AbraSilver expands known gold zone in Argentina
AbraSilver Resources Corp. [ABRA-TSX, ABBRF-OTC] has announced assay results from three new drill holes at its Diablillos project in Argentina. The latest results are from a 20,000-metre Phase five exploration program, which is progressing with three active rigs.
The company said the latest holes continue to expand the gold-bearing zone at Oculto East, intersecting consistent mineralization well beyond the current mineral resource outline. These results reinforce the potential for continued growth and highlight Oculto East as a key focus area in the current exploration program, the company said.
Highlights include hole DDH-25-060A, intersecting a continuous 60-metre interval grading 1.05 g/t gold from 230 metres down hole, including 17.0 metres at 2.83 g/t silver and 4.0 metres at 6.68 g/t gold, at Oculto East. The company also noted that it will soon commence drilling of a minimum of two deep holes at the Cerro Blanco porphyry targets to test a promising copper-gold system. Together, these initiatives are designed to expand known mineralization at Oculto East while testing new targets that could further enhance the overall scale of the project.
On Monday, the shares edged up 1.5% or $0.09 to$6.21. The shares currently trade in a 52-week range of $6.49 and $2.15.
AbraSilver is a silver gold and copper exploration company with projects in Argentina and Chile. Its shares were recently listed for trading on the TSX. AbraSilver’s primary focus is on exploring and advancing the Diablillos project, a high-sulphidation, epithermal silver-gold deposit located in Salta Province, Argentina
The 80 square kilometre Diablillos property is located in the Argentina Puna region – the southern extension of the Altiplano of southern Peru, Bolivia and northern Chile. The project was acquired from SSR Mining Inc. [SSRM-TSX, NASDAQ, SSR-ASX] in 2016.
New drill results have been announced after AbraSilver recently announced an updated mineral resource estimate for its Diablillos project in Argentina.
In its latest update, the company said the project contains a measured and indicated (M&I) resource of 104 million tonnes of ore, containing approximately 199 million ounces of silver and 1.72 million ounces of gold, for a total of 350 million ounces of silver equivalent (AgEq).
This updated resource reflects a 25% increase in contained silver and a 14% increase in gold (27% AgEq) in the primary tank leach portion compared to the prior 2023 estimate. The growth is primarily attributed to extensions at the Oculto and JAC deposits. Additionally, a maiden heap leach (MRE) of 31 million tonnes was introduced, identifying previously low-grade ore as being potentially recoverable.
AbraSilver aims to complete a definitive feasibility study by the first quarter of 2026, with ongoing exploration indicated further resource expansion potential.
The company aims to complete the study following the approval of the Environmental Impact Assessment (expected in the fourth quarter of 2025), and qualification of the Diablillos project under Argentina’s RIGI law. The Diablillos project is expected to advance to a construction decision in the second half of 2026.