Abrasilver Resource Corp. [ABRA-TSXV; ABBRF-OTCQX] reported assay results from four additional diamond drill holes from the continuing phase III program on the 100%-owned Diablillos property in Salta province, Argentina.
All four holes were drilled at the new JAC Zone. Key takeaways from the latest drill results include DDH 22-083 that intersected a broad zone of high-grade silver mineralization in mixed oxides and sulphides, with 25.0 metres at 774 g/t silver, 0.28 g/t gold and 1.36% copper starting from a down-hole depth of 159 metres. The interval contained high-grade copper with associated silver mineralization in sulphide bearing feeder structures near the base of the hole.
DDH 22-086 encountered high-grade silver and copper in sulphides containing 9.0 metres at 342 g/t silver and 1.55% copper, directly beneath an oxide zone of 5.0 metres grading 282 g/t silver.
DDH 23-002 intersected high-grade silver mineralization in an oxide/sulphide transition zone, with 17.0 metres at 289 g/t silver, including bonanza grades of 2,029 g/t silver and 2.09 g/t gold over 1.0 metre .
DDH 23-083 encountered multiple zones of silver mineralization in oxides, and 5.8 metres at 502 g/t silver and 0.26% copper in sulphides starting at 156 metres down-hole.
John Miniotis, President and CEO, commented, “We continue to encounter very impressive drill results, in practically every drill hole, in the new JAC zone. We are also very pleased that the company remains well-funded to complete the recently expanded drill campaign and deliver on its next set of upcoming milestones including: additional drill results from JAC and other targets, drill results from the La Coipita project, an updated Mineral Resource Estimate and a Pre-Feasibility Study at Diablillos before the end of the year. With multiple significant catalysts on the horizon and ongoing exploration drilling, we expect investors will ultimately recognize Abrasilver’s significant value proposition.”
Dave O’Connor, Chief Geologist, commented, “Drilling at JAC continues to encounter high-grade silver mineralization in oxides at shallow depths together with copper sulphide mineralization with associated high-grade silver in feeders at the base of the oxide zone. As precious metal mineralization intruded up steeply-dipping feeder structures from an underlying porphyry intrusion they migrated laterally along permeability horizons into andesite volcanics which were subsequently oxidized down to the current oxide-sulphide interface. Identifying the pattern of feeder structures is a very useful guide for exploration of the oxide-hosted mineralization.”
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 12,900 metres of drilling, in 65 holes, as part of the 22,000-metre Phase III program. Drilling results to date, combined with interpretation of magnetics, suggest that the new JAC zone remains open in multiple directions.
At the La Coipita project, drilling is progressing with the hole currently at a down-hole depth of approximately 130 metres. The deep hole is targeting the anticipated higher-grade zone of the porphyry system intercepted in hole DDHC 22-002.
The 80 km2 Diablillos property is located in the Argentine Puna region – the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile – and was acquired from SSR Mining Inc. in 2016. There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with over 120,000 metres drilled to date. Oculto is a high-sulphidation epithermal silver-gold deposit derived from remnant hot springs activity following Tertiarty-age local magmatic and volcanic activity. Comparatively nearby examples of high sulphidation epithermal deposits include: Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo del Sol (Argentina). The current Measured and Indicated Mineral Resource estimate for Diablillos consists of 51.3 Mt grading 66 g/t silver and 0.79 g/t gold, containing approximately 109Moz silver and 1.3Moz gold, with significant further upside potential based on recent exploration drilling. In addition, Abrasilver owns a portfolio of earlier-stage copper-gold projects including the La Coipita copper-gold project in the San Juan province, Argentina.