AbraSilver Resource (TSXV:ABRA) Intersects 797 g/t AgEq Over 25 Metres, High-Grade Silver Near-Surface at Diablillos Property

AbraSilver Resource (TSXV:ABRA) has announced new assay results from the ongoing Phase III drill program at the Diablillos property in Salta Province, Argentina. The results come from four additional diamond drill holes at the company’s 100%-owned property with significant results from the New JAC Zone. 

Figure 1 – Diablillos Magnetic Map Plan View of Recent Drill Holes & Exploration Targets. Source: AbraSilver Resource

John Miniotis, President and CEO, commented in a press release: “We continue to encounter very impressive drill results, in practically every drill hole, in the new JAC zone.    We are also very pleased that the Company remains well-funded to complete the recently expanded drill campaign and deliver on its next set of upcoming milestones including: additional drill results from JAC and other targets, drill results from the La Copita project, an updated Mineral Resource Estimate and a Pre-Feasibility Study at Diablillos before the end of the year. With multiple significant catalysts on the horizon and ongoing exploration drilling, we expect investors will ultimately recognize AbraSilver’s significant value proposition.”

Figure 2 – Long Section Through Newly Announced Drill Holes in JAC Zone. Source: AbraSilver Resource

Highlights from the results are as follows:

  • DDH 22-083 intersected a broad zone of high-grade silver mineralization in mixed oxides and sulphides, with 25.0 metres at 774 g/t Ag, 0.28 g/t Au and 1.36% Cu starting from a down-hole depth of 159 metres. The interval contained high-grade copper with associated silver mineralization in sulphide bearing feeder structures near the base of the hole.    
  • DDH 22-086 encountered high-grade silver and copper in sulphides containing 9.0 metres at 342 g/t Ag and 1.55% Cu, directly beneath an oxide zone of 5.0 metres grading 282 g/t Ag 
  • DDH 23-002 intersected high-grade silver mineralization in an oxide/sulphide transition zone, with 17.0 metres at 289 g/t Ag, including bonanza grades of 2,029 g/t Ag and 2.09 g/t Au over 1.0 metre.  
  • DDH 23-083 encountered multiple zones of silver mineralization in oxides, and 5.8 meters at 502 g/t Ag and 0.26% Cu in sulphides starting at 156 metres down-hole. 

The latest assay result highlights are summarized in Table 1 below.

Table 1 – Diablillos Drill Result Highlights in JAC Zone

(Intercepts greater than 2,000 gram-metres AgEq shown in bold text):

Drill Hole   From (m) To (m) Type Interval (m) Ag g/t Au g/t Cu % AgEq1 g/t
DDH-22-083   152.5 155.5 Oxides 3.0 188.9 0.11 197.9
DDH-22-083   159.0 184.0 Transition 25.0 773.8 0.28 1.36 796.7
DDH-22-083 Includes 162.5 171.0 Sulphides 8.5 694.7 0.10 3.36 702.9
DDH-22-086   72.0 87.0 Oxides 15.0 56.9 56.9
DDH-22-086   153.0 158.0 Oxides 5.0 282.2 282.2
DDH-22-086   158.0 167.0 Sulphides 9.0 342.3 1.55 342.3
DDH-23-002   148.0 165.0 Transition 17.0 288.6 0.14 300.1
DDH-23-002 Includes 155.0 165.0 Transition 10.0 463.1 0.23 481.9
DDH-23-002 Includes 160.0 161.0 Sulphides 1.0 2,029.0 2.09 2,200.2
DDH-23-003   87.5 110.0 Oxides 22.5 32.4 32.4
DDH-23-003   115.0 119.0 Oxides 4.0 84.6 84.6
DDH-23-003   133.0 141.0 Oxides 8.0 79.3 79.3
DDH-23-003   155.8 161.5 Sulphides 5.8 502.2 0.26 502.2

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 based on 81.9(Ag):1(Au) calculated using long-term prices of US$25.00/oz Ag and US$1,750/oz Au, and 73.5% process recovery for Ag, and 86.0% process recovery for Au as demonstrated in the Company’s Preliminary Economic Assessment in respect of Diablillos dated January 13, 2022, using formula:  AgEq g/t = Ag g/t + Au g/t x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).  No value is ascribed to copper grades in the AgEq calculations.

Exploration Update  

Drilling activity at Diablillos remains focused on the recently discovered JAC zone which is located several hundred metres southwest of the conceptual open pit that constrains the current Mineral 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 12,900 metres of drilling, in 65 holes, as part of the 22,000-metre Phase III program.  Drilling results to date, combined with interpretation of magnetics, suggest that the new JAC zone remains open in multiple directions.

At the La Copita project, drilling is progressing with the hole currently at a down-hole depth of approximately 130 metres.  The deep hole is targeting the anticipated higher-grade zone of the porphyry system intercepted in hole DDHC 22-002.  

Collar Data

Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 22-083 E719676 N7198689 4,165 0 -60 200
DDH 22-086 E719550 N7198700 4,156 0 -60 173
DDH 23-002 E719625 N7198665 4,161 0 -60 182
DDH 23-003 E719551 N7198611 4,156 0 -60 168

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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