Buenos Aires / TheNewswire / August 4, 2017, - AbraPlata Resource Corp ("AbraPlata" or the "Company") (TSX-V: ABRA;  OTCQB: ABBRF;  Frankfurt: 1AH)  is  pleased to  announce that  it  has  engaged Roscoe  Postle Associates (“RPA”) of Toronto, Canada and GR Engineering Services Limited (“GRES”) of Perth, Australia to undertake a Preliminary Economic Assessment (“PEA”) of the Diablillos Ag-Au project located in southern Salta Province in northwestern Argentina.

 

Diablillos Project

 

The Diablillos property covers an area of some 79km2 and hosts epithermal precious metal mineralization in nine mineral occurrences.  One of these, the Oculto Deposit, contains all the Indicated Resources known from the property which, as recently estimated by RPA, amounts to 27.7m tonnes at a grade of 91.2g/t Ag and 0.85g/t Au and containing 81.3m oz Ag and 755k oz Au (ie, 135m oz AgEq or

1.9m  oz  AuEq).    In  addition, the  Company is  currently drilling-off additional mineralization at  the Fantasma Mineralized Zone some 800m west of Oculto with a view to further defining and expanding the existing resource base from the property.   This will allow AbraPlata to establish the parameters necessary for undertaking a PEA which will be completed by RPA and GRES over the next three to four months.

 

Preliminary Economic Assessment (PEA)

 

The PEA to be prepared by RPA and GRES will cover all aspects of the Diabilillos project that would typically be addressed in a scoping study.  More specifically, RPA will be responsible for preparing land and permit requirements, geology and resources (including a new resource estimate for the property), all mining aspects (including mine design and optimization, mining methods and equipment, and waste rock disposal procedures), and life-of-mine plan.  GRES will provide inputs with respect to preliminary process design criteria, process flow diagrams, general arrangement drawings, mechanical  equipment lists, material take-offs, leach pad and tailings storage facility, and supporting infrastructure (roads, power, water, buildings, etc).  The report will also include after-tax cash flow forecasts and cash flow sensitivity to key inputs.

 

“We are pleased to have RPA and GRES assist AbraPlata with the PEA” commented Hernan Zaballa, Executive Chairman of AbraPlata, “Both of these highly skilled and reputable firms have individual team members that have a wealth of professional experience on a variety of diverse projects in Latin America. We are looking forward to working closely with them as we continue to advance the Diablillos project through an increasingly detailed analysis of its development potential”.

Qualified Person

 

Willem Fuchter, PhD PGeo, President and CEO of AbraPlata Resource Corp. and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

 

About AbraPlata

 

Abraplata  is  a  junior  mining  exploration  company  focused  on  delivering  shareholder  returns  by unlocking mineral value in Argentina. The Company's experienced management team has assembled an outstanding portfolio of gold, silver and copper exploration assets, and is focused on advancing its flagship Diablillos property, with an indicated resource of 81.3m oz Ag and 755k oz Au, through the various stages of feasibility.  In addition, AbraPlata owns the highly prospective Cerro Amarillo property with its cluster of five mineralized Cu-(Mo-Au) porphyry intrusions located in a mining camp hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits. Further exploration work is also planned for the Company’s Samenta porphyry Cu-Mo property, located south of First Quantum’s TacaTaca project, as well as its Aguas Perdidas Au-Ag epithermal property.

 

About RPA

 

RPA is a global mining consultant with offices in Canada, the United States, and United Kingdom.  The company provides services to the mining industry at all stages of project development from exploration and resource evaluation through scoping, prefeasibility and feasibility studies, financing, permitting, construction, operation, closure and rehabilitation.   RPA advises major mining companies, mid-cap producers, junior mining and exploration companies, financial institutions, governments, law firms, and individual investors on the technical and commercial aspects of mineral property development.

 

About GRES

 

GR  Engineering  Services  Limited  is  a  medium-sized,  ASX-listed  (ASX:  GNG)  process  design  and engineering contractor specialising in providing engineering design and construction services to the mineral  processing  industry.     Headquartered  in  Perth,  Western  Australia,  GRES  has  successfully delivered EPC fixed price projects and EPCM services into a large number of projects which have been located in many different countries and regions. GRES has teams of highly experienced technical and engineering professionals and broad experience in the compilation of feasibility studies.

    

ON BEHALF OF THE BOARD ABRAPLATA RESOURCE CORP.

"Willem Fuchter" Willem Fuchter

President & Chief Executive Officer

For further information concerning this news release, please contact:

 

Willem Fuchter                                                           Karl Cahill

President & Chief Executive Officer                        VP Investor Relations AbraPlata Resource Corp.                                        AbraPlata Resource Corp Tel: +54.11.5258.0920                                              Tel: +1.858.531.6100

E-mail: willem@abraplata.com                               Email: karl@abraplata.com

      

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For  further  information  about  AbraPlata  and  its  projects,  please  visit  the  Company’s  website  at www.abraplata.com.