AbraSilver Discovers New Near-Surface, High-Grade Silver Zone at Diablillos; Intersects 357 g/t AgEq (5.1 g/t AuEq) Over 87 Metres New Discovery is Located Over 500m Beyond the Limit of the Current Mineral Resource Estimate
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www.abrasilver.com
AbraSilver Discovers New Near-Surface, High-Grade Silver Zone at Diablillos; Intersects
357 g/t AgEq (5.1 g/t AuEq) Over 87 Metres
New Discovery is Located Over 500m Beyond the Limit of the Current Mineral Resource Estimate
Toronto – August 03, 2022: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF)
("AbraSilver" or the “Company”) is very pleased to announce the discovery of a new near-surface, high-
grade silver zone, located over 500 metres southwest of the Oculto Mineral Resource, on the Company's
wholly-owned Diablillos property in Salta Province, Argentina (“Diablillos” or the “Project”).
Diamond drill hole DDH 22-019 contains the discovery hole for the promising new zone, called the
‘Southwest zone’. Key takeaways include:
Hole DDH 22-019 intersected a high-grade interval of 87 metres at 357 g/t AgEq (5.1 g/t AuEq -
comprised of 346 g/t Ag and 0.15 g/t Au) in oxides starting at a down-hole depth of only 89
metres. The hole included a 22 metre interval grading 1,033 g/t AgEq (14.8 g/t AuEq –
comprised of 1,015 g/t Ag & 0.27 g/t Au);
The reconnaissance hole was drilled to test a magnetic anomaly extending beneath colluvial cover
southwest of Oculto. The newly discovered Southwest zone is located over 500 metres beyond
the limit of the current Mineral Resource estimate at Oculto.
John Miniotis, President and CEO, commented, “We’re thrilled that we continue to discover new high-
grade, near-surface silver mineralization at our world-class Diablillos project. It is extremely promising for
the first hole in a new, untested target to return such strong, high-grade results. Importantly, the high-
grade mineralization is thick, near surface, and demonstrates excellent potential for continuity, thereby
ranking it as our highest-priority exploration target for our ongoing Phase III drill program. We’re eagerly
looking forward to announcing more results from this new zone over the coming weeks and months
ahead."
The latest assay result highlights are summarized in Table 1 and Table 2 below.
Table 1 – Diablillos - Discovery Hole DDH 22-019
(Intercepts greater than 2,000 gram-metres 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-22-019 89 176 Oxides 87.0 346.0 0.15 - 356.5 5.09
DDH-22-019 Includes 152 174 Oxides 22.0 1,014.5 0.27 - 1,033.4 14.76
DDH-22-019 Includes 152 159 Oxides 7.0 2,001.0 0.42 - 2,030.4 29.01
DDH-22-019 177 178 Sulphides 1.0 31.3 0.06 2.63 251.9 3.60
Dave O’Connor, Chief Geologist, commented, “Hole DDH 22-019 is a spectacular exploration success.
The hole was drilled to test a linear magnetic anomaly interpreted as being a potential feeder zone hosting
a mineralised breccia. This has turned out to be the case and is supported by the high-grade copper
sulphide mineralisation at the base of the oxide silver zone. The magnetic anomaly extends for over one
kilometre under colluvial cover southwest of Oculto. Looking forward, our immediate priority is to now
systematically drill the Southwest zone in order to determine the scale of this new system. The colluvial
cover is about 50-60 metres thick, and the oxide silver mineralisation appears to commence immediately
beneath it, presenting an ideal open pit mining situation.”
Table 2 – Diablillos Other Drill Result Highlights
(Intercepts greater than 2,000 gram-metres AgEq shown in bold text):
Drill Hole
From
(m)
To
(m) Type
Interval
(m)
Ag
g/t
Au
g/t
AgEq1
g/t
AuEq1
g/t
DDH-22-017 74.5 96 Oxides 21.5 38.4 0.07 43.3 0.62
DDH-22-017 99 130 Oxides 31.0 48.4 0.87 109.3 1.56
DDH-22-017 Includes 99 108 Oxides 9.0 71.3 2.32 233.7 3.34
DDH-22-017 138.5 154 Oxides 15.5 91.0 0.16 102.2 1.46
DDH-22-018 72 88 Oxides 16.0 45.4 0.02 46.8 0.67
DDH-22-018 100 113 Oxides 13.0 46.8 0.01 47.5 0.68
DDH-22-020 48.5 56 Oxides 7.5 29.6 0.01 30.0 0.43
DDH-22-020 96 121 Oxides 25.0 44.6 0.06 48.8 0.70
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.
1AgEq & AuEq calculations for reported drill results are based on USD $1,750/oz and $25.00/oz Ag. The calculations assume
100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.
Figure 1 – Oculto Plan View of Drill Results
Discussion of Drill Hole Results
Hole DDH 22-019 was a step-out reconnaissance hole drilled to test a magnetic anomaly extending
beneath colluvial cover southwest from the currently defined mineralization at Oculto. The hole is located
over 500 metres beyond the limit of the current Oculto Mineral Resource estimate and discovered a new
shallow zone of high-grade silver mineralization including visible silver. The hole, which was inclined 60
degrees to the north, intersected 87 metres grading 346 g/t silver and 0.15 g/t gold in oxide
mineralisation from 89.0 to 176.0 metres down-hole, including 22.0 metres grading 1,015 g/t silver
and 0.27 g/t gold, and including 7.0 meters with 2,001 g/t silver and 0.42 g/t gold . The hole was
stopped in sulphide mineralization with 1.0 metre at 31.3g/t Ag and 2.63% Cu from 177.0 to 178.0 metres.
A follow-up hole, DDH 22-044, has recently been drilled 50 metres east-northeast of hole DDH 22-019
and, based on visual interpretation, appears to have intersected very similar altered breccia for which
analytical results are currently pending. Five additional drill platforms have been prepared in the
Southwest zone which will enable immediate systematic follow-up drilling.
The new Southwest zone adds a brand-new dimension to the Diablillos project and opens up
considerable blue sky potential. The prominent linear magnetic anomaly tested by hole DDH 22-019
follows the same east-northeast direction as the conduits that host the mineralised hydrothermal breccias
at Oculto. The structural zone interpreted to be the cause of the magnetic anomaly extends for at least
one kilometre beyond the conceptual Oculto open pit margin. The high-grade silver encountered in hole
DDH 22-019 demonstrates potential for a major mineralised zone extending well to the southwest of
Oculto.
Hole DDH 22-017 was drilled in the northeast zone to test a parallel structure north of the Main Breccia.
The hole successfully intersected several shallow intercepts of oxide mineralisation, with 31 metres at
48.4g/t silver and 0.87g/t gold starting from 99.0 metres downhole.
Holes DDH 22-018 and DDH 22-020 were drilled to explore for shallow mineralisation in the southwest
part of the proposed Oculto pit, north of the Main Breccia. Both holes intersected moderate grade, shallow
mineralisation.
Figure 2 – Cross Section (Looking Northwest) with Highlighted Intercepts in Hole DDH 22-019
Figure 3 – Plan of Newly Discovered Southwest Zone Showing Hole DDH 22-019 and Nearest High-Grade
Intercepts Within Oculto Pit Outline
Figure 4 – Plan Showing Hole 22-019 in Relation to Magnetic Anomaly and Interpreted Structure
Diablillos Drill Program Update
The Company’s Phase II, 20,000-metre drill program has been successfully completed, having delivered
numerous positive results throughout the past year. At this time, assay results for the final 12 holes from
this campaign remain pending and are expected to be received over the next several weeks. Once all
assay results from the Phase II program are received, the Company will prepare and publish an updated
Mineral Resource estimate, which is anticipated to be completed in September 2022. The best results
to date from the Phase II program are summarized in Table 3, below.
Table 3 – Diablillos Project – Top Phase II Drill Intercepts Reported to Date
Hole From (m) To (m) Zone Interval
(m)
Ag (g/t) Au (g/t) AgEq1
(g/t)
AuEq1
(g/t)
22-004 131.0 271.0 Tesoro 140.0 219.0 1.17 300.9 4.30
21-038 112.0 221.3 Tesoro 109.3 176.8 1.53 283.9 4.06
22-019 89.0 176.0 Southwest 87.0 346.0 0.15 356.5 5.09
22-005 84.0 151.5 Oculto SW 67.5 157.4 1.95 293.9 4.20
21-067 242.0 308.0 Oculto NE 66.0 57.0 1.90 190.0 2.71
21-045 108.0 172.5 Oculto SW 64.5 125.6 0.61 171.4 2.28
21-064 86.0 147.0 Oculto NE 61.0 140.2 0.71 189.9 2.71
21-068 89.0 146.0 Oculto SW 57.0 108.0 1.47 210.9 3.01
21-022 192.0 245.0 Oculto NE 53.0 33.3 2.49 207.6 2.97
21-015 131.5 157.5 Tesoro 26.0 2,357.6 0.36 2,382.8 34.04
1 AgEq & AuEq calculations for reported drill results are based on USD $1,750/oz Au, and $25.00/oz Ag. The calculations
assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.
The Company has commenced an additional 15,000-metre Phase III exploration program designed to
further expand Mineral Resources across the Diablillos property. The size of the drill program may be
expanded, if warranted.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 22-017 E720160 N7199502 4,251 0 -60 200
DDH 22-018 E719924 N7199078 4,189 0 -60 140.5
DDH 22-019 E719673 N7198780 4,165 0 -60 212
DDH 22-020 E719957 N7199100 4,193 0 -60 152
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 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).
The most recent Mineral Resource Estimate for the Oculto Deposit is shown in Table 4 below:
Table 4 - 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 0.70 3,181 66
Effective September 8, 2021. The Mineral Resource estimate and supporting Technical Report are N.I. 43-101 compliant. Full
details of the Mineral Resources are available in a Company news release dated September 15, 2021. For additional
information please see Technical Report on the Diablillos Project, Salta Province, Argentina, dated October 28, 2021,
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 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 current Measured and Indicated Mineral Resource of over 90 million ounces of silver and 1.0 million ounces
of gold. The updated PEA study completed in November 2021 demonstrates that Diablillos has the potential to be
a highly-economic project. 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. 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