AbraSilver – More High-Grade Drill Results Returned From The New JAC Zone Intersecting 32.0 Meters at 580 g/t AgEq in Oxides
John Miniotis, President and CEO of AbraSilver Resource Corp (TSX.V:ABRA – OTC:ABBRF), joins us to review more recently returned high-grade silver drill intercepts from the JAC Target at the Diablillos Project in Argentina.
On May 4th more exploration news was released where drill hole# DDH 23-021, located in the southeastern part of the drill target area, encountered high-grade silver mineralization in oxides, intersecting 32.0 meters grading 530.8 g/t Ag. Also of note, drill hole# DDH 23-017 tested the southwest extension of the JAC zone and intersected several zones of silver mineralization in oxides, with 12.0 meters grading 876.1 g/t Ag from a downhole depth of 92.0 meters downhole, including 2.0 meters grading 4,968.4 g/t Ag and 0.14 g/t Au. These high-grade intervals further demonstrate that there are zones within the JAC system that will raise the overall grade of the mineral resource.
John outlines why the exploration team is so encouraged by the continued success of the Phase 3 drill program, with 20,000 meters and 85 holes drilled to date, but only 46 holes have been released to the market thus far. There are plans for another 2,000 meters for Phase 3 to be drilled in May taking the total up to around 22,000 meters, and then all results feeding into a maiden Resource Estimate on this JAC target area in September. This will be followed by work incorporating other metallurgical data, environmental and permitting work, and other project derisking going on into a Preliminary Feasibility Study by year end.
We also discussed the long 1,200 meter hole the company finished drilling at their second project, La Coipita, near San Juan Argentina, which is testing for a potential high-grade copper-gold porphyry system. The drill assay will be released on this hold in the next month, along with a stead stream of drill results from the JAC Target from the ongoing Phase 3 drill program.
If you have any follow up questions for John regarding at AbraSilver, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of AbraSilver
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Click here to visit the AbraSilver website and read over the most recent news releases.
Otavio (Tavi) Costa @TaviCosta – Twitter -1:05 PM · May 5, 2023
“Silver just had its first weekly close above a 12-year resistance.”
“The train is leaving the station.”
Bob Moriarty: It Wouldn’t Take Much For Gold To Go Up $200 In A Single Day
by Ceo Technician (Robert Sinn) – May 8th, 2023
> Goldfinger:
“Bob, we are having some serious regional banking turmoil in the US. It seems like every day now there’s some new bank in trouble. Today, it’s PacWest and Western Alliance. Clearly there’s losses in regional banks that have a lot of real estate exposure to places like San Francisco or Phoenix, that have had pretty significant downturns in the last year and a half.”
“Then, they hold a lot of interest rate risk. I mean, that’s just the nature of banks. What do you make of this? I mean, this seems like it’s really gaining steam but the broader stock market doesn’t seem to think it’s much of a risk.”
>> Bob Moriarty:
“Yeah, of course it is. Here’s the key. If you go back to March, when the bank failures started, the Wall Street Journal put out an article saying there were 186 banks on the verge of going under. You kind of hinted at it, but this isn’t a perfect storm for banks.”
“Their vast investments in US government 30-year treasuries were down 29%. That’s supposed to be the safest investment. Commercial real estate is getting killed.”
You said regional banks, but I don’t think regional banks are important. I think it’s the entire banking system. It’s bankrupt. Stanford just came out with study. There were about 4,800 banks. They said 2,300 of them are at risk.”
“All banks lend long and borrow short. So, no matter how good a bank is, it always has the potential for a bank run. When Stanford comes out saying 2,300 banks are in danger, they’re really adding fuel to the fire. We need to burn the financial system down. The debt-based financial system of the west, that goes back to Greek and Roman times has failed and always fails.”
“We’ve got $300 trillion worth of debt that cannot be paid. The sooner we do something about it, the better. You realize we’re not doing anything to actually solve the real problem…”
California Defaults On $18.6 Billion In Debt, Saddling Employers With The Expense
May 07, 2023
“California’s recent decision not to pay back some $20 billion borrowed from the federal government to cover unemployment benefits during the pandemic will fall on the shoulders of employers, according to experts…”
https://www.zerohedge.com/political/california-defaults-186-billion-debt-saddling-employers-expense
(TSX: STGO) (OTCQX: STPGF) Steppe Gold Ltd. Signs Arrangement Agreement to Acquire Anacortes Mining Corp. and Creates a Leading Diversified Precious Metals Producer
8 May 2023
“The Transaction is anticipated to create a leading junior gold producer with significant near-term growth. In addition to current production from Steppe Gold’s ATO gold mine, which is expected to increase in scale with the current Phase 2 expansion, additional future growth would be supported by the development of the high-grade Tres Cruces oxide project in Peru, which is located approximately 10 km from the Lagunas Norte mine.”
https://ceo.ca/@newsfile/steppe-gold-ltd-signs-arrangement-agreement-to-acquire
Abrasilver More Success At The JAC Zone
Mining Charts – May 6, 2023
https://youtu.be/OsxSGdxroOo