(via TheNewswire)
Drilling at the JAC zone continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths, as well as underlying copper and silver mineralization in sulphides.
Notably, drill hole DDH 23-029 encountered silver mineralization in oxides to the west of the main JAC mineralized zone, which was drilled to test an extension of the magnetic anomaly associated with the mineralization at JAC. This mineralization is hosted in granitic basement rocks under the andesite volcanics and, consequently, opens up potential for further mineralized zones. Additionally, the JAC zone continues to remain open along strike towards the southwest and in other directions.
The latest assay result highlights are summarized in Table 1 below.
Table 1 – Diablillos Drill Result Highlights in
(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-23-024 | 69.0 | 82.0 | Oxides | 13.0 | 47.5 | - | - | 47.5 | |||
DDH-23-024 | 87.0 | 100.0 | Oxides | 13.0 | 36.9 | - | - | 36.9 | |||
DDH-23-024 | 127.0 | 139.0 | Oxides | 12.0 | 44.7 | - | - | 44.7 | |||
DDH-23-024 | 144.0 | 161.0 | Oxides | 17.0 | 828.9 | - | - | 828.9 | |||
DDH-23-024 | Includes | 152.0 | 157.0 | Oxides | 5.0 | 2,215.4 | - | - | 2,215.4 | ||
DDH-23-025 | 93.0 | 97.0 | Oxides | 4.0 | 31.4 | - | - | 31.4 | |||
DDH-23-025 | 100.0 | 179.0 | Oxides | 79.0 | 237.6 | 0.15 | - | 249.9 | |||
DDH-23-025 | Includes | 156.0 | 179.0 | Oxides | 23.0 | 519.2 | 0.12 | - | 529.0 | ||
DDH-23-025 | 179.0 | 209.5 | Sulphides | 30.5 | 96.6 | - | 3.28 | 96.6 | |||
DDH-23-026 | 120.0 | 127.0 | Oxides | 7.0 | 47.6 | - | 47.6 | ||||
DDH-23-026 | 131.0 | 150.0 | Oxides | 19.0 | 107.3 | 0.69 | - | 163.8 | |||
DDH-23-027 | 56.0 | 115.0 | Oxides | 59.0 | 129.6 | - | - | 129.6 | |||
DDH-23-027 | Includes | 58.0 | 62.0 | Oxides | 4.0 | 812.2 | - | - | 812.2 | ||
DDH-23-028 | 127.0 | 134.0 | Oxides | 7.0 | 46.5 | - | - | 46.5 | |||
DDH-23-028 | 156.5 | 181.0 | Transition | 24.5 | 189.8 | - | 0.20 | 189.8 | |||
DDH-23-028 | Includes | 173.0 | 176.0 | Sulphides | 3.0 | 1,174.9 | 0.26 | 0.79 | 1,196.2 | ||
DDH-23-029 | 73.0 | 75.0 | Oxides | 2.0 | 74.8 | - | - | 74.8 | |||
DDH-23-029 | 126.0 | 157.4 | Oxides | 31.4 | 174.4 | - | - | 174.4 |
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 for oxides.
1AgEq based on 81.9(Ag):1(Au) calculated using long-term prices of
Dave O’Connor, Chief Geologist, commented, “In addition to consistently encountering high-grade silver mineralization with associated gold at JAC, we are also intersecting underlying high-grade copper mineralization with associated silver/gold in sulphides immediately beneath the oxides. It is now evident that the high-grade sulphide mineralization in zones beneath the base of oxidation is continuous for at least 2 km along the length of the Oculto-JAC system, representing an additional attractive exploration target, beyond the oxidized mineralization at JAC.”
Key takeaways from the latest JAC zone drill results include:
DDH 23-024was drilled to test continuity of the
JAC Zone for resource estimation. The hole intersected multiple zones of silver mineralization in oxides, with17.0 metres grading 828.9 g/t Agfrom a downhole depth of 144.0 metres, including5.0 metres grading 2,215.4 g/t Ag.DDH 23-025 was drilled to test continuity of the
JAC Zone for resource estimation. The hole intersected significant silver and gold mineralization in oxides, including79 metres at 237.6 g/t Ag and 0.15 g/t Aufrom 100.0 metres downhole.Immediately beneath this high-grade oxide intercept, the hole encountered30.5metres grading 3.28% Cu and 96.6 g/t Agin sulphide mineralization.This is the best copper intercept drilled at JAC to dateon a grade-thickness basis, demonstrating the potential of high-grade feeder structures at JAC to host substantial sulphide mineralisation.
DDH 23-026 was drilled to test the north-eastern extremity of the
JAC Zone near the Oculto conceptual open pit, and encountered silver and gold mineralization in oxides, intersecting19.0 metres grading 107.3 g/t Ag and 0.69 g/t Aufrom 131.0 metres downhole.DDH 23-027 was drilled to test the northern margin of the
JAC Zone and intersected59 metres grading 129.6 g/t Ag, including 4 metres grading 812.2 g/t Ag,starting from a downhole depth of only 56.0 metres.DDH 23-028 was drilled to test continuity of the
JAC Zone for resource estimation. The hole encountered24.5 metres grading 189.8 g/t Agin the oxide/sulphide transition zone, including3.0 metres grading 1,174.9 g/t Ag and 0.79% Cuin sulphides, starting from a downhole depth of 156.5 metres.DDH 23-029,was drilled beyond the JAC drill target area to explore for a possible new perpendicular zone of mineralization.The hole showed continuity of silver dominant mineralisation beyond the current southwestern margin of the JAC deposit and intersected31.4 metres grading 174.4 g/t Agin oxides starting from a downhole depth of 126.0 metres.
The hole is located on a zone of low magnetic intensity heading NW from the main JAC trend towards the Alpaca target where historical drilling intersected silver mineralisation. Additional drilling in this area will now be conducted.
Figure 1 – Plan View of Announced Drill Holes in
Figure 2 – Long Section Through Newly Announced Drill Holes in
Exploration Update
Drilling activity at Diablillos remains focused on the recently discovered JAC zone which is located southwest of the conceptual open pit that constrains the current Mineral Resource estimate (“MRE”) on the main Oculto deposit (M&I MRE containing 1.3 Moz gold and 109 Moz silver – Table 2).
Two rigs have essentially completed drilling the planned 22,000-metre Phase III program with results demonstrating mineralization at the JAC zone over an area at least 800 metres by approximately 200 metres. As the JAC zone remains open in several directions, the Company now plans to drill at least an additional 15 holes as part of the Phase III program in order to define the limits of the high-grade silver mineralization in oxides. All Phase III drill holes will be incorporated into an updated MRE and will be included in a Pre-Feasibility Study on the Diablillos project, which the Company expects to complete in the second half of 2023.
Moreover, additional exploration targets have been identified to the southwest of the Oculto MRE based on the recently completed detailed ground magnetic survey. Some of these targets, including the Fantasma and Alpaca targets, will be drilled following the systematic drilling of the JAC zone.
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth (m) | |
DDH 23-024 | E719760 | N7198856 | 4,174 | 315 | -60 | 200 |
DDH 23-025 | E719724 | N7198828 | 4,172 | 315 | -60 | 224 |
DDH 23-026 | E719882 | N7198955 | 4,187 | 315 | -60 | 179 |
DDH 23-027 | E719576 | N7198771 | 4,159 | 0 | -60 | 200 |
DDH 23-028 | E719529 | N7198715 | 4,154 | 315 | -60 | 212 |
DDH 23-029 | E719211 | N7198614 | 4,132 | 0 | -60 | 182 |
About Diablillos
The 80 km2Diablillos property is located in the Argentine Puna region - the southern extension of the Altiplano of southern
The most recent Mineral Resource estimate for the Oculto Deposit is shown in Table 2:
Table 2 -Oculto Mineral Resource Estimate – As of
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
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
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
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info@abrasilver.com
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
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