AbraSilver posts more drill results and large porphyry target at Diablillos Project, Argentina

AbraSilver Resource Corp. [TSXV: ABRA; OTCQX: ABBRF] reported assay results from the company’s ongoing, fully funded 20,000-metre Phase IV drill program, on its wholly-owned Diablillos project in Argentina.

Key takeaways from the latest drill results include: Holes DDH 24-017, DDH 24-021 and DDH 24-024 were drilled in the Oculto northeast area and designed to expand the existing known shallow mineralization.

DDH 24-017 encountered numerous zones of mineralization including a silver zone with 28.5 m grading 87 g/t Ag, starting at a downhole depth of 108 m, within which was 7.5 m grading 190 g/t Ag.

DDH 24-024 intersected multiple zones of gold and silver mineralization including 23.0 m grading 50 g/t Ag and 0.18 g/t Au .

Holes DDH 24-020 and DDH 24-023 were step-out holes in the JAC southwest area that were drilled to extend the existing Mineral Resources beyond the current conceptual open pit boundary.

DDH 24-020 intersected a broad zone of mineralization, with 53 m at 58 g/t Ag , starting at a downhole depth of only 68 metres, and included an interval of 5.1 m 129 g/t Ag

DDH 24-023 encountered 24 m grading 76 g/t Ag , starting at a downhole depth of 99 metres, and separately encountered another 11 m grading 52 g/t Ag.

The company also announced results of its recently completed TITAN geophysical survey on the Diablillos Porphyry Complex located approximately 3.5 km northeast of the Oculto deposit.  The TITAN survey was completed by Quantec International Project Services Ltd., which conducted a five-line survey covering the Cerro Blanco and Cerro Viejo target areas and confirmed a large chargeability anomaly beneath Cerro Blanco reflecting a zone of intense silicification that is interpreted as being related to a large porphyry intrusion.

John Miniotis, President and CEO, commented, “We are very pleased with the continued success of our ongoing step-out drill campaign and the promising results from the TITAN geophysical survey.  Importantly, the survey indicates strong geophysical anomalies that suggest the potential for a substantial porphyry system, which could unlock an exciting new phase of exploration moving forward.  Our ongoing drilling campaign validates our commitment to unlocking the full potential at Diablillos, and we are very pleased that the Project continues to display significant exploration upside potential on numerous fronts.”

Dave O’Connor, Chief Geologist, commented, “The TITAN survey has identified significant resistivity anomalies extending to depths of over 1 km beneath shallow historical drill holes that intersected low grade copper mineralisation, together with surface sampling which assayed highly anomalous gold and molybdenum in the Cerro Blanco area. The resistivity anomaly is interpreted as reflecting silicification related to a porphyry intrusion which generated the associated high metal contents in sampling.  The survey has helped significantly improve our knowledge of the Porphyry Complex and, within the next two weeks, we will be commencing a deep drilling program aimed to further define these new high-priority targets.”

True widths are estimated to be approximately 80% of the interval widths for oxides. The Diablillos Porphyry Complex has been identified through a combination of historical drilling and geophysical surveys, including the recently completed TITAN geophysical survey, which outlined a large, deep-seated anomaly consistent with a porphyry system.

The TITAN survey has identified specific anomalous areas within this complex which will be tested with one drill rig, which will be dedicated to a deep drilling program at the Porphyry Complex.

The ongoing Phase IV drill program is focused on expanding target areas with known mineralization as well as exploring newly identified prospective exploration targets within the broader Diablillos land package. To date, approximately 9,100 metres of drilling in 47 holes has been completed. Several assay results are awaited.

The Diablillos property is located within the Puna region of Argentina, in the southern part of Salta Province along the border with Catamarca Province, approximately 160 km southwest of the city of Salta and 375 km northwest of the city of Catamarca. The property comprises 15 contiguous and overlapping mineral concessions acquired by AbraSilver in 2016. The project site has good year-round accessibility through a 150 km paved road, followed by a well-maintained gravel road, shared with other adjacent projects.

There are several known mineral zones on the Diablillos property. Approximately 150,000 metres have been drilled to date, which has outlined multiple occurrences of epithermal silver-gold mineralization at Oculto, JAC, Laderas and Fantasma. Additionally, several satellites zones of silver/gold-rich epithermal mineralization have been located within a 500-metre to 1.5 km distance surrounding the Oculto/JAC epicentre.

Comparatively nearby examples of high sulphidation epithermal deposits include: La Coipa (Chile); Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo del Sol (Argentina).

The current Proven and Probable Mineral Reserve estimate for Diablillos, from a recently completed Pre-Feasibility Study, consists of 42.3 Mt grading 91 g/t Ag and 0.81 g/t Au, containing approximately 124 Moz silver and 1.1 Moz gold, with significant further exploration upside potential.

In addition, the company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, located in San Juan province, Argentina.