(TheNewswire)
Includes Impressive 13 Metre Interval Grading 1,029 g/tAgEq (14.7 g/t AuEq) in Oxides
Toronto – TheNewswire - April 11, 2022: AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTC:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce assay results fromthree new diamond drill holes from the ongoing Phase II drill programon the Company’s wholly owned Diablillos property in Salta Province,Argentina. Highlight intercepts include:
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Hole DDH 22-004 returned the thickest, high-grade intercept on record at theproject with 140 metres at 301 g/t AgEq (219 g/t Ag and 1.17 g/t Au), including 13 metres at 1,029 g/t AgEq (951 g/t Ag and 1.12 g/t Au) in the Tesoro Zone; and
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Hole DDH 22-002 intersected multiple zones of shallow gold and silvermineralization, with 44 metres at 256 g/tAgEq (116 g/t Ag and 2.00 g/t Au); including 10 metres at 669 g/t AgEq (197 g/t Ag and 6.74 g/t Au) in the southwestern extension ofthe Main Breccia.
John Miniotis, President and CEO, commented, “We aredelighted to continue to receive additional wide, high-gradeintercepts from our ongoing exploration program. Hole 22-004 is thethickest high-grade intercept ever recorded on the Diablillos projectand will serve to augment the Measured Mineral Resources associatedwith the Tesoro Zone. Additionally, holes 22-001 and 22-002 will addto the shallow Mineral Resources within the conceptual open pit whichshould result in further improvement to the economics of the project. All of our Phase II drill results will be incorporated into anupdated Mineral Resource estimate which remains on schedule for thethird quarter of this year.”
The latest assay result highlights are summarized inTable 1 below.
Table 1 – Drill Result Highlights
(Intercepts greater than 2,000 gram-meters 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-22-001 | 54 | 78.5 | Oxides | 24.5 | 57.8 | 0.71 | 107.5 | 1.54 | |
DDH-22-001 | 103.5 | 149 | Oxides | 45.5 | 59.2 | 0.31 | 80.9 | 1.16 | |
DDH-22-001 | Including | 103.5 | 123 | Oxides | 19.5 | 98.4 | 0.19 | 111.7 | 1.60 |
DDH-22-002 | 75.5 | 83.5 | Oxides | 8.0 | 35.4 | 2.30 | 196.4 | 2.81 | |
DDH-22-002 | 92.5 | 136.5 | Oxides | 44.0 | 115.8 | 2.00 | 255.8 | 3.65 | |
DDH-22-002 | Including | 104.5 | 125.5 | Oxides | 21.0 | 162.3 | 3.73 | 423.4 | 6.05 |
DDH-22-002 | Including | 106.5 | 116.5 | Oxides | 10.0 | 196.7 | 6.74 | 668.5 | 9.55 |
DDH-22-002 | 138.5 | 144.5 | Oxides | 6.0 | 326.8 | 0.12 | 335.2 | 4.79 | |
DDH-22-004 | 31 | 38 | Oxides | 7.0 | 20.8 | 0.83 | 78.9 | 1.13 | |
DDH-22-004 | 131 | 271 | Oxides | 140.0 | 219.0 | 1.17 | 300.9 | 4.30 | |
DDH-22-004 | Including | 146 | 203 | Oxides | 57 | 368.8 | 0.81 | 425.5 | 6.08 |
DDH-22-004 | Including | 176 | 189 | Oxides | 13 | 950.9 | 1.12 | 1,029.3 | 14.70 |
DDH-22-004 | 278.5 | 284 | Oxides | 5.5 | 207.5 | 0.44 | 238.3 |
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 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
Hole DDH 22-001 was drilled to test for shallow oxidemineralisation in the northern part of the Oculto zone (West Breccia).The hole successfully intersected two mineralised zones, with 24.5 metres at 58 g/t Ag and 0.71 g/t Au from 54 to 78.5 meters, and 45.5 metres at 59 g/t Ag and 0.31 g/tAu from 103.5 to 149.0 meters.
Hole DDH 22-002 was drilled to test for shallow oxidemineralization at Oculto in the southwestern part of the Main Breccia.The hole intersected several mineralised zones, with 44.0 metres at 116 g/t Ag and 2.00 g/t Au from 92.5 to 136.5 metres, including 10.0 metres at 197 g/t Ag and 6.74 g/t Au from 106.5 to 116.5 meters. A further intercept wasencountered totaling 6.0 metres at 327 g/t Agand 0.12 g/t Au from 138.5 to 144.5 meters.
The intercepts in holes DDH 22-001 and DDH 22-002 areexpected to help further expand shallow Mineral Resources within theproposed open pit and reduce the overall stripping ratio.
Hole DDH 22-004 was drilled perpendicular to theintersection of the Main and Cross Breccias to test the true thicknessof the high-grade Tesoro Zone. The hole encountered several high-grademineralised zones including 140 metres at 219g/t Ag and 1.17 g/t Au from 131.0 to 271.0meters, including 57 metres at 369 g/t Ag and0.81 g/t Au , as well as 13metres at 951 g/t Ag and 1.12 g/t Au. Thiswide high-grade intercept of gold and silver mineralization isexpected to add substantially to the Measured Mineral Resources atOculto.
Exploration Outlook
A total of 15,668 metres has now been completed as partof the Company’s 20,000 metre Phase II exploration program atDiablillos. Drills are focused on expanding mineralization forinclusion in the next Mineral Resource Estimate, anticipated in thethird quarter 2022, as well as in-fill drilling (estimated 25 metrespacing) to reclassify existing Indicated Mineral Resources to theMeasured category. To date, our Phase II drill results reveal theexceedingly high-grade nature of the Diablillos project and validatesthe Company’s geological model. The best results to date aresummarized in Table 1, below.
Table 1 – Diablillos Project – Top Phase II DrillIntercepts Reported To Date
Hole | From (m) | To (m) | Type | Interval (m) | Ag (g/t) | Au (g/t) | AgEq 1 (g/t) | AuEq 1 (g/t) |
22-004 | 131 | 271 | Oxides | 140.0 | 219.0 | 1.17 | 300.9 | 4.30 |
21-038 | 112 | 221.3 | Oxides | 109.3 | 176.8 | 1.53 | 283.9 | 4.06 |
21-067 | 242 | 308 | Oxides | 66.0 | 57.0 | 1.90 | 190.0 | 2.71 |
21-068 | 89 | 146 | Oxides | 57.0 | 108.0 | 1.47 | 210.9 | 3.01 |
21-022 | 192 | 245 | Oxides | 53.0 | 33.3 | 2.49 | 207.6 | 2.97 |
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 2 – Cross Section (Looking East) withHighlighted intercepts in Hole DDH 22-001
Figure 3 - Cross Section (Looking East) withHighlighted intercepts in Hole DDH 22-002
Figure 4 - Cross Section (Looking East) withHighlighted intercepts in Hole DDH 22-004
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth | |
DDH 22-001 | E720249 | N7199629 | 4,253 | 0 | -60 | 149 |
DDH 22-002 | E720028 | N7199178 | 4,211 | 0 | -60 | 176 |
DDH 22-003 | E720405 | N7199772 | 4,259 | 180 | -60 | 374 |
DDH 22-004 | E720291 | N7199330 | 4,292 | 315 | -60 | 338 |
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 a highlyeconomic project. The Company is led by an experienced management teamand has long-term supportive shareholders including Mr. Eric Sprottand SSR Mining. 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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