AbraSilver Intersects Broad Zones of Near- Surface Gold Mineralization at Cerro Viejo Target on Diablillos Property Shallow Oxide-Hosted Gold Confirmed 4 km North of Oculto; Copper Intersected at Depth
AbraSilver Intersects Broad Zones of Near-
Surface Gold Mineralization at Cerro Viejo
Target on Diablillos Property
Shallow Oxide-Hosted Gold Confirmed 4 km North of Oculto;
Copper Intersected at Depth
Toronto, Ontario--(Newsfile Corp. - September 2, 2026) -
AbraSilver Resource Corp. (TSX: ABRA)
(OTCQX: ABBRF)
("AbraSilver" or the "Company") is pleased to report new assay results from five
holes completed at the Cerro Viejo target as part of the ongoing Phase VI exploration drill program at its
wholly-owned Diablillos project in Argentina (the "Project").
Cerro Viejo is located approximately 4 km north of the Oculto deposit, where surface channel sampling
and earlier reconnaissance drilling identified gold mineralization associated with extensive east-west
trending silicified structures extending for approximately 1.5 km. Initial reconnaissance drilling at Cerro
Viejo conducted in 2024 returned 36.0 metres ("m") grading 1.91 g/t gold from a downhole depth of only
87 m in hole DDH 24-056, including 5.0 m grading 7.22 g/t gold (see the Company's news release
dated
January 27, 2025
). Follow-up drilling has now confirmed broad zones of shallow, oxide-hosted
gold mineralization beginning close to surface, together with copper mineralization in sulphides at depth.
These results further highlight the exploration potential of the Diablillos property beyond the Mineral
Resources and Mineral Reserves that underpin the recently completed Definitive Feasibility Study
("DFS").
Highlight Drill Results:
Widths are reported as drilled; true widths are not yet known.
DDH 26-037:
27.0 m of 0.58 g/t gold and 4.6 g/t silver
from a downhole depth of only
23
metres,
within the oxide zone
DDH 26-043: 7.0 m of 0.53% copper
from a downhole
depth of 97 m
, confirming sulphide
copper mineralization beneath the gold-bearing oxide zone
DDH 26-047: 32.0 m of 0.29 g/t gold and 2.8 g/t silver
from a
downhole depth of only 9 m
,
followed by
14.0 m of 1.50 g/t gold and 6.2 g/t silver
from 54 m, both within the oxide zone
DDH 26-048:
21.0 m grading 0.12 g/t gold and 0.10% copper
from a downhole depth of 82 m,
and 18.0 m grading 0.13 g/t gold and 0.06% copper
from 212 m
Table 1 – Summary of Key Drill Intercepts
Drill Hole
Area
From
(m)
To
(m)
Type
Interval
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
DDH-26-037
Cerro Viejo
23.0
50.0
Oxides
27.0
4.6
0.58
-
DDH-26-043
Cerro Viejo
97.0
104.0
Sulphides
7.0
-
-
0.53
112.0
117.0
Sulphides
5.0
-
-
0.15
187.0
190.0
Sulphides
3.0
12.5
0.17
0.57
DDH-26-046
Cerro Viejo
82.0
97.5
Sulphides
15.5
-
-
0.10
DDH-26-047
Cerro Viejo
9.0
41.0
Oxides
32.0
2.8
0.29
-
54.0
68.0
Oxides
14.0
6.2
1.50
-
DDH-26-048
Cerro Viejo
37.5
50.5
Sulphides
13.0
-
-
0.10
81.5
102.5
Sulphides
21.0
1.9
0.12
0.10
212.0
230.0
Sulphides
18.0
1.5
0.13
0.06
Note: All results in this news release are rounded. Assays are uncut & undiluted. Widths are drilled widths, not true widths.
True widths are
unknown
John Miniotis, President and CEO, commented, "These initial results from Cerro Viejo are encouraging,
with broad zones of gold mineralization starting close to surface within the oxide zone.
With the Diablillos
DFS now complete and the Project advancing toward a construction decision, our exploration efforts
have returned to unlocking the longer-term growth potential, and Cerro Viejo is emerging as an exciting
target within the broader district."
Dave O'Connor, Chief Geologist, commented, "What stands out from these results is the continuity of
shallow gold mineralization, with mineralization beginning essentially at surface in several holes. The
copper mineralization encountered beneath the oxide zone is also consistent with the upper levels of the
larger porphyry system interpreted to underlie this area. Continued drilling will help us better define the
scale and potential of this emerging target."
Figure 1 – Plan View of Cerro Viejo Drill Results & Surface Sample Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11792/312460_4e3c36ac3417d980_001full.jpg
Figure 2 – Cerro Viejo Cross-Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11792/312460_4e3c36ac3417d980_002full.jpg
Additional Details on Drill Results
Cerro Viejo is one of several new exploration areas being systematically tested within the Diablillos
property and is located approximately 4 km north of the Oculto deposit. Gold mineralization at Cerro
Viejo is hosted within extensive, east-west trending silicified structures that have been traced at surface
within a band approximately 0.5 kilometres wide over a strike length of approximately 1.5 kilometres.
The mineralization occurs in an epithermal environment interpreted to represent the upper levels of a
major porphyry system.
Initial reconnaissance drilling at Cerro Viejo in 2024 intersected widespread gold mineralization,
including 36.0 m grading 1.91 g/t gold from a downhole depth of only 87 m in hole DDH 24-056, with a
higher-grade interval of 5.0 m grading 7.22 g/t gold. Surface chip and channel samples from the
associated siliceous outcrops returned gold values including 16.36 g/t, 12.14 g/t, 3.2 g/t and 2.3 g/t gold.
Together these results outlined a large zone with potential for shallow gold mineralization, which is the
target of the current drill program. For further details, see the Company's news release dated
January
27, 2025
.
The mineralized structures occur within zones of silicification in granitoid rocks that host the underlying
porphyry system. The gold-bearing silicification includes areas of vuggy silica and brecciation with
alunite-jarosite alteration and appears to be steeply dipping. Oxidation in the area is shallow, and
preliminary mineralogical work indicates that gold associated with sulphides (pyrite) largely occurs as
fine native metal. Metallurgical testwork has not been completed on mineralization from Cerro Viejo.
Cerro Viejo – Near-Surface Oxide Gold Zone (Holes DDH 26-037 and DDH 26-047)
Holes DDH 26-037 and DDH 26-047 both intersected broad zones of gold mineralization within the
oxide zone from close to surface, with mineralization in hole DDH 26-047 commencing at a downhole
depth of only 9 m. Oxidation across the area tested to date is shallow, and the mineralization intersected
in these holes is oxide-hosted throughout.
Cerro Viejo – Copper Mineralization at Depth (Holes DDH 26-043 and DDH 26-048)
Copper values in holes DDH 26-043 and DDH 26-048 occur within sulphides below the oxide zone and
are interpreted to represent the deeper parts of steeply dipping mineralized structures.
Hole DDH 26-
048 is located approximately 500 m northeast of hole DDH 26-043, indicating that mineralization of this
style is developed across a substantial area of the property.
Phase VI Exploration Update:
A total of approximately 12,000 m have been completed in 54 diamond drill holes under the Phase VI
exploration program since it commenced in January 2026, of which approximately 1,000 m have been
drilled at Cerro Viejo. Two drill rigs remain active on the Project, and a third drill rig is expected to be
mobilized
later in September.
Drilling continues to test extensions of the known mineralization at Oculto West, Oculto East and along
the JAC–Oculto trend, in parallel with first-pass and follow-up drilling on new targets including Cerro
Viejo and the adjacent Condoryacu property, where initial drilling returned 72 m grading 18.7 g/t gold,
117 g/t silver and 2.06% copper from surface (see the Company's news release dated
March 30, 2026
).
The Company has recently completed a drone-based magnetic survey at Condoryacu, which shows a
distinct north-south character that may reflect structures controlling mineralization. The results will be
used to guide follow-up drilling at Condoryacu, which is expected to commence shortly.
The Company is currently conducting a CSAMT survey across the broader Oculto and JAC areas and
the intervening trend, with the objective of identifying additional drill targets for the balance of the Phase
VI program and for future exploration. The survey comprises northwest-southeast lines, approximately
perpendicular to the main structural trends of mineralization, covering an area of 3.5 km northeast-
southwest by 2 km northwest-southeast. A historical CSAMT survey over the area showed a strong
vertical contrast in resistivity, interpreted to reflect an alteration zone associated with the main feeder
system to the Oculto mineralization.
Additional assay results from the ongoing Phase VI drill program are pending and will be released as
they become available.
Collar Data
Hole Number
UTM Coordinates
Elevation
Azimuth
Dip
Depth (m)
Area
DDH 26-037
722233
7202291
4,192
180
-60
119
Cerro Viejo
DDH 26-043
722462
7202066
4,157
178
-60
194
Cerro Viejo
DDH 26-046
722328
7202269
4,176
180
-60
150
Cerro Viejo
DDH 26-047
722179
7202302
4,202
180
-60
122
Cerro Viejo
DDH 26-048
720171
7199283
4,254
180
-60
323
Cerro Viejo
About Diablillos
The Diablillos property is located within the Puna region of Argentina, in the southern part of Salta
Province along the border with Catamarca Province, approximately 160 km southwest of the city of Salta
and 375 km northwest of the city of Catamarca. AbraSilver acquired the property in 2016, which
comprises 15 contiguous and overlapping mineral concessions with excellent year-round road access.
Exploration to date has outlined multiple occurrences of silver-gold oxide mineralization at Oculto, JAC,
Laderas, and Fantasma, located within a 500 m to 1.5 km distance surrounding the Oculto/JAC
epicentre. To date, over 170,000 metres have been drilled on the property, which continues to
demonstrate the strong growth potential of shallow, oxide-hosted silver and gold resources.
In addition, a
large porphyry complex is centered approximately 4 km northeast of Oculto which includes outcropping
porphyry intrusions within a major zone of alteration and associated gold rich epithermal mineralization.
Comparatively nearby examples of high sulphidation epithermal deposits include: La Coipa (Chile);
Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo
del Sol (Argentina). The most recent tank and heap leach Mineral Resource estimate for Diablillos is
shown in Table 2.
Following completion of the DFS in June 2026, the Project also hosts Proven and
Probable Mineral Reserves of 77.9 Mt grading 146 g/t silver equivalent ("AgEq"), containing 184 Moz of
silver and 1.8 Moz of gold (366 Moz AgEq). For additional details, please refer to the "NI 43-101 Mineral
Resource Estimate, Diablillos Silver-Gold Project" dated June 19, 2026, available on SEDAR+ and the
Company's website.
Table 2 - Diablillos Mineral Resource Estimate – As of April 30, 2026
Zone
Category
Tonnes
(000 t)
Ag
(g/t)
Au
(g/t)
AgEq
(g/t)
Contained
Ag
(000 Oz)
Contained
Au
(000 Oz )
Contained
AgEq
(000 Oz)
Tank
Leach
Oxides
Measured
41,042
100
0.68
159
131,668
896
209,281
Indicated
60,978
41
0.58
92
81,060
1,143
180,078
Measured &
102,021
65
0.62
119
212,728
2,039
389,359
Indicated
Inferred
14,400
25
0.57
74
11,468
262
34,187
Heap
Leach
Oxides
Measured
25,469
13
0.09
19
10,997
76
15,425
Indicated
104,491
7
0.13
15
24,328
428
49,342
Measured &
129,960
8
0.12
16
35,325
503
64,767
Indicated
Inferred
34,947
6
0.14
14
6,939
158
16,153
Total
Oxides
Measured
66,512
67
0.45
105
142,665
971
224,706
Indicated
165,469
20
0.30
43
105,388
1,570
229,420
Measured &
231,981
33
0.34
61
248,053
2,542
454,127
Indicated
Inferred
49,347
12
0.26
32
18,406
420
50,340
Footnotes for Tank Leach Resource:
1
.
Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2
.
The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver
Recovery).
3
.
The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized
zones defined by wireframed solids, which are a combination of lithology and alteration domains.
The 1m composite grades were capped
where appropriate.
4
.
The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 34.50/oz Ag price, US $3,200/oz Au price,
86.6% process recovery for Au, and 80.9% process recovery for Ag, for the tank leaching and 74.3% process recovery for Au, and
46.8% process recovery for Ag, for the secondary heap leaching.
5
.
Open pit optimization was constrained using a dual-process approach, with tank leaching as the primary process (total opex of US$32.30/t)
and heap leaching as the secondary process (total opex of US$7.00/t).
6
.
The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7
.
A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where,
Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price
(US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t)
+ Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]
8
.
The Mineral Resource is sub-horizontal with sub-vertical feeders and has a reasonable prospect for eventual economic extraction by open
pit methods.
9
.
In-situ bulk densities were assigned to each model domain, according to samples averages for each lithology domain, separated by
alteration zones and subset by oxidation.
10
.
All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
11
.
Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
12
.
The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), an INSA Consultora Managing Principal Geologist,
and an Independent Qualified Person under NI 43-101.
13
.
Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could
materially affect the potential development of the Mineral Resource.
14
.
All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate
significant figures.
Footnotes for Heap Leach Resource:
1
.
Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2
.
The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver
Recovery).
3
.
The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized
zones defined by wireframed solids, which are a combination of lithology and alteration domains.
The 1m composite grades were capped
where appropriate.
4
.
The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 34.50/oz Ag price, US $3,200/oz Au price,
86.6% process recovery for Au, and 80.9% process recovery for Ag, for the primary process tank leaching and 74.3% process recovery
for Au, and 46.8% process recovery for Ag, for the secondary process heap leaching.
5
.
Open pit optimization was constrained using a dual-process approach, with tank leaching as the primary process (total opex of US$32.30/t)
and heap leaching as the secondary process (total opex of US$7.00/t).
6
.
The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7
.
A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where,
Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price
(US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t)
+ Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income].
8
.
The Mineral Resource is sub-horizontal with sub-vertical feeders and a reasonable prospect for eventual economic extraction by open pit
methods.
9
.
In-situ bulk density was assigned to each model domain, according to samples averages for each lithology domain, separated by alteration
zones and subset by oxidation.
10
.
All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
11
.
Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
12
.
The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), an INSA Consultora Managing Principal Geologist,
and an Independent Qualified Person under NI 43-101.
13
.
Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could
materially affect the potential development of the Mineral Resource.
14
.
All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate
significant figures.
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
best 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 at site; these include blanks and certified reference materials as well as
duplicate core samples which are collected in order to assess sampling precision and reproducibility.
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 ASA (Alex Stewart Argentina) preparation laboratory in Salta, where
they are prepared, then the pulp sachet is directly dispatched to its facility in Mendoza, Argentina, 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 re-analyzed 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 leading silver-gold development company focused on advancing its 100%-owned
Diablillos Project in the mining-friendly provinces of Salta and Catamarca, Argentina. The recently
completed Definitive Feasibility Study highlights Diablillos as a robust, high-margin, long-life precious
metals project with a strong production profile and substantial exploration upside.
In addition, the
Company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita
project, located in the San Juan province of Argentina. AbraSilver is listed on the TSX under the symbol
"ABRA" and in the U.S. on the OTCQX 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 X at
www.x.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.sedarplus.ca
.
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 nor its Regulation Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this news release
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312460