AbraSilver Resource – 1.9 g/t Gold Over 36 Meters Was Returned Near Surface From The Cerro Viejo Target Drilling
John Miniotis, President and CEO and David O’Connor, Chief Geologist of AbraSilver Resource Corp (TSX.V:ABRA – OTCQX:ABBRF), join me to review the next batch of drill assays returned from the ongoing 20,000 meter Phase 4 diamond drill campaign on their wholly-owned Diablillos property in Salta Province, Argentina.
These assay results we review are from four initial reconnaissance drill holes at the porphyry complex, located approximately 3.5 km northeast of the Oculto deposit. Results indicate that drilling has tested the upper part of a major porphyry system that is estimated to span up to approximately 3 km in length and 2 km in width, hosting zones of gold, silver and copper, including some high-grade intervals. The porphyry mineralization appears to have a high-grade gold epithermal overprint.
Dave takes us through the key takeaways from the initial reconnaissance drilling at the Cerro Viejo target in the Diablillos porphyry complex. This included three holes confirming widespread gold mineralization; most notably drill hole DDH 24-056, which intersected 36.0 m at 1.91 g/t Au, starting at a downhole depth of only 87 m, with a higher-grade interval of 5.0 m at 7.22 g/t Au. This intercept highlights a shallow, high-grade gold zone easily accessible for future exploration.
Dill holes DDH 24-059 and DDH 24-071, both intersected broad zones of gold, silver, and copper porphyry-style mineralization. The drilling at the Cerro Blanco target was limited to one hole, DDH 24-081, which was not ideally positioned and intercepted only short intervals of gold and copper mineralization. However, historical and recent surface sampling revealed high-grade zones with copper-rich intervals, offering promising targets for future exploration.
Next John outlined the ongoing Phase IV drill program at both JAC and Occulto, which is focused on expanding the existing Diablillos Mineral Resource estimate across the broader Diablillos land package. The Company has two drill rigs operating and, to date, has completed approximately 19,000 m of drilling in 96 holes, and with drill likely turning for another month into February, it will likely end up being more than the 20,000 meters initially planned. Several assay results are awaited from the lab and will be released on an ongoing basis pending review. This data from the Phase 4 drilling will feed into an updated Resource Estimate later this year as the next key milestone.
Additionally, the upcoming resource estimate in 2025 will feed into the Definitive Feasibility Study (DFS), which will be managed by a team of experienced engineers and consultants, supported by the Company’s technical team. The Company will undergo a competitive tendering process to select qualified Engineering, Procurement, Construction and Management firms, with the award anticipated by no later than April 2025. Regular progress updates will be provided by the Company as the DFS advances, with results expected to further showcase the Company’s potential to become a key low-cost silver-gold producer in the middle of 2026.
If you have any follow up questions for John or Dave regarding at AbraSilver, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of AbraSilver at the time of this recording.
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