Mineralization Expansion Beyond Open Pit Margin At Diablillos

TORONTO - AbraSilver Resource Corp. reported the latest diamond drill hole assays from the ongoing Phase II drill program on the Diablillos property in Salta Province, Argentina. The latest step-out drill holes continue to confirm the existence of broad intervals of silver and gold mineralization in both directions along strike beyond the current conceptual Preliminary Economic Assessment (PEA) open pit margin.

John Miniotis, President and CEO, said, “Today’s drill results highlight the significant opportunity for AbraSilver to increase Mineral Resources beyond the levels included in the estimate announced in September 2021.  The ongoing Phase II drill program results continue to confirm that the high-grade oxide mineralization extends along strike beyond the conceptual PEA open pit boundary, both towards the southwest and northeast.  Additionally, we also continue to extend the mineralization at depth where we are now planning a systematic drilling program to test the extent of the deeper sulphide mineralization later on this year.”  

Hole DDH 21-067 was drilled to test the north-eastern extension of the Main Breccia, while hole DDH 21-068 was drilled to test the south-western extension of the Main Breccia. Both holes were drilled on the margin of the conceptual PEA open pit to test the expansion potential of the pit to incorporate more mineral resources. Hole DDH 21-067 intersected several high-grade mineralized zones, including 56.0 meters at 83.5 g/t silver from 137 to 193 meters, and 66.0 meters at 1.90 g/t gold and 57.0 g/t silver from 242 to 308 meters, including 9.0 meters at 4.02 g/t silver and 94.2 g/t silver.

Hole DDH 21-068 intersected 57.0 meters at 1.47 g/t gold and 108.0 g/t silver from 89 to 146 meters, including 17.0 meters at 4.65 g/t gold and 105.6 g/t silver. These two holes show high-grade mineralization at the margins of the conceptual open pit and demonstrate the potential for expansions of the pit both towards the southwest and northeast.

The 80 km2 Diablillos property is located in the Argentine Puna region - the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile - and was acquired from SSR Mining Inc. by the Company in 2016.  There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with over 90,000 meters drilled to date.  Oculto is a high-sulphidation epithermal silver-gold deposit derived from remnant hot springs activity following Tertiarty-age local magmatic and volcanic activity.