Phase V Results To Be Incorporated into Updated Mineral Resource Estimate and DFS.
By Panorama Minero
AbraSilver Resource Corp. announced the commencement of the Phase VI diamond drilling program at its wholly-owned Diablillos project, together with additional assay results from the recently completed Phase V drill program.
Phase VI Drill Program Highlights
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Fully-funded 15,000-metre Phase VI diamond drilling program is designed to expand and upgrade the existing Mineral Resources and evaluate high-priority exploration targets;
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Primary focus on extending gold and silver mineralization beyond current conceptual open pit limits at Oculto East, Oculto Northeast, Cerro Bayo and JAC;
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Targeted drilling also planned to assess sulphide-hosted and porphyry-style mineralization at Oculto Deep and Cerro Viejo;
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Phase VI results are expected to support continued Mineral Resource growth beyond those included in the upcoming Definitive Feasibility Study, which remains on schedule for release in Q2 2026 and will incorporate all data from the recently completed Phase V program.
John Miniotis, President and CEO, commented, “The successful completion of our Phase V drilling marks another important milestone for Diablillos. Phase V drill results will be incorporated into an updated Mineral Resource estimate (“MRE”) that will form the basis of the upcoming Definitive Feasibility Study (“DFS”). With Phase VI now underway, our exploration focus remains on unlocking additional upside beyond the DFS."
Dave O’Connor, Chief Geologist, commented, “Phase V delivered impressive intervals of gold mineralization extending beyond the conceptual open pit limits at Oculto East, underscoring the strength, continuity, and scale of the Diablillos mineralizing system. Phase VI has been carefully designed to build on this success – expanding known mineralized zones, upgrading Mineral Resources within and beyond the existing open pit, and testing several high-priority exploration targets across the district."
Phase VI Program Overview:
The Phase VI drill program is expected to comprise approximately 15,000 metres across approximately 50 diamond drill holes. Drilling activities have now commenced with two drill rigs active, and the program expected to be completed before year-end.
Drilling is designed to both expand and upgrade Mineral Resources within and beyond existing conceptual open pit limits, as well as to test high-priority exploration targets across the broader Diablillos district. The highest-priority targets are focused on extending oxide gold and silver mineralization at Oculto East, Oculto Northeast and Cerro Bayo, where recent drilling demonstrated strong continuity and potential to further expand open pit Mineral Resources and improve strip ratios.
The Phase VI program also includes drilling to evaluate the Condoryacu target, which represents a new exploration area where AbraSilver has recently entered into an option agreement to acquire the property from a third-party vendor. Condoryacu is located approximately 3 km south of the latest conceptual Oculto open pit and has not previously been drill-tested by AbraSilver. Initial drilling will focus on verifying historical exploration data and assessing the continuity, geometry and scale of the mineralization. Successful results from this work could support the exercise of the option and highlight the potential for additional satellite mineralization within the broader Diablillos district.
Phase VI drilling will also focus on JAC, Sombra and Fantasma, where additional drilling is designed to test for extensions of known mineralization and assess continuity between deposits. Collectively, the Phase VI program is expected to support continued Mineral Resource growth and longer-term exploration upside beyond the DFS.
Latest Phase V Drill Results
As part of the recently completed Phase V drill program, AbraSilver has received additional assay results from drilling at JAC, which will be incorporated into the upcoming MRE. Recent drilling at JAC was primarily aimed at delineating the margins of known mineralization. Results confirm that silver mineralization remains present at the periphery of the deposit, although grades decrease as we drill further away from the higher-grade core. The latest results are summarized in the following Table
About Diablillos
The Diablillos property is located within the Puna region of Argentina, in the southern part of Salta Province along the border with Catamarca Province, approximately 160 km southwest of the city of Salta and 375 km northwest of the city of Catamarca. AbraSilver acquired the property in 2016, which comprises 15 contiguous and overlapping mineral concessions with excellent year-round road access.
