(TheNewswire)
Latest High-Grade Silver-Gold Intercept in the TesoroZone Includes 30m at 609 g/t AgEq (8.70 g/t AuEq)
Toronto – TheNewswire - August 22, 2022: AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is very pleased to announce new assayresults from four diamond drill holes from the Phase II program on theCompany’s wholly-owned Diablillos property in Salta Province,Argentina (“Diablillos” or the “Project”).
Wide zones of high-grade mineralization wereencountered in all four holes. Hole DDH 22-037 was an in-fill holedrilled vertically in the Tesoro zone and contains the thickest,high-grade silver-gold intercept ever encountered on the Project. Key takeaways include:
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Hole DDH 22-037 intersected 155 metres at 289 g/t AgEq (4.1 g/t AuEq – comprised of 185 g/t Ag and1.48 g/t Au) in oxides starting at a down-holedepth of only 71 metres The hole included a 30metre interval grading 609 g/t AgEq (8.70 g/tAuEq – comprised of 238 g/t Ag 5.30 g/t Au);
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Hole DDH 22-026 was a step-out hole in the OcultoNorthEast zone, located well beyond the conceptual open pit boundary,and intersected several zones of high-grade gold mineralization,including 37.5 metres at 187 g/tAgEq (2.7 g/t AuEq –comprised of 2.56 g/t Au and 8 g/t Ag)
John Miniotis, President and CEO, commented, “Overthe past month alone, we have announced two holes from our Tesoro zonefor which the mineralized intercepts rank among the best in the worldover the past two years, in addition to discovering a brand new zonein the Southwest located over 500 metres beyond the conceptual openpit boundary. By all measures, our 20,000-metre Phase II program hasbeen a resounding success, which we expect will result in asignificant increase in the Mineral Resource estimate to be announcedlater this year”.
The latest assay result highlights are summarized inTable 1 and Table 2 below.
Table 1 – Diablillos Hole DDH 22-037
Drill Hole | From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | AgEq 1 g/t | AuEq 1 g/t | |
DDH-22-037 | 71 | 226 | Oxides | 155.0 | 185.5 | 1.48 | 289.1 | 4.13 | |
DDH-22-037 | Includes | 167 | 197 | Oxides | 30.0 | 238.3 | 5.30 | 609.3 | 8.70 |
DDH-22-037 | Includes | 178 | 191 | Oxides | 13.0 | 158.3 | 8.10 | 725.3 | 10.36 |
Dave O’Connor, Chief Geologist, commented, “We arevery pleased with the latest world-class silver and gold interceptsreported from the Tesoro zone, which further demonstrates theexcellent upside potential of this high-grade zone. Importantly, eachof the other three holes reported today also encountered robust gradesand thicknesses which continue to add to our knowledge of themineralized structures in the Northeast zone, where numerousmineralized breccia zones extend well beyond the previouslycontemplated open pit boundary.”
Table 2 – Diablillos Other Drill ResultHighlights
(Intercepts greater than 2,000 gram-metres AgEq shownin bold text) :
Drill Hole | From (m) | To (m) | Type | Interval (m) | Ag g/t | Au g/t | AgEq 1 g/t | AuEq 1 g/t | |
DDH-22-025 | 120 | 123 | Oxides | 3.0 | 65.2 | 0.01 | 65.9 | 0.94 | |
DDH-22-025 | 139 | 148 | Oxides | 9.0 | 49.0 | 0.32 | 71.4 | 1.02 | |
DDH-22-025 | 150 | 151 | Oxides | 1.0 | 344.4 | 0.58 | 385.0 | 5.50 | |
DDH-22-025 | 183 | 207 | Oxides | 24.0 | 50.9 | 1.85 | 180.4 | 2.58 | |
DDH-22-025 | 210 | 213 | Oxides | 3.0 | 24.6 | 0.96 | 91.8 | 1.31 | |
DDH-22-025 | 215 | 218 | Oxides | 3.0 | 28.6 | 1.05 | 102.1 | 1.46 | |
DDH-22-025 | 226 | 228 | Oxides | 2.0 | 28.7 | 2.18 | 181.3 | 2.59 | |
DDH-22-025 | 232 | 246 | Oxides | 14.0 | 24.0 | 1.36 | 119.2 | 1.70 | |
DDH-22-025 | 263 | 276 | Oxides | 13.0 | 19.1 | 1.33 | 112.2 | 1.60 | |
DDH-22-025 | 288 | 292.5 | Oxides | 4.5 | 19.6 | 5.25 | 387.1 | 5.53 | |
DDH-22-026 | 148.5 | 156 | Oxides | 7.5 | 171.2 | 0.96 | 238.4 | 3.41 | |
DDH-22-026 | 163 | 167 | Oxides | 4.0 | 44.1 | 2.39 | 211.4 | 3.02 | |
DDH-22-026 | 205 | 207.5 | Oxides | 2.5 | 54.5 | 1.11 | 132.2 | 1.89 | |
DDH-22-026 | 228.5 | 243 | Oxides | 14.5 | 39.4 | 3.81 | 306.1 | 4.37 | |
DDH-22-026 | Includes | 235 | 243 | Oxides | 8.0 | 40.2 | 5.20 | 404.2 | 5.77 |
DDH-22-026 | 253 | 271.5 | Oxides | 18.5 | 35.3 | 1.71 | 155.0 | 2.21 | |
DDH-22-026 | 295 | 332.5 | Oxides | 37.5 | 8.1 | 2.56 | 187.3 | 2.68 | |
DDH-22-026 | Includes | 323.5 | 332.4 | Oxides | 9.0 | 4.4 | 3.40 | 242.4 | 3.46 |
DDH-22-028 | 62.5 | 106 | Oxides | 43.5 | 114.6 | 0.15 | 125.1 | 1.77 | |
DDH-22-028 | 121 | 138 | Oxides | 17.0 | 31.5 | 0.35 | 56.0 | 0.80 | |
DDH-22-028 | 157 | 159 | Oxides | 2.0 | 28.6 | 0.59 | 69.9 | 1.00 | |
DDH-22-028 | 162 | 177 | Oxides | 15.0 | 24.9 | 0.60 | 66.9 | 0.96 | |
DDH-22-028 | 184 | 188 | Oxides | 4.0 | 36.5 | 2.38 | 203.1 | 2.90 | |
DDH-22-028 | 191 | 193 | Oxides | 2.0 | 12.1 | 1.24 | 98.9 | 1.41 | |
DDH-22-028 | 199 | 210 | Oxides | 11.0 | 35.1 | 2.32 | 197.5 | 2.82 | |
DDH-22-028 | 248.5 | 250 | Oxides | 1.5 | 28.2 | 0.93 | 93.3 | 1.33 | |
DDH-22-028 | 253 | 255 | Oxides | 2.0 | 35.6 | 1.71 | 155.3 | 2.22 | |
DDH-22-028 | 261 | 264 | Oxides | 3.0 | 36.5 | 2.27 | 195.4 | 2.79 | |
DDH-22-028 | 268 | 274 | Oxides | 6.0 | 28.2 | 1.07 | 103.1 | 1.47 | |
DDH-22-028 | 285.5 | 290 | Oxides | 4.5 | 20.2 | 1.88 | 151.8 | 2.17 | |
DDH-22-028 | 292 | 310 | Transition | 18.0 | 28.5 | 1.38 | 125.1 | 1.79 | |
DDH-22-028 | 314.5 | 317 | Sulphides | 2.5 | 8.8 | 1.17 | 90.7 | 1.30 | |
DDH-22-028 | 349 | 350 | Sulphides | 1.0 | 26.5 | 3.33 | 259.6 | 3.71 | |
DDH-22-028 | 360 | 361 | Sulphides | 1.0 | 62.1 | 5.56 | 451.3 |
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 forreported drill results are based on USD $1,750/oz and $25.00/oz Ag.The calculations assume 100% metallurgical recovery and are indicativeof gross in-situ metal value at the indicated metal prices.
Figure 1 – Oculto Plan View of Drill Results
Figure 2 below highlights the Oculto mineralised systemwhich is now known to extend well beyond the conceptual open pit andis open for at least two kilometres along strike. Drilling iscontinuing both to the northeast and southwest as well as laterally,demonstrating increasing tonnage potential of the system.
Figure 2 – Long-Section of Drill Results
Note: Results of hole DDH 22-019 in the Southwestzone were previously reported on Aug. 3, 2022 and the hole is includedfor perspective.
Discussion of Drill Hole Results
Holes DDH 22-025 and DDH 22-026 were step-out holesdrilled in the Oculto NorthEast zone, located well outside of theconceptual open pit boundary. Both holes intersected high-grade goldmineralization in what is interpreted as being an enrichment zone atthe intersection of the North and West breccias.
Hole DDH 22-025 intersected several well-mineralizedzones throughout the hole, including 24 metresat 51 g/t Ag and 1.85 g/t Au in oxides from adownhole depth of 232 metres. Hole DDH 22-026 also encounteredwidespread gold mineralization throughout the hole, with the highlightinterval being 37.5 metres at 8.1g/t Ag and 2.56g/t Au from 295 to 332.5 metres.
Hole DDH 22-028 was drilled on the margin of theconceptual open pit outline to test for extensions continuing beyondthe pit towards the northeast. The hole successfully intersectedshallow mineralization in oxides, with 43.5metres at 114.6 g/t Ag and 0.15 g/t Au startingfrom a downhole depth of only 62.5 metres .Importantly, high-grade gold mineralization was also encountered inthe hole starting at a downhole depth of 184 metres, located outsideof the conceptual open pit boundary and continuing beneath the oxidesinto the underlying deeper sulphide mineralization.
Hole DDH 22-037 was a vertical hole drilled to supportthe expansion of the Mineral Resources in the high-grade Tesoro zoneto be classified in the Measured category. The hole intersected the thickest, high-grade interval ever encountered on the Project,consisting of 155 metres at 185.5 g/t Ag and1.48 g/t Au, starting from a vertical depth of only 71 metres. The intersection included several high-gradezones, such as 30 metres at 238.3g/t Ag and5.30g/t Au, and 13 metres at 158 g/t Ag and 8.10 g/t Au. Hole DDH 22-037 will also be used formetallurgical testwork and was drilled vertically in order to get atrue representation of the characteristics of mineralisation withdepth.
Figure 3 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-026
Figure 4 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-028
Figure 5 – Cross Section (Looking Northeast) withHighlighted Intercepts in Hole DDH 22-037
Diablillos Drill Program Update
The Company’s Phase II, 20,000-metre drill programhas been successfully completed, having delivered numerous positiveresults throughout the past year. At this time, assay results forthe final 7 holes from this campaign remain pending and are expectedto be received over the next few weeks. Once all assay results fromthe Phase II program are received, the Company will prepare andpublish an updated Mineral Resource estimate, which is anticipated tobe completed later this year. The best results to date from thePhase II program are summarized in Table 3, below.
Table 3 – Diablillos Project – Top Phase II DrillIntercepts Reported to Date
Hole | From (m) | To (m) | Zone | Interval (m) | Ag (g/t) | Au (g/t) | AgEq 1 (g/t) | AuEq 1 (g/t) |
22-037 | 71.0 | 226.0 | Tesoro | 155.0 | 185.5 | 1.48 | 289.1 | 4.13 |
22-004 | 131.0 | 271.0 | Tesoro | 140.0 | 219.0 | 1.17 | 300.9 | 4.30 |
21-038 | 112.0 | 221.3 | Tesoro | 109.3 | 176.8 | 1.53 | 283.9 | 4.06 |
22-019 | 89.0 | 176.0 | Southwest | 87.0 | 346.0 | 0.15 | 356.5 | 5.09 |
22-005 | 84.0 | 151.5 | Oculto SW | 67.5 | 157.4 | 1.95 | 293.9 | 4.20 |
21-067 | 242.0 | 308.0 | Oculto NE | 66.0 | 57.0 | 1.90 | 190.0 | 2.71 |
21-045 | 108.0 | 172.5 | Oculto SW | 64.5 | 125.6 | 0.61 | 171.4 | 2.28 |
21-064 | 86.0 | 147.0 | Oculto NE | 61.0 | 140.2 | 0.71 | 189.9 | 2.71 |
21-068 | 89.0 | 146.0 | Oculto SW | 57.0 | 108.0 | 1.47 | 210.9 | 3.01 |
21-022 | 192.0 | 245.0 | Oculto NE | 53.0 | 33.3 | 2.49 | 207.6 | 2.97 |
21-015 | 131.5 | 157.5 | Tesoro | 26.0 | 2,357.6 | 0.36 | 2,382.8 | 34.04 |
1 AgEq & AuEq calculationsfor reported drill results are based on USD $1,750/oz Au, and$25.00/oz Ag. The calculations assume 100% metallurgical recovery andare indicative of gross in-situ metal value at the indicated metalprices.
The Company’s 15,000-metre Phase III explorationprogram is well underway and is designed to further expand MineralResources across the Diablillos property. The size of the drillprogram may be expanded at a later date.
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 22-025 | E720554 | N7199854 | 4,272 | 180 | -60 | 338 |
DDH 22-026 | E720628 | N7199866 | 4,282 | 180 | -60 | 336.5 |
DDH 22-028 | E720400 | N7199622 | 4,281 | 0 | -60 | 377 |
DDH 22-037 | E720200 | N7199377 | 4,269 | 0 | -90 | 226 |
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 over100,000 metres 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 most recent Mineral Resource Estimate for theOculto Deposit is shown in Table 4 below:
Table 4 - 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 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. In addition, AbraSilver owns a portfolio ofearlier-stage copper-gold 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.
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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