High-grade ore discovered at Diablillos Gold-Silver Mine in Argentina

According to a report on Mining.com, AbraSilver Resource announced that it had encountered the "best ore intersection" to date at the Diablillos gold-silver project in Salta Province, north-west Argentina.

Drill hole DDH25-024, targeting the extension of the Oculto deposit, intersected 31 meters of ore at 88 meters depth, with a gold grade of 10 g/t and a silver grade of 16 g/t. Within this intersection, 6 meters of ore was encountered outside the eastern edge of the designed open pit, with a gold grade of 41.9 g/t and a silver grade of 22 g/t.

The mine is located in the high-altitude Puna region of Salta Province.

"The unexpected intersection in hole DDH25-024 clearly indicates the extension of high-grade ore bodies on the periphery of Oculto," CEO John Miniotis stated in a press release.

"Currently, three drilling rigs are operating across the Diablillos project area. We are entering a new phase of exploration growth aimed at creating more value for shareholders, while we proceed with the final feasibility study."

Analysis and research are progressing smoothly.

Five months ago, AbraSilver Resource released similar high-grade assay results. Over the past five months, the company has achieved fruitful outcomes and increased the project's net present value by 50% in the latest pre-feasibility study.

These results, based on 21,190 meters of drilling, will be used for a resource update expected to be released in July.

Drill hole DDH25-024 intersected 13 meters of ore with a silver grade of 307 g/t, as well as 8 meters of mineralization with a silver grade of 446 g/t.

Another notable assay result was from drill hole DDH-25-021, which intersected 5 meters of ore at 26 meters depth, with a silver grade of 92.5 g/t.

Additional Oculto Drilling

AbraSilver Resource stated that the Oculto East mineralization appears to be structurally controlled and is located within the same breccia body that hosts the main Oculto deposit. The high-grade gold zone begins at 324 meters depth but is located 200 meters vertically below the surface due to the topography. The company plans to drill and verify the downward extension of the shallow, high-grade silver-gold zone.

Follow-up drilling at Oculto East is set to commence shortly, aiming to determine the extension of the high-grade ore body and assess its significance for future development.

According to the 2024 resource update, the Diablillos project has proven and probable ore reserves of 42.3 million mt, with a silver grade of 91 g/t and a gold grade of 0.81 g/t, containing 123.5 million ounces of silver and 1.1 million ounces of gold.