(TheNewswire)
Toronto – TheNewswire - January 24, 2022 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the“Company”) is pleased to announcethe commencement of its maiden drill campaign at the La Coipitaproject (“La Coipita” or the “Project”) located in the SanJuan province of Argentina adjacent to the Chilean border.
The Company has an option agreement to acquire a 100%interest in the Project which encompasses alarge area, totaling approximately 70,000 hectares, in the westernportion of the Calingasta Department (see Aug. 17, 2021, newsrelease ) . The initial drilling program is expected to consist of approximately3,000 meters of HQ diamond core drilling in six, 500-meter-deep holes. A follow-up drill program will be considered following receipt ofthe initial results.
David O’Connor, Chief Geologist of AbraSilver,commented, “We are extremely pleased that our maiden drill campaignhas commenced at La Coipita. The Project has significant potentialwith multiple strong drill targets seen at surface. The target areasidentified have coincident geological, geochemical and geophysicalfeatures that are consistent with the presence of a copper-goldmineralised porphyry intrusive and associated high sulphidationgold-silver mineralization.”
La Coipita Exploration Targets
The Project is located in the San Juan Province in ageological setting similar to world-class deposits in the same belt,including the Filo del Sol and Los Azules projects, where porphyrystyle mineralisation is found immediately beneath epithermalmineralization. While the initial holes arecurrently being planned to a depth of approximately 500 meters, theCompany will evaluate drilling progress to see if deepening any holesis warranted to test for deeper underlying porphyrymineralisation.
The initial drill program willtest several high-priority targets including the Yareta highsulphidation target area where previous drilling obtained a number ofhigh-grade copper and gold intercepts. Reconnaissance explorationwork completed by AbraSilver has shown that mineralisation in thisarea is expected to be more widespread than the zone previouslydrilled in 1997.
The locations of the initial six drill holes are shownin Figure 1 below. Interestingly, excavation of the drill platform forHole DDH-22-001 exposed mineralisation indicative of the copper-ironsulphate mineral chalcanthite in a system of veinlets that likelyrepresents the weathered product of underlying sulphide mineralisationas shown in Figure 2.
Figure 1 – La Coipita DrillingTargets
Figure 2 – Outcropping CopperSulphate Mineralisation at Drill Platform for Hole 22-001
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 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 containing over 90 million ounces of silverand 1.0 million ounces of gold. The Company is led by an experiencedmanagement team and has long-term supportive shareholders includingMr. Eric Sprott and SSR Mining. In addition, AbraSilver owns aportfolio of earlier-stage 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.
The Diablillos resource estimate and supportingtechnical report are N.I. 43-101 compliant. Full details of theMineral Resources are available in a Company news release datedSeptember 15, 2021. For additional information please see theTechnical Report on the Diablillos Project, Salta Province, Argentina,dated October 28, 2021, completed by Mining Plus, and available onwww.SEDAR.com.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release
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