(TheNewswire)
High-Grade Intercept Includes 2m at 17.09 g/tGold-Equivalent (1,196 g/t Silver-Equivalent)
Toronto – TheNewswire - February 22, 2022 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce the latestdiamond drill hole assays from the ongoing Phase II drill program onthe Company’s wholly-owned Diablillos property in Salta Province,Argentina. The latest step-out drill holes continue to show excellentpotential to expand Mineral Resources towards the northeast, wellbeyond the proposed PEA open pit margin.
David O’Connor, Chief Geologist, commented, “Wecontinue to be very encouraged with each additional drill result wereceive from our Phase II program. Holes DDH 21-065 and DDH 21-066both show additional extensions to the mineralization in thegold-dominant northeast zone. Importantly, hole DDH 21-066 opens uphundreds of meters of potential in the “West Breccia Zone”. Thesenew intersections are expected to add to the updated Mineral Resourceestimate planned for later this year.”
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Drill Results of Holes in NortheastZone
(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 | Cu % | AuEq 1 g/t | AgEq 1 g/t | |
DDH-21-065 | 72 | 119 | Oxides | 47.0 | - | 43.0 | - | 0.61 | 43.0 | |
DDH-21-065 | Including | 96 | 106 | Oxides | 10.0 | - | 87.1 | - | 1.24 | 87.1 |
DDH-21-065 | 151 | 158 | Oxides | 7.0 | - | 35.9 | - | 0.51 | 35.9 | |
DDH-21-065 | 198 | 202 | Oxides | 4.0 | 0.28 | 33.6 | - | 0.76 | 53.2 | |
DDH-21-065 | 205 | 210 | Oxides | 5.0 | 0.83 | 24.4 | - | 1.18 | 82.5 | |
DDH-21-065 | 218 | 224 | Oxides | 6.0 | 0.80 | 33.0 | - | 1.27 | 89.0 | |
DDH-21-065 | 227 | 228.5 | Oxides | 1.5 | 1.12 | 22.5 | - | 1.44 | 100.9 | |
DDH-21-065 | 254 | 277.5 | Oxides | 23.5 | 1.66 | 31.0 | - | 2.10 | 147.2 | |
DDH-21-065 | Including | 268 | 277.5 | Oxides | 9.5 | 2.59 | 29.5 | - | 3.01 | 210.8 |
DDH-21-065 | 291 | 305 | Transition | 14.0 | 5.07 | 12.2 | 0.44 | 5.76 | 403.3 | |
DDH-21-065 | Including | 299 | 301 | Transition | 2.0 | 15.73 | 23.4 | 0.87 | 17.09 | 1,196.1 |
DDH-21-066 | 128 | 131 | Oxides | 3.0 | - | 29.9 | - | 0.43 | 29.9 | |
DDH-21-066 | 143 | 148 | Oxides | 5.0 | 0.22 | 31.9 | - | 0.68 | 47.3 | |
DDH-21-066 | 152 | 162 | Oxides | 10.0 | 0.16 | 27.8 | - | 0.56 | 39.0 | |
DDH-21-066 | 169 | 173 | Oxides | 4.0 | 5.87 | 63.6 | - | 6.78 | 474.5 | |
DDH-21-066 | 182.6 | 200 | Oxides | 17.4 | 2.30 | 42.5 | - | 2.91 | 203.5 | |
DDH-21-066 | Including | 191.5 | 200 | Oxides | 8.5 | 2.77 | 62.6 | - | 3.66 | 256.5 |
DDH-21-066 | 210 | 215 | Oxides | 5.0 | 1.28 | 94.3 | - | 2.63 | 183.9 | |
DDH-21-066 | 230 | 231.5 | Transition | 1.5 | 1.31 | 19.2 | 0.36 | 2.01 | 140.5 | |
DDH-21-066 | 248 | 251 | Transition | 3.0 | 0.89 | 6.4 | - | 0.98 |
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 calculationsfor reported drill results are based on USD $1,750/oz Au, $25.00/oz Agand $3.00/lb Cu. The calculations assume 100% metallurgical recoveryand are indicative of gross in-situ metal value at the indicated metalprices.
Figure 1 – Drill Hole Location Map
Figure 2 – Long Section of Step-Out Hole DDH 21-066,Located ~350m Beyond Current Pit Boundary
As seen in Figure 2 above, hole DDH 21-066 furtherestablishes the potential for mineralisation to continue to expandtowards the northeast. The gold resource blocks are shown in red,while the silver resource blocks are in blue. All blocks outsideof the open pit constraint, were not included in the PEA studycompleted in November 2021.
Discussion of Drill Hole Results
Holes DDH 21-065 and DDH 21-066 were drilled to testthe north-eastern extension of the Oculto mineralized system beyondthe existing PEA open pit boundary. Hole DDH 21-065 intersectedhigh-grade gold beneath the pit on the Main breccia zone, while holeDDH 21-066 intersected high-grade gold approximately 350 metersnortheast of the open pit boundary on the West/North breccia zone.Importantly, the West and North breccia zones appear very close in thevicinity of hole DDH 21-066 and may coalesce. The mineralisation mayexpand into the undrilled area northeast of hole DDH 21-066, which isessentially a newly discovered mineralized zone. The Company willimmediately conduct further drilling in this area.
Hole DDH 21-065 intersected multiple mineralised zonesstarting at 72 meters downhole, including 14.0meters at 5.07 g/t gold, 12.2 g/t silver and 0.44% copper from 291 to 305 meters, including 2.0meters at 15.73 g/t gold, 19.7g/t silver and 0.87% copper . This is the gold-dominant mineralisation in anoxide/sulphide transition zone and shows potential to expand the openpit at depth and towards the northeast.
Hole DDH 21-066 intersected high grade goldmineralisation approximately 350 meters northeast of the open pitmargin, with 4.0 meters at 5.87 g/t gold and63.6 g/t silver from 169 to 173 meters and 8.5 meters at 2.77 g/t gold and 62.6 g/tsilver from 191.5 to 200.0 meters. This is anextension of the West Breccia zone and potentially opens up a newlydiscovered mineralized zone, as shown in Figure 2 above.
Both drill holes demonstrate the potential to allow anorth-eastwards expansion of the conceptual PEA open pit, as well asdeeper, underground mineable grades in oxide mineralisation.
Figure 3 – Cross Section (Looking East) withHighlighted intercepts in Hole DDH 21-065
Figure 4 - Cross Section (Looking East) withHighlighted intercepts in Hole DDH 21-066
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth | |
DDH 21-065 | E720372 | N7199566 | 4,288 | 180 | -60 | 326 |
DDH 21-066 | E720583 | N7199960 | 4,267 | 180 | -60 | 302 |
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 over90,000 meters 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 Mineral Resource for the Oculto Deposit is shown inTable 2 below:
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 transportedfrom the drill platform to the logging facility where drill data iscompared and verified with the core in the trays. Thereafter, it islogged, photographed, and split by diamond saw prior to being sampled.Samples are then bagged, and quality control materials are inserted atregular intervals; these include blanks and certified referencematerials as well as duplicate core samples which are collected inorder to measure sample representivity. Groups of samples are thenplaced in large bags which are sealed with numbered tags in order tomaintain a chain-of-custody during the transport of the samples fromthe project site to the laboratory.
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 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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