Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] reported assay results from the final eight diamond drill holes completed as part of the company’s highly successful phase 2 drill program on its wholly owned Diablillos property in Salta province, Argentina.
The latest batch of holes targeted the northeast zone, as well as the extension potential of the conceptual Oculto open pit. Key takeaways include diamond drill hole 22-041 that intersected 38.5 metres at 183 g/t AgEq (silver equivalent) (2.6 g/t gold equivalent – comprising 119 g/t silver and 0.91 g/t gold) in oxides, starting at a down-hole depth of only 74 metres. The hole included a 12.5-metre interval grading 350 g/t AgEq (5 g/t AuEq).
Well-mineralized oxide intercepts were encountered in all of the final eight holes from the phase 2 program. All results will be incorporated into an updated mineral resource estimate to be released next month.
John Miniotis, president and CEO, commented: “We are very pleased with the excellent results received from our 20,000-metre phase 2 drill program. The drill program successfully demonstrated the robust exploration upside potential at Diablillos, where we have not yet reached the limit of the strike and depth continuity of several mineralized zones. We’re looking forward to announcing our updated mineral resource estimate in October, and continuing to add value from our exciting phase 3 exploration program, which is currently drilling in the southwest zone, where hole DDH 22-019 recently intersected 87 metres of 346 g/t silver near surface.”
Dave O’Connor, chief geologist, commented: “These latest drill results add to our knowledge of the structures controlling mineralization in the northeast zone beyond the conceptual Oculto open pit, demonstrating the excellent continuity of numerous mineralized breccia zones in this area. With all the drill results from our phase 2 drill program now in hand, the company’s near-term exploration focus is on the newly discovered southwest zone, which displays significant potential for future growth of mineral resources and a significantly expanded open pit.”
The latest drill intercepts were focused primarily northeast of the open pit, where several mineralized breccia structures extend well beyond the conceptual Oculto open pit boundary. These results demonstrate continuity of mineralization in this area and continue to confirm the strong potential to expand the current mineral resource base outside of the current conceptual open pit shell.
DDH 22-032 intersected several well-mineralized zones throughout the hole, including 44 metres at 35 g/t silver and 1.38 g/t gold in oxides from a down-hole depth of 165.5 metres. The same hole also encountered an interval of 46 metres at 18.5 g/t silver and 1.73 g/t gold deeper down in the oxide/sulphide transition zone. These intervals were located outside of the current conceptual open pit margins, demonstrating the potential for an expansion of the open pit toward the northeast.
DDH 22-041 was an infill hole drilled within the conceptual open pit boundary to test the northeast extension of the west breccia zone. The hole successfully encountered a near-surface intercept of 38.5 metres at 119 g/t silver and 0.91 g/t gold in oxides from a down-hole depth of 74 metres.
In the northeast zone, DDH 22-031 is located approximately 350 metres beyond the current open pit boundary and successfully intercepted a high-grade gold intercept of 3.25 g/t gold and 33 g/t silver over 20 metres. These results, combined with prior drilling in the northeast zone, demonstrate the large size of the system, which extends for at least 500 metres beyond the conceptual open pit margin.
Abrasilver is a well-financed, silver-gold-focused, advanced-stage exploration company that is rapidly advancing its 100%-owned Diablillos silver-gold project in mining-friendly Salta province, Argentina, which has a current measured and indicated mineral resource of over 90 million ounces of silver and one million ounces of gold.