AbraSilver Intersects New High-Grade Feeder Structure in Southwest Zone at Diablillos; 871 g/t AgEq over 27m, and 522 g/t AgEq over 36m
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www.abrasilver.com
AbraSilver Intersects New High-Grade Feeder Structure in Southwest Zone at Diablillos;
871 g/t AgEq over 27m, and 522 g/t AgEq over 36m
Toronto – January 10, 2023: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF)
(“AbraSilver” or the “Company”) is very pleased to announce the discovery of a new high-grade feeder
structure at the recently discovered Southwest zone (JAC target), located several hundred metres
beyond the current Mineral Resource estimate on the main Oculto deposit at the Company’s Diablillos
project (“Diablillos” or the “Project”).
Hole DDH 22-067 encountered the highest-grade intercept to date, on a silver-equivalent basis, at
the JAC target, with 871 g/t AgEq over 27m in sulphide mineralization. That interval is located
immediately beneath a further high-grade oxide intercept grading 522 g/t AgEq over 36m.
Highlights and detailed results are shown below along with accompanying figures:
Hole DDH 22-067 intersected a new high-grade feeder structure at the JAC target and
encountered two separate high-grade zones:
o 36m at 463 g/t Ag and 0.71 g/t Au in oxides from 143.0m
o 27m at 745 g/t Ag, 1.54 g/t Au and 1.23% Cu in sulphides from 179.0m
The other four reported holes tested the margins of the high-grade silver mineralization at the JAC
target, with hole DDH 22-065 encountering 35m at 82 g/t Ag from a downhole depth of 83.0m
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-22-064 92.0 96.0 Oxides 4.0 57.9 - - 57.9
DDH-22-064 108.0 126.0 Oxides 18.0 80.4 - - 80.4
DDH-22-064 133.0 138.0 Oxides 5.0 77.8 - - 77.8
DDH-22-065 83.0 118.0 Oxides 35.0 82.0 - - 82.0
DDH-22-065 188.5 201.0 Sulphides 12.5 - - 0.75 n/a
DDH-22-066A 65.0 95.0 Oxides 30.0 52.5 - - 52.5
DDH-22-066A 102.0 123.0 Oxides 21.0 24.9 - - 24.9
DDH-22-066A 138.5 156.0 Transition 17.5 86.3 - - 86.3
DDH-22-067 129.0 136.0 Oxides 7.0 82.0 - - 82.0
DDH-22-067 143.0 179.0 Oxides 36.0 463.3 0.71 - 521.5
DDH-22-067 179.0 206.0 Sulphides 27.0 745.0 1.54 1.23 871.1
DDH-22-068 121.0 123.0 Oxides 2.0 32.5 - - 32.5
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, “The discovery of a high-grade feeder structure in the
JAC target represents another significant achievement for our ongoing Phase III exploration program.
The high silver grades over substantial widths reported in hole 22-067 highlight the significant blue-sky
potential of our recently discovered JAC target. We remain convinced, now more than ever, that
AbraSilver remains exceptionally well-positioned to unlock significant shareholder value in 2023 with
several near-term catalysts on the horizon, including: additional drill results; a maiden Mineral Resource
estimate on the JAC target; and a Pre-Feasibility Study on the entire Diablillos project, all expected to be
announced in H1/2023.”
Dave O’Connor, Chief Geologist, commented, “The exceptional grades encountered in hole 22-067
showcases the continuity of high-grade mineralization within our exciting JAC target. Intersecting a high-
grade feeder is of primary importance in building confidence in our geologic model and enhancing our
understanding of this new deposit. Our immediate exploration priority is to continue drill testing this high-
grade feeder structure while continuing to delineate other high-grade targets which were recently
identified by our latest ground magnetic survey.”
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 Southwest zone.
Figure 2 – Long Section Through Newly Announced Drill Holes in JAC Target
.
Exploration Update
Systematic grid drilling, at 25 and 50 metre spacing, of the JAC target continues to progress rapidly. To
date, assay results have been announced for a total of 19 holes in the JAC target, with all holes returning
silver mineralization at reasonably shallow depths. The limits of the JAC mineralised zone have yet to be
found and drilling is continuing to determine the length and width of the JAC target. A total of 43 holes
have now been drilled in this new zone, with assays pending for 24 holes.
The JAC target was discovered by drilling a linear magnetic anomaly interpreted, correctly, as resulting
from the introduction of mineralizing hydrothermal fluids. A new detailed ground magnetic survey was
recently completed by geophysical consultants, Quantec Geoscience Ltd. The figure below shows the
reduced to pole magnetic character of the Oculto area with numerous low magnetic signature zones in
the west and southwest portion of the plan marked in blue, including the JAC Zone which is the current
drill target. The low magnetic zones follow a conjugate set of linears, with the JAC Zone on a marked
east-northeast trending structure and other potential targets on west-northwest structures, including the
Fantasma target. In addition to the completion of grid drilling at the JAC target to outline an initial Mineral
Resource estimate, reconnaissance drilling is planned on other target areas to the west of Oculto,
including Fantasma, Alpaca and other targets as shown in Figures 1 and 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 22-064 E719550 N7198714 4,155 0 -60 167
DDH 22-065 E719599 N7198695 4,160 0 -60 215
DDH 22-066A E719701 N7198843 4,170 359 -59 200
DDH 22-067 E719866 N7198821 4,174 0 -60 218
DDH 22-068 E719818 N7198866 4,179 1 -58 167
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