(TheNewswire)
Bonanza-Grade Interval is theAll-Time Highest-Grade Silver Result from Diablillos
Toronto, ON - TheNewswire - March 14, 2023 - AbraSilver Resource Corp. (TSX.V:ABRA ) ( OTC:ABBRF) (“ AbraSilver ” or the “ Company ”) is verypleased to announce assay results from its latest diamond drill holesfrom the ongoing Phase III program on the Company’s wholly-ownedDiablillos property in Salta Province, Argentina (“Diablillos” orthe “Project”).
Hole DDH 23-004 encountered the all-time highest-gradesilver intercept recorded on the entire Diablillos project todate . Key takeaways from hole DDH 23-004include:
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DDH23-004 intersected a broad zone of exceptionallyhigh-grade silver mineralization in oxides, with 14.0 metres at 3,025 g/t Ag and 0.21 g/t Au starting from a down-hole depth of 136 metres. This represents the bestintercept to date on the new JAC Zone on a grade-thicknessbasis.
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The hole also intersected the all-time highest-gradesilver intercept recorded on the Diablillos project, with 32,481 g/t Ag and 0.74 g/t Au over 1.0metre.
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This shallow oxide-hosted mineralization is located ina band approximately 50 metres north of the "main trend" ofsilver mineralisation in the JAC Zone and appears to be in a separate zone ofhigh-grade silver mineralisation
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Drilling resultsreceived so far indicate that there are three distinct, parallel zones of silver mineralisationwithin the JAC Zone , with the recentlyintersected "north zone" hosting very high-gradesilver.
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Diablillos Drill ResultHighlights in JAC Zone
(Intercepts greater than 2,000 gram-metres AgEq shownin bold text) :
From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | AgEq 1 g/t | ||
DDH-23-001A | 69.3 | 85.0 | Oxides | 15.7 | 105.2 | - | 105.2 | |
DDH-23-004 | 109.0 | 136.0 | Oxides | 27.0 | 60.5 | 0.26 | 81.8 | |
136.0 | 150.0 | Oxides | 14.0 | 3,024.5 | 0.21 | 3,041.7 | ||
DDH-23-004 | Includes | 138.0 | 139.0 | Oxides | 1.0 | 32,480.5 | 0.74 | 32,541.1 |
Note: All results in this news release arerounded. Assays are uncut and undiluted. Widths are drilled widths,not true widths. True widths are estimated to be approximately 80% ofthe interval widths.
1 AgEq based on 81.9(Ag):1(Au) calculated using long-termprices of US$25.00/oz Ag and US$1,750/oz Au, and 73.5% processrecovery for Ag, and 86.0% proces s recovery for Au as demonstrated inthe Company’s Preliminary Economic Assessment in respect ofDiablillos dated January 13, 2022, using formula: AgEq g/t = Ag g/t+ Au g/t x (Gold Price/Silver Price) x (Gold Recovery/SilverRecovery).
John Miniotis, President and CEO, commented,“World-class deposits consistently generate world-class results,which is what we believe we’ve been encountering at the new JACzone. The high-grade JAC zone exemplifies the exploration potentialthat remains at the Diablillos project, and we are incredibly excitedto be delineating a brand-new, near-surface, high-grade silver zone,which continues to remain open in multiple directions.”
Dave O’Connor, Chief Geologist, commented , “ While we have recently announced several spectacularintercepts from the new JAC target, hole DDH 23-004 is in a class ofits own. This remarkable near-surface intercept, which encountered14m of over 3,000 g/t Ag, in oxides, is located in a separate zonenorth of the “main” JAC mineralized zone, demonstrating potentialfor additional high-grade Mineral Resources. Drilling to date has shown that there are at least three parallelzones of silver mineralisation within the JAC zone, with the highestresults received so far being from the newly drilled "northzone" which we plan to drill systematically. This new high-gradezone is expected to augment the grade and size of the Mineral Resourceestimate planned at the end of the Phase III drill program.”
Exploration Update
Drilling activity at Diablillos remains focused on therecently discovered JAC zone which is located several hundred metressouthwest of the conceptual open pit that constrains the currentMineral Resource estimate (“MRE”) on the main Oculto deposit(M&I MRE containing 1.3 Moz gold and 109 Moz silver – Table 2).
To date, the Company has completed approximately 13,700metres of drilling, in 69 holes, as part of the 22,000-metre Phase IIIprogram. Drilling results to date, combined with interpretation ofmagnetics, suggest that the new JAC zone remains open in multipledirections.
Additional exploration targets, generated by therecently completed detailed ground magnetic survey, have beenidentified to the southwest of the Oculto MRE. Some of these targetsare expected to be drilled following the systematic drilling of theJAC Zone.
At the La Coipita project, drilling is progressing withthe hole currently at a down-hole depth of approximately 500 metres. The deep hole, with a planned depth of 1,300 m, is targeting theanticipated higher-grade zone of the porphyry system intercepted inhole DDHC 22-002.
Figure 1 – Plan View of AnnouncedDrill Holes in JAC Zone
Figures 2 displays a long-section of the latest drillresults from the JAC target, located to the southwest of the mainOculto deposit at Diablillos.
Figure 2 – Long Section ThroughNewly Announced Drill Holes in JAC Zone
Figure 3 shows intensechlorargyrite (silver chloride) mineralisation, which is the abundantsilver-grey mineral covering almost the entire image below. The sampleof drill core is from the 1.0 metre interval (138.0 – 139.0 metresdown hole) in hole DDH 23-004which assayed 32,481 g/t Ag and 0.74 g/t Au .
Figure 3 – ChlorargyriteMineralization from the Bonanza-Grade Silver Intercept in DDH 23-004
Note: The photo is a selective sample and notindicative of mineralization throughout hole DDH 23-004.
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 23-001A | E719524 | N7198691 | 4,155 | 0 | -60 | 205 |
DDH 23-004 | E719751 | N7198874 | 4,175 | 0 | -60 | 175 |
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 120,000 metres 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 most recent Mineral Resource estimate for theOculto Deposit is shown in Table 2:
Table 2 - Oculto Mineral Resource Estimate – As ofOctober 31, 2022
Category | Tonnage (000 t) | Ag (g/t) | Au (g/t) | Contained Ag (000 oz Ag) | Contained Au (000 oz Au) |
Measured | 19,336 | 98 | 0.88 | 60,634 | 544 |
Indicated | 31,978 | 47 | 0.73 | 48,737 | 752 |
Measured & Indicated | 51,314 | 66 | 0.79 | 109,370 | 1,297 |
Inferred | 2,216 | 30 | 0.51 | 2,114 | 37 |
Notes: Effective October 31, 2022. Mineral Resourcesare not Mineral Reserves and have not demonstrated economic viability.The Mineral Resource estimate is N.I. 43-101 compliant and wasprepared by Luis Rodrigo Peralta, B.Sc., FAusIMM CP(Geo), IndependentConsultant. The mineralization estimated in the Mineral Resource issub-horizontal with sub-vertical feeders and a reasonable prospect foreventual economic extraction by open pit methods. For additionalinformation please see Technical Report on the Diablillos Project,Salta Province, Argentina, dated November 28, 2022, completed byMining Plus, and available 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 an AAS finish. Silver results greater than 100g/tare reanalyzed using four acid digestion with an ore grade AASfinish.
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 an advanced-stage exploration companyfocused on rapidly advancing its 100%-owned Diablillos silver-goldproject in the mining-friendly Salta province of Argentina. Thecurrent Measured and Indicated Mineral Resource estimate forDiablillos consists of 51.3 Mt grading 66g/t Ag and 0.79g/t Au,containing approximately 109Moz silver and 1.3Moz gold, withsignificant further upside potential based on recent explorationdrilling. The Company is led by an experienced management team and haslong-term supportive shareholders including Mr. Eric Sprott. Inaddition, AbraSilver owns a portfolio of earlier-stage copper-goldprojects including the La Coipita copper-gold project in the San Juanprovince of Argentina. AbraSilver is listed on the TSX-V under thesymbol “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.When considering this forward-looking information, readers should keepin mind the risk factors and other cautionary statements in theCompany’s disclosure documents filed with the applicable Canadiansecurities regulatory authorities on SEDAR at www.sedar.com. Therisk factors and other factors noted in the disclosure documents couldcause actual events or results to differ materially from thosedescribed in any forward-looking information. The Company disclaimsany intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by law.
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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