(TheNewswire)
High-Grade Intercept Includes 17m at6.16 g/t Gold-Equivalent (431 g/t Silver-Equivalent)
Toronto – TheNewswire - March 10, 2022 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the“Company”) is pleased to announcethe latest diamond drill hole assays from the ongoing Phase II drillprogram on the Company’s wholly-owned Diablillos property in SaltaProvince, Argentina. The latest step-out drill holes continue toconfirm the existence of broad intervals of silver and goldmineralization in both directions along strike beyond the currentconceptual Preliminary Economic Assessment (“PEA”) open pitmargin.
John Miniotis, President and CEO, commented,“Today’s drill results highlight the significant opportunity forAbraSilver to increase Mineral Resources beyond the levels included inthe estimate announced in September 2021. The ongoing Phase II drillprogram results continue to confirm that the high-grade oxidemineralization extends along strike beyond the conceptual PEA open pitboundary, both towards the southwest and northeast. Additionally, wealso continue to extend the mineralization at depth where we are nowplanning a systematic drilling program to test the extent of thedeeper sulphide mineralisation later on this year.”
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Drill ResultHighlights
(Intercepts greater than 2,000 gram-meters AgEq shownin bold text) :
Drill Hole | From (m) | To (m) | Type | Interval (m) | Au g/t | Ag g/t | AuEq 1 g/t | AgEq 1 g/t | |
DDH-21-067 | 96 | 98 | Oxides | 2.0 | 0.90 | 18.2 | 1.16 | 81.2 | |
DDH-21-067 | 126.5 | 129.5 | Oxides | 3.0 | - | 40.2 | 0.57 | 40.2 | |
DDH-21-067 | 137 | 193 | Oxides | 56.0 | - | 83.5 | 1.19 | 83.5 | |
DDH-21-067 | 242 | 308 | Oxides | 66.0 | 1.90 | 57.0 | 2.71 | 190.0 | |
DDH-21-067 | Including | 295 | 304 | Oxides | 9.0 | 4.02 | 94.2 | 5.37 | 375.6 |
DDH-21-067 | 317 | 318.2 | Oxides | 1.2 | 1.00 | 51.8 | 1.74 | 121.8 | |
DDH-21-067 | 323 | 326 | Oxides | 3.0 | 0.81 | 21.5 | 1.12 | 78.2 | |
DDH-21-068 | 19.5 | 22.5 | Oxides | 3.0 | - | 23.6 | 0.34 | 23.6 | |
DDH-21-068 | 61 | 63 | Oxides | 2.0 | 0.15 | 31.25 | 0.60 | 41.8 | |
DDH-21-068 | 89 | 146 | Oxides | 57.0 | 1.47 | 108.0 | 3.01 | 210.9 | |
DDH-21-068 | Including | 104 | 121 | Oxides | 17.0 | 4.65 | 105.6 | 6.16 |
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 for reported drill results are based on USD$1,750/oz Au, $25.00/oz Ag and $3.00/lb Cu. The calculations assume100% metallurgical recovery and are indicative of gross in-situ metalvalue at the indicated metal prices.
Figure 1 – Drill Hole LocationMap
Discussion of Drill HoleResults
Hole DDH 21-067 was drilled to test the north-easternextension of the Main Breccia, while hole DDH 21-068 was drilled totest the south-western extension of the Main Breccia. Both holes weredrilled on the margin of the conceptual PEA open pit to test theexpansion potential of the pit to incorporate more mineral resources.
Hole DDH 21-067 intersected several high-grademineralised zones, including 56.0 meters at 83.5 g/t silver from 137 to 193meters, and 66.0 meters at1.90 g/t gold and 57.0 g/t silver from 242 to308 meters, including 9.0meters at 4.02 g/t silver and 94.2 g/t silver .
Hole DDH 21-068 intersected 57.0 meters at 1.47 g/t gold and 108.0 g/tsilver from 89 to 146 meters, including 17.0 meters at 4.65 g/t goldand 105.6 g/t silver .
These two holes show high-grade mineralisation at themargins of the conceptual open pit and demonstrate the potential forexpansions of the pit both towards the southwest and northeast.
Figure 2 – Cross Section (LookingEast) with Highlighted intercepts in Hole DDH 21-067
Figure 3 - Cross Section (LookingEast) with Highlighted intercepts in Hole DDH 21-068
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth | |
DDH 21-067 | E720366 | N7199356 | 4,321 | 0 | -60 | 356 |
DDH 21-068 | E720057 | N7199207 | 4,221 | 0 | -60 | 161 |
About Diablillos
The 80 km 2 Diablillos property is located in theArgentine Puna region - the southern extension of the Altiplano ofsouthern Peru, Bolivia, and northern Chile - and was acquired from SSRMining Inc. by the Company in 2016. There are several known mineralzones on the Diablillos property, with the Oculto zone being the mostadvanced with over 90,000 meters drilled to date. Oculto is ahigh-sulphidation epithermal silver-gold deposit derived from remnanthot springs activity following Tertiarty-age local magmatic andvolcanic activity. Comparatively nearby examples of high sulphidationepithermal deposits include: Yanacocha (Peru); El Indio (Chile);Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo delSol (Argentina).
The Mineral Resource for the Oculto Deposit is shown inTable 2 below:
Table 2 - 2021 Mineral ResourceEstimate for the Oculto Deposit, 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 and SSR Mining. In addition, AbraSilver owns aportfolio of earlier-stage copper-gold projects including the LaCoipita copper-gold project in the San Juan province of Argentina.AbraSilver is listed on the TSX-V under the symbol “ABRA” and inthe 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 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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