John Miniotis, President and CEO and David O’Connor, Chief Geologist of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), join me to review the next batch of silver and gold drill assays returned on September 30th, from the ongoing Phase V exploration program; which is focused on the Oculto East and JAC zones at their wholly-owned Diablillos property in Salta Province, Argentina.
These 6 drill holes continue to expand oxide-hosted gold mineralization to the east of the Oculto deposit and oxide silver mineralization within the JAC zone, highlighting the continued strong exploration upside potential across the Diablillos system.
Oculto East: Numerous broad zones of continuous gold mineralization intercepted, including:
- DDH 25-066: 1.0 metre (“m”) with bonanza grades of 108.9 g/t gold from 288 m downhole, as well as 18.0 m at 0.97 g/t gold from 353 m
- DDH 25-069: 24.0 m grading 1.02 g/t gold from 243 m
- DDH 25-071: 33.0 m grading 0.42 g/t gold from 69 m
- DDH 25-072: 140.0 m grading 0.57 g/t gold from 262 m, including 8.0 m at 2.60 g/t gold from 338 m
JAC: Strong near-surface silver mineralization continues to expand the Mineral Resource potential, including:
- DDH 25-053: 29.0 m at 65 g/t silver from 85 m, including 7.0 m at 108 g/t silver
- DDH 25-058: 32.0 m at 100 g/t silver from 58 m, including 2.0 m at 400 g/t silver
John pointed out that these latest drill assays highlight the strong continuity of wide gold zones at Oculto East, together with additional near-surface silver mineralization at JAC. Importantly, these results continue to expand both gold and silver resources well beyond the current Mineral Resource conceptual open pit, and they further demonstrate the scale of Diablillos Project to keep growing.
Dave shares the key takeaways their geological team is getting from the continued silver mineralization continuing to the west at JAC, while the gold mineralization is continuing to be delineated in Oculto East. He mentions that they now believe the higher-grade gold intercepts are just the top of a porphyry deposit at depth, and more holes will be testing this in the future, as well as the deeper hole targeting a different porphyry target at Cerro Viejo. Additionally, we circle back to the Sombra target identified in the Phase IV drill program last year, and how it is possible that there is a parallel trend that could extend from Sombra up to Oculto East, and that more drilling will focus on that thesis in the future.
Wrapping up John takes us through a number of ways that the company could still keep rerating higher, not just based on the thousands of meters of ongoing drilling, but also in light of how significant the higher silver and gold spot metals prices are to their project economics, and how the prior economics were run at substantially lower consensus metals prices. The Company is doing all the derisking work all building towards their ongoing Definitive Feasibility Study due out in early 2026, which in tandem with permits expected to be received, will be the triggers for a construction decision.
If you have any follow up questions for John or Dave regarding at AbraSilver, then please email them into me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of AbraSilver Resource Corp at the time of this recording and may choose to buy or sell more shares at any time.
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