Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTC] reported assay results from three new diamond drill holes from the phase 2 drill program located on the 100%-owned Diablillos property in Salta province, Argentina.
All three holes were located in the Oculto Northeast zone. Key takeaways include DDH 22-021 that intersected a near-surface, high-grade silver interval of 17 metres at 365 g/t AgEq (silver equivalent)(5.2 g/t AuEq – comprised of 355 g/t silver and 0.14 g/t gold) in oxides starting at a down-hole depth of only 53 metres. This included a bonanza-grade 5-metre interval of 1,037 g/t AgEq (14.8 g/t AuEq – comprised of 1,022 g/t silver 0.21 g/t gold).
DDH 22-022 intersected multiple zones of high-grade gold mineralization, including a broad intercept of 34 metres at 156 g/t AgEq (2.2 g/t AuEq – comprised of 18 g/t silver and 1.98 g/t gold).
DDH 22-024 intersected near-surface, high-grade silver mineralization, including a broad intercept of 43.5 metres grading 196 g/t AgEq (2.8 g/t AuEq – comprised of 188 g/t silver and 0.11 g/t gold) in oxides starting at a down-hole depth of only 68.5 metres. The hole included a bonanza-grade interval of 4 metres at 1,423 g/t AgEq (20.3 g/t AuEq – comprised of 1,410 g/t silver and 0.18 g/t gold).
John Miniotis, president and CEO, commented: “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 mineralization 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, 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.
“Furthermore, these latest intercepts are located over 1km along strike from the newly discovered Southwest zone, announced on August 3, highlighting that we are successfully expanding high-grade mineralisation in both directions beyond the current Oculto Mineral Resource and along multiple breccia zones.”
Hole DDH 22-021 intersected numerous zones of high-grade oxide mineralization, commencing with a near-surface, high-grade silver zone consisting of 17 metres grading 355 g/t silver and 0.14 g/t gold starting from a down hole depth of only 53 metres.
Hole DDH 22-022 was drilled outside of the proposed open pit shell and successfully intersected multiple zones of high-grade gold mineralization.
Hole DDH 22-024 intersected multiple zones of high-grade silver and gold mineralization, including 43.5 metres grading 188 g/t silver and 0.11 g/t gold, starting from a down hole depth of only 68.5 metres.
Abrasilver is advancing its Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has a current Measured and Indicated Mineral Resource of over 90 million ounces of silver and 1.0 million ounces of gold. The updated PEA study completed in November 2021 demonstrates that Diablillos has the potential to be a highly economic project.