AbraSilver Reports 155 Metres at 289 g/t AgEq (4.1 g/t AuEq) in Another Stellar Intercept at Diablillos Latest High-Grade Silver-Gold Intercept in the Tesoro Zone Includes 30m at 609 g/t AgEq (8.70 g/t AuEq)
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Reports 155 Metres at 289 g/t AgEq (4.1 g/t AuEq) in Another Stellar Intercept
at Diablillos
Latest High-Grade Silver-Gold Intercept in the Tesoro Zone Includes 30m at 609 g/t AgEq (8.70 g/t AuEq)
Toronto – August 22, 2022: AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF)
("AbraSilver" or the “Company”) is very pleased to announce new assay results from four diamond drill
holes from the Phase II program on the Company’s wholly-owned Diablillos property in Salta Province,
Argentina (“Diablillos” or the “Project”).
Wide zones of high-grade mineralization were encountered in all four holes. Hole DDH 22-037 was an
in-fill hole drilled vertically in the Tesoro zone and contains the thickest, high-grade silver-gold intercept
ever encountered on the Project. Key takeaways include:
Hole DDH 22-037 intersected 155 metres at 289 g/t AgEq (4.1 g/t AuEq – comprised of 185 g/t
Ag and 1.48 g/t Au) in oxides starting at a down-hole depth of only 71 metres . The hole
included a 30 metre interval grading 609 g/t AgEq (8.70 g/t AuEq – comprised of 238 g/t Ag &
5.30 g/t Au);
Hole DDH 22-026 was a step-out hole in the Oculto NorthEast zone, located well beyond the
conceptual open pit boundary, and intersected several zones of high-grade gold mineralization,
including 37.5 metres at 187 g/t AgEq (2.7 g/t AuEq – comprised of 2.56 g/t Au and 8 g/t Ag)
John Miniotis, President and CEO, commented, “Over the past month alone, we have announced two
holes from our Tesoro zone for which the mineralized intercepts rank among the best in the world over
the past two years, in addition to discovering a brand new zone in the Southwest located over 500 metres
beyond the conceptual open pit boundary. By all measures, our 20,000-metre Phase II program has
been a resounding success, which we expect will result in a significant increase in the Mineral Resource
estimate to be announced later this year”.
The latest assay result highlights are summarized in Table 1 and Table 2 below.
Table 1 – Diablillos Hole DDH 22-037
Drill Hole
From
(m)
To
(m) Type
Interval
(m)
Ag
g/t
Au
g/t
AgEq1
g/t
AuEq1
g/t
DDH-22-037 71 226 Oxides 155.0 185.5 1.48 289.1 4.13
DDH-22-037 Includes 167 197 Oxides 30.0 238.3 5.30 609.3 8.70
DDH-22-037 Includes 178 191 Oxides 13.0 158.3 8.10 725.3 10.36
Dave O’Connor, Chief Geologist, commented, “We are very pleased with the latest world-class silver and
gold intercepts reported from the Tesoro zone, which further demonstrates the excellent upside potential
of this high-grade zone. Importantly, each of the other three holes reported today also encountered robust
grades and thicknesses which continue to add to our knowledge of the mineralized structures in the
Northeast zone, where numerous mineralized breccia zones extend well beyond the previously
contemplated open pit boundary.”
Table 2 – Diablillos Other 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-22-025 120 123 Oxides 3.0 65.2 0.01 65.9 0.94
DDH-22-025 139 148 Oxides 9.0 49.0 0.32 71.4 1.02
DDH-22-025 150 151 Oxides 1.0 344.4 0.58 385.0 5.50
DDH-22-025 183 207 Oxides 24.0 50.9 1.85 180.4 2.58
DDH-22-025 210 213 Oxides 3.0 24.6 0.96 91.8 1.31
DDH-22-025 215 218 Oxides 3.0 28.6 1.05 102.1 1.46
DDH-22-025 226 228 Oxides 2.0 28.7 2.18 181.3 2.59
DDH-22-025 232 246 Oxides 14.0 24.0 1.36 119.2 1.70
DDH-22-025 263 276 Oxides 13.0 19.1 1.33 112.2 1.60
DDH-22-025 288 292.5 Oxides 4.5 19.6 5.25 387.1 5.53
DDH-22-026 148.5 156 Oxides 7.5 171.2 0.96 238.4 3.41
DDH-22-026 163 167 Oxides 4.0 44.1 2.39 211.4 3.02
DDH-22-026 205 207.5 Oxides 2.5 54.5 1.11 132.2 1.89
DDH-22-026 228.5 243 Oxides 14.5 39.4 3.81 306.1 4.37
DDH-22-026 Includes 235 243 Oxides 8.0 40.2 5.20 404.2 5.77
DDH-22-026 253 271.5 Oxides 18.5 35.3 1.71 155.0 2.21
DDH-22-026 295 332.5 Oxides 37.5 8.1 2.56 187.3 2.68
DDH-22-026 Includes 323.5 332.4 Oxides 9.0 4.4 3.40 242.4 3.46
DDH-22-028 62.5 106 Oxides 43.5 114.6 0.15 125.1 1.77
DDH-22-028 121 138 Oxides 17.0 31.5 0.35 56.0 0.80
DDH-22-028 157 159 Oxides 2.0 28.6 0.59 69.9 1.00
DDH-22-028 162 177 Oxides 15.0 24.9 0.60 66.9 0.96
DDH-22-028 184 188 Oxides 4.0 36.5 2.38 203.1 2.90
DDH-22-028 191 193 Oxides 2.0 12.1 1.24 98.9 1.41
DDH-22-028 199 210 Oxides 11.0 35.1 2.32 197.5 2.82
DDH-22-028 248.5 250 Oxides 1.5 28.2 0.93 93.3 1.33
DDH-22-028 253 255 Oxides 2.0 35.6 1.71 155.3 2.22
DDH-22-028 261 264 Oxides 3.0 36.5 2.27 195.4 2.79
DDH-22-028 268 274 Oxides 6.0 28.2 1.07 103.1 1.47
DDH-22-028 285.5 290 Oxides 4.5 20.2 1.88 151.8 2.17
DDH-22-028 292 310 Transition 18.0 28.5 1.38 125.1 1.79
DDH-22-028 314.5 317 Sulphides 2.5 8.8 1.17 90.7 1.30
DDH-22-028 349 350 Sulphides 1.0 26.5 3.33 259.6 3.71
DDH-22-028 360 361 Sulphides 1.0 62.1 5.56 451.3 6.45
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 & AuEq calculations for reported drill results are based on USD $1,750/oz 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 – Oculto Plan View of Drill Results
Figure 2 below highlights the Oculto mineralised system which is now known to extend well beyond the
conceptual open pit and is open for at least two kilometres along strike. Drilling is continuing both to the
northeast and southwest as well as laterally, demonstrating increasing tonnage potential of the system.
Figure 2 – Long-Section of Drill Results
Note: Results of hole DDH 22-019 in the Southwest zone were previously reported on Aug. 3, 2022 and the hole is included for perspective.
Discussion of Drill Hole Results
Holes DDH 22-025 and DDH 22-026 were step-out holes drilled in the Oculto NorthEast zone, located
well outside of the conceptual open pit boundary. Both holes intersected high-grade gold mineralization
in what is interpreted as being an enrichment zone at the intersection of the North and West breccias.
Hole DDH 22-025 intersected several well-mineralized zones throughout the hole, including 24 metres
at 51 g/t Ag and 1.85 g/t Au in oxides from a downhole depth of 232 metres. Hole DDH 22-026 also
encountered widespread gold mineralization throughout the hole, with the highlight interval being 37.5
metres at 8.1g/t Ag and 2.56 g/t Au from 295 to 332.5 metres.
Hole DDH 22-028 was drilled on the margin of the conceptual open pit outline to test for extensions
continuing beyond the pit towards the northeast. The hole successfully intersected shallow mineralization
in oxides, with 43.5 metres at 114.6 g/t Ag and 0.15 g/t Au starting from a downhole depth of only
62.5 metres. Importantly, high-grade gold mineralization was also encountered in the hole starting at a
downhole depth of 184 metres, located outside of the conceptual open pit boundary and continuing
beneath the oxides into the underlying deeper sulphide mineralization.
Hole DDH 22-037 was a vertical hole drilled to support the expansion of the Mineral Resources in the
high-grade Tesoro zone to be classified in the Measured category. The hole intersected the thickest,
high-grade interval ever encountered on the Project, consisting of 155 metres at 185.5 g/t Ag and 1.48
g/t Au, starting from a vertical depth of only 71 metres. The intersection included several high-grade
zones, such as 30 metres at 238.3g/t Ag and 5.30g/t Au, and 13 metres at 158 g/t Ag and 8.10 g/t
Au. Hole DDH 22-037 will also be used for metallurgical testwork and was drilled vertically in order to
get a true representation of the characteristics of mineralisation with depth.
Figure 3 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-026
Figure 4 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-028
Figure 5 – Cross Section (Looking Northeast) with Highlighted Intercepts in Hole DDH 22-037
Diablillos Drill Program Update
The Company’s Phase II, 20,000-metre drill program has been successfully completed, having delivered
numerous positive results throughout the past year. At this time, assay results for the final 7 holes from
this campaign remain pending and are expected to be received over the next few weeks. Once all assay
results from the Phase II program are received, the Company will prepare and publish an updated Mineral
Resource estimate, which is anticipated to be completed later this year. The best results to date from
the Phase II program are summarized in Table 3, below.
Table 3 – Diablillos Project – Top Phase II Drill Intercepts Reported to Date
Hole From (m) To (m) Zone Interval
(m)
Ag (g/t) Au (g/t) AgEq1
(g/t)
AuEq1
(g/t)
22-037 71.0 226.0 Tesoro 155.0 185.5 1.48 289.1 4.13
22-004 131.0 271.0 Tesoro 140.0 219.0 1.17 300.9 4.30
21-038 112.0 221.3 Tesoro 109.3 176.8 1.53 283.9 4.06
22-019 89.0 176.0 Southwest 87.0 346.0 0.15 356.5 5.09
22-005 84.0 151.5 Oculto SW 67.5 157.4 1.95 293.9 4.20
21-067 242.0 308.0 Oculto NE 66.0 57.0 1.90 190.0 2.71
21-045 108.0 172.5 Oculto SW 64.5 125.6 0.61 171.4 2.28
21-064 86.0 147.0 Oculto NE 61.0 140.2 0.71 189.9 2.71
21-068 89.0 146.0 Oculto SW 57.0 108.0 1.47 210.9 3.01
21-022 192.0 245.0 Oculto NE 53.0 33.3 2.49 207.6 2.97
21-015 131.5 157.5 Tesoro 26.0 2,357.6 0.36 2,382.8 34.04
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.
The Company’s 15,000-metre Phase III exploration program is well underway and is designed to further
expand Mineral Resources across the Diablillos property. The size of the drill program may be expanded
at a later date.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth (m)
DDH 22-025 E720554 N7199854 4,272 180 -60 338
DDH 22-026 E720628 N7199866 4,282 180 -60 336.5
DDH 22-028 E720400 N7199622 4,281 0 -60 377
DDH 22-037 E720200 N7199377 4,269 0 -90 226
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 100,000 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 4 below:
Table 4 - 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