AbraSilver Drills 14m at 5.76 g/t Gold-Equivalent in Step-Out Hole at Diablillos High-Grade Intercept Includes 2m at 17.09 g/t Gold-Equivalent (1,196 g/t Silver-Equivalent)
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Drills 14m at 5.76 g/t Gold-Equivalent in Step-Out Hole at Diablillos
High-Grade Intercept Includes 2m at 17.09 g/t Gold-Equivalent (1,196 g/t Silver-Equivalent)
Toronto - February 22, 2022: AbraSilver Resource Corp. (TSX.V:ABRA; OTCQX: ABBRF)
("AbraSilver" or the “Company”) is pleased to announce the latest diamond drill hole assays from the
ongoing Phase II drill program on the Company’s wholly-owned Diablillos property in Salta Province,
Argentina. The latest step-out drill holes continue to show excellent potential to expand Mineral
Resources towards the northeast, well beyond the proposed PEA open pit margin.
David O’Connor, Chief Geologist, commented, “We continue to be very encouraged with each additional
drill result we receive from our Phase II program. Holes DDH 21-065 and DDH 21-066 both show
additional extensions to the mineralization in the gold-dominant northeast zone. Importantly, hole DDH
21-066 opens up hundreds of meters of potential in the “West Breccia Zone”. These new intersections
are expected to add to the updated Mineral Resource estimate planned for later this year.”
The latest assay result highlights are summarized in Table 1 below.
Table 1 – Drill Results of Holes in Northeast Zone
(Intercepts greater than 2,000 gram-meters AgEq shown in bold text):
Drill Hole
From
(m)
To
(m) Type
Interval
(m)
Au
g/t
Ag
g/t
Cu
%
AuEq1
g/t
AgEq1
g/t
DDH-21-065 72 119 Oxides 47.0 - 43.0 - 0.61 43.0
DDH-21-065 Including 96 106 Oxides 10.0 - 87.1 - 1.24 87.1
DDH-21-065 151 158 Oxides 7.0 - 35.9 - 0.51 35.9
DDH-21-065 198 202 Oxides 4.0 0.28 33.6 - 0.76 53.2
DDH-21-065 205 210 Oxides 5.0 0.83 24.4 - 1.18 82.5
DDH-21-065 218 224 Oxides 6.0 0.80 33.0 - 1.27 89.0
DDH-21-065 227 228.5 Oxides 1.5 1.12 22.5 - 1.44 100.9
DDH-21-065 254 277.5 Oxides 23.5 1.66 31.0 - 2.10 147.2
DDH-21-065 Including 268 277.5 Oxides 9.5 2.59 29.5 - 3.01 210.8
DDH-21-065 291 305 Transition 14.0 5.07 12.2 0.44 5.76 403.3
DDH-21-065 Including 299 301 Transition 2.0 15.73 23.4 0.87 17.09 1,196.1
DDH-21-066 128 131 Oxides 3.0 - 29.9 - 0.43 29.9
DDH-21-066 143 148 Oxides 5.0 0.22 31.9 - 0.68 47.3
DDH-21-066 152 162 Oxides 10.0 0.16 27.8 - 0.56 39.0
DDH-21-066 169 173 Oxides 4.0 5.87 63.6 - 6.78 474.5
DDH-21-066 182.6 200 Oxides 17.4 2.30 42.5 - 2.91 203.5
DDH-21-066 Including 191.5 200 Oxides 8.5 2.77 62.6 - 3.66 256.5
DDH-21-066 210 215 Oxides 5.0 1.28 94.3 - 2.63 183.9
DDH-21-066 230 231.5 Transition 1.5 1.31 19.2 0.36 2.01 140.5
DDH-21-066 248 251 Transition 3.0 0.89 6.4 - 0.98 68.7
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.
1 AgEq & AuEq calculations for reported drill results are based on USD $1,750/oz Au, $25.00/oz Ag and $3.00/lb Cu. The
calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal
prices.
Figure 1 – Drill Hole Location Map
Figure 2 – Long Section of Step-Out Hole DDH 21-066, Located ~350m Beyond Current Pit Boundary
As seen in Figure 2 above, hole DDH 21-066 further establishes the potential for mineralisation to
continue to expand towards the northeast. The gold resource blocks are shown in red, while the silver
resource blocks are in blue. All blocks outside of the open pit constraint, were not included in the PEA
study completed in November 2021.
Discussion of Drill Hole Results
Holes DDH 21-065 and DDH 21-066 were drilled to test the north-eastern extension of the Oculto
mineralized system beyond the existing PEA open pit boundary. Hole DDH 21-065 intersected high-
grade gold beneath the pit on the Main breccia zone, while hole DDH 21-066 intersected high-grade gold
approximately 350 meters northeast of the open pit boundary on the West/North breccia zone.
Importantly, the West and North breccia zones appear very close in the vicinity of hole DDH 21-066 and
may coalesce. The mineralisation may expand into the undrilled area northeast of hole DDH 21-066,
which is essentially a newly discovered mineralized zone. The Company will immediately conduct further
drilling in this area.
Hole DDH 21-065 intersected multiple mineralised zones starting at 72 meters downhole, including 14.0
meters at 5.07 g/t gold, 12.2 g/t silver and 0.44% copper from 291 to 305 meters, including 2.0 meters
at 15.73 g/t gold, 19.7g/t silver and 0.87% copper . This is the gold-dominant mineralisation in an
oxide/sulphide transition zone and shows potential to expand the open pit at depth and towards the
northeast.
Hole DDH 21-066 intersected high grade gold mineralisation approximately 350 meters northeast of the
open pit margin, with 4.0 meters at 5.87 g/t gold and 63.6 g/t silver from 169 to 173 meters and 8.5
meters at 2.77 g/t gold and 62.6 g/t silver from 191.5 to 200.0 meters. This is an extension of the West
Breccia zone and potentially opens up a newly discovered mineralized zone, as shown in Figure 2 above.
Both drill holes demonstrate the potential to allow a north-eastwards expansion of the conceptual PEA
open pit, as well as deeper, underground mineable grades in oxide mineralisation.
Figure 3 – Cross Section (Looking East) with Highlighted intercepts in Hole DDH 21-065
Figure 4 - Cross Section (Looking East) with Highlighted intercepts in Hole DDH 21-066
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth
DDH 21-065 E720372 N7199566 4,288 180 -60 326
DDH 21-066 E720583 N7199960 4,267 180 -60 302
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 meters 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 Mineral Resource for the Oculto Deposit is shown in Table 2 below:
Table 2 - 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 and SSR Mining. 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