(via TheNewswire)
Key Highlights:
- DDH 21-019 & 21-020 are the final two drill holes from the highly successful Phase I drill program. All results from this program will now be incorporated in a new mineral resource estimate and PEA study, both of which are underway
- DDH 21-019 extends the
Tesoro Zone to the southwest and intersected high-grade gold and silver mineralization with63m at 3.8 g/t AuEq(282 AgEq), including33m at 5.6 g/t AuEq(422 AgEq)
Table 1 – Drill Result Highlights(Intercepts greater than 2,000 gram-meter AgEq shown in bold text):
-------------------------------------------------------------------------------------- |Drill| |From |To |Type |Interval |Ag |Au |Cu |AgEq1g/t|AuEq1g/t| |Hole | |(m) |(m) | |(m) | g/t |g/t |% | | | |------------------------------------------------------------------------------------| |DDH-21-019 | |45 |48 |Oxides|3.0 |8.0 |0.94|- |78.5 |1.05 | |------------------------------------------------------------------------------------| |DDH-21-019 | |118 |181 |Oxides|63.0 |159.6|1.63|- |281.9 |3.76 | |------------------------------------------------------------------------------------| |DDH-21-019 |Including|144 |177 |Oxides|33.0 |195.3|3.02|- |421.8 |5.62 | |------------------------------------------------------------------------------------| |DDH-21-019 |Including|166 |174 |Oxides|8.0 |212.6|7.72|- |791.6 |10.55 | |------------------------------------------------------------------------------------| |DDH-21-020 | |149.5|169 |Oxides |19.5|148.9|0.21|- |164.7 |2.20 | |------------------------------------------------------------------------------------| |DDH-21-020 | |180.5|188.5|Oxides |8.0 |164.3|0.43|- |196.6 |2.62 | |------------------------------------------------------------------------------------| |DDH-21-020 | |283 |292 |Sulphides |9.0 |- -- |0.54|55.5 |0.74 | |------------------------------------------------------------------------------------| |DDH-21-020 | |302.5|322.5|Sulphides |20.0|27.4 |1.45|1.89|330.6 |4.41 | |------------------------------------------------------------------------------------| |DDH-21-020 |Including|317.5|322.5|Sulphides |5.0 |39.2 |4.46|2.54|635.0 |8.47 | --------------------------------------------------------------------------------------
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
David O’Connor, Chief Geologist, commented, “We are excited by the new drill results received from hole DDH 21-019 which continue to demonstrate the extension of high-grade silver and gold mineralisation beyond the western end of the
Figure 1 – Drill Hole Location Map and Proposed Drill Holes in the
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Discussion of Drill Hole Results
Hole DDH 21-019 extends the
Hole DDH 21-019 intersected high-grade gold and silver mineralisation, with63.0 metres of 159.6 g/t silver and 1.63 g/t goldfrom 118 to 181 metres, including8.0 metres of 212.6 g/t silver and 7.72 g/t gold. This hole shows continuity of silver and gold rich mineralisation beyond the western end of the
Hole DDH 21-020 tested the southern edge of the mineralised zone as well as the underlying sulphide root zone. The hole intersected19.5 metres of 148.9 g/t silver and 0.21g/t goldfrom 149.5 to 169 metres. In addition, results from the sulphide zone intersected20.0 metres of 27.4 g/t silver, 1.45 g/t gold and 1.89% copperfrom 317.5 to 322.5 metres, including5.0 metres of 39.2 g/t silver, 4.46 g/t gold and 2.54% copper.
Hole DDH 21-020 demonstrates continuity of the high-grade copper-gold mineralisation underlying the oxide resources in the sulphide zone, which will be systematically explored over the coming months.
Figure 2 – Cross Section 8150 (Looking East) with Highlighted intercepts in Holes DDH 21-019
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Figure 3 - Cross Section 8250 (Looking East) with Highlighted intercepts in Hole DDH 21-020
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Exploration Program Update
Phase I drilling: The Company’s 15,000-meter Phase I drilling was completed in April, and all results from the laboratory have now been received and announced. The results from the Phase I program comprised several world-class intercepts including:
- DDH 20-027: 103 m of 388.6 g/t silver and 1.70 g/t goldwithin oxides (from 141 to 244 m) Including 17 m of 1,466.7 g/t silver and 0.55 g/t goldwithin oxides (from 163 to 180 m)
- DDH 21-012: 104 m of 216.2 g/t silver and 2.21 g/t goldwithin oxides (from 134 to 238 m)
- DDH 20-009: 83 m of 289.4 g/t silver and 1.45 g/t goldwithin oxides (from 171 to 254 m)
- DDH 21-009: 75 m of 166.7 g/t silver and 2.24 g/t goldwithin oxides (from 208 to 283 m)
- DDH 20-001: 15 m of 658.0 g/t silver, 2.35 g/t gold and 5.10% copperwithin sulphides (from 275 to 290 m)
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 total costs for the Phase I exploration program came in under the budget of
Phase II drilling: The Company has now completed approximately 4,000 metres (17 holes) as part of its Phase 2 drill program, which will consist of a minimum of 10,000-metres of diamond drilling. There are currently two drill rigs operating at site, testing the continuity of gold mineralisation at the Oculto zone to the northeast in support of an expansion of the
Collar Data
---------------------------------------------------------- |Hole Number|UTM Coordinates |Elevation|Azimuth|Dip|Depth| |--------------------------------------------------------| |DDH 21-019 |E720117|N7199234|4,233 |0 |-60|226 | |--------------------------------------------------------| |DDH 21-020 |E720217|N7199220|4,256 |0 |-60|325.5| ----------------------------------------------------------
About Diablillos
The 80 km2Diablillos property is located in the Argentine Puna region - the southern extension of the Altiplano of southern
Table 2 - 2018 Mineral Resource Estimate for the Oculto Deposit,
--------------------------------------------------------- |Category |Tonnage|Ag |Au |Contained Ag|Contained Au| | |(000 t)|(g/t)|(g/t)|(000 oz Ag) |(000 oz Au) | |-------------------------------------------------------| |Indicated|26,900 |93.0 |0.85 |80,300 |732 | |-------------------------------------------------------| |Inferred |1,000 |46.8 |0.89 |1,505 |29 | ---------------------------------------------------------
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, 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
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
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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
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