Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] reported the first set of assay results from the company’s continuing phase 3 drill program on its wholly-owned Diablillos property in Salta province, Argentina.
The first two holes returned two of the top four best silver-equivalent intercepts ever reported at Diablillos on a grade-thickness basis, including two separate bonanza-grade zones that intersected greater than 2,000 g/t AgEq over 23 metres each.
Key takeaways include Hole DDH 22-045 that contains the new all-time highest-grade silver intercept recorded on the Project. In total, the hole returned 127 metres at 646 g/t AgEq (9.2 g/t AuEq – comprised of 506 g/t silver and 1.99 g/t gold) in oxides starting at a down-hole depth of only 122 metres and included bonanza-grade silver mineralization grading 2,001 g/t AgEq (28.6 g/t AuEq) in oxides over an impressive 23-metre interval starting at a down-hole depth of 152 metres.
Hole DDH 22-043 intersected two separate high-grade zones. The first high-grade zone returned 154 metres at 144 g/t AgEq (2.1 g/t AuEq – comprised of 72 g/t silver and 1.03 g/t gold) in oxides starting at a down-hole depth of only 36 metres.
Deeper down, a bonanza-grade zone was intersected in sulphides consisting of 2,116 g/t AgEq (30.2 g/t AuEq) over 23 metres.
Hole DDH 22-047 also encountered a high-grade intercept of 43 metres at 250 g/t AgEq (3.6 g/t AuEq – comprised of 135 g/t silver and 1.65 g/t gold) in oxides starting at a down-hole depth of only 101 metres. The hole was located towards the Northeast limit of the conceptual open pit.
John Miniotis, president and CEO, commented: “The spectacularly high-grade intercept of 646 g/t AgEq over 127 metres in hole 45, represents the best-ever drill result encountered on the Diablillos project. Moreover, today’s announcement includes a 23-metre interval of 2,116 g/t AgEq in hole DDH-22-043, which ranks as the fourth-best drill result in the project’s history, on a grade-thickness basis. The company’s ongoing exploration success and track record of outstanding drill results, are presently unparalleled across the silver industry, demonstrating the world-class upside potential of the Diablillos project.”
Dave O’Connor, Chief Geologist, commented, “We are delighted with the truly spectacular results received from the initial holes of our phase 3 drill program which continue to demonstrate the extensive exploration potential at Diablillos, as well as the extremely high-grade nature of the Tesoro Zone. We are looking forward to additional high-grade silver and gold intercepts along the known two-kilometer length of this mineralized system, which continues to demonstrate remarkable upside potential.”
The latest drill intercepts were focused on testing the extension potential of the high-grade Tesoro zone, as well as in-fill drilling mineralization towards the northeast limit of the conceptual open pit.
Hole DDH 22-045 was drilled to test the southern extension of the Tesoro Zone. The new all-time high-grade record intercept consisted of 127 metres at 506 g/t silver and 1.99 g/t gold in oxides from 122 to 249 metres. The interval encountered bonanza-grade silver mineralization grading 1,961 g/t silver over 23 metres, as well as bonanza-grade gold mineralization grading 13.45 g/t gold over 6 metres in oxides.
Hole DDH 22-043 was drilled within the Tesoro Zone and intersected several well-mineralized zones throughout the hole. Starting from a down-hole depth of only 36 metres, the hole initially encountered 154 metres of 72 g/t silver and 1.03 g/t gold in oxides. The same hole then encountered a subsequent interval of 23 metres at 1,939 g/t silver, 0.28 g/t gold and 1.9% copper, deeper down in sulphide mineralization.
Both holes, DDH 22-043 and DDH 22-045 are located near the high-grade Tesoro Zone. These new results are expected to continue to substantially increase both the tonnage and grades of the Mineral Resources classified in the Measured category and are expected to have a marked positive effect on the future economics of the project. Additional drill holes are planned to test the continuity of the high-grade Tesoro zone as part of the ongoing phase 3 program.
Hole DDH 22-047 was an in-fill hole drilled within the conceptual open pit boundary to test the northeast extension of the Main Breccia zone. The hole successfully encountered a near-surface intercept of 43 metres at 135 g/t silver and 1.65 g/t gold in oxides starting from a downhole depth of 101 metres.
The Diablillos silver-gold project 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.