AbraSilver Resource posts encouraging drill results from Diablillos Project, Argentina

AbraSilver Resource Corp. [TSXV: ABRA; OTCQX: ABBRF] reported assay results from four initial reconnaissance drill holes at the porphyry complex, located approximately 3.5 km northeast of the Oculto deposit on its wholly owned Diablillos project in Argentina.

Results indicate that drilling has tested the upper part of a major porphyry system that is estimated to span up to approximately 3 km in length and 2 km in width, hosting zones of gold, silver and copper, including some high-grade intervals. The porphyry mineralization appears to have a high-grade gold epithermal overprint.

Highlights – Cerro Viejo: Initial reconnaissance drilling at the Cerro Viejo target in the Diablillos porphyry complex, included three holes confirming widespread gold mineralization.  Notably, hole DDH 24-056 showcases a high-sulphidation overprint over a porphyry system.

Significant drill intercepts included Hole DDH 24-056 that intersected 36.0 metres at 1.91 g/t Au, starting at a downhole depth of only 87 metres, with a higher-grade interval of 5.0 metres at 7.22 g/t Au. This intercept highlights a shallow, high-grade gold zone easily accessible for future exploration. Surface chip/channel samples further revealed enriched gold values.

Hole DDH 24-059, located 450 metres north of hole 24-056, intersected broad zones of lower-grade gold and copper mineralization with 81.0 metres grading 0.25 g/t Au and 0.01% Cu from a downhole depth of 130 m . Together with hole DDH 24-071 and the epithermal overprint, this appears to demonstrate the upper part of a robust porphyry system.

Hole DDH 24-071, located 500 metres south of hole 24-056, intersected multiple zones of gold, copper and silver mineralization, including a broad intercept of 106.0 m grading 0.15 g/t Au starting at a down-hole depth of 104 m.   Porphyry style gold mineralization is shown by drilling to extend over a distance of more than 1 km north-south.

Cerro Blanco: Due to rugged terrain, drilling in Cerro Blanco was limited to one hole, DDH 24-081, which was not ideally positioned and intercepted only short intervals of gold and copper mineralization. However, historical and recent surface sampling revealed high-grade zones with copper-rich intervals, offering promising targets for future exploration.

John Miniotis, President and CEO, commented, “Our initial drill results unveil the significant potential of the Cerro Viejo area to host a new high-sulphidation epithermal system.   We are particularly encouraged by the shallow, high-grade gold mineralization identified in hole DDH 24-056. Ongoing exploration efforts are currently being planned to help further define this promising new target.”

Dave O’Connor, Chief Geologist, commented, “The widespread gold mineralization, along with associated copper identified in this initial drilling program indicates an overprinting of epithermal mineralization on the upper portion of a porphyry system.  All drill holes encountered porphyry-style alterations with well-developed stockwork veining and abundant sulphides. The high-sulphidation overprint suggests potential for a shallow, high-grade epithermal gold resource, as demonstrated by the 36 m interval grading 1.91 g/t Au in hole DDH 24-056. Additionally, the initial reconnaissance drill hole at Cerro Blanco highlights a likely upfaulted portion of the porphyry system, where mineralization is expected to be closer to the surface.  These findings are further supported by nearby surface chip/channel sampling, and, as a result, additional exploration is certainly warranted in this area.”

Cerro Viejo target:  The high-grade, shallow gold result in hole DDH 24-056 (36m at 1.91 g/t Au) and the gold results in surface chip/channel sampling of associated siliceous outcrops (including 16.36 g/t Au, 12.14 g/t Au, 2.3 g/t Au, 3.2 g/t Au etc.) outline a zone measuring almost 1 km in length with potential for gold resources at shallow depths. Core from hole DDH 24-056 has been submitted for metallurgical testing and a program of shallow holes will be planned to explore this new zone.

Cerro Blanco target: One additional drill hole is being planned south of Cerro Blanco to test at depth, and into the geophysical chargeability high. It is interpreted that Cerro Blanco is an upfaulted part of the porphyry system and the higher-grade porphyry mineralization potassic zone is believed to be shallower in this area.

The ongoing Phase IV drill program is focused on expanding the existing Diablillos Mineral Resource estimate at a number of target areas with known mineralization as well as exploring newly identified prospective exploration targets within the broader Diablillos land package. The company has two drill rigs operating and, to date, has completed approximately 19,000 m of drilling in 96 holes.  Several assay results are awaited.

The Definitive Feasibility Study (DFS) will be managed by a team of experienced engineers and consultants, supported by the company’s technical team. The company will undergo a competitive tendering process to select qualified Engineering, Procurement, Construction and Management firms, with the award anticipated by no later than April 2025. Regular progress updates will be provided by the Company as the DFS advances, with results expected to further showcase the company’s potential to become a key low-cost silver-gold producer.

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 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 m to 1.5 km distance surrounding the Oculto/JAC epicentre.

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in Salta and Catamarca provinces of 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 Resources on the La Coipita project, San Juan province, Argentina.