AbraSilver Intersects Highest Grade Silver Intercept of All-Time at Diablillos: 12,581 g/t Silver and 44.5 g/t Gold (16,225 g/t AgEq) over 1 Metre Record-Grade Intercept Located at New JAC Target, Part of Broader Intercept of 2,498 g/t AgEq over 8.5m
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AbraSilver Intersects Highest Grade Silver Intercept of All-Time at Diablillos: 12,581 g/t
Silver and 44.5 g/t Gold (16,225 g/t AgEq) over 1 Metre
Record-Grade Intercept Located at New JAC Target, Part of Broader Intercept of 2,498 g/t AgEq over 8.5m
Toronto – January 17, 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”).
Key takeaways from the latest drill results include:
Drill holes, DDH 22-075 and DD 22-076 were drilled at the new JAC target. Hole DDH 22-076
encountered the all-time highest-grade silver intercept recorded on the Diablillos project
to date.
Hole DDH 22-076 encountered two high-grade silver and gold zones at the JAC target:
o 22m at 477 g/t Ag and 0.20 g/t Au in oxides from 147.0m downhole; and
o 8.5m at 1,953 g/t Ag, 6.66 g/t Au and 0.43% Cu in an oxide-sulphide transition zone
from 169.0m downhole. This interval includes the record-grade silver intercept of 1m at
12,581 g/t Ag and 44.5 g/t Au.
Hole DDH 22-075 intersected a broad zone of high-grade silver mineralization in oxides of 16m
at 604 g/t Ag and 0.82 g/t Au from 151.0m, including 5m at 1,638 g/t Ag and 2.58 g/t Au. This
hole also encountered high-grade copper in the sulphide zone beneath with 4.5m at 1.97% Cu
from 167.0m. The copper content suggests that this may be part of a vertical or sub-vertical
feeder structure in the JAC target.
The discovery hole at the JAC target was announced in August 2022. Since then, there have
been multiple high-grade intercepts drilled at relatively shallow depths and the extent and grade
of the mineralization have exceeded our expectations. Results to date from 24 drill holes
combined with interpretation of magnetics suggests that the JAC target has substantial size
potential. The Company’s top priority is to drill off the JAC target to gain an understanding of the
geometry of the mineralization and to fully define a mineral resource estimate.
Table 1 – Diablillos Drill Results in Southwest 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
Cu
%
AgEq1
g/t
DDH-22-072 92.0 122 Oxides 30.0 73.2 0.12 - 83.0
DDH-22-073 113.0 119.0 Oxides 6.0 34.3 - - 34.3
DDH-22-073 128.0 136.0 Oxides 8.0 51.1 0.02 - 52.7
DDH-22-073 148.5 153.5 Sulphides 5.0 27.8 - 0.22 27.8
DDH-22-075 76.0 85.0 Oxides 9.0 63.6 0.01 - 64.4
DDH-22-075 129.0 134.0 Oxides 5.0 113.1 0.54 - 157.3
DDH-22-075 151.0 167.0 Oxides 16.0 604.4 0.82 - 671.5
DDH-22-075 Includes 156.0 161.0 Oxides 5.0 1,637.9 2.58 - 1,849.2
DDH-22-075 167.0 171.5 Sulphides 4.5 6.2 - 1.97 6.2
DDH-22-076 95.0 108.0 Oxides 13.0 30.1 - - 30.1
DDH-22-076 147.0 169.0 Oxides 22.0 476.8 0.20 - 493.2
DDH-22-076 169.0 177.5 Transition 8.5 1,952.8 6.66 0.43 2,498.3
DDH-22-076 Includes 169.0 170.0 Transition 1.0 12,581.4 44.49 0.96 16,225.3
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% process 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). No value is ascribed to copper grades in the AgEq calculations.
John Miniotis, President and CEO, commented, “These latest exceptional drill results from the JAC target
underscore the substantial, silver-dominant resource potential of this target and also the potential for
other new silver-gold discoveries at Diablillos. At the JAC target, we are defining what appears to be a
major new high-grade discovery which is ideally situated near-surface, in flat-lying topography. Drilling
has yet to define the limits of the mineralization at the JAC target and we expect that this target will
significantly increase the silver resources on the Diablillos project. Drilling continues and the Company
will expand the ongoing Phase III drill program as long as we continue to intercept high-grade silver and
gold mineralization.”
Dave O’Connor, Chief Geologist, commented, “Drilling at the new JAC target continues to encounter
spectacular grades of silver mineralization at shallow depths. Importantly, holes DDH 22-075 and DDH
22-076 also intersected copper sulphide mineralization with associated high-grade gold and silver at the
base of the oxide zone. We are continuing to gain a more detailed understanding of these high-grade
feeder structures up which mineralisation migrated into the JAC target from an underlying porphyry
intrusion. Hole 22-076, reaffirms our view, that the new JAC target has significant resource growth
potential, and that there is much more remaining to be discovered at Diablillos.”
Figure 1 – Diablillos Plan View of Recent Drill Holes & Exploration Targets
Figure 2 below 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 Target
.
Exploration Update
Drilling is ongoing with two diamond drill rigs focused on understanding the extent and orientation of silver
and gold mineralization at the JAC target. To date, assay results have been reported for 24 drill holes at
the JAC target, which coincides with a NE-SW trending magnetic anomaly (Figure 3), and there are
assays pending for an additional 19 drill holes. These drill holes span 700m along strike and widths up
to 150m (Figure 1).
Mineralization at the JAC target is open in multiple directions and at least 20 additional drill holes are
planned. Additional drilling may be required if mineralization remains open at the completion of these
additional holes, a scenario that appears increasingly likely.
The JAC zone appears to be parallel to the Main Breccia at Oculto and may be an extension of it towards
the Southwest. There is currently a drilling gap of approximately 150m between the East-Northeast
extension of the JAC zone and the Oculto Zone that will need to be infilled to understand the relation
between the two zones and to test for the additional mineralization between the two. The JAC Zone is a
blind target as it buried under unconsolidated colluvial material and does not have a physical surface
geological expression. It is interpreted as being oriented West-Southwest to East-Northeast based on a
coincident magnetic low, interpreted to have formed from the destruction of magnetic minerals by the
high-sulphidation hydrothermal fluids. A preliminary interpretation of the geometry of the JAC zone
suggests both horizontal high-grade components as well as an underlying feeder structure. Additional
results from the current drilling and additional drilling testing the edges of this mineralization will be
needed to confirm this interpretation and to determine the extents of the mineralization.
Of significant geological interest is an additional parallel low magnetic zone to the South-Southeast of
JAC which has not been drilled to date and has potential to host additional mineralization (Figure 3).
Figure 3 – Reduced to Pole Magnetic Map of Oculto and the JAC Target
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 22-072 E719575 N7198676 4,159 0 -60 176
DDH 22-073 E719525 N7198640 4,153 0 -60 164
DDH 22-074 E719500 N7198615 4,152 0 -60 170
DDH 22-075 E719649 N7198734 4,165 0 -60 200
DDH 22-076 E719700 N7198754 4,168 0 -60 209
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