AbraSilver Resource Corp. (TSXV:ABRA) has announced new assay results from three of its new diamond drill holes at the Phase II drill program at the company’s Diablillos property in Salta Province, Argentina. The near-surface intercept includes silver grades of 1,423 g/t AgEq (20.3 g/t AuEq) over 4 metres.
The 80 km2 Diablillos property is in the Puna region of Argentina, and was originally acquired from SSR Mining in 2016. The property is located in the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile, a notable silver mining region. The Oculto mineral zone is the most advanced on the property with over 100,000 metres drilled to date.
John Miniotis, President and CEO, commented in a press release: “We are very encouraged by the numerous near-surface, high-grade silver results intersected in the Northeast zone by these latest drill holes, as well as the underlying high-grade gold intercepts. These results will be included in the updated Mineral Resource estimate which will be announced later this year. It is evident that the multiple zones of mineralisation being encountered in the Northeast zone should add substantially to our overall Mineral Resource estimate which continues to grow rapidly.”
Dave O’Connor, Chief Geologist, also commented: “These new results, drilled in the Oculto Northeast zone, help clearly demonstrate the continuity of numerous mineralized breccia zones in this highly prospective area. What is particularly encouraging is the newly discovered shallow, high-grade silver mineralization encountered in holes 21 and 24, which is expected to allow for a substantial expansion of the conceptual open pit towards the northeast.
Highlights from the results are as follows:
- DDH 22-021 intersected a near-surface, high-grade silver interval of 17m at 365 g/t AgEq (5.2 g/t AuEq – comprised of 355 g/t Ag and 0.14 g/t Au) in oxides starting at a down-hole depth of only 53 metresThis included a bonanza-grade 5m interval of 1,037 g/t AgEq (14.8 g/t AuEq – comprised of 1,022 g/t Ag 0.21 g/t Au);
- DDH 22-022 intersected multiple zones of high-grade gold mineralization, including a broad intercept of 34m at 156 g/t AgEq (2.2 g/t AuEq – comprised of 18 g/t Ag and 1.98 g/t Au);
- DDH 22-024 intersected near-surface, high-grade silver mineralization including a broad intercept of 43.5m grading 196 g/t AgEq (2.8 g/t AuEq – comprised of 188 g/t Ag and 0.11 g/t Au) in oxides starting at a down-hole depth of only 68.5 metres. The hole included a bonanza-grade interval of 4m at 1,423 g/t AgEq (20.3 g/t AuEq – comprised of 1,410 g/t Ag 0.18 g/t Au);
Figure 1 – Plan View of Drill Results
Table 1 – Diablillos Drill Result Highlights
(Intercepts greater than 2,000 gram-metres AgEq shown in bold text):
|Drill Hole||From (m)||To (m)||Type||Interval (m)||Ag
|Au g/t||Cu %||AgEq1 g/t||AuEq1 g/t|
Note: All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths. True widths are estimated to be approximately 80% of the interval widths.
1AgEq & AuEq calculations for reported drill results are based on USD $1,750/oz, $25.00/oz Ag & $3.00/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.
Source: AbraSilver Resource Corp.
Figure 2 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-021
Figure 3 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-022
Figure 4 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-024