AbraPlata Increases 2020 Exploration Program at Diablillos Silver-Gold Project
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AbraPlata Increases 2020 Exploration Program at Diablillos Silver-Gold Project
Toronto - July 20, 2020: AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata" or
the “Company”) is pleased to announce a significant increase to its ongoing 2020 exploration program at
the Company’s 100% owned Diablillos silver-gold project with an additional 5,000 metres of diamond
drilling planned. The expanded exploration program will increase the planned drilling for the 2019-2020
program to total approximately 8,000 metres in approximately 17 diamond drill holes.
The Company recently completed drilling the four-hole program announced on June 02, 2020, and
expects initial assay results in early August, at which stage the Company will provide an update.
John Miniotis, President and CEO of the Company, stated “We are very pleased to announce a significant
increase to our fully-funded exploration program at Diablillos. The expansion of the drill program allows
us to continue to test the extension of high-grade gold mineralization beneath the current mineral
resources and along strike. With assay results pending from recently drilled holes and drilling activities
expected to continue for the next four months, we now eagerly anticipate steady news flow from the
exploration program throughout the remainder of the year.”
Planned 5,000 Metre Drill Program Objectives
The additional 5,000 metres (approximately 10 holes) of diamond drilling will utilize a single drill from
August to approximately November 2020. The main objective of the exploration program is to further
expand known resources of the lower gold dominant zone located close to the andesite/basement
unconformity at Oculto, which is a high sulphidation epithermal system. The planned program will consist
of:
Several holes targeting a broadly horizontal zone of higher-grade gold mineralization which
occurs at or near the contact of the Tertiary volcanic rocks and the Ordovician basement
assemblage. The gold mineralization along this contact zone is approximately 30 meters thick
and is one of the key targets for the upcoming drill program, as are the steeply-dipping
hydrothermal breccias that extend into the basement below the contact zone (see block diagram
in Figure 1).
As the sulphide related gold/silver/copper mineralization occurs immediately beneath the oxide
gold mineralization, the drilling is designed to target the host breccia zones (feeders), while also
intersecting the shallowly dipping oxide gold zone above them (Figure 1).
Drilling is also designed to expand the deeper gold zone to the east and relate drill intercepts to
detailed outcrop mapping of silica breccia zones, as silver and gold mineralization at Oculto is
associated with these breccias.
Selected deeper holes are planned to test the Laderas siliceous breccia zone immediately to the
north of Oculto. In addition, these holes will test for new siliceous breccias between Laderas and
Oculto.
One deeper hole is planned at Oculto to test for depth extensions of the Main Breccia on section
8225E where hole DDH 20-001 intersected 15m of 658g/t Ag, 2.35g/t Au and 5.1% Cu from 275
to 290m depth.
A ground magnetic survey is also planned in the next month to identify potential mineralizing
structures under the colluvial covered plain between Oculto and Fantasma/Alpaca that may result
in additional drill targets.
Figure 1 – Block Diagram Showing Position of Mineralized Zones
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 85,000 metres drilled in 306 RC and diamond drill
holes. 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: El Indio, Chile; Veladero, Argentina; and Pascua Lama,
on the Chile-Argentine border.
Qualified Persons
David O’Connor P.Geo., Chief Geologist for AbraPlata, 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.
About AbraPlata
AbraPlata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects
in Argentina and Chile. The Company is focused on advancing its 100%-owned Diablillos silver-gold project in the
mining-friendly Salta province of Argentina, which is well-advanced, with more than US$35 million spent historically
on exploration with drilling ongoing and an initial open pit PEA completed in 2018. The Company is led by an
experienced management team and has long-term supportive shareholders including Altius Minerals and SSR
Mining. In addition, AbraPlata owns 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. AbraPlata is listed on the TSX-V under the symbol “ABRA”.
For further information please visit the AbraPlata Resource website at www.abraplata.com or contact:
John Miniotis, President & 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. 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.
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