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AbraSilver Intersects Additional High-Grade Silver and Gold Mineralization: 109m at 292 g/t AgEq, Including 6m at 1,180 g/t AgEq

Additional 250-Metre Step-Out Hole in Northeast zone Intersects:  21m at 6.0 g/t gold-equivalent in oxides

Toronto – TheNewswire – September 16,…

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Additional 250-Metre Step-Out Hole in Northeast zone Intersects:  21m at 6.0 g/t gold-equivalent in oxides

Toronto – TheNewswire – September 16, 2021: AbraSilver Resource Corp. (TSXV:ABRA) (OTC:ABBRF) (“AbraSilver” or the “Company”)  is pleased to report additional high-grade drill results from the latest diamond drill holes of the Company’s ongoing Phase II drill program, on its wholly-owned Diablillos property in Salta Province, Argentina.

Hole DDH 21-038 was drilled in the Tesoro zone as part of a program to continue to upgrade Indicated Resources to the Measured category, while hole DDH 21-039 was drilled in the Northeast zone approximately 250 metres beyond the open pit resource shell.  Assay results from the two key highlight holes are summarized in Table 1 below, with results from all additional holes included in Table 2.

Table 1 – Drill Result Highlights of Holes DDH 21-038 & 21-039

(Intercepts greater than 2,000 gram-metre AgEq shown in bold text):

Drill Hole

 

From (m)

To (m)

Type

Interval (m)

Ag

 g/t

Au g/t

Cu

%

AgEq1 g/t

AuEq1 g/t

DDH-21-038

 

112

221.3

Oxides

109.3

176.8

1.53

291.6

3.89

DDH-21-038

Including

136

142

Oxides

6.0

1,164.3

0.21

1,180.1

15.73

DDH-21-038

Including

155

165

Oxides

10.0

179.0

0.99

253.3

3.38

DDH-21-038

Including

182.8

208.5

Oxides

25.7

125.0

5.20

515.0

6.87

DDH-21-038

Including

214

217

Oxides

3.0

226.6

1.16

313.6

4.18

DDH-21-039

 

139

141

Oxides

2.0

84.3

1.06

193.3

2.58

DDH-21-039

 

159

160

Oxides

1.0

181.7

0.16

193.7

2.58

DDH-21-039

 

168

169.4

Oxides

1.4

12.6

1.30

110.1

1.47

DDH-21-039

 

170.5

174.5

Oxides

4.0

67.3

3.82

353.8

4.72

DDH-21-039

 

194

215

Oxides

21.0

50.6

5.30

448.1

5.97

DDH-21-039

 

234.5

235.5

Oxides

1.0

78.3

1.79

212.6

2.83

DDH-21-039

 

243

247

Sulphides

4.0

45.3

2.05

0.83

284.4

3.79

DDH-21-039

 

251

252

Sulphides

1.0

10.2

1.07

90.5

1.21

DDH-21-039

 

273

277

Sulphides

4.0

7.1

0.75

0.09

72.6

0.97

DDH-21-039

 

285.5

287

Sulphides

1.5

36.8

3.26

0.75

358.4

4.78

Note:  All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths. True widths are estimated to be approximately 80% of the interval widths.

1 AgEq & AuEq calculations for reported drill results are based on USD $20.00/oz Ag, $1,500/oz Au and $3.00/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices. Refer to Technical Notes below for additional information.

John Miniotis, President and CEO, commented, “Today’s announcement demonstrates further continuity of high-grade gold mineralization for hundreds of metres beyond the open pit resource in the Northeast Zone. Yesterday we announced that M&I Resources at Oculto increased by 37% for gold and 11% for silver. We remain highly encouraged by the results from our ongoing Phase II drill program which clearly demonstrates significant potential for additional mineral growth.”  

 

Figure 1 – Drill Hole Location Map


Click Image To View Full Size

 

Discussion of Drill Hole Results

Hole DDH 21-038 was drilled in the high-grade Tesoro zone in order to upgrade more high-grade Indicated resources to the Measured category. This hole intersected 109.3 metres of 176.8 g/t silver and 1.53 g/t gold from 112 to 221.3 metres, including 25.7 metres of 125.0 g/t silver and 5.20 g/t gold within the oxide zone.   In the silver enriched layer, a significant high-grade interval of 6 metres of 1,164 g/t silver and 0.21 g/t gold was encountered.   These intercepts support the continuity of the shallowly dipping secondary enriched silver layer and the underlying gold dominant layer that extend within the mineralised system.

 

DDH 21-039 was drilled in the Northeast zone approximately 250 metres beyond the open pit resource shell. The hole has numerous intercepts with significant gold and silver mineralisation over substantial widths, including 21.0 metres of 50.6 g/t silver and 5.30 g/t gold from 194 to 215 metres. This is a part of a robust mineralised system associated with silicification and fracturing in the oxide zone extending northeast of the Oculto resources.

 

Systematic drilling is ongoing as part of the Phase II drill program aimed at further expanding the recently announced updated Mineral Resource Estimate (see news release dated September 15, 2021).

        

Figure 2 – Cross Section (Looking East) with Highlighted intercepts in Hole DDH 21-038


Click Image To View Full Size

 

Figure 3 – Cross Section  (Looking East) with Highlighted intercepts in Hole DDH 21-039


Click Image To View Full Size

 

Table 2 – Drill Result Highlights of Holes DDH 21-029 – DDH 21-039

 

Drill Hole

Zone 

From (m)

To (m)

Type

Interval (m)

Ag

 g/t

Au g/t

Cu

%

DDH-21-029

Pedernales

83

87

Oxides

4.0

2.46

DDH-21-029

 

135

148

Oxides

13.0

0.76

0.51

DDH-21-030

Northeast

74

85

Oxides

11.0

30.6

DDH-21-030

 

92

135.5

Oxides

43.5

36.5

0.70

DDH-21-030

 

174

181

Oxides

7.0

42.5

0.17

DDH-21-031

Corderos

15

17

Oxides

2.0

5.2

1.43

DDH-21-031

 

28

31

Oxides

3.0

28.0

2.34

DDH-21-032

Pedernales

68.5

76

Oxides

7.5

1.56

DDH-21-033

Laderas

33.5

44

Oxides

10.5

30.1

0.42

DDH-21-033

 

227

231

Sulphides

4.0

286.1

0.53

4.00

DDH-21-034

Corderos

31

38

Oxides

7.0

13.5

3.51

DDH-21-035

Northeast

136

137

Sulphides

1.0

45.2

1.68

1.45

   

156

157

Oxides

1.0

5.6

1.08

   

169.5

171.5

Sulphides

2.0

67.6

2.90

0.95

   

174

184

Oxides

10.0

11.7

1.92

   

194.5

197.5

Oxides

3.0

7.0

1.00

0.09

   

273

282

Oxides

9.0

18.5

1.04

DDH-21-038

Tesoro

112

221.3

Oxides

109.3

176.8

1.53

DDH-21-038

 

136

142

Oxides

6.0

1,164.3

0.21

DDH-21-038

 

155

165

Oxides

10.0

179.0

0.99

DDH-21-038

 

182.8

208.5

Oxides

25.7

125.0

5.20

DDH-21-038

 

214

217

Oxides

3.0

226.6

1.16

DDH-21-039

Northeast

139

141

Oxides

2.0

84.3

1.06

DDH-21-039

 

159

160

Oxides

1.0

181.7

0.16

DDH-21-039

 

168

169.4

Oxides

1.4

12.6

1.30

DDH-21-039

 

170.5

174.5

Oxides

4.0

67.3

3.82

DDH-21-039

 

194

215

Oxides

21.0

50.6

5.30

DDH-21-039

 

234.5

235.5

Oxides

1.0

78.3

1.79

DDH-21-039

 

243

247

Sulphides

4.0

45.3

2.05

0.83

DDH-21-039

 

251

252

Sulphides

1.0

10.2

1.07

DDH-21-039

 

273

277

Sulphides

4.0

7.1

0.75

0.09

DDH-21-039

 

285.5

287

Sulphides

1.5

36.8

3.26

0.75

  

Collar Data

Hole Number

UTM Coordinates

Elevation

Azimuth

Dip

Depth

DDH 21-029

E721265

N7203694

4,242

0

-60

161

DDH 21-030

E720274

N7199678

4,248

180

-60

275.5

DDH 21-031

E721307

N7204118

4,180

0

-60

150

DDH 21-032

E721316

N7203694

4,232

0

-60

194

DDH 21-033

E720493

N7200250

4,244

0

-60

235

DDH 21-034

E721269

N7204130

4,173

33

-60

74

DDH 21-035

E720760

N7200161

4,265

180

-60

286

DDH 21-038

E720206

N7199294

4,263

0

-60

320

DDH 21-039

E720402

N7199880

4,252

180

-60

314

 

About Diablillos

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. by the Company in 2016.  There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with approximately 90,000 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)

 

Table 3 – 2021 Mineral Resource Estimate for the Oculto Deposit, Diablillos Project

Category

Tonnage

(000 t)

Ag

(g/t)

Au

(g/t)

Contained Ag

(000 oz Ag)

Contained Au

(000 oz Au)

Measured

8,235

124

0.98

32,701

259

Indicated

32,958

54

0.70

57,464

744

Measured & Indicated

41,193

68

0.76

90,165

1,002

Inferred

2,884

34

0.7

3,181

66

 

Effective September 8, 2021. The resource estimate is N.I. 43-101 compliant. Full details of the Mineral Resources are available in a Company news release dated September 15, 2021.  The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”) by Mining Plus, will be available on SEDAR (www.sedar.com) under the Company’s issuer profile within 45 days of the news release dated September 15, 2021.

QA/QC and Core Sampling Protocols

AbraSilver applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company’s geologists in accordance with industry practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to measure sample representivity. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.

 

All samples are received by the SGS offices in Salta who then dispatch the samples to the SGS preparation facility in San Juan. From there, the prepared samples are sent to the SGS laboratory in Lima, Peru where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are reanalyzed using four acid digestion with an ore grade AAS finish.

 

Qualified Persons

David O’Connor P.Geo., Chief Geologist for AbraSilver, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this news release.

 

Technical Notes

All results in this news release are rounded. Assays are uncut and undiluted. Intervals are drilled widths, not true widths. AgEq calculations for reported drill results are based on USD $20.00/oz Ag, $1,500/oz Au and $3.00/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.  No metallurgical testwork has yet been completed on the recovery of copper.

 

About AbraSilver

AbraSilver is a well-funded silver-gold focused advanced-stage exploration company. The Company is rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has a Measured and Indicated resource base of over 160Moz on a silver-equivalent basis or 2.3Moz on a gold-equivalent basis.  The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott and SSR Mining.  In addition, AbraSilver owns a portfolio of earlier-stage copper-gold projects, including the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration.  AbraSilver is listed on the TSX-V under the symbol “ABRA” and in the U.S. under the symbol “ABBRF”.

 

For further information please visit the AbraSilver Resource website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on Twitter at www.twitter.com/abrasilver

  

Alternatively please contact:

 

John Miniotis, President and CEO

[email protected]

Tel: +1 416-306-8334

   

Cautionary Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Copyright (c) 2021 TheNewswire – All rights reserved.

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