Table 1 - Drill Result Highlights:
Drill Hole | From | To (m) | Type | Interval | True | Au | Ag | AgEq1 | |
DDH-19-001 | 166 | 231 |
Oxides | 65.0 |
54 | 0.2 | 104.9 | 102 | |
DDH-19-001 | including | 201 | 204 | Oxides | 3.0 | 2 | 0.3 | 345.5 | 307 |
DDH-19-002 | 56 | 78 | Oxides | 22.0 | 18 | 2.7 | 16.8 | 220 | |
DDH-19-002 | 137.5 | 155 | Oxides | 17.5 | 14.6 | 0.1 | 603.9 | 504 | |
DDH-19-002 | 242 | 257 | Oxides | 15.0 | 12.5 | 10.4 | 285.7 | 1,017 | |
DDH-19-002 | including | 250 | 257 | Oxides | 7.0 | 5.8 | 20.6 | 202.1 | 1,715 |
DDH-19-002 | 367 | 376 | Sulphides | 9.0 | 4.5 | 7.3 | 48.9 | 589 |
1 AgEq is calculated based on a gold to silver ratio of 75:1 and assumes average LoM recoveries of 86% Au and 82% Ag from the 2018 PEA. For example, Silver Equivalent grade = (Ag grade * 82%) + (Au grade x 75 * 86%). |
The highlight drill intercepts are shown on cross sections in Figures 1, 2 and 3. A summary table of the full assay results from both drill holes is set out in Annex I.
Table 2 - 2018 Mineral Resource Estimate for the Oculto Deposit,
Category | Tonnage | Ag | Au | Contained Ag | Contained Au |
Indicated | 26,900 | 93.0 | 0.85 | 80,300 | 732 |
Inferred | 1,000 | 46.8 | 0.89 | 1,505 | 29 |
Effective
Hole DDH 19-002 Extends High Grade Gold Mineralization
The majority of the 85,000 metres drilled to date on the Oculto Deposit have targeted the volcanic rocks and the unconformity above the basement rocks, where the vast majority of mineralization is in oxides. Very little drilling has been done in the basement rocks, despite hydrothermal breccias associated with the mineralization projecting into the basement. Hole DDH 19-002 was designed to test for continuation of high grade gold mineralization in a hydrothermal breccia (the "West Breccia") beneath twinned holes DDH 97-007A and RC-97-053. DDH-97-007A intersected 27.6 metres grading 8.24 g/t gold from 204.05 metres and 9.65 metres grading 1.97 g/t gold from 291.6m while RC-97-053 intersected 24 metres grading 2.69 g/t gold from 160 metres and 6 metres grading 7.81 g/t gold from 286m. DDH 19-002 was drilled to a total depth of 464 metres and intersected additional gold mineralization of 9.0 metres grading 7.31 g/t gold with 48.9 g/t silver from 367.0 metres approximately 25 metres from the lower intercepts in DDH-97-007A and RC-97-053 (see Figures 1, 2 & 3). The deeper mineralization is associated with a sulphide rich, siliceous breccia, and is open at depth. Future mineralogical and metallurgical testwork will be required to estimate precious metals recoveries in the sulphide zone.
In addition to extending mineralization at depth, drill hole DDH 19-002 encountered several other high grade silver and gold intercepts that infill the current pit constrained mineral resource (see Figures 1, 2 and 3). An intercept of 22.0 metres grading 2.74 g/t gold from 56.0 metres confirms a shallow upper gold zone. Further down the hole, a 17.5 metre intercept grading 603.9 g/t silver from 137.5 metres is within the upper silver zone, which is interpreted as an oxide enrichment zone concentrated along structures.
In the lower gold zone, a shallowly dipping tabular body developed in the volcanics near the basement unconformity, high grade gold mineralization was confirmed to the north of hole DDH 97-007A (27.7 metres grading 7.87 g/t gold) in DDH 19-002 with a 15.0 metre intercept grading 10.42 g/t gold and 285.7 g/t silver (1,066 g/t silver-equivalent) from 242.0 metres, including 7.0 metres grading 20.64 g/t and 202.1 g/t silver (1,750 g/t silver-equivalent) from 250 metres.
Hole DDH 19-001
Hole DDH 19-001, was drilled to a depth of 380 meters to test the depth extent of the Main and Cross Breccias. The shallower silver intercepts encountered in hole DDH 19-001 support the estimated silver resource from oxide mineralization and the deeper gold intercepts are associated with sulphides in veins and fractures in altered granitoid rocks.
Drill Plan Objectives and Next Steps
The objectives of the current drilling program include the following:
- Evaluate the potential to expand the high-grade gold mineralization both along strike and beneath the existing known resource into the basement rocks.
- Provide additional information on the existing silver resource and evaluate the likelihood of potentially increasing the grade of the known resource.
- Test for gold sulphide exploration targets beneath the silver-gold oxide zone.
The current drill program is expected to consist of approximately seven or eight diamond holes totaling approximately 3,000 meters. A third hole, DDH 20-001, was recently completed down to a depth of 359 meters, and assay results will be issued as they are received and interpreted. Given the results from the first two holes, the Company is in the process of reviewing and interpreting the new information before selecting the next batch of drill targets. Based on the high grade intercepts encountered in DDH 19-002, the priority area for resource expansion will be step-out drilling along strike from that hole (Figure 4).
About Diablillos
The 80 km2 Diablillos property is located in the Argentine Puna region - the southern extension of the Altiplano of southern
QA/QC and Core Sampling Protocols
AbraPlata applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company's geologists in accordance with industry practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to measure sample representivity. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.
All samples are received by the SGS offices in Salta who then dispatch the samples to the SGS preparation facility in San Juan. From there, the prepared samples are sent to the SGS laboratory in
Qualified Persons
ANNEX 1 – Drill Result Summary of Holes DDH 19-001 and DDH 19-002
Drill Hole | From (m) | To (m) | Intercept (m) | Thickness (m) | Ag (g/t) | Au (g/t) | AgEq (g/t)1 |
DDH 19-001 | |||||||
166.0 | 231.0 | 65.0 | 54.20 | 104.9 | 0.2 | 102 | |
including | 201.0 | 204.0 | 3.0 | 2.50 | 345.5 | 0.3 | 307 |
302.0 | 312.0 | 10.0 | 8.0 | 9.9 | 0.08 | 15 | |
326.0 | 327.0 | 1.0 | 0.83 | 48.4 | 0.93 | 110 | |
353.0 | 354.0 | 1.0 | 0.83 | 15.1 | 6.93 | 533 | |
DDH 19-002 | |||||||
56.0 | 78.0 | 22.0 | 18.33 | 16.8 | 2.74 | 220 | |
including | 57.0 | 60.0 | 3.0 | 2.50 | 103.8 | 2.91 | 304 |
137.5 | 155.0 | 17.5 | 14.58 | 603.9 | 0.1 | 504 | |
180.0 | 200.0 | 20.0 | 16.67 | 140.2 | 0.03 | 118 | |
242.0 | 257.0 | 15.0 | 12.50 | 285.7 | 10.42 | 1,017 | |
including | 250.0 | 257.0 | 7.0 | 5.83 | 202.1 | 20.64 | 1,715 |
367.0 | 376.0 | 9.0 | 4.50 | 48.9 | 7.31 | 589 | |
including | 371.0 | 376.0 | 5.0 | 2.50 | 16.7 | 11.27 | 860 |
369.0 | 400.0 | 31.0 | 25.00 | 24.7 | 2.27 | 191 | |
438.0 | 450.0 | 12.0 | 6.00 | 24.2 | 0.47 | 56 |
1 AgEq is calculated based on a gold to silver ratio of 75:1 and assumes average LoM recoveries of 86% Au and 82% Ag from the 2018 PEA. For example, Silver Equivalent grade = (Ag grade * 82%) + (Au grade x 75 * 86%). |
Collar Data
Hole Number | UTM Coordinates | Elevation | Azimuth | Dip | Depth | |
DDH 19-001 | X 720293 | Y 7199273 | 4315 | 0 | -60 | 380 m |
DDH 19-002 | X 720295 | Y 7199404 | 4300 | 0 | -60 | 464 m |
About AbraPlata
AbraPlata is focused on exploring and advancing its flagship Diablillos silver-gold property. In addition, AbraPlata owns the Arcas project in
Cautionary Statements
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
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