AbraSilver drills 139 g/t silver over 103 metres at Diablillos, Argentina

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AbraSilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] reported new assay results from five diamond drill holes from the ongoing 15,000-metre Phase III exploration drilling program on the 100%-owned Diablillos property in Salta Province, Argentina.

Drilling activity is focused on the recently discovered Southwest zone (JAC target) located several hundred metres southwest of the conceptual open pit that constrains the current Mineral Resource estimate on the main Oculto deposit.

Key takeaways from the latest drill results include Hole DDH 22-060 that intersected a broad zone of silver mineralization in oxides, returning 40 metres grading 203 g/t silver from 114 to 154 metres, including 15 metres at 483 g/t silver.

DDH 22-061 intersected a wide zone of silver mineralization in oxides consisting of 103 metres grading 139 g/t silver starting at a down-hole depth of only 65 metres , including 9.0 metres grading 477 g/t silver and 0.23 g/t gold.

DDH 22-062 intersected 51 metres grading 169 g/t silver and 0.20 g/t gold from 119 to 170 metres, including 7.5 metres with 507 g/t silver and 0.22 g/t gold. Drilling also encountered 45 metres grading 1.34% copper and 33 g/t silver in the underlying sulphide zone.

DDH 22-063 encountered multiple zones of silver mineralization, including 33 metres grading 143 g/t silver starting from only 56 metres down-hole. Drilling also intersected 34.0 metres grading 119 g/t silver and 0.08 g/t gold starting at a down-hole depth of 135 metres.

John Miniotis, President and CEO, commented, “Our ongoing drilling program at the new JAC target continues to intercept extensive near-surface, high-grade silver mineralization. Both drill rigs are rapidly advancing our understanding of this exciting exploration target in preparation for announcing a maiden Mineral Resource estimate for this new zone in H1/2023, followed by a Pre-Feasibility Study on the entire Diablillos project.”

Dave O’Connor, Chief Geologist, commented, “Drilling at the JAC target continues to encounter high-grade silver mineralization in oxides at relatively shallow depths. Moreover, hole DDH 22-062 intersected a broad zone of copper sulphide mineralization with associated silver at the base of the oxide zone. We believe this may represent a feeder structure up which mineralization migrated into the JAC target and will be an aid to understanding the geology of this new zone. Importantly, mineralization ascended up these steeply dipping, structurally controlled feeders from an underlying intrusion (porphyry) and then migrated laterally along permeability horizons. As such, the feeders are of primary importance in understanding the system and consequently in exploration for Mineral Resources.”

Systematic grid drilling of the JAC target continues to progress rapidly. To date, assay results have been announced for a total of 14 holes in the JAC target, with all holes returning silver mineralization in oxides at reasonably shallow depths. The JAC target remains open in all directions, with a total of 30 holes having now been drilled in this new zone and assays currently pending for 16 holes.

The JAC target was discovered by drilling a linear magnetic anomaly interpreted correctly as resulting from the introduction of mineralizing hydrothermal fluids. A new detailed ground magnetic survey is currently being conducted at site to further expand the magnetic coverage, and is expected to generate additional exploration targets on other potentially mineralized zones in the southwestern part of the project. Any new targets will be evaluated as part of the ongoing drill program.

To date, several of the holes drilled in the JAC Zone have intersected underlying sulphide mineralization which is interpreted as representing steeply dipping feeder structures up which mineralizing fluids ascended from an underlying porphyry intrusion source. A CSAMT survey has been commissioned over the JAC target and the Oculto deposit to attempt to identify a resistivity-conductivity contrast which may be caused by an underlying mineralized porphyry.

At the La Coipita project, San Juan province, Argentina, the company plans to drill three additional deep holes as part of a 3,600-metre drill campaign scheduled to commence by the end of January 2023. The drilling is targeting the central potassic zone and the progenitor porphyry intrusion which the company believes may contain higher grade copper and associated molybdenum mineralization.

The 80 km2 Diablillos property is located in the Argentine Puna region – the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile – and was acquired from SSR Mining Inc. in 2016. There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with over 120,000 metres drilled to date.

AbraSilver is an advanced-stage exploration company focused on advancing its Diablillos silver-gold project. The current Measured and Indicated Mineral Resource estimate for Diablillos consists of 51.3 Mt grading 66 g/t silver and 0.79 g/t gold, containing approximately 109Moz silver and 1.3Moz gold, with significant further upside potential.

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