AbraSilver Launches Phase V Drilling at Diablillos Project
Toronto -- March 24, 2025 -- NewsGenie -- AbraSilver Resource Corp. (TSX:ABRA; OTCQX: ABBRF) has commenced a 20,000-meter Phase V diamond drilling program at its wholly-owned Diablillos property in Argentina. This phase builds on the success of Phase IV, which identified significant high-grade silver and gold mineralization.
The fully-funded program will use three diamond drill rigs to drill approximately 90 holes, expected to be completed by December 2025. It includes infill and step-out drilling to expand and upgrade the Mineral Resource estimate, with an updated estimate anticipated in mid-2025. Condemnation drilling will also occur as part of the Definitive Feasibility Study.
Key drilling areas include the Oculto-JAC epithermal district (JAC, JAC south extension, Sombra, Oculto Northeast, Oculto East, Oculto West, and Laderas targets) and the northeast epithermal-porphyry complex, including the Cerro Viejo gold target.
John Miniotis, President and CEO, stated the company is well-positioned to build long-term value for shareholders after strong Phase IV results and a successful equity raise.
Dave O’Connor, Chief Geologist, noted the program aims to expand known mineralized zones and assess new targets, with the Cerro Viejo system potentially becoming a major discovery.
Phase V drilling will strategically expand mineralization and test high-priority targets. Drilling has commenced with two rigs, and a third is expected soon.
Key Target Areas:
- JAC South Extension: Additional drilling will expand this shallow, high-grade zone.
- Sombra Zone: Additional drilling aims to further evaluate the strike and width continuity of this shallow mineralized system.
- Oculto Northeast: Drilling along the northern margin of Oculto intersected high-grade gold and silver mineralization beyond the proposed open pit margin.
- Oculto East: Additional drilling is planned to determine the direction and dimensions of these mineralized structures.
- Laderas: Drilling will evaluate potential mineral continuity between Laderas and Oculto to assess whether these zones could be combined into a potential single open pit.
- Cerro Viejo: Multiple silicified veins extend for more than one kilometre, where recent rock sampling returned significant gold values, validating the high-grade potential.
- Porphyry Complex: Additional geological and structural mapping, together with a magnetometer survey and PIMA studies are planned to refine drill targets before further reconnaissance drilling that is planned for later this year.
The Diablillos property is located in the Puna region of Argentina, with good year-round accessibility. Approximately 150,000 m have been drilled to date, which has outlined multiple occurrences of epithermal silver-gold mineralization at Oculto, JAC, Laderas and Fantasma.
Table 2 - Diablillos Mineral Reserve Estimate – As of March 07, 2024
| Category | Tonnage (000 t) | Ag (g/t) | Au (g/t) | Contained Ag (000 oz Ag) | Contained Au (000 oz Au) |
|---|---|---|---|---|---|
| Proven | 12,364 | 118 | 0.86 | 46,796 | 341 |
| Probable | 29,930 | 80 | 0.80 | 76,684 | 766 |
| Proven & Probable | 42,294 | 91 | 0.81 | 123,480 | 1,107 |