AbraSilver releases updated mineral resource estimate
AbraSilver Resources Corp. [ABRA-TSX, ABBRF-OTC] on Tuesday 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.
On Tuesday, the shares edged up 0.187% or $0.01 to $5.35 and trade in a 52-week range of $6.15 and $.2.04
“We are very excited to report that M&I mineral resource at Diablillos have now grown to nearly 200 million ounces of silver and over 1.7 million ounces of gold,” said AbraSilver President and CEO John Miniotis. “The substantial increase highlights the exceptional mineral endowment of our project and our team’s continued success in unlocking value through exploration.”
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.
AbraSilver Chief Geologist David O’Connor said the JAC zone has been a major driver of the mineral resource growth and is expected to be a key focus of early mining stages, with its high-grade and near-surface location. “With significant exploration potential still ahead of us from our ongoing Phase V drill program, we anticipate continued mineral resource expansion and additional discoveries across multiple targets,” he said.