include:
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Hole DDH 22-045 contains the newall-time highest-grade silver intercept recorded on the Project. Intotal, t he hole returned 127 metres at 646 g/t AgEq (9.2 g/tAuEq – comprised of 506 g/t Ag and 1.99 g/t Au) in oxides startingat a down-hole depth of only 122 metres andincluded .
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oo Bonanza-grade silvermineralization grading 2,001 g/t AgEq (28.6 g/t AuEq) in oxides over an impressive 23 metre interval starting at a down-hole depth of 152m.
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Hole DDH 22-043 intersected twoseparate high-grade zones. The first high-gradezone returned 154 metres at 144 g/t AgEq (2.1 g/t AuEq – comprised of 72 g/t Ag and1.03 g/t Au) in oxides starting at a down-holedepth of only 36 metres .
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oo Deeper down, a bonanza-gradezone was intersected in sulphides consisting of 2,116 g/t AgEq (30.2 g/t AuEq) over 23 metres.
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Hole DDH 22-047 also encountered a high-grade intercept of 43 metres at 250 g/t AgEq (3.6 g/t AuEq- comprised of 135 g/t Ag and 1.65 g/t Au) in oxides starting at adown-hole depth of only 101 metres. The hole was located towards theNortheast limit of the conceptual open pit.
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Diablillos Drill Results
(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-22-043 | 36 | 190 | Oxides | 154.0 | 72.0 | 1.03 | - | 144.1 | 2.06 | |
DDH-22-043 | 199 | 203 | Oxides | 4.0 | 88.9 | 2.91 | - | 292.5 | 4.18 | |
DDH-22-043 | 204 | 227 | Sulphides | 23.0 | 1,939.1 | 0.28 | 1.9 | 2,115.8 | 30.23 | |
DDH-22-045 | 122 | 249 | Oxides | 127.0 | 506.2 | 1.99 | - | 645.5 | 9.22 | |
DDH-22-045 | Includes | 152 | 175 | Oxides | 23.0 | 1,961.4 | 0.56 | - | 2,000.6 | 28.58 |
DDH-22-045 | Includes | 184 | 190 | Oxides | 6.0 | 110.3 | 13.45 | - | 1,051.8 | 15.03 |
DDH-22-047 | 82 | 92 | Oxides | 10.0 | 159.6 | 0.01 | - | 160.2 | 2.29 | |
DDH-22-047 | 101 | 144 | Oxides | 43.0 | 134.6 | 1.65 | - | 250.1 | 3.57 | |
DDH-22-047 | Includes | 104 | 120 | Oxides | 16.0 | 252.3 | 3.93 | - | 527.4 | 7.53 |
DDH-22-047 | 145 | 163 | Oxides | 18.0 | 54.9 | 0.13 | - | 64.0 | 0.91 | |
DDH-22-047 | 232 | 277 | Oxides | 45.0 | 21.6 | 0.08 | - | 26.9 | 0.38 |
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.
John Miniotis, President and CEO, commented, “Thespectacularly high-grade intercept of 646 g/t AgEq over 127 metres inhole 45, represents the best-ever drill result encountered on theDiablillos project. Moreover, today’s announcement includes a23-metre interval of 2,116 g/t AgEq in hole DDH-22-043, which ranks asthe fourth-best drill result in the Project’s history, on agrade-thickness basis. The Company’s ongoing exploration successand track record of outstanding drill results, are presently unparalleled across the silver industry,demonstrating the world-class upside potential of the Diablillosproject.”
Dave O’Connor, Chief Geologist, commented, “We aredelighted with the truly spectacular results received from the initialholes of our Phase III drill program which continue to demonstrate theextensive exploration potential at Diablillos, as well as theextremely high-grade nature of the Tesoro Zone. We are looking forwardto additional high-grade silver and gold intercepts along the knowntwo-kilometer length of this mineralized system, which continues todemonstrate remarkable upside potential.”
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
Discussion of Drill Hole Results
The latest drill intercepts were focused on testing theextension potential of the high-grade Tesoro zone, as well as in-filldrilling mineralization towards the northeast limit of the conceptualopen pit.
Hole DDH 22-045 was drilled to test the southernextension of the Tesoro Zone. The new all-time high-grade recordintercept consisted of 127 metres at 506 g/t Agand 1.99 g/t Au in oxides from 122 to 249 metres . The interval encountered bonanza-grade silver mineralization grading 1,961 g/t Ag over 23 metres, as well asbonanza-grade gold mineralization grading 13.45 g/t Au over 6 metres in oxides.
Hole DDH 22-043 was drilled within the Tesoro Zone andintersected several well-mineralized zones throughout the hole. Starting from a down-hole depth of only 36metres , the hole initiallyencountered 154 metres of 72 g/t Ag and 1.03 g/tAu in oxides. The same hole then encountered asubsequent interval of 23 metres at 1,939 g/tAg, 0.28 g/t Au and 1.9% Cu, deeper down insulphide mineralization.
Both holes, DDH 22-043 and DDH 22-045 are located nearthe high-grade Tesoro Zone. These new results are expected to continueto substantially increase both the tonnage and grades of the MineralResources classified in the Measured category and are expected to havea marked positive effect on the future economics of the project. Additional drill holes are planned to test the continuity of thehigh-grade Tesoro zone as part of the ongoing Phase IIIprogram.
Hole DDH 22-047 was an in-fillhole drilled within the conceptual open pit boundary to test thenortheast extension of the Main Breccia zone. The hole successfullyencountered a near-surface intercept of 43metres at 135 g/t Ag and 1.65 g/t Au in oxidesstarting from a downhole depth of 101 metres.
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 22-043 | E720175 | N7199379 | 4,260 | 0 | -89 | 306 |
DDH 22-045 | E720297 | N7199350 | 4,296 | 315 | -65 | 299 |
DDH 22-047 | E720550 | N7199544 | 4,322 | 180 | -60 | 325 |
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 deposits include: Yanacocha (Peru); El Indio(Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); andFilo del Sol (Argentina).
The most recent Mineral Resource Estimate for theOculto Deposit is shown in Table 2:
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 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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