AbraSilver Drills 294 g/t AgEq over 67.5m at Diablillos & Provides La Coipita Drilling Update High-Grade Oxide Intercept Contains 757 g/t AgEq (10.81 g/t AuEq) over 17m
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www.abrasilver.com
AbraSilver Drills 294 g/t AgEq over 67.5m at Diablillos & Provides La Coipita Drilling
Update
High-Grade Oxide Intercept Contains 757 g/t AgEq (10.81 g/t AuEq) over 17m
Toronto - April 27, 2022: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF) ("AbraSilver"
or the “Company”) is pleased to announce assay results from its latest diamond drill hole from the ongoing
Phase II program on the Company’s wholly-owned Diablillos property in Salta Province, Argentina. Key
takeaways from the latest intercept includes:
Hole DDH 22-005 returned a near-surface oxide interval of high-grade gold and silver with 67.5
metres at 293.9 AgEq (or 4.20 g/t AuEq – comprised of 157 g/t Ag and 1.95 g/t Au), including
17 metres at 756.8 g/t AgEq (or 10.81 g/t AuEq - 235 g/t Ag and 7.46 g/t Au); and
This latest step-out hole is located southwest of the existing Oculto Mineral Resource and the
mineralization now extends to an area of 600 metres by 2,000 metres and remains open along
strike and at depth.
John Miniotis, President and CEO, commented, “Hole after hole, our ongoing drill program at Diablillos
continues to far exceed all expectations. Hole DDH 22-005 was drilled on the southwest margin of the
conceptual open pit and clearly demonstrates the continuity of high-grade mineralization beyond what
was previously estimated. We look forward to building momentum with additional exploration news flow
expected in the weeks and months ahead.”
The Company is also pleased to report that it has completed a maiden drill program at the La Coipita
project in the San Juan province of Argentina, and is currently awaiting assay results from the laboratory.
Hole DDHC 22-001 was terminated at 865 metres, while DDHC 22-002 was terminated at just over 1,200
metres depth.
Dave O’Connor, Chief Geologist, commented, “At La Coipita, we are very excited about the successful
completion of our initial deep drilling program which we believe indicates the presence of a large copper-
molybdenum-gold porphyry system. Visual inspection of core has identified chalcopyrite with secondary
coatings of covellite and pyrite replaced by chalcosite, with B veins containing molybdenite. While all
assay results are pending, the mineralised zone from 517 to 1,001m in hole DDHC 22-002 was
significantly thicker than expected, illustrating the potential for a major copper-gold porphyry system with
a molybdenum overprint.”
The latest assay result highlights from drilling at the Diablillos project are summarized in Table 1 below.
Table 1 – Diablillos 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-22-005 20 34 Oxides 14.0 21.8 - 21.8 0.31
DDH-22-005 84 151.5 Oxides 67.5 157.4 1.95 293.9 4.20
DDH-22-005 Including 117 134 Oxides 17.0 234.6 7.46 756.8 10.81
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 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 – Diablillos Location Map Of Drill Holes Completed To Date in 2021/2022
Hole DDH 22-005 at Diablillos
Hole DDH 22-005 was drilled perpendicular to the Main Breccia in order to test the true thickness of the
southwest extension of the high-grade zone of the Oculto Mineral Resource. The hole successfully
intersected a high-grade interval of 17.0 metres grading 234.6 g/t silver and 7.46 g/t gold in oxides
from 117 to 134 metres downhole. This hole is located approximately 300 metres southwest of hole
DDH 22-004 which was announced on April 11th, and intersected 140 metres grading 219.0 g/t silver
and 1.17 g/t gold. These recent results clearly demonstrate the scale of high-grade mineralization in the
Main Breccia zone and, together with other holes in the area, are expected to add significant value to the
economics of the Diablillos project. Broad spaced drilling beyond the Oculto Mineral Resource both
towards the northeast and southwest has intersected mineralisation well beyond the planned pit and
drilling is underway to expand Mineral Resources in these areas.
Figure 2 – Cross Section (Looking East) with Highlighted intercepts in Hole DDH 22-005
Exploration Outlook
La Coipita Project Update, San Juan, Argentina
The Company has completed its maiden drill program at the La Coipita project, located in the San Juan
province of Argentina, and is currently awaiting assay results from the laboratory. Based on encouraging
visual data at the time of drilling, the drill program was modified to test a deep porphyry target. Hole
DDHC 22-001 was terminated at 865 metres, while DDHC 22-002 was terminated at just over 1,200
metres depth.
The two deep drill holes at La Coipita were targeted at a surface geochemistry pattern interpreted as
being a reflection of an underlying porphyry system. This has been confirmed by visual inspection at the
time of drilling and assay results for both holes at La Coipita have been prioritized.
Hole DDHC 22-002 intersected large-scale copper-gold porphyry style sulphide mineralisation together
with molybdenum from 517m depth to the end of the hole at 1,202.5 meters depth. The mineralisation is
in rocks that are host to the porphyry intrusion which has not yet been intersected. Hole 22-002 stopped
in mineralisation and was terminated for technical reasons. Additional drilling in this potential major
porphyry system is planned for next field season, which is expected to start in September 2022, with the
objective of intersecting the central porphyry intrusive progenitor.
Diablillos Phase II Update
A total of 16,630 metres has now been completed as part of the Company’s ongoing 20,000-metre Phase
II exploration program at Diablillos. Drills are focused on expanding mineralization for inclusion in the
next Mineral Resource Estimate, anticipated in Q3 2022, as well as in-fill drilling (estimated 25 metre
spacing) to reclassify existing Indicated Mineral Resources to the Measured category. To date, our
Phase II drill results reveal the exceedingly high-grade nature of the Diablillos project and validates the
Company’s geological model. At the moment, the Company has an additional six holes at the laboratory
for which results are pending over the next few weeks. The best results to date from the Phase II program
are summarized in Table 2, below.
Table 2 – Diablillos Project – Top Phase II Drill Intercepts Reported to Date
Hole From (m) To (m) Type Interval
(m)
Ag (g/t) Au (g/t) AgEq1
(g/t)
AuEq1
(g/t)
22-004 131 271 Oxides 140.0 219.0 1.17 300.9 4.30
21-038 112 221.3 Oxides 109.3 176.8 1.53 283.9 4.06
22-005 84 151.5 Oxides 67.5 157.4 1.95 293.9 4.20
21-067 242 308 Oxides 66.0 57.0 1.90 190.0 2.71
21-068 89 146 Oxides 57.0 108.0 1.47 210.9 3.01
21-022 192 245 Oxides 53.0 33.3 2.49 207.6 2.97
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.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth
DDH 22-005 E720043 N7199151 4,210 315 -60 176
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 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. 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