Abrasilver drills 311 g/t silver, 0.43 g/t gold over 26.5 metres at Diablillos, Argentina

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Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] reported assay results from six additional diamond drill holes from the continuing phase III program on the 100%-owned Diablillos property in Salta province, Argentina.

Drilling activity 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 on the main Oculto deposit (M&I MRE containing 1.3 Moz gold and 109 Moz silver). Key takeaways from the latest drill results include:

DDH 22-077 was drilled to test the continuation of the JAC zone to the north and intersected 32 metres at 122 g/t silver starting at a down-hole depth of only 60 metres.

DDH 22-078 intersected several zones of oxide silver mineralization, including 41 metres at 103 g/t silver starting from a shallow down-hole depth of only 58 metres .

DDH 22-079 was drilled to test the extension of the JAC zone northeast towards the Oculto deposit. The hole successfully demonstrated the potential continuity of mineralization between JAC and Oculto, intersecting 35 metres at 199 g/t silver and 0.36 g/t gold, including a high-grade interval of 6.0 metres at 548 g/t silver and 0.88 g/t gold.

DDH 22-080 encountered multiple zones of silver mineralization, including 5.0 metres at 442 g/t silver, within a broader interval of 52 metres grading 125 g/t Asilver starting from only 50 metres down-hole.

DDH 22-081 returned a broad zone of silver mineralization of 37.0 metres at 179 g/t silver. This hole is situated approximately 625 metres beyond the southwest end of the Oculto mineralization included in the current Mineral Resource Estimate.

DDH 22-082 encountered high-grade mineralization in the transition zone (containing a mix of oxides and sulphides) just beneath the oxide zone, with 26.5 metres grading 311 g/t silver and 0.43 g/t gold, including 7.0 metres grading 936 g/t silver and 1.46 g/t gold.

John Miniotis, President and CEO, commented, “Each batch of drill results received from the new JAC zone increases the prospective scale of this unfolding, high-grade deposit. The continuity of high-silver grades and broad widths of mineralization encountered at shallow depths with step out drilling clearly bodes very well for the potential economics of this new discovery. We eagerly await additional assay results, which we believe will lead to a significant mineral resource estimate (MRE) at JAC, adding to the large existing MRE on the Oculto deposit, which is located approximately 500 metres to the northeast.”

Dave O’Connor, Chief Geologist, commented, “Drilling results from the new JAC zone continue to consistently encounter high-grade silver mineralization in oxides at shallow depths. Today’s results further support our understanding that the silver mineralization at the JAC zone has excellent continuity. Importantly, the JAC zone is now delineated over a strike length of 600 metres, a vertical extent of 150 to 200 metres and average width of up to 150 metres, and continues to remain open in multiple directions. The remainder of our Phase 3 program will continue to step-out the JAC zone along strike, laterally and down dip, and will also selectively test other new high-priority exploration targets within the broader Diablillos land package.

True widths are estimated to be approximately 80% of the interval widths.

Drilling is ongoing with two diamond drill rigs focused on understanding the extent and orientation of silver and gold mineralization in the JAC zone. To date, assay results have been reported for 30 drill holes at JAC, which coincides with a NE-SW trending magnetic anomaly, and there are assays pending for an additional 13 drill holes. These drill holes span 700 metres along strike and widths up to 200 metres.

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.

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 based on recent exploration drilling.

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