AbraSilver Reports Multiple High-Grade Silver & Gold Intercepts Including 82 Metres at 4.1 g/t Gold-Equivalent (305 g/t Silver-Equivalent)
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Reports Multiple High-Grade Silver & Gold Intercepts Including 82 Metres at
4.1 g/t Gold-Equivalent (305 g/t Silver-Equivalent)
Key Highlights:
DDH 21-014 was drilled to test the north-eastern extension of the Oculto deposit and intersected
various broad high-grade intervals including: 77m at 202 g/t AgEq (2.70 g/t AuEq) from a depth
of 79m downhole, as well as a deeper interval of 65m at 217 g/t AgEq (2.89 g/t AuEq)
DDH 21-015 was drilled in the high-grade Tesoro zone and intersected a wide high-grade gold
intercept of 82m at 305 g/t AgEq (4.07 g/t AuEq) including 3m at 2,014 g/t AgEq (26.85 g/t AuEq)
Toronto - June 01, 2021: AbraSilver Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraSilver"
or the “Company”) is pleased to report continued high-grade drill results received from three additional
diamond drill holes completed on its wholly-owned Diablillos property in Salta Province, Argentina.
Table 1 – Drill Result Highlights (Intercepts greater than 2,000 gram-meter 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-21-013 98 101 Oxides 3.0 91.4 - 91.4 1.22
DDH-21-013 107 113.5 Oxides 6.5 28.4 - 28.4 0.38
DDH-21-013 144 178 Oxides 34.0 26.8 0.59 71.1 0.95
DDH-21-013 223 224 Oxides 1.0 19.5 4.18 333.0 4.44
DDH-21-013 236 269 Oxides 33.0 12.6 0.92 81.6 1.09
DDH-21-013 Including 236 240 Oxides 4.0 21.0 2.99 245.3 3.27
DDH-21-014 16 24 Oxides 8.0 8.4 1.55 124.7 1.66
DDH-21-014 79 156 Oxides 77.0 149.1 0.71 202.4 2.70
DDH-21-014 Including 91 98 Oxides 7.0 969.5 2.63 1,166.8 15.56
DDH-21-014 Including 79 103 Oxides 24.0 327.1 2.22 493.6 6.58
DDH-21-014 240 265 Oxides 25.0 46.1 0.30 68.6 0.91
DDH-21-014 271 274 Oxides 3.0 28.3 0.76 85.3 1.14
DDH-21-014 282 347 Oxides 65.0 15.9 2.68 216.9 2.89
DDH-21-014 Including 296 302 Oxides 6.0 17.0 6.25 485.8 6.48
DDH-21-014 Including 323 332 Oxides 9.0 25.5 6.51 513.8 6.85
DDH-21-014 Including 346 347 Oxides 1.0 38.9 20.47 1,574.2 20.99
DDH-21-015 98 100 Oxides 2.0 23.1 1.68 149.1 1.99
DDH-21-015 120 202 Oxides 82.0 102.9 2.70 305.4 4.07
DDH-21-015 Including 138 169 Oxides 31.0 71.0 3.08 302.0 4.03
DDH-21-015 Including 173 199 Oxides 26.0 140.0 4.79 499.3 6.66
DDH-21-015 Including 185 188 Oxides 3.0 249.7 23.52 2,013.7 26.85
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.
1 AgEq & AuEq calculations for reported drill results are based on USD $20.00/oz Ag, $1,500/oz Au and $3.00/lb Cu. The
calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal
prices. Refer to Technical Notes below for metallurgical recoveries assumed in the 2018 PEA study on Diablillos.
John Miniotis, President and CEO, commented, “We are thrilled by the exciting results that we continue
to receive from our Phase I exploration program. These latest results demonstrate the continuity of high-
grade silver and gold mineralisation in the Tesoro Zone, as well as the strong potential to add resources
in the Northeast gold zone, well beyond the existing open pit margin. We look forward to reporting more
assays in the coming weeks and announcing the updated resource estimate and PEA study in the third
quarter.”
David O’Connor, Chief Geologist, commented, “Now that we have completed the 15,000-meter Phase I
drilling program at Oculto on which the updated resource estimate will be based, we are very excited to
be proceeding with drilling other targets within the Diablillos area where previous exploration has shown
potential for additional gold dominant zones. Success in these peripheral areas would add substantially
to the resource base at Oculto and further improve the economics of the project considerably."
Figure 1 – Drill Hole Location Map and Proposed Drill Holes in the Oculto Zone
Discussion of Drill Hole Results
Hole DDH 21-013 was drilled to test the northeast mineralised zone several hundred meters beyond the
open pit margin. The hole intersected 33.0 meters of 0.92 g/t gold and 12.6 g/t silver (from 236 to 269
meters down hole depth), including 4 meters of 2.99 g/t gold and 21.0 g/t silver (from 236 to 240
meters). This hole demonstrates a mineralised structure that will be followed up as part of the Phase II
drill program.
Hole DDH 21-014 was drilled to test the north-eastern extension of the Oculto mineralised system. The
hole intersected substantial zones of high-grade oxide gold and silver mineralisation, with 77.0 meters
of 0.71 g/t gold and 149.1 g/t silver (from 79 to 156 meters), including 7.0 meters of 2.63 g/t gold and
970 g/t silver and (from 91 to 98 meters). A deeper zone of higher grade gold mineralisation with 65.0
meters of 2.68 g/t gold and 15.9 g/t silver occurs from 282.0 to 347.0 meters, which includes several
higher grade intercepts grading upto 1.0 meter of 20.47 g/t gold and 38.9 g/t silver . This hole shows
the continuation of high-grade gold dominant mineralisation extending north-east of the Tesoro Zone.
Hole DDH 21-015 was drilled in the Tesoro Zone and intersected high-grade gold and silver
mineralisation, with 82.0 meters of 2.75 g/t gold and 104.5 g/t silver (from 120 to 202 meters), including
26.0 meters of 4.79 g/t gold and 140 g/t silver. This hole shows an extension of gold rich mineralisation
towards the west and is expected to add to the enhanced grade estimate of the Tesoro Zone.
Figure 2 – Cross Section 8550 (Looking East) with Highlighted intercepts in Hole DDH 21-013
Figure 3 - Cross Section 8400 (Looking East) with Highlighted intercepts in Hole DDH 21-014
Figure 4 - Cross Section 8200 (Looking East) Highlighted Intercepts in Hole DDH 21-015
Exploration Program Update
To date the company has reported results from a total of 48 diamond drill holes, with results from the
final 5 holes from the 15,000-meter Phase I exploration program expected to be received shortly. All of
the drill results from the Phase I program will be incorporated into an updated resource estimate which
is expected to be announced in Q3/2021.
The Company’s Phase II exploration program is now well underway and will consist of a minimum of
10,000-meters of diamond drilling. Both drill rigs are now testing the continuity of gold mineralisation
towards the northeast of the Oculto deposit in an attempt to extend the Whittle Pit boundary, following
which additional targets peripheral to the Oculto zone will be explored.
Collar Data
Hole Number UTM Coordinates Elevation Azimuth Dip Depth
DDH 21-013 E720523 N7199621 4,298 180 -60 270
DDH 21-014 E720366 N7199417 4,327 0 -60 360
DDH 21-015 E720167 N7199287 4,254 0 -60 225
About Diablillos
The 80 km2 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 approximately 90,000 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)
Table 2 - 2018 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)
Indicated 26,900 93.0 0.85 80,300 732
Inferred 1,000 46.8 0.89 1,505 29
Effective August 31, 2017. The 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 March 2, 2018. For additional information please see
Technical Report on the Diablillos Project, Salta Province, Argentina, dated April 16, 2018, completed by Roscoe Postle
Associates Inc, 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, has reviewed and approved the
scientific and technical information in this news release.
Technical Notes
All results in this news release are rounded. Assays are uncut and undiluted. Intervals are drilled
widths, not true widths. AgEq calculations for reported drill results are based on USD $20.00/oz Ag,
$1,500/oz Au and $3.00/lb Cu. The calculations assume 100% metallurgical recovery and are indicative
of gross in-situ metal value at the indicated metal prices. The most recent technical report for the
Diablillos Project is the 2018 Preliminary Economic Assessment (PEA) authored by Roscoe Postle
Associates Inc. The PEA assumes average metallurgical recoveries of 82% Ag and 86% Au. No
metallurgical testwork has yet been completed on the recovery of copper.
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 an Indicated resource base of over 140Moz on a silver-equivalent basis and an initial open pit PEA study
completed in 2018. The Company is led by an experienced management team and has long-term supportive
shareholders including Mr. Eric Sprott, Altius Minerals and SSR Mining. In addition, AbraSilver owns a portfolio of
earlier-stage copper-gold projects, including the Arcas project in Chile where Rio Tinto has an option to earn up to
a 75% interest by funding up to US$25 million in exploration. 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