AbraPlata Resource Corp. (TSX.V:ABRA) (OTCQB:ABBRF) (Frankfurt:1AH)
("AbraPlata" or the "Company") is pleased to report results of the
second batch of samples received from SGS laboratories for holes
DDH-17-132, DDH-17-133, and DDH-17-134 recently completed at the
Fantasma Mineralized Zone on its Diablillos property (Figure
1).
Drill hole DDH-17-134 (Figure 2), which was
collared 70m SE of hole DDH-17-128 (subject of news release
dated August 1, 2017), intersected 193.7g/t Ag
over 11m (from 92m – 103m down the hole), including
348.8g/t Ag over 5m (from 93m – 98m) in which a
single sample returned 795g/t Ag over 1m.
Additional mineralization was intersected further down the hole
grading 102.7g/t Ag over 19m (from 133m – 152m),
including 2m at 330.0g/t Ag (Figure 3).
DDH-17-134 was angled at -60° along an azimuth of 045°, and
was designed to test steeply- to vertically-dipping mineralization
striking NW-SE.
“Not only are we pleased to receive further
confirmation of the tenor of mineralization at Fantasma, but a
clearer picture of the control to the epithermal mineralization at
Diablillos is emerging,” commented AbraPlata’s Executive Chairman,
Hernan Zaballa. “Furthermore, the drilling to date is indicating
that the grades at Fantasma may be improving towards the SE and in
the direction of Oculto; and this, in turn, highlights the
considerable potential for the addition of further resources to the
resource picture at Oculto from the Fantasma and Laderas zones, as
well as from the immediate environs of Oculto itself – particularly
in the S where mineralization is still open. We will continue
to report on the results of this drilling as the assays become
available from the laboratory and after the data have been compiled
and analyzed.”
Fantasma
The Fantasma Mineralized Zone is one of eight
mineral occurrences on the property (Figure 1), and lies some 600m
west of the Oculto orebody which currently hosts all the indicated
resources reported for the property to date (see 43-101 Technical
Report dated November 2, 2016 prepared by Roscoe Postle Associates
Inc which is filed under the Company’s profile on SEDAR).
Silver-rich mineralization at Fantasma outcrops at surface beneath
a thin veneer of alluvium, and was identified by SSR Mining in 2012
from sampling done in five trenches over the Fantasma area.
They followed up with four diamond drill holes angled at -60°
(Figure 3), and intersected mineralization in all four holes.
This mineralization, initially, appeared to be confined to two
gently dipping, stacked layers some 20m and 10m in thickness
respectively as indicated by hole DDH-12-126 which intersected
24.1m @ 117.6g/t Ag in the upper zone and 11.7m @ 185.6g/t Ag in
the lower zone. This hypothesis also found some support in
the Oculto deposit model where the mineralization appears to be
confined to a flattened prolate body fed by vertically-orientated
feeder structures. However, AbraPlata’s hole DDH-17-128
(Figure 3), which was drilled vertically and intersected
mineralization grading 98.3g/t Ag over 52.0m, also intersected a
number of vertically-oriented, vuggy quartz veins. Moreover,
AbraPlata’s vertical holes DDH-17-129, DDH-17-130, and DDH-17-131,
which were located some 50m due S, 70m SW, and 50m W of DDH-17-128
respectively (Figure 2), did not intersect mineralization and/or
alteration suggesting that either: a) the gently dipping,
stacked, mineralized layers do not extend to the S and SE; or, and
more likely, b) vertical structural control is more important at
Fantasma, and appears to be striking in an NW-SE direction.
DDH-17-132 and DDH-17-133 were collared some
100m due W and 110m WNW of DDH-17-128 respectively, and were
designed to test alteration/mineralization along strike in a WNW
direction as indicated by a previous reverse circulation hole,
DAR-90-51, drilled by BHP Billiton in 1990 (Figure 2).
This hole returned results of 47.4g/t Ag over 8m (from
10m – 18m), 46.3g/t Ag over 3m (from 46m – 49m), and 43.8m over 3m
(from 105m – 108m). DDH-17-132 was angled at -60° along an azimuth
of 045°, while DDH-17-133 was angled at -60° along an azimuth of
225° (Figure 4). DDH-17-132 intersected 58.1g/t Ag
over 11.35m (from 52m – 63.35m), including
108.5g/t Ag over 2m (from 53m – 55m), and
DDH-17-133 intersected 42.2g/t Ag over 7m (from
71m – 78m).
Mineralization is associated with a silicified
zone, and best results typically report with the banded and/or
vuggy veins (Figure 5). A zone of argillic alteration
surrounds the silicified core; and, the argillic zone may or may
not have values associated with it.
The proximity of the Fantasma mineralization to
the Oculto deposit is clearly shown in Figure 6.
Sampling Procedures & Quality
Control 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 Lima, Peru where they are analyzed. All samples
are analyzed using a multi-element technique consisting of a four
acid digestion followed by ICP/AES detection, and gold is analyzed
by 50g Fire Assay with an AAS finish. Silver results greater
than 100g/t are reanalyzed using four acid digestion with an ore
grade AAS finish.
An independent party has been appointed to
review and report on the QA/QC program at the project.
Qualified Person
Willem Fuchter, PhD PGeo, President & CEO of
AbraPlata Resource Corp. and a qualified person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects, has reviewed and approved the scientific and technical
information contained in this news release.
About AbraPlata
Abraplata is a junior mining exploration company
focused on delivering shareholder returns by unlocking mineral
value in Argentina. The Company's experienced management team
has assembled an outstanding portfolio of gold, silver and copper
exploration assets, and is focused on advancing its flagship
Diablillos property, with an indicated resource of 81.3m oz Ag and
755k oz Au, through the various stages of feasibility. In
addition, AbraPlata owns the highly prospective Cerro Amarillo
property with its cluster of five mineralized Cu-(Mo-Au) porphyry
intrusions located in a mining camp hosting the behemoth El
Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits.
Further exploration work is also planned for the Company’s Samenta
porphyry Cu-Mo property south of First Quantum’s TacaTaca project
as well as its Aguas Perdidas Au-Ag epithermal property.
ON BEHALF OF THE BOARD ABRAPLATA RESOURCE
CORP.
"Willem Fuchter"
Willem Fuchter President & Chief Executive Officer
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 TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information about AbraPlata and its
projects, please visit the Company’s website at
www.abraplata.com.
A PDF accompanying this release is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/d8a8be9a-f8a0-4cf1-b244-6fcdf6dfd33e
For further information concerning this news release, please contact:
Willem Fuchter
President & Chief Executive Officer
AbraPlata Resource Corp.
Tel: +54.11.5258.0920
E-mail: willem@abraplata.com
Karl Cahill
VP Investor Relations
AbraPlata Resource Corp
Tel: +1.858.531.6100
Email: karl@abraplata.com
Abra Silver Resource (TSXV:ABRA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abra Silver Resource (TSXV:ABRA)
Historical Stock Chart
From Jul 2023 to Jul 2024