AbraSilver Completes Condoryacu Acquisition; Intersects 72 Metres Grading 18.7 g/t Gold, 117 g/t Silver and 2.06% Copper from Surface Confirmation Drilling Validates High-Grade Mineralization Adjacent to Diablillos Project
AbraSilver Completes Condoryacu
Acquisition; Intersects 72 Metres Grading 18.7
g/t Gold, 117 g/t Silver and 2.06% Copper from
Surface
Confirmation Drilling Validates High-Grade Mineralization
Adjacent to Diablillos Project
Toronto, Ontario--(Newsfile Corp. - March 30, 2026) -
AbraSilver Resource Corp. (TSX: ABRA)
(OTCQX: ABBRF)
("AbraSilver" or the "Company") is pleased to announce that it has completed the
acquisition of the Condoryacu and Maria Amalia properties, located immediately adjacent to its flagship
Diablillos project in Argentina (the "Project").
The acquisitions were completed following final payments
of US$2.5 million for the Condoryacu property and US$250,000 for the María Amalia concession, as
previously announced on
February 17, 2026
.
The company is also pleased to report initial drilling results from its ongoing Phase VI exploration
program, including results from Condoryacu and Oculto East.
At Condoryacu, initial confirmatory drilling has returned very strong results, including a broad, high-grade
intercept of
72 metres grading 18.7 g/t gold, 117 g/t silver and 2.06% copper beginning at
surface
. These results confirm the presence of a high-grade precious and base metal mineralized
system that appears to be related to the broader Oculto-JAC hydrothermal system at Diablillos.
The
72-
metre
intercept grading
18.7 g/t gold
represents the
strongest gold grade-thickness intersection
ever reported within the broader Diablillos district
.
At Oculto East, the first drill hole of the Phase VI campaign (DDH 26-001) intersected a broad,
continuous zone of oxide gold and silver mineralization extending beyond the limits of the current
conceptual open pit, further demonstrating the scale and continuity of the overall mineralized system.
Follow-up drilling is underway as part of an extensive program to expand and define gold-silver
mineralization several hundred metres east of the open pit margin.
Highlights -
Widths are reported as drilled and true widths are not yet known.
Oculto East:
The first Phase VI drill hole returned a broad, continuous interval of oxide
mineralization:
DDH 26-001:
Intercepted
207.5 metres ("m") grading 0.48 g/t gold and 11.4 g/t silver.
Condoryacu:
Initial confirmatory drilling from two holes at Condoryacu (DDH 26-002 and DDH
26-003) validated historic drill results that indicated the presence of
high-grade mineralization
beginning at surface
:
DDH 26-002:
Intercepted a broad interval of high-grade sulphide gold-silver-copper
mineralization beginning at surface:
72.0 m of 18.74 g/t gold, 117.4 g/t silver and 2.06% copper,
starting at surface (0 m
downhole)
DDH 26-003:
Intercepted multiple stacked zones of high-grade sulphide mineralization:
5.0 m of 11.86 g/t gold, 109.2 g/t silver and 0.34% copper,
from 44 m downhole
18.0 m of 4.11 g/t gold, 37.2 g/t silver and 0.09% copper,
from 59 m downhole
2.0 m of 1.21 g/t gold, 11.6 g/t silver and 0.05% copper,
from 84 m downhole
12.0 m of 5.24 g/t gold, 56.9 g/t silver and 0.45% copper,
from 90 m downhole
John Miniotis, President and CEO, commented, "The confirmatory drilling results at Condoryacu
demonstrate the presence of a high-grade mineralized system beginning at surface and located
immediately adjacent to the Diablillos claims.
The grades and widths encountered in these initial holes
confirm historical drilling and point to the presence of modest zone of high-grade mineralization within
the broader Diablillos district, warranting further evaluation."
Table 1 - Summary of Key Drill Intercepts - Condoryacu
Intercepts greater than 25 gram-metres gold shown in bolded text
:
Drill Hole
Area
From
(m)
To
(m)
Type
Interval (m)
Au
g/t
Ag
g/t
Cu
%
DDH-26-001
Oculto East
87.0
100.0
Oxides
13.0
0.35
4.5
-
173.0
194.0
Oxides
21.0
0.48
17.8
-
263.0
470.5
Oxides
207.5
0.48
11.4
-
Including
324.0
344.0
Oxides
20.0
1.09
27.2
-
469.0
470.5
Oxides
1.5
1.62
5.6
-
DDH-26-002
Condoryacu
0.0
72.0
Sulphides
72.0
18.74
117.4
2.06
DDH-26-003
Condoryacu
44.0
49.0
Sulphides
5.0
11.86
109.2
0.34
59.0
77.0
Sulphides
18.0
4.11
37.2
0.09
84.0
86.0
Sulphides
2.0
1.21
11.6
0.05
90.0
102.0
Sulphides
12.0
5.24
56.9
0.45
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 1 -Plan View of Drill Results
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Condoryacu Initial Drilling Highlights
Condoryacu is located immediately adjacent to the existing Diablillos land package and is considered
part of the broader Oculto epithermal system. The area is considered prospective for both gold and
silver mineralization and ground water resources.
Mineralization occurs in outcropping siliceous hydrothermal breccias, with sulphide-hosted gold-silver-
copper mineralization beginning directly at surface. The style of mineralization shares geological
similarities with the deeper parts of the Oculto system but exhibits a stronger sulphide component
relative to the predominantly oxide mineralization currently defined at Diablillos.
Limited historical exploration at Condoryacu comprises 35 diamond drill holes totaling approximately
3,100 metres, completed between 2001 and 2003.
Drilling was carried out by Cardero Resources Corp
in 2001 and subsequently by Maximus Ventures in 2003.
Previous drilling intersected mineralization
within hydrothermal siliceous breccias, however, only a portion of the approximately 350-metre known
strike length has been systematically tested.
The initial confirmatory holes drilled by AbraSilver demonstrate the presence of high-grade sulphide
mineralization within the localised system, and additional drilling is planned to fully evaluate the extent
and continuity of the system.
Figure 2 - Section Through Condoryacu Drill Holes
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Figure 3 -
Plan View of Condoryacu Drill Holes
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Oculto East - Highlights
DDH-26-001 was drilled at Oculto East and confirms the presence of a laterally extensive oxide
mineralized horizon extending beyond the current conceptual open pit limits.
The broad intercept
reinforces the consistency of gold-silver mineralization and supports the interpretation of a continuous
system that continues to remain open to the east and at depth.
Figure 4 -
Section Through Hole DDH-26-001
To view an enhanced version of this graphic, please visit:
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Exploration, Permitting and DFS Update
The Phase VI exploration program is advancing as planned, with a total of 15 drill holes completed so far
in 2026, including 11 holes at Oculto East, two holes at JAC and two holes at Condoryacu.
Results from
this ongoing program are expected to support future Mineral Resource estimate ("MRE") updates and
further enhance the overall scale of the Project, reinforcing its growth potential beyond the DFS.
The Company continues to advance the Environmental Impact Assessment ("EIA") process. In Salta, the
final community engagement meeting is scheduled for April 10, 2026, representing the final key
milestone toward approval, which is expected shortly thereafter.
In Catamarca, the permitting process is
also progressing constructively, with continued engagement with provincial authorities and communities,
and approval are anticipated in Q2/2026.
In parallel, work on the Definitive Feasibility Study ("DFS") is advancing on schedule with completion
targeted for Q2/2026. The DFS results will incorporate the new MRE from the 2025 Phase V drill
program, updated Mineral Reserves based on the latest inputs and a Preliminary Economic
Assessment ("PEA") of a future heap leach expansion.
In parallel, planning is underway for early works
activities to expand existing site infrastructure, advance engineering and secure selected long lead-time
items ahead of a final investment decision by Q4 of this year.
Collar Data
Hole Number
UTM Coordinates
Elevation
Azimuth
Dip
Depth (m)
Area
DDH 26-001
720943
7199405
4,458
0
-60
482
Oculto East
DDH 26-002
721819
7197139
4,335
357
-78
101
Condoryacu
DDH 26-003
721842
7197137
4,334
310
-60
120
Condoryacu
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). Information regarding mineralization from adjacent or nearby properties, including
the deposits listed above, is not necessarily indicative of the mineralization on the Company's Diablillos
project.
The most recent Mineral Resource estimate for Diablillos is shown in Table 3:
Table 3 - 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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