(TheNewswire)
Near-Surface, High-Grade Intercepts Include 14.5m at3.41 g/t Gold-Equivalent (239 g/t Silver-Equivalent)
Toronto - TheNewswire - January 20, 2022: AbraSilver Resource Corp.(TSXV:ABRA ) ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce the latestdiamond drill hole assays from the Company’s ongoing Phase II drillprogram, on its wholly-owned Diablillos property in Salta Province,Argentina. The reported drill holes were focused on two key areas: (i)Northeast zone (holes DDH-21-058 and DDH-21-064), and (ii) shallowgold zone (holes DDH-21-059 through DDH-21-063)
John Miniotis, President and CEO, commented, “We arevery pleased with the consistent drill results we continue tointersect as part of our ongoing Phase II drill program. Ourstep-out holes in the Northeast zone continue to deliver significantoxide gold and silver intercepts outside of the existing MineralResource. Additionally, our shallow infill drill program isconfirming and improving the existing resource which will be veryimportant in the early economics of the open pit. Overall, ourongoing drilling program continues to expand the size and quality ofthe Diablillos project, which should be reflected in an updatedMineral Resource Estimate to be announced later this year.”
The latest assay result highlights are summarized inTable 1 and Table 2 below.
Results from Northeast Zone
Step-out drill results include wide, high-grade oxidegold intercepts in the Northeast zone testing the extension of theOculto system well outside the 2021 open pit boundary:
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DDH-21-058: 22.0m at 2.53 g/t gold and 21.6 g/tsilver (206-228m),
including 6.0m at 4.68 g/t gold and 19.7g/t silver
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DDH-21-064: 61.0m at 0.71 g/t gold and 140.2 g/tsilver (86-147m)
Including 4.0m at 0.26 g/t gold and 825.2g/t silver
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 | AuEq 1 g/t | AgEq 1 g/t | |
DDH-21-058 | 155 | 165 | Oxides | 10.0 | 1.33 | 15.0 | 1.54 | ||
DDH-21-058 | 190 | 193 | Oxides | 3.0 | 1.27 | 27.0 | 1.66 | 115.9 | |
DDH-21-058 | 206 | 228 | Oxides | 22.0 | 2.53 | 21.6 | 2.84 | 198.7 | |
DDH-21-058 | Including | 206 | 212 | Oxides | 6.0 | 4.68 | 19.7 | 4.96 | 347.3 |
DDH-21-058 | 234 | 236 | Oxides | 2.0 | 1.97 | 29.2 | 2.39 | 167.1 | |
DDH-21-058 | 240 | 242 | Oxides | 2.0 | 3.85 | 26.9 | 4.23 | 296.4 | |
DDH-21-064 | 86 | 147 | Oxides | 61.0 | 0.71 | 140.2 | 2.71 | 189.9 | |
DDH-21-064 | Including | 86 | 111 | Oxides | 25.0 | 1.59 | 124.4 | 3.37 | 235.7 |
DDH-21-064 | Including | 142 | 146 | Oxides | 4.0 | 0.26 | 825.2 | 12.05 | 843.4 |
DDH-21-064 | 221 | 222 | Oxides | 1.0 | 1.53 | 16.4 | 1.76 | 123.5 | |
DDH-21-064 | 284 | 285.5 | Oxides | 1.5 | 1.91 | 23.5 | 2.25 |
Results from Shallow gold zone
Holes DDH-21-059 through DDH-21-062 tested the westerncontinuation of shallow mineralization at Oculto and DDH-21-063 testedfor shallow mineralization at the eastern edge of Oculto. Most ofthese holes encountered wide, consistently mineralized intercepts inthe shallow gold zone:
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DDH-21-063: 14.5m at 1.44 g/t gold 138.2 g/t silver(61.5-76m)
Table 2 – Drill Results of Holes in the Shallow GoldZone
(Intercepts greater than 2,000 gram-meter AgEq shown inbold 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-21-059 | 39 | 57 | Oxides | 18.0 | - | 90.9 | 1.30 | 90.9 | |
DDH-21-059 | Including | 54 | 56 | Oxides | 2.0 | - | 236.0 | 3.37 | 236.0 |
DDH-21-059 | 69 | 77 | Oxides | 8.0 | - | 197.8 | 2.83 | 197.8 | |
DDH-21-060 | 17 | 40 | Oxides | 23.0 | - | 57.0 | 0.81 | 57.0 | |
DDH-21-061 | 33.5 | 35.5 | Oxides | 2.0 | 1.11 | 8.8 | 1.24 | 86.5 | |
DDH-21-061 | 46 | 49 | Oxides | 3.0 | 0.22 | 37.6 | 0.76 | 53.0 | |
DDH-21-062 | 38 | 43.5 | Oxides | 5.5 | - | 121.7 | 1.74 | 121.7 | |
DDH-21-062 | 51 | 54 | Oxides | 3.0 | - | 74.2 | 1.06 | 74.2 | |
DDH-21-062 | 112 | 117 | Oxides | 5.0 | - | 30.5 | 0.44 | 30.5 | |
DDH-21-063 | 61.5 | 76 | Oxides | 14.5 | 1.44 | 138.2 | 3.41 | 239.0 | |
DDH-21-063 | 80 | 86 | Oxides | 6.0 | - | 40.6 | 0.58 | 40.6 | |
DDH-21-063 | 88 | 91 | Oxides | 3.0 | - | 41.9 | 0.60 | 41.9 | |
DDH-21-063 | 96 | 162 | Oxides | 66.0 | 0.17 | 70.7 | 1.18 | 82.6 | |
DDH-21-063 | 172 | 185 | Oxides | 13.0 | - | 58.4 | 0.83 | 58.4 |
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 and $25.00/ozAg. The calculations assume 100% metallurgical recovery and areindicative of gross in-situ metal value at the indicated metal prices.
Figure 1 – Drill Hole Location Map
Discussion of Drill Hole Results
Holes DDH 21-058 and DDH 21-064 were drilled to testthe north-eastern extension of the Oculto system beyond the currentopen pit boundary.
Hole DDH 21-058 successfully intersected severalhigh-grade mineralised zones, with 22.0 metersat 2.53 g/t gold and 21.6 g/t silver from 206 to228 meters, including 6.0 meters at 4.68 g/tgold and 19.7 g/t silver . This intercept islocated approximately 200 meters north of the existing pitboundary.
Hole DDH 21-064 intersected gold and silvermineralisation over substantial thicknesses, demonstrating part of arobust mineralised system that is being drilled systematically. Thehighlight intercept contained 61.0 meters at0.71g/t gold and 140.2g/t silver from 86 to 147meters, including 15 meters at 1.96 g/t gold and164.3 g/t silver . This intercept is locatedapproximately 50 meters northeast of the existing pit boundary.
Both these holes demonstrate the potential to allow anorth-eastwards expansion of the Whittle pit, as well as deeper,underground mineable grades in oxide mineralisation.
Holes DDH 21-059 through DDH 21-062 were designed toexpand shallow mineral resources and convert material previouslyclassified as waste into mineral resources. Our shallow drillingprogram continues to have great success, with these latest resultshighlighting the continuation of mineralised structures beneath coverrocks between the main Oculto deposit and Fantasma satellite depositto the northwest.
Hole DDH 21-063 was drilled on the eastern margin ofOculto and intersected 14.5 meters at 1.44g/tgold and 138.2g/t silver from 61.5 to 76 meters,highlighting the potential to continue to add high-grade gold andsilver mineralization near-surface. It also encountered anotherbroad interval of mineralization starting at 96 meters downhole,grading 0.27g/t gold and 70.7g/t silver over 66 meters.
Figure 2 – Cross Section (Looking East) withHighlighted intercepts in Hole DDH 21-058
Figure 3 - Cross Section (Looking East) withHighlighted intercepts in Hole DDH 21-063
Figure 4 – Cross Section (Looking East) withHighlighted intercepts in Hole DDH 21-064
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth | |
DDH 21-058 | E720440 | N7199878 | 4,256 | 180 | -60 | 302 |
DDH 21-059 | E719438 | N7199622 | 4,172 | 0 | -60 | 150 |
DDH 21-060 | E719488 | N7199618 | 4,173 | 0 | -60 | 119.2 |
DDH 21-061 | E719940 | N7199433 | 4,204 | 0 | -60 | 130 |
DDH 21-062 | E719874 | N7199151 | 4,185 | 0 | -60 | 134 |
DDH 21-063 | E720421 | N7199490 | 4,325 | 180 | -60 | 225 |
DDH 21-064 | E720579 | N7199613 | 4,306 | 180 | -60 | 290.4 |
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 3 below:
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 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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