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

Source: AbraSilver Resource Corp.

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

 g/t

Au g/t Cu  % AgEq1 g/t AuEq1 g/t
DDH-22-021   53 70 Oxides 17.0 355.2 0.14 365.0 5.21
DDH-22-021 Includes 56 61 Oxides 5.0 1,022.4 0.21 1,037.1 14.82
DDH-22-021   77 87 Oxides 10.0 79.3 0.65 124.8 1.78
DDH-22-021 Includes 85 86 Oxides 1.0 438.2 2.31 599.9 8.57
DDH-22-021   101.5 111 Oxides 9.5 24.8 0.72 75.2 1.07
DDH-22-021   119 131 Oxides 12.0 24.0 0.10 31.0 0.44
DDH-22-021   140 141 Oxides 1.0 69.4 17.26 1,277.6 18.25
DDH-22-021   212 221 Oxides 9.0 11.0 0.80 67.0 0.96
DDH-22-021   243 248 Oxides 5.0 20.4 1.23 106.5 1.52
DDH-22-021   260 264 Oxides 4.0 72.8 0.86 133.0 1.90
DDH-22-021   305 306 Sulphides 1.0 66.8 1.26 2.49 359.9 5.14
DDH-22-022   115 119 Oxides 4.0 5.4 1.54 113.2 1.62
DDH-22-022   243 245 Oxides 2.0 26.1 2.75 218.6 3.12
DDH-22-022   272 306 Oxides 34.0 17.5 1.98 156.1 2.23
DDH-22-022 Includes 275 285 Oxides 10.0 26.1 3.39 263.4 3.76
DDH-22-022   309 310 Oxides 1.0 23.0 3.54 270.8 3.87
DDH-22-022   314 315 Oxides 1.0 5.6 18.61 1,308.3 18.69
DDH-22-022   333 336 Oxides 3.0 17.8 5.69 416.1 5.94
DDH-22-022 Includes 334 335 Oxides 1.0 17.5 16.00 1,137.5 16.25
DDH-22-022   356 359 Oxides 3.0 17.0 1.65 132.5 1.89
DDH-22-022   377 378.5 Oxides 1.5 0.9 2.13 150.0 2.14
DDH-22-022   386 388 Sulphides 2.0 24.4 3.86 0.61 344.8 4.93
DDH-22-022   391 393 Sulphides 2.0 8.4 0.79 1.22 164.1 2.34
DDH-22-024   68.5 112 Oxides 43.5 187.8 0.11 195.5 2.79
DDH-22-024 Includes 105 112 Oxides 7.0 902.5 0.31 924.2 13.20
DDH-22-024 Includes 105 109 Oxides 4.0 1,410.2 0.18 1,422.8 20.33
DDH-22-024   122 170 Oxides 48.0 35.0 0.88 96.6 1.38
DDH-22-024 Includes 141 170 Oxides 29.0 42.0 1.38 138.6 1.98
DDH-22-024   176 195 Oxides 19.0 31.8 1.42 131.2 1.87
DDH-22-024   208 212 Oxides 4.0 29.8 1.78 154.4 2.21
DDH-22-024   236 238 Oxides 2.0 42.1 1.52 148.5 2.12
DDH-22-024   243 245 Oxides 2.0 32.8 1.07 107.7 1.54
DDH-22-024   260 275 Oxides 15.0 44.2 3.21 268.9 3.84

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

Source: AbraSilver Resource Corp.

Figure 3 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-022

Source: AbraSilver Resource Corp.

Figure 4 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-024

Source: AbraSilver Resource Corp.

 

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.

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