Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] released its latest diamond drilling assay results from the continuing phase 3 exploration program on the company’s wholly-owned Diablillos property in Salta province, Argentina.
Drilling at the JAC zone discovery continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths. Drilling to date at the JAC zone has defined oxide mineralization extending approximately 800 metres along strike, up to 150 metres wide and extending to a depth of 200 mettres. The zone continues to remain open along strike towards the southwest and in other directions.
Key takeaways from the latest JAC zone drill results include diamond drill hole 23-011 was drilled to test the northeastern extension of mineralization at the JAC zone and intersected 36.0 metres grading 96.9 g/t silver and 0.28 g/t gold in oxides from 128.5 metres downhole.
DDH 23-012 was drilled on the northern margin of the area drilled and intersected 14.0 metres at 72.1 g/t silver from a downhole depth of 97.0 metres.
DDH 23-013, located in the southwestern part of the drill target area, intersected two separate zones of silver mineralization in oxides, including 30.5 metres grading 133.3 g/t silver from 81.5 metres downhole.
DDH 23-014, located in the northeastern part of the drill target area, encountered high-grade silver mineralization in oxides, intersecting 46.5 metres grading 185 g/t silver and 0.50 g/t gold from a depth of 127.0 metres, including 8.0 metres at 439.3 g/t silver and 1.28 g/t gold.
John Miniotis, president and CEO, commented: “Our drill program continues to consistently encounter high-grade silver intervals at shallow depths at the new JAC zone. These latest drill results continue to demonstrate that the high-grade silver mineralization is continuous along strike and remains open to further expansion. We see excellent potential to continue to intersect high-grade mineralization at JAC and look forward to incorporating these results into an updated Mineral Resource estimate later this year.”
Dave O’Connor, chief geologist, commented: “Ongoing drilling at JAC continues to demonstrate extensive high-grade, silver mineralization with associated gold, near-surface. Importantly, there are several sub-parallel mineralized zones at JAC, and our drill program has been designed to ensure that all well-mineralized zones are intersected, and will be included in the upcoming Mineral Resource estimate. The footprint of the JAC zone continues to expand, and we are very optimistic about the growth potential of this new zone as our understanding of the geology and controls of mineralization continue to advance.”
Drilling activity at Diablillos 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 (MRE) on the main Oculto deposit (M&I MRE containing 1.3 Moz gold and 109 Moz silver).
To date, the company has completed approximately 18,000 metres of drilling in 79 holes, as part of the planned 22,000-metre phase 3 program that is primarily targeting the JAC zone. The phase 3 exploration drill program will form the basis for an updated MRE and will be included in a Pre-Feasibility Study on the Diablillos project, which the company expects to complete in the second half of 2023. Planned drilling will also test the margins of the JAC zone to provide data for geotechnical studies for a conceptual open pit at the JAC zone.
Additional exploration targets have been identified to the southwest of the Oculto MRE based on the recently completed detailed ground magnetic survey. Some of these targets, including the Fantasma and Alpaca targets, are expected to be drilled following the systematic drilling of the JAC zone.
At the La Coipita project, drilling is progressing with the hole currently at a down-hole depth of approximately 1,200 metres. The deep hole is expected to be completed within the next two weeks and is targeting the anticipated higher-grade zone of the porphyry system intercepted last year in hole DDHC 22-002.
Abrasilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. The current Measured and Indicated Mineral Resource estimate for Diablillos consists of 51.3 Mt grading 66 g/t silver and 0.79g/t Au, containing approximately 109Moz silver and 1.3Moz gold, with significant further upside potential based on recent exploration drilling. The company is led by an experienced management team and has long-term supportive shareholders including Eric Sprott. In addition, Abrasilver owns a portfolio of earlier-stage copper-gold projects including the La Coipita copper-gold project in San Juan province, Argentina.