AbraPlata defines gold-rich zone with up to 16.7g/t Au over 10.6m in the basement at its Diablillos property in Argentina
November 14 2017 - 8:45AM
AbraPlata Resource Corp (TSX.V:ABRA) (OTCQB:ABBRF)
(Frankfurt:1AH) ("AbraPlata" or the "Company") is pleased to
announce that, following a comprehensive review of the geology and
drill core, the Company has defined a gold-rich zone located in the
lower part of the Oculto Ag-Au deposit in the southern half of the
Diablillos property (Figure 1). This zone (Figure 2) is
centered on drill hole DDH-97-007A (Figure 3) which
intersected
2.7g/t Au & 15.6g/t Ag
over 108m (from 197.2m down the hole), including
16.7g/t Au & 39.2g/t Ag
over
10.6m (from 210m to 220.6m) in which a single sample
returned
90.7g/t Au over 1.1m. The gold-rich
zone measures approximately 300m by 50m (Figure 2), and lies both
within the “regolith” breccia and below it in the basement (Figures
4 & 5), which has not been extensively drill tested.
Furthermore, the zone is coincident with the recently identified
structure that controls both the geometry and overall NE-SW trend
of the Oculto deposit as a whole (Figure 2 and 5).
“The recent review of the drilling results by
our consultant geologist has resulted in a new appreciation of the
extent and grade of the gold-dominant mineralization in the
basement rocks of the Oculto deposit,” commented AbraPlata’s
Chairman, Hernan Zaballa, adding that: “The higher grades and
large width of this zone highlights the considerable potential for
delineating additional gold-rich resources in Oculto and the
Company plans to drill new holes into this zone in the near
future.”
Metal zonation within the mineralized zones at
Oculto ranges from Au (or Au-Cu) in the feeder veins in the
basement rocks to Au-Ag and then Ag-Au in the bulk of the
disseminated body hosted by the overlying volcanics to Ag-only
higher up in the sequence. It is also clear from mapping
outcrop and road cut and/or drill pad exposures that there is a
strong structural control on mineralization and associated
alteration, and that most of these control structures trend NE-SW
and have near vertical dips. Both gold and silver mineralization
appears to expand spatially where the steeply dipping structures
intersect the basement/volcanic contact (Figure 5). In some
cases, this expansion is also coextensive with a “regolith”
conglomerate on the basement contact. However, this blanket
appears to be dramatically thickened in a NE-SW trending trough,
and is coincident with the dominant controlling structure and where
this intersects the basement contact. It is possible that the
regolith conglomerate is actually a misinterpretation of a
hydrothermal breccia at the contact of the basement and steeply
dipping control structures. In any case, this zone has a
strong influence on the enhancement of mineralization both
spatially and with respect to better gold grades (Figure 5).
The geological model cross-section shown in
Figure 5 provides an explanation with regard to the controls to the
gold-rich zone which is open to the NE and SW as well as at
depth. A planned drill program aims to delineate the extent
and grade of this gold-rich zone.
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 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 expanding and 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
For further information concerning this news
release, please contact:
Willem Fuchter |
Rob Bruggeman |
President &Chief
Executive Officer |
Investor Relations |
AbraPlata Resource
Corp. |
AbraPlata Resource
Corp. |
Tel:
+54.11.5258.0920 |
Tel:
+1.416.884.3556 |
E-mail:
willem@abraplata.com |
Email:
rob@alphaadvisory.ca |
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
and refer to the NI 43-101 technical report by RPA dated November
2, 2016, and titled "Technical Report on the Diablillos Project,
Salta Province, Argentina."
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