AbraSilver Resource Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. AbraSilver also owns a portfolio of earlier-stage copper-gold projects, including the La Coipita copper-gold project in the San Juan province of Argentina. The Company is led by an experienced management team and has long-term supportive shareholders, including Eric Sprott.

A Premier Silver & Gold Exploration Company

• Diablillos – A Stand-Out Open Pit Oxide Silver-Gold Project
• Large Resource Base with Excellent Exploration Upside
• Oculto Deposit Measured & Indicated Mineral Resource (Refer to press release dated November 03, 2022 for details): +109 million ounces of Silver & 1.3 million ounces of Gold
• Intersected 6 of world's top 8 best drill results for primary silver assets
• New High-Grade, Near-Surface Silver Zone Now Being Drilled
• New high-grade discovery in JAC target, located hundreds of metres southwest of existing Oculto resource
• 15,000m drill program focused on JAC, with maiden resource estimate scheduled for Q2/2023, followed by Pre-Feasibility Study (PFS) on entire Diablillos project
• Strong Balance Sheet & Supportive Shareholders
• ~C$13M cash to fund exploration on Diablillos and other projects
• Top Tier Shareholders:
• Strong support from strategic and large institutional investors (Eric Sprott is largest shareholder ~13%)
• Additional Cu-Au Porphyry Discovery at La Coipita Copper-Gold Project
• Large-scale project located in prolific copper belt of San Juan, Argentina
• Initial drill hole returned 226m of 0.34% Cu & open at depth (1,200m)

Projects in Hand

Diablillos Silver-Gold Project, Salta Province, Argentina

There are several known mineral zones on the 80 sq. km Diablillos property, with the Oculto zone being the most advanced with over 120,000 metres drilled to date. Oculto is a high-sulphidation epithermal silver-gold deposit.

The Diablillos project has a significant measured and indicated (M&I) Resource base when compared to other primary silver assets located in Latin America.

• The current M&I mineral resource estimate for the Oculto deposit consists of 51.3 million tonnes grading 66 g/t Ag and 0.79 g/t Au, containing approximately 109 million ounces of silver and 1.3 million ounces of gold (as of October 31, 2022), with significant further upside potential based on recent exploration drilling.

Industry-Leading Exploration Success

• ABRA intersected 6 of top 8 best results globally in Tesoro zone at Oculto
• Hole DDH 22-045: 127m @ 506 g/t Ag and 1.99 g/t Au
• Hole DDH 22-015: 26m @ 2,358 g/t Ag and 0.36 g/t Au
• Hole DDH 20-027: 103m @ 389 g/t Ag and 1.70 g/t Au
• Hole DDH 20-043: 23m @ 1,939 g/t Ag and 0.28 g/t Au
• Hole DDH 20-037: 155m @ 186 g/t Ag and 1.48 g/t Au
• Hole DDH 22-004: 140m @ 219 g/t Ag and 1.17 g/t Au

The Company has recently discovered a brand-new exploration target (the JAC target), located several hundred metres beyond the southwestern limit of the October 2022 Mineral Resource estimate at Oculto. To date, initial assay results received from the new JAC target in the Southwest zone have demonstrated high-grade silver mineralization in near-surface oxide mineralization over broad widths, with excellent potential for continuity based on magnetics and geological interpretation. The new Southwest zone adds a brand-new dimension to the Diablillos project and opens up considerable silver resource potential beyond the October 2022 Mineral Resource estimate.

Ongoing Phase III step-out drill program focused on exciting new discovery in Southwest zone (JAC Target), located over 500 metres to the southwest of the Oculto Mineral Resource.

La Coipita Project, San Juan Province, Argentina

ABRA owns an option to acquire a 100% stake in a large +70,000 ha project in one of the world's most endowed copper-gold belts.

New Copper-Gold Porphyry Discovery

• Hole DDHC-22-002 intersected a continuous copper porphyry zone of 226m of 0.34% Cu, 0.07 g/t Au & 66 ppm Mo marking a new discovery on the La Coipita project.
• Mineralisation open at depth, as bottom of hole ended within a separate interval of 147m of 0.27% Cu & 75 ppm Mo down to a depth of approximately 1,200m;
• Porphyry style mineralisation encountered within the host rocks adjacent to the central porphyry intrusive progenitor, which has not yet been intersected.
• Drill results targeted at a surface geochemistry pattern interpreted as being a reflection of an underlying porphyry system, with estimated dimensions of 2,000 metres by 1,500 metres.
• Follow-up drilling in this new major porphyry system is being planned for the upcoming field season, with the objective of intersecting the central porphyry intrusive progenitor.

Strong Track-Record of Adding Shareholder Value with Multiple Near-Term Catalysts

2021

• 15,000m drill program
• Updated Resource M&I: increased 37% Au, increased 11% Ag
• Updated preliminary economic assessment (PEA) study (After tax NPV5% of US$364M & IRR of +30%)

H1/22

• Completed Phase II 20,000m drill program (PFS)
• Complete environmental baseline study
• Initial discovery at La Coipita project

H2/22

• Update Resource Estimate on Oculto
• Ongoing results from 15,000m drill program
• PFS Metallurgical Testwork

H1/23

• Maiden resource estimate on Southwest Zone
• PFS completed on Diablillos
• Ongoing exploration at Diablillos & La Coipita

Management

Management and Directors

John Miniotis, Chief Executive Officer

Over 18 years of experience in the mining industry (Lundin Mining, AuRico Metals, Barrick, BMO) focused primarily on mergers & acquisitions, equity capital markets, IR & corporate finance

David O'Connor, Chief Geologist

Over 40 years' experience acquiring, exploring, and developing mineral projects in South America & executive management

Responsible for early exploration at the world-class Olympic Dam project

Klaus Zalewski, Senior VP Projects

Professional civil engineer with 40 years of experience in the construction and mining industries, focusing on project and operations management, leading PFS and BFS level technical studies

Carlos Pinglo, Chief Financial Officer

Over 25 years experience in financial management with a focus on Latin American jurisdictions

Eugenio Ponte, Country Manager

Over 25 years experience primarily focused in environmental and corporate social responsibility in various projects throughout Argentina

Rob Bruggeman, Chairman

Jens Mayer, Director

Flora Wood, Director

Stephen Gatley, Director

Hernán Zaballa, Director

Sam Leung, Director

Nicholas Teasdale, Director

News Update

On November 01, 2023, Abrasilver Resource Corp. has released initial drill results from its first regional exploration program focused beyond the Oculto and JAC zones at its Diablillos property in Salta province, Argentina.

The initial drill results confirm the potential for additional near-surface mineralized zones located to the west and southwest of the main Oculto deposit and represent new exploration targets that will be pursued in the next drill program. The company also recently completed detailed structural mapping and an expanded magnetic survey covering the new target areas to further assist with prioritizing targets for the company's next exploration campaign. New regional exploration targets at Diablillos

Alpaca target: Drilling in this area has uncovered a trend of silver mineralization perpendicular to the JAC zone which is believed to connect the Alpaca target to the high-grade JAC zone:

• Diamond drill hole 23-077, located between the JAC and Alpaca areas, intersected a near-surface zone of silver mineralization, totalling 21.5 metres at 154.5 grams per tonne silver, starting from a down-hole depth of only 95.5 metres.
• There is a marked zone of low magnetic intensity perpendicular to the main mineralized south-southwest trend and DDH 23-077 intersected silver mineralization, indicating there is good potential for further discovery.

On October 10, 2023, Abrasilver Resource Corp. has released positive results from metallurgical optimization testing on the Oculto deposit at its wholly owned Diablillos property in Salta province, Argentina. The program was completed by independent metallurgical consultants, SGS Canada Inc., at its testing facilities in Lakefield, Ontario.

The metallurgical testing was conducted as part of the ongoing Pre-Feasibility Study ("PFS") for Diablillos, and further complements the positive metallurgical results achieved for the JAC and Fantasma deposits, which were announced on June 1, 2023 .

Key takeaways from the PFS-level metallurgical test work include:

Recovery rates at the Oculto deposit are expected to range between 82% - 86% for silver and 84% - 89% for gold.

These results represent a significant increase over the average recovery rates of 73.5% for silver and 86% for gold used in the 2022 Preliminary Economic Assessment ("PEA").

A substantial percentage of the silver and gold at Oculto can be recovered by gravity separation which results in higher recovery rates and lower processing costs .

Importantly, fine grinding is not necessary with the most efficient recoveries achieved at a grind size of 150 microns for both gravity and cyanidation and an optimal retention time of 36 hours.

On August 30, 2023, Abrasilver Resource Corp. has released assay results for the final set of drill holes completed as part of the company's highly successful phase 3 drill program on its wholly owned Diablillos property in Salta province, Argentina.

The reported holes were designed to delineate the margins of the JAC zone, ahead of the upcoming mineral resource estimate (MRE) and a prefeasibility study (PFS) on the Diablillos project. Key takeaways include:

• Diamond drill hole 23-066 to DDH 23-070 were drilled to determine the northwestern edge of the JAC zone. All holes encountered silver mineralization, with a broad intercept of 64 metres grading 148 grams per tonne silver in hole DDH 23-070 from a down-hole depth of only 41 m.
• DDH 23-071 to DDH 23-075 were drilled to test the northeastern edge of the JAC zone. The holes encountered several narrower zones of silver mineralization, with hole DDH 23-075 intersecting 15.0 m at 93 g/t Ag and 0.78 g/t gold:
• Results from DDH 23-075 are highly encouraging, as they demonstrate the continuity of mineralization between the JAC zone and the main Oculto deposit, and the possibility of a combined open pit.
• DDH 23-065 was drilled beyond the northwestern edge of the JAC zone, into the recently discovered JAC North zone. The hole successfully encountered a near-surface intercept of seven m grading 119 g/t Ag and 0.14 g/t Au, starting at a down-hole depth of only 85 m.
• This encouraging result further confirms the presence of a new significant mineralized structure beyond the main JAC zone:
• As confirmed on Aug. 9, 2023, the newly discovered JAC North zone is located over 900 m beyond the limit of the conceptual open pit that defines the current mineral resource estimate at Oculto and approximately 100 m northwest of the high-grade JAC zone.
• While DDH 23-075 represented the final drill hole at the main JAC zone as part of the phase 3 drill campaign, the company completed drilling of six additional holes at nearby exploration targets (namely JAC North, Alpaca and Fantasma):
• These results are expected to be received within the next few weeks and will help determine the highest-priority targets for the next phase of exploration.
• The phase 3 drill program has now been successfully completed. The company is preparing an updated MRE, which remains on schedule to be completed within the next few weeks, to be followed by a PFS on the Diablillos project.

On August 09, 2023, Abrasilver Resource Corp. has released the latest assay results from the phase 3 diamond drilling program on the company's wholly owned Diablillos property in Salta province, Argentina. Diamond drill hole 23-055, DDH 23-056 and DDH 23-064 were stepout holes drilled to the northwest of the JAC zone, which coincides with a northeast-to-southwest magnetic anomaly. The new holes intersected a promising new silver zone, called the JAC North zone. Key takeaways include:

• DDH 23-064 intersected a high-grade interval of 12 metres at 1,042 grams per tonne silver in oxides, starting at a down-hole depth of only 69 metres and including a six-metre interval grading 1,880 g/t Ag.
• The three reconnaissance holes were drilled to test one of several remaining untested targets indicated by magnetic anomalies located southwest of Oculto:
• The newly discovered JAC North zone is located over 900 metres beyond the limit of the conceptual open pit that defines the current mineral resource estimate at Oculto and approximately 100 metres northwest of the high-grade JAC zone.
• The new JAC North zone has the same geological characteristics as the JAC zone, namely that silver mineralization is concentrated in a highly fractured zone with pervasive alunite alteration and associated manganese oxides and follows a parallel structural trend.
• The initial drill intercepts of this newly identified zone are very encouraging, and follow-up work is planned as part of the next exploration drill campaign.

July 12, 2023, Abrasilver Resource Corp. has released the latest assay results from the company's Diablillos property in Salta province, Argentina, as well as the La Coipita project located in the San Juan province of Argentina. Highlights include:

• At JAC, results continue to encounter silver-rich intercepts outside the main mineralized zone, as drilling remains focused on determining the margins of the high-grade silver oxide mineralization.
• DDH 23-046 located in the northwestern part of the main zone encountered 3.0 metres at 2,070 g/t Ag and 0.27 g/t Au.
• DDH 23-050 intercepted 10.5 metres at 281 g/t Ag on the SE edge of the main zone.
• DDH 23-052 encountered 35.5 metres at 112 g/t Ag on the NW edge of the main zone from a downhole depth of only 41.0 metres.
• At La Coipita, hole DDHC 23-001 intersected a broad zone of continuous copper-molybdenum mineralization totaling 694m grading 0.16% Cu and 81 ppm Mo at the Yaretas target from a downhole depth of 548.0 metres. This large intersection demonstrates the substantial size potential of the Yaretas porphyry system.

John Miniotis, President and CEO, commented, "With the Phase III drill program nearing completion, we are very pleased that we continue to encounter wide intersections of silver mineralization beyond the main mineralized zone at JAC. The JAC zone features a highly attractive combination of scale, grade and continuity, which is expected to significantly enhance the economics of our Diablillos project. We look forward to receiving additional drill results and incorporating all the data into an updated Mineral Resource estimate later this year."

On June 26, 2023, Abrasilver Resource Corp. has released the latest assay results from the continuing phase 3 diamond drilling program on the company's wholly owned Diablillos property in Salta province, Argentina.

Drilling is now aimed at determining the margins of the high-grade silver oxide mineralization at the JAC zone, in preparation for a mineral resource estimate to be released later this year.

Key takeaways from the latest JAC zone drill results include:

• Diamond drill hole 23-030 was drilled to test the southwest area of the JAC zone. The hole encountered 28.3 metres grading 76.3 grams per tonne silver from a down-hole depth of 93.7 metres.
• DDH 23-032 was drilled beyond the northwest area of JAC, toward the Alpaca target. The hole intersected multiple zones of silver mineralization in oxides, including 24.5 metres at 176.7 g/t Ag from 131.0 metres down hole:
• Follow-up drilling in this area will be conducted to test for a possible new perpendicular zone of mineralization beyond the JAC zone, which coincides with a magnetic low.
• DDH 23-033 was drilled in the far southwest area of the JAC zone and intersected 14.0 metres grading 193.0 g/t Ag from 125.5 metres down hole.
• DDH 23-036 was drilled to test the southwest area of the JAC zone. The hole intersected several zones of silver mineralization, including 10.0 metres grading 520.0 g/t Ag, and a separate zone of 4.5 metres grading 496.8 g/t Ag.
• DDH 23-039 was drilled to test the southeastern area of the JAC zone and intersected 19.0 metres grading 253.4 g/t Ag, starting from a down-hole depth of 105.0 metres.
• DDH 23-044 was drilled along the southeastern area of the JAC zone and intersected 20.0 metres grading 112.5 g/t Ag, starting from a down-hole depth of only 73.0 metres.

John Miniotis, president and chief executive officer, commented: "Today's drill results continue to grow the mineralized footprint of the new JAC zone in several directions. In addition, these results demonstrate continuity of silver mineralization beyond the main JAC zone, highlighting the potential for additional silver mineral resources in new target areas, like the Alpaca target."

On June 01, 2023, Abrasilver Resource Corp. has released positive preliminary metallurgical test results for the new JAC zone at its wholly owned Diablillos property in Salta province, Argentina. The program was completed by independent metallurgical consultants, SGS Canada Inc., at their testing facilities in Lakefield, Ontario.

Key Highlights Include: Overall recoveries at the JAC and Fantasma deposits range between 86% - 93% for silver and 82% - 91% for gold.

A substantial percentage of the silver at JAC can be recovered by gravity separation which increases overall recoveries.

Current testwork confirms that the same process flowsheet can be used to process mineralization from the Oculto, JAC and Fantasma deposits.

Milling tests have shown that 150 microns is the targeted grind size for the leaching of the mineralized material at a retention time of 36 hours.

Overall silver and gold recoveries could likely be increased further by grinding finer and with higher cyanide concentrations. Further metallurgical testwork and trade-off studies are now underway.

On May 25, 2023, Abrasilver Resource Corp. has released the latest assay results from the continuing phase III diamond drilling program on the company's wholly owned Diablillos property in Salta province, Argentina. The company's phase III program is being increased as mineralization at the JAC zone remains open. Drilling at the JAC zone continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths, as well as underlying copper and silver mineralization in sulphides. It drilled 17 metres at 829 G/T and 70 metres at 238 G/T Ag.

Notably, drill hole DDH 23-029 encountered silver mineralization in oxides to the west of the main JAC mineralized zone, which was drilled to test an extension of the magnetic anomaly associated with the mineralization at JAC. This mineralization is hosted in granitic basement rocks under the andesite volcanics and, consequently, opens up potential for further mineralized zones. Additionally, the JAC zone continues to remain open along strike toward the southwest and in other directions.

On May 04, 2023, Abrasilver Resource Corp. has released its latest diamond drilling assay results from the continuing phase 3 exploration program on the company's wholly owned Diablillos property in Salta province, Argentina.

Drilling at the JAC zone continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths, as well as underlying copper and silver mineralization in sulphides. The JAC zone remains open along strike toward the southwest and in other directions. It drilled 32 m of 579.9 g/t AgEq at Diablillos.

John Miniotis, president and chief executive officer, commented: "Our drill results continue to encounter multiple thick intercepts of oxide silver in virtually every hole as we increase confidence and extend the size of the new high-grade JAC discovery. The JAC zone features a highly attractive combination of scale, grade and continuity, which is expected to significantly increase the economics of our Diablillos project. We look forward to additional drill results and incorporating all the data into an updated mineral resource estimate later this year."

On April 13, 2023 Abrasilver Resource Corp. has filed its audited annual consolidated financial statements for the years ended Dec. 31, 2022, and Dec. 31, 2021, related management's discussion and analysis, and annual information form of the year ended Dec. 31, 2022. Copies of the annual filings can be viewed on the company's SEDAR page.

In connection with the Ontario Securities Commission's review of the company's preliminary base shelf prospectus filing, the OSC staff requested certain corrective disclosures be made by the company in the annual filings.

On April 13, 2023, Abrasilver Resource Corp. has released its latest diamond drilling assay results from the continuing phase 3 exploration program on the company's wholly owned Diablillos property in Salta province, Argentina.

Drilling at the JAC zone discovery continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths. Drilling to date at the JAC zone has defined oxide mineralization extending approximately 800 metres along strike, up to 150 m wide and extending to a depth of 200 m. The zone continues to remain open along strike toward the southwest and in other directions. Key takeaways from the latest JAC zone drill results include:

• Diamond drill hole 23-011 was drilled to test the northeastern extension of mineralization at the JAC zone and intersected 36.0 metres grading 96.9 grams per tonne silver and 0.28 g/t gold in oxides from 128.5 metres down hole.
• DDH 23-012 was drilled on the northern margin of the area drilled and intersected 14.0 metres at 72.1 g/t Ag from a down-hole depth of 97.0 metres.
• DDH 23-013, located in the southwestern part of the drill target area, intersected two separate zones of silver mineralization in oxides, including 30.5 metres grading 133.3 g/t Ag from 81.5 metres down hole.
• DDH 23-014, located in the northeastern part of the drill target area, encountered high-grade silver mineralization in oxides, intersecting 46.5 metres grading 185 g/t Ag and 0.5 g/t Au from a depth of 127.0 metres, including eight metres at 439.3 g/t Ag and 1.28 g/t Au.

On March 29, 2023, Abrasilver Resource Corp. has released assay results for its latest diamond drill holes from the continuing phase 3 program on the company's wholly owned Diablillos property in Salta province, Argentina. High-grade, shallow silver oxide mineralization continues to be intersected at the JAC zone, as well as high-grade silver associated with copper in the underlying oxide/sulphide transition zone. Key takeaways from the latest drill results include:

• Diamond drill hole 23-010 intersected numerous zones of silver mineralization in oxides, including 45.5 metres at 233 grams per tonne silver starting at a down-hole depth of 132 metres:
• Additionally, the hole encountered 1.5 metres at 485 g/t Ag, 1.7 per cent copper and 0.28 g/t gold in the oxide/sulphide transition zone.
• DDH 23-009 encountered several zones of silver mineralization in oxides, including 8.5 metres grading 479 g/t Ag from 161 metres down hole:
• High-grade mineralization was also encountered in the oxide/sulphide transition zone, with 4.5 metres at 519 g/t Ag, 0.31 per cent Cu and 0.16 g/t Au.
• DDH 23-007 drilled into very-high-grade silver mineralization in oxides, with 2,320 g/t Ag over four metres starting at a down-hole depth of 115 metres. This high-grade interval demonstrates that there are zones within the JAC system that will raise the overall grade of the mineral resource.

On March 14, 2023, Abrasilver Resource Corp. has released assay results from its latest diamond drill holes from the continuing phase 3 program on the company's wholly owned Diablillos property in Salta province, Argentina.

Hole DDH 23-004 encountered the all-time highest-grade silver intercept recorded on the entire Diablillos project to date. Key takeaways from hole DDH 23-004 include:

• DDH 23-004 intersected a broad zone of exceptionally high-grade silver mineralization in oxides, with 14 metres at 3,025 grams per tonne silver and 0.21 g/t gold, starting from a down-hole depth of 136 metres. This represents the best intercept to date on the new JAC zone on a grade-thickness basis.
• The hole also intersected the all-time highest-grade silver intercept recorded on the Diablillos project, with 32,481 g/t Ag and 0.74 g/t Au over one metre.
• This shallow, oxide-hosted mineralization is located in a band approximately 50 metres north of the main trend of silver mineralization in the JAC zone and appears to be in a separate zone of high-grade silver mineralization.
• Drilling results received so far indicate that there are three distinct, parallel zones of silver mineralization within the JAC zone, with the recently intersected north zone hosting very-high-grade silver.

On February 27, 2023, Abrasilver Resource Corp. has released assay results from four additional diamond drill holes from the continuing phase III program on the company's wholly owned Diablillos property in Salta province, Argentina.

All four holes were drilled at the new Jac zone. Key take-aways from the latest drill results include:

• DDH 22-083 intersected a broad zone of high-grade silver mineralization in mixed oxides and sulphides, with 25.0 metres at 774 grams per tonne silver, 0.28 gram per tonne gold and 1.36 per cent copper starting from a downhole depth of 159 metres. The interval contained high-grade copper with associated silver mineralization in sulphide-bearing feeder structures near the base of the hole.
• DDH 22-086 encountered high-grade silver and copper in sulphides containing 9.0 metres at 342 grams per tonne silver and 1.55 per cent copper, directly beneath an oxide zone of 5.0 metres grading 282 grams per tonne silver;
• DDH 23-002 intersected high-grade silver mineralization in an oxide/sulphide transition zone, with 17.0 metres at 289 grams per tonne silver, including bonanza grades of 2,029 grams per tonne silver and 2.09 grams per tonne gold over 1.0 metre;
• DDH 23-083 encountered multiple zones of silver mineralization in oxides and 5.8 metres at 502 grams per tonne silver and 0.26 per cent copper in sulphides starting at 156 metres downhole.

On February 21, 2023, Abrasilver Resource Corp. has expanded the continuing phase III drill program on the company's wholly owned Diablillos property in Salta province, Argentina. The phase III drill program is now expected to consist of approximately 22,000 metres of diamond drilling, up from 15,000 metres, using two diamond drill rigs. Phase III drilling is designed to delineate a maiden mineral resource estimate on the recently discovered JAC zone, located several hundred metres southwest of the conceptual open pit that constrains the current mineral resource estimate on the main Oculto deposit. Additional drill holes are required as mineralization at the JAC zone remains open in most directions.

To date, the company has completed approximately 12,200 metres of drilling in 60 holes as part of the phase III program. The expanded program is expected to be completed in July, 2023, and will be followed by an updated mineral resource estimate (MRE) and a prefeasibility study (PFS) on the Diablillos project in Q4 2023.

On February 06, 2023, Abrasilver Resource Corp. has released assay results from six additional diamond drill holes from the continuing phase III program on the company's wholly owned Diablillos property in Salta province, Argentina.

Drilling activity remains focused on the recently discovered Jac zone, which is located several hundred metres southwest of the conceptual open pit that constrains the current mineral resource estimate on the main Oculto deposit (measured and indicated mineral resource estimate containing 1.3 million ounces gold and 109 million ounces silver) It drilled 26.5 m of 347 g/t AgEq at Diablillos.

On January 17, 2023, Abrasilver Resource Corp. has released assay results from its latest diamond drill holes from the continuing phase III program on the company's wholly owned Diablillos property in Salta province, Argentina. Record-grade intercept located at new JAC target, part of broader intercept of 2,498 grams per tonne (g/t) silver equivalent (AgEq) over 8.5 metres (m). The company intersected highest grade silver intercept of all-time at Diabillos: 12,581 G/T silver and 44.5 G/T gold (16,225 G/T AGEQ) over 1 metre.

On January 10, 2023, Abrasilver Resource Corp. has discovered a new high-grade feeder structure at the recently discovered Southwest zone (JAC target), located several hundred metres beyond the current mineral resource estimate on the main Oculto deposit at the company's Diablillos projec.

Hole DDH 22-067 encountered the highest-grade intercept to date, on a silver-equivalent basis, at the JAC target, with 871 g/t AgEq over 27m in sulphide mineralization. That interval is located immediately beneath a further high-grade oxide intercept grading 522 g/t AgEq over 36m .

On December 19, 2022, The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Nov. 29, 2022.

Number of shares: 27,027,000 shares

Purchase price: 37 cents per share

Warrants: 13,513,500 share purchase warrants to purchase 13,513,500 shares

Warrant exercise price: 50 cents for a two-year period

Number of placees: 46 placees

Total existing insider involvement: 190,000 (two placees)

On December 15, 2022, Abrasilver Resource Corp. has released new assay results from five diamond drill holes from the continuing 15,000-metre phase III exploration drilling program on the company's wholly owned Diablillos property in Salta province, Argentina.

Drilling activity remains focused on the recently discovered Southwest zone (JAC target) which is located several hundred metres southwest of the conceptual open pit that constrains the current mineral resource estimate on the main Oculto deposit. Key takeaways from the latest drill results include:

• Hole DDH 22-060 intersected a broad zone of silver mineralization in oxides, consisting of 40 metres grading 203 grams per tonne silver from 114 to 154 metres, including 15 metres at 483 g/t Ag.
• DDH 22-061 intersected a wide zone of silver mineralization in oxides consisting of 103 metres grading 139 g/t Ag starting at a down-hole depth of only 65 metres, including nine metres grading 477 g/t Ag and 0.23 g/t gold.
• DDH 22-062 intersected 51 metres grading 169 g/t Ag and 0.20 g/t Au from 119 to 170 metres, including 7.5 metres with 507 g/t Ag and 0.22 g/t Au. Drilling also encountered 45 metres grading 1.34 per cent copper and 33 g/t Ag in the underlying sulphide zone.
• DDH 22-063 encountered multiple zones of silver mineralization, including 33 metres grading 143 g/t Ag starting from only 56 m down hole. Drilling also intersected 34 metres grading 119 g/t Ag and 0.08 g/t Au starting at a down-hole depth of 135 metres.

On December 06, 2022, Abrasilver Resource Corp. has closed its previously announced underwritten private placement financing, including the exercise in full of the underwriters' option. Pursuant to the offering, the company issued an aggregate of 27,027,000 units for gross proceeds of $9,999,990.

Each unit, priced at 37 cents per unit, consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share at an exercise price of 50 cents until Dec. 6, 2024.

The company intends to use the net proceeds of the offering: (i) to complete the continuing phase 3 drilling program on the Diablillos project in the Salta province of Argentina; (ii) to commence and complete a drilling program on the La Coipita project in the San Juan province of Argentina; (iii) to satisfy the company's mineral interest commitments for the Diablillos project and the La Coipita project; and (iv) for working capital purposes, as further described in the company's offering document under the listed issuer financing exemption dated Nov. 29, 2022.

November 29, 2022, AbraSilver Announces $8 Million "Bought Deal" Private Placement

November 28, 2022, AbraSilver Reports 2022 Third-Quarter Results

November 22, 2022, AbraSilver Drills 499 g/t Silver Over 20 Metres, Including 1,261 g/t Silver Over 7 Metres in New Southwest Zone at Diablillos

November 9, 2022, AbraSilver Continues to Intersect High-Grade, Near-Surface Silver Mineralization in New Southwest Zone Including 25 Metres of 754 g/t Silver https://www.abrasilver.com/news-releases/abrasilver-continues-to-intersect-high-grade-near-surface-silver-mineralization-in-new-southwest-zone-including-25-metres-of-754-gt-silver

November 3, 2022, AbraSilver Announces New Mineral Resource Estimate with Over 215Moz AgEq at DiablillosM&I Mineral Resource Estimate Increased to 51.3Mt at 66 g/t Ag and 0.79 g/t Au & Does Not Include New High-Grade Silver Discovery in Southwest Zone at Diablillos https://www.abrasilver.com/news-releases/abrasilver-announces-new-mineral-resource-estimate-with-over-215moz-ageq-at-diablillos

  Disclaimer

Copyright (c) 2000 - 2025 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印