Canadian company AbraSilver Resource Corp. announced the commencement of a 20,000-meter diamond drilling program at its Diablillos project, located in a cooperation zone between Salta and Catamarca. This fifth phase of exploration aims to expand and update the mineral resource estimate on the property, following the positive results obtained in the previous phase.
By Panorama Minero
The fully-funded program includes approximately 90 drill holes using three diamond drill rigs and is expected to be completed by December 2025. The company anticipates an updated mineral resource estimate by mid-2025.
Drilling efforts will focus on the Oculto-JAC epithermal district, covering targets such as the JAC south extension, Sombra, Oculto Northeast, Oculto East, Oculto West, and Laderas. Additionally, exploration will extend to the northeast epithermal-porphyry complex, located about four kilometers from the main Oculto deposit, with a particular focus on the newly identified Cerro Viejo gold target, an underexplored area.
Following the strong results from our Phase IV drilling program and a
highly successful capital raise, we are excited to initiate this next
phase of exploration at Diablillos," said John Miniotis, President and
CEO of AbraSilver. "With multiple high-grade targets and a robust
financial position, we remain well-positioned to continue generating
long-term value for our shareholders.
Dave O’Connor, Chief Geologist, highlighted that the program is designed to systematically expand known mineralized zones and assess new high-potential exploration targets. "In particular, the Cerro Viejo epithermal system has the potential to become a significant discovery within the Diablillos district," he stated.
Drilling activities have already commenced with two rigs currently operating, and a third rig is expected to arrive in the coming weeks.
Meeting with the Government of Catamarca
In parallel with the exploration campaign, AbraSilver executives met with Catamarca Governor Raúl Jalil to present the latest developments at the Diablillos project, located in a cooperation zone between the provinces of Catamarca and Salta. During the meeting, the company outlined the next steps toward the project’s feasibility stage, with an investment decision for construction expected by mid-2026.
Additionally, AbraSilver announced its intention to apply for the Large Investment Incentive Regime (RIGI), projecting an investment of approximately US$550 million and the creation of over 1,200 jobs during the project's construction and operational phases.
