AbraSilver Commences Phase VI Drill Program at Diablillos and Reports Assay Results Phase V Results To Be Incorporated into Updated Mineral Resource Estimate and DFS
AbraSilver Commences Phase VI Drill Program
at Diablillos and Reports Assay Results
Phase V Results To Be Incorporated into Updated Mineral
Resource Estimate and DFS
Toronto, Ontario--(Newsfile Corp. - January 13, 2026) -
AbraSilver Resource Corp. (TSX: ABRA)
(OTCQX: ABBRF)
("AbraSilver" or the "Company") is pleased to announce the commencement of the
Phase VI diamond drilling program at its wholly-owned Diablillos project in Argentina (the "Project"),
together with additional assay results from the recently completed Phase V drill program.
Phase VI Drill Program Highlights
Fully-funded 15,000-metre Phase VI diamond drilling program
is designed to expand and
upgrade the existing Mineral Resources and evaluate high-priority exploration targets;
Primary focus on extending gold and silver mineralization beyond current conceptual
open pit limits
at Oculto East, Oculto Northeast, Cerro Bayo and JAC;
Targeted drilling also planned to assess sulphide-hosted and porphyry-style
mineralization
at Oculto Deep and Cerro Viejo;
Phase VI results are expected to support continued Mineral Resource growth beyond
those included in the upcoming Definitive Feasibility Study
, which remains on schedule for
release in Q2 2026 and will incorporate all data from the recently completed Phase V program.
John Miniotis, President and CEO, commented, "The successful completion of our Phase V drilling
marks another important milestone for Diablillos. Phase V drill results will be incorporated into an
updated Mineral Resource estimate ("MRE") that will form the basis of the upcoming Definitive
Feasibility Study ("DFS"). With Phase VI now underway, our exploration focus remains on unlocking
additional upside beyond the DFS."
Dave O'Connor, Chief Geologist, commented, "Phase V delivered impressive intervals of gold
mineralization extending beyond the conceptual open pit limits at Oculto East, underscoring the strength,
continuity, and scale of the Diablillos mineralizing system. Phase VI has been carefully designed to build
on this success - expanding known mineralized zones, upgrading Mineral Resources within and beyond
the existing open pit, and testing several high-priority exploration targets across the district."
Phase VI Program Overview:
The Phase VI drill program is expected to comprise approximately
15,000 metres across
approximately 50 diamond drill holes
.
Drilling activities have now commenced with
two drill rigs
active
, and the program expected to be completed before year-end.
Drilling is designed to both
expand and upgrade Mineral Resources
within and beyond existing
conceptual open pit limits, as well as to test
high-priority exploration targets
across the broader
Diablillos district. The highest-priority targets are focused on extending oxide gold and silver
mineralization at
Oculto East, Oculto Northeast and Cerro Bayo
, where recent drilling demonstrated
strong continuity and potential to further expand open pit Mineral Resources and improve strip ratios.
Figure 1 - Phase VI Exploration Key Target Areas
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The Phase VI program also includes drilling to evaluate the
Condoryacu
target, which represents a new
exploration area where the Company has recently entered into an option agreement to acquire the
property from a third-party vendor.
Condoryacu
is located approximately 3 km south of the latest
conceptual Oculto open pit and has not previously been drill-tested by the Company.
Initial drilling will
focus on verifying historical exploration data and assessing the continuity, geometry and scale of the
mineralization.
Successful results from this work could support the exercise of the option and highlight
the potential for
additional satellite mineralization
within the broader Diablillos district.
Phase VI drilling will also focus on
JAC, Sombra and Fantasma
, where additional drilling is designed
to test for extensions of known mineralization and assess continuity between deposits.
Collectively, the
Phase VI program is expected to support
continued Mineral Resource growth and longer-term
exploration upside
beyond the DFS.
Latest Phase V Drill Results:
As part of the recently completed Phase V drill program, the Company has received additional assay
results from drilling at JAC, which will be incorporated into the upcoming MRE.
Recent drilling at JAC
was primarily aimed at delineating the margins of known mineralization.
Results confirm that silver
mineralization remains present at the periphery of the deposit, although grades decrease as we drill
further away from the higher-grade core.
The latest results are summarized in Table 1, below.
Table 1 - Summary of Key Drill Intercepts:
JAC
Intercepts greater than 2,000 gram-metres silver shown in bolded text:
Drill Hole
Area
From
(m)
To
(m)
Type
Interval (m)
Ag
g/t
Au
g/t
DDH-25-088
JAC
105.0
136.0
Oxides
31.0
45.0
-
DDH-25-089
JAC
81.0
109.0
Oxides
28.0
49.0
-
DDH-25-091
JAC
90.0
100.0
Oxides
10.0
35.4
-
109.0
120.0
Oxides
11.0
68.4
-
DDH-25-093
JAC
70.0
118.0
Oxides
48.0
47.2
-
including
70.0
82.0
Oxides
12.0
80.0
-
135.0
137.0
Oxides
2.0
47.3
-
DDH-25-095
JAC
68.0
76.0
Oxides
8.0
30.9
0.25
Note: All results in this news release are rounded. Assays are uncut & undiluted. Widths are drilled widths, not true widths.
True widths are
unknown.
Figure 2 - Plan View of Drill Results
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Collar Data
Hole Number
UTM Coordinates
Elevation
Azimuth
Dip
Depth (m)
Area
DDH 25-088
719373
7198777
4,144
0
-60
150
JAC
DDH 25-089
719365
7198707
4,142
0
-60
140
JAC
DDH 25-091
719035
7198685
4,133
0
-60
138
JAC
DDH 25-093
719716
7198875
4,169
0
-60
158
JAC
DDH 25-095
720028
7199047
4,201
0
-60
151
JAC
About Diablillos
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 the city of Catamarca. AbraSilver acquired the property in 2016, which
comprises 15 contiguous and overlapping mineral concessions with excellent year-round road access.
Exploration to date has outlined multiple occurrences of silver-gold oxide mineralization at Oculto, JAC,
Laderas, and Fantasma, located within a 500 m to 1.5 km distance surrounding the Oculto/JAC
epicentre. To date, over 150,000 metres have been drilled on the property, which continues to
demonstrate the strong growth potential of shallow, oxide-hosted silver and gold resources.
In addition, a
large porphyry complex is centered approximately 4 km northeast of Oculto which includes outcropping
porphyry intrusions within a major zone of alteration and associated gold rich epithermal mineralization.
Comparatively nearby examples of high sulphidation epithermal deposits include: La Coipa (Chile);
Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo
del Sol (Argentina). The most recent Mineral Resource estimate for Diablillos is shown in Table 2:
Table 2 - Diablillos Mineral Resource Estimate - As of July 21, 2025
Zone
Category
Tonnes
(000 t)
Ag
(g/t)
Au
(g/t)
AgEq
(g/t)
Contained Ag
(000 Oz Ag)
Contained Au
(000 Oz Ag)
Contained
AgEq
(000 Oz Ag)
Tank Leach
Oxides
Measured
26,545
119
0.71
183
101,564
604
156,487
Indicated
46,584
56
0.63
114
84,430
948
170,592
Measured &
73,129
79
0.66
139
185,994
1,553
327,078
Indicated
Inferred
9,693
34
0.57
86
10,616
176
26,647
Heap Leach
Oxides
Measured
6,673
16
0.14
25
3,486
30
5,342
Indicated
24,102
12
0.17
23
9,163
133
17,506
Measured &
30,774
13
0.16
23
12,649
162
22,848
Indicated
Inferred
10,024
9
0.20
21
2,811
64
6,850
Total
Oxides
Measured
33,218
98
0.59
152
105,050
634
161,829
Indicated
70,686
41
0.48
83
93,593
1,081
188,098
Measured &
103,904
59
0.51
105
198,643
1,715
349,927
Indicated
Inferred
19,628
21
0.38
53
13,427
241
33,496
Footnotes for Tank Leach Resource:
1
.
Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2
.
The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver
Recovery).
3
.
The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized
zones defined by wireframed solids, which are a combination of lithology and alteration domains.
The 1m composite grades were capped
where appropriate.
4
.
The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 27.50/oz Ag price, US $2,400/oz Au price,
83% process recovery for Ag, and 87% process recovery for Au.
5
.
The constraining open pit optimization parameters used were US $1.94/t mining cost, US $22.96/t processing cost, US $3.32/t G&A cost, and
average 51-degree open pit slopes.
6
.
The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7
.
A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where,
Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price
(US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t)
+ Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]
8
.
The Mineral Resource is sub-horizontal with sub-vertical feeders and a reasonable prospect for eventual economic extraction by open pit
and tank leach processing methods.
9
.
In-situ bulk density were assigned to each model domain, according to samples averages for each lithology domain, separated by alteration
zones and subset by oxidation.
10
.
All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
11
.
Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
12
.
The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), Independent Qualified Person under NI 43-101.
13
.
Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could
materially affect the potential development of the Mineral Resource.
14
.
All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate
significant figures.
Footnotes for Heap Leach Resource:
1
.
Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2
.
The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver
Recovery).
3
.
The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized
zones defined by wireframed solids, which are a combination of lithology and alteration domains.
The 1m composite grades were capped
where appropriate.
4
.
The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 27.50/oz Ag price, US $2,400/oz Au price,
80% process recovery for Ag, and 58% process recovery for Au.
5
.
The constraining open pit optimization parameters used and overall operational cost of US $11.31/t.
6
.
The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7
.
A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where,
Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price
(US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t)
+ Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]
8
.
In-situ bulk density were assigned to each model domain, according to samples averages for each lithology domain, separated by alteration
zones and subset by oxidation.
9
.
All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
10
.
Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
11
.
The Mineral Resource was estimated by Mr. Peralta, B.Sc., FAusIMM CP (Geo), Independent Qualified Person under NI 43-101.
12
.
Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could
materially affect the potential development of the Mineral Resource.
13
.
All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate
significant figures.
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
best 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 at site; these include blanks and certified reference materials as well as
duplicate core samples which are collected in order to assess sampling precision and reproducibility.
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 ASA (Alex Stewart Argentina) preparation laboratory in Salta, where
they are prepared, then the pulp sachet is directly dispatched to its facility in Mendoza, Argentina, 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 re-analyzed 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, and he has reviewed and approved the
scientific and technical information in this news release.
About AbraSilver
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 (tank leach-only) consists of 73.1 Mt grading 79 g/t Ag
and 0.66 g/t Au, containing approximately 186Moz of silver and 1.6Moz of 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. In addition, the Company has an earn-in
option and joint venture agreement with Teck on the La Coipita project, located in the San Juan province
of Argentina.
AbraSilver is listed on the Toronto Stock Exchange under the symbol "ABRA" and in the
U.S. on the OTCQX 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 X at
www.x.com/abrasilver
.
Alternatively, please contact:
John Miniotis, President and CEO
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. When
considering this forward-looking information, readers should keep in mind the risk factors and other
cautionary statements in the Company's disclosure documents filed with the applicable Canadian
securities regulatory authorities on SEDAR+ at
www.sedarplus.ca
.
The risk factors and other factors
noted in the disclosure documents could cause actual events or results to differ materially from those
described in any forward-looking information. 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 nor its Regulation Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this news release
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