AbraSilver Drills Best Silver Intercept to Date at the JAC Zone, 32,481 g/t Ag over 1 Metre Within Broader Intercept of 3,025 g/t Ag over 14 Metres in Oxides Bonanza-Grade Interval is the All-Time Highest-Grade Silver Result from Diablillos
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Drills Best Silver Intercept to Date at the JAC Zone, 32,481 g/t Ag over 1
Metre Within Broader Intercept of 3,025 g/t Ag over 14 Metres in Oxides
Bonanza-Grade Interval is the All-Time Highest-Grade Silver Result from Diablillos
Toronto – March 14, 2023: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF)
(“AbraSilver” or the “Company”) is very pleased to announce assay results from its latest diamond drill
holes from the ongoing Phase III program on the Company’s wholly-owned Diablillos property in Salta
Province, Argentina (“Diablillos” or the “Project”).
Hole DDH 23-004 encountered the all-time highest-grade silver intercept recorded on the entire
Diablillos project to date. Key takeaways from hole DDH 23-004 include:
DDH 23-004 intersected a broad zone of exceptionally high-grade silver mineralization in oxides,
with 14.0 metres at 3,025 g/t Ag and 0.21 g/t Au starting from a down-hole depth of 136 metres.
This represents the best intercept to date on the new JAC Zone on a grade-thickness basis.
The hole also intersected the all-time highest-grade silver intercept recorded on the Diablillos
project, with 32,481 g/t Ag and 0.74 g/t Au over 1.0 metre.
This shallow oxide-hosted mineralization is located in a band approximately 50 metres north of
the "main trend" of silver mineralisation in the JAC Zone and appears to be in a separate zone
of high-grade silver mineralisation.
Drilling results received so far indicate that there are three distinct, parallel zones of silver
mineralisation within the JAC Zone , with the recently intersected "north zone" hosting very
high-grade silver.
The latest assay result highlights are summarized in Table 1 below.
Table 1 – Diablillos Drill Result Highlights in JAC Zone
(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
DDH-23-001A 69.3 85.0 Oxides 15.7 105.2 - 105.2
DDH-23-004 109.0 136.0 Oxides 27.0 60.5 0.26 81.8
DDH-23-004 136.0 150.0 Oxides 14.0 3,024.5 0.21 3,041.7
DDH-23-004 Includes 138.0 139.0 Oxides 1.0 32,480.5 0.74 32,541.1
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 based on 81.9(Ag):1(Au) calculated using long-term prices of US$25.00/oz Ag and US$1,750/oz Au, and 73.5%
process recovery for Ag, and 86.0% proces s recovery for Au as demonstrated in the Company’s Preliminary Economic
Assessment in respect of Diablillos dated January 13, 2022, using formula: AgEq g/t = Ag g/t + Au g/t x (Gold
Price/Silver Price) x (Gold Recovery/Silver Recovery).
John Miniotis, President and CEO, commented, “World-class deposits consistently generate world-class
results, which is what we believe we’ve been encountering at the new JAC zone. The high-grade JAC
zone exemplifies the exploration potential that remains at the Diablillos project, and we are incredibly
excited to be delineating a brand-new, near-surface, high-grade silver zone, which continues to remain
open in multiple directions.”
Dave O’Connor, Chief Geologist, commented, “While we have recently announced several spectacular
intercepts from the new JAC target, hole DDH 23-004 is in a class of its own. This remarkable near-
surface intercept, which encountered 14m of over 3,000 g/t Ag, in oxides, is located in a separate zone
north of the “main” JAC mineralized zone, demonstrating potential for additional high-grade Mineral
Resources. Drilling to date has shown that there are at least three parallel zones of silver mineralisation
within the JAC zone, with the highest results received so far being from the newly drilled "north zone"
which we plan to drill systematically. This new high-grade zone is expected to augment the grade and
size of the Mineral Resource estimate planned at the end of the Phase III drill program.”
Exploration Update
Drilling activity at Diablillos remains focused on the recently discovered JAC zone which is located several
hundred metres 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, the Company has completed approximately 13,700 metres of drilling, in 69 holes, as part of the
22,000-metre Phase III program. Drilling results to date, combined with interpretation of magnetics,
suggest that the new JAC zone remains open in multiple directions.
Additional exploration targets, generated by the recently completed detailed ground magnetic survey,
have been identified to the southwest of the Oculto MRE. Some of these targets are expected to be drilled
following the systematic drilling of the JAC Zone.
At the La Coipita project, drilling is progressing with the hole currently at a down-hole depth of
approximately 500 metres. The deep hole, with a planned depth of 1,300 m, is targeting the anticipated
higher-grade zone of the porphyry system intercepted in hole DDHC 22-002.
Figure 1 – Plan View of Announced Drill Holes in JAC Zone
Figures 2 displays a long-section of the latest drill results from the JAC target, located to the southwest
of the main Oculto deposit at Diablillos.
Figure 2 – Long Section Through Newly Announced Drill Holes in JAC Zone
Figure 3 shows intense chlorargyrite (silver chloride) mineralisation, which is the abundant silver-grey
mineral covering almost the entire image below. The sample of drill core is from the 1.0 metre interval
(138.0 – 139.0 metres down hole) in hole DDH 23-004 which assayed 32,481 g/t Ag and 0.74 g/t Au.
Figure 3 – Chlorargyrite Mineralization from the Bonanza-Grade Silver Intercept in DDH 23-004
Note: The photo is a selective sample and not indicative of mineralization throughout hole DDH 23-004.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 23-001A E719524 N7198691 4,155 0 -60 205
DDH 23-004 E719751 N7198874 4,175 0 -60 175
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