AbraSilver Announces Additional High-Grade Drill Results at the JAC Zone Including 10 Metres at 520 g/t Ag & 19 Metres at 253 g/t Ag
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Announces Additional High-Grade Drill Results at the JAC Zone
Including 10 Metres at 520 g/t Ag & 19 Metres at 253 g/t Ag
Toronto – June 26, 2023: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF) (“AbraSilver”
or the “Company”) is pleased to announce the latest assay results from the ongoing Phase III diamond
drilling program on the Company’s wholly-owned Diablillos property in Salta Province, Argentina
(“Diablillos” or the “Project”).
Drilling is now aimed at determining the margins of the high-grade silver oxide mineralization at the JAC
Zone, in preparation for a Mineral Resource estimate to be announced later this year.
Key takeaways from the latest JAC Zone drill results include:
DDH 23-030 was drilled to test the southwest area of the JAC Zone. The hole encountered 28.3
metres grading 76.3 g/t Ag from a downhole depth of 93.7 metres.
DDH 23-032 was drilled beyond the northwest area of JAC, towards the Alpaca target. The hole
intersected multiple zones of silver mineralization in oxides, including 24.5 metres at 176.7 g/t
Ag from 131.0 metres downhole.
o Follow-up drilling in this area will be conducted to test for a possible new perpendicular
zone of mineralization beyond the JAC Zone, which coincides with a magnetic low.
DDH 23-033 was drilled in the far southwest area of the JAC Zone and intersected 14.0 metres
grading 193.0 g/t Ag from 125.5 metres downhole.
DDH 23-036 was drilled to test the southwest area of the JAC Zone. The hole intersected several
zones of silver mineralization, including 10.0 metres grading 520.0 g/t Ag, and a separate zone
of 4.5 metres grading 496.8 g/t Ag.
DDH 23-039 was drilled to test the southeastern area of the JAC Zone and intersected 19.0
metres grading 253.4 g/t Ag, starting from a downhole depth of 105.0 metres.
DDH 23-044 was drilled along the southeastern area of the JAC Zone and intersected 20.0
metres grading 112.5 g/t Ag, starting from a downhole depth of only 73.0 metres.
John Miniotis, President and CEO, commented, “Today’s drill results continue to grow the mineralized
footprint of the new JAC zone in several directions. In addition, these results demonstrate continuity of
silver mineralization beyond the main JAC Zone, highlighting the potential for additional silver Mineral
Resources in new target areas, like the Alpaca target."
Dave O’Connor, Chief Geologist, commented, “Drilling to determine the extremities of the JAC
mineralized system continues to intersect several zones beyond the margins of the main orebody and
these areas demonstrate significant exploration upside. In particular, hole 23-032, which intersected
silver oxide mineralisation between the main JAC Zone and the Alpaca target, demonstrates potential for
mineralised structures perpendicular to the JAC trend and provides further validation of mineralization
being associated with magnetic lows. This Alpaca-JAC target area, as well as the Fantasma Zone, will
be targeted in a new drilling campaign which will commence following completion of the JAC drilling.”
The latest assay result highlights are summarized in Table 1 below.
Table 1 – Diablillos Drill Results in JAC Zone
(Intercepts greater than 2,000 gram-metres Ag shown in bold text):
Drill Hole Area
From
(m)
To
(m) Type
Interval
(m)
Ag
g/t
Au
g/t
DDH-23-030 Southwest 93.7 122.0 Oxides 28.3 76.3 -
DDH-23-030 135.0 148.0 Oxides 13.0 108.7 -
DDH-23-031 Southeast 148.5 157.0 Oxides 8.5 93.9 0.07
DDH-23-032 Northwest/Alpaca 60.5 80.0 Oxides 19.5 63.1 -
DDH-23-032 106.0 107.5 Oxides 1.5 193.2 -
DDH-23-032 131.0 155.5 Oxides 24.5 176.7 -
DDH-23-033 Southwest 125.5 139.5 Oxides 14.0 193.0 -
DDH-23-034 Southwest 115.0 121.0 Oxides 6.0 77.0 -
DDH-23-034 134.0 145.0 Oxides 11.0 47.5 -
DDH-23-035 Northwest 112.0 121.0 Oxides 9.0 207.4 -
DDH-23-035 139.0 148.0 Oxides 9.0 78.1 -
DDH-23-036 Southwest 86.5 91.0 Oxides 4.5 30.1 -
DDH-23-036 96.0 98.0 Oxides 2.0 58.6 -
DDH-23-036 127.0 132.0 Oxides 5.0 40.9 -
DDH-23-036 140.0 150.0 Oxides 10.0 520.0 0.04
DDH-23-036 155.0 159.5 Oxides 4.5 496.8 0.10
DDH-23-037 Southwest 84.0 93.0 Oxides 9.0 53.9 -
DDH-23-037 104.0 118.0 Oxides 14.0 83.5 -
DDH-23-038 Southwest 103.0 116.0 Oxides 13.0 51.8 -
DDH-23-038 133.0 137.0 Oxides 4.0 103.3 -
DDH-23-039 Southeast 105.0 124.0 Oxides 19.0 253.4 -
DDH-23-039 131.0 135.0 Oxides 4.0 106.8 -
DDH-23-040 Northwest 79.0 101.0 Oxides 22.0 70.2 0.10
DDH-23-041 Southeast 79.0 86.0 Oxides 7.0 47.8 -
DDH-23-041 90.0 94.0 Oxides 4.0 59.6 -
DDH-23-041 115.0 119.0 Oxides 4.0 62.0 0.04
DDH-23-041 145.0 146.5 Oxides 1.5 105.6 -
DDH-23-042 Northwest 80.0 85.0 Oxides 5.0 39.5 -
DDH-23-042 95.0 101.0 Oxides 6.0 37.7 0.08
DDH-23-042 106.0 109.0 Oxides 3.0 46.5 0.07
DDH-23-043 Northwest 72.0 77.0 Oxides 5.0 36.1 -
DDH-23-043 84.0 87.0 Oxides 3.0 50.5 -
DDH-23-043 90.0 93.0 Oxides 3.0 50.1 -
DDH-23-043 96.0 101.5 Oxides 5.5 48.8 -
DDH-23-043 125.0 142.0 Oxides 17.0 61.7 -
DDH-23-044 Southeast 73.0 93.0 Oxides 20.0 112.5 -
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 for oxides.
Figure 1 – Plan View of Announced Drill Holes in JAC Zone
Figure 2 – Long Section Through Newly Announced Drill Holes in JAC Zone
Exploration Update
Drilling activity at Diablillos remains focused on the recently discovered JAC zone which is located
southwest of the conceptual open pit that constrains the current Mineral Resource estimate (“MRE”) on
the main Oculto deposit (M&I MRE containing 1.3 Moz gold and 109 Moz silver – Table 2).
To date, a total of 21,600 metres in 95 holes have been drilled as part of the Phase III drill program. All
holes will be incorporated into an updated MRE and will be included in a Pre-Feasibility Study on the
Diablillos project, which the Company expects to complete in the second half of 2023.
Moreover, additional exploration targets have been identified to the southwest of the Oculto MRE based
on the recently completed detailed ground magnetic survey. Some of these targets, including the
Fantasma and Alpaca targets, will be drilled following the completion of the current Phase III drill program.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 23-030 E719383 N7198609 4,144 315 -60 186
DDH 23-031 E719726 N7198731 4,171 0 -60 215
DDH 23-032 E719211 N7198663 4,132 0 -60 203
DDH 23-033 E719322 N7198550 4,139 315 -60 176
DDH 23-034 E719414 N7198585 4,151 315 -60 173
DDH 23-035 E719367 N7198623 4,143 315 -60 170
DDH 23-036 E719451 N7198620 4,148 315 -60 203
DDH 23-037 E719405 N7198650 4,146 315 -60 185
DDH 23-038 E719360 N7198578 4,142 315 -60 170
DDH 23-039 E719500 N7198639 4,152 315 -60 173
DDH 23-040 E719450 N7198676 4,148 315 -60 179
DDH 23-041 E719525 N7198666 4,154 315 -60 182
DDH 23-042 E719485 N7198700 4,151 315 -60 182
DDH 23-043 E719501 N7198735 4,153 315 -60 173
DDH 23-044 E719550 N7198697 4,157 315 -60 173
About Diablillos
The 80 km 2 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 over 120,000 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).
The most recent Mineral Resource estimate for the Oculto Deposit is shown in Table 2:
Table 2 - Oculto Mineral Resource Estimate – As of October 31, 2022
Category Tonnage
(000 t)
Ag
(g/t)
Au
(g/t)
Contained Ag
(000 oz Ag)
Contained Au
(000 oz Au)
Measured 19,336 98 0.88 60,634 544
Indicated 31,978 47 0.73 48,737 752
Measured &
Indicated 51,314 66 0.79 109,370 1,297
Inferred 2,216 30 0.51 2,114 37
Notes: Effective October 31, 2022. Mineral Resources are not Mineral Reserves and have not demonstrated economic
viability. The Mineral Resource estimate is N.I. 43-101 compliant and was prepared by Luis Rodrigo Peralta, B.Sc., FAusIMM
CP(Geo), Independent Consultant. The mineralization estimated in the Mineral Resource is sub-horizontal with sub-vertical
feeders and a reasonable prospect for eventual economic extraction by open pit methods. For additional information please
see Technical Report on the Diablillos Project, Salta Province, Argentina, dated November 28, 2022, completed by Mining
Plus, and available on www.SEDAR.com.
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, 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 consists of 51.3 Mt grading 66g/t Ag and 0.79g/t Au, containing approximately
109Moz silver and 1.3Moz 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 including Mr.
Eric Sprott. In addition, AbraSilver owns a portfolio of earlier-stage copper-gold projects including the La Coipita
copper-gold project in the San Juan province of Argentina. 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
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.sedar.com. 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 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