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AbraPlata Resource Corp.
Summary
| Project: | Diablillos | |
|---|---|---|
| Deposit: | Oculto | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 8/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 2-8-2018: AbraPlata Resource Corp. announces an Exploration/Drilling Update report for its Oculto deposit at the Diablillos project. Historic drilling results incl. 34.0m @ 510g/t Ag, 4.55g/t Ag from 120.0m. BUENOS AIRES – August 2, 2018, - AbraPlata Reso | |
| Resources: | (Resource): 27.1Mt @ 93.1g/t Ag, 0.84g/t Au (Ind.) and 1.1Mt @ 48.8g/t Ag, 0.83g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: William Fuchter (Internal) | |
| ABSTRACT: | BUENOS AIRES – August 2, 2018, - AbraPlata Resource Corp. (TSX.V:ABRA; OTC: ABBRF; Frankfurt: 1AH) ("AbraPlata" or the "Company") is pleased to announce an update on its Diablillos property, located in northwestern Argentina. The Company has been conducting a review of historical drill data to determine if higher grade silver and gold zones could potentially be exploited using underground mining methods. An underground mining approach could entail significantly less initial capital than the large open pit approach contemplated in the Company's 2018 Preliminary Economic Analysis ("PEA") on the Diablillos project. The PEA demonstrated that Diablillos has the potential to product an average of 9.8 million silver-equivalent ounces per year over an eight year mine with robust economics. Building such a large operation would require estimated initial capital of US$293 million. (Refer to technical report filed April 16, 2018, on SEDAR.com for full details of the PEA.) The comprehensive drill database review by AbraPlata follows the identification by Nick Tate, the Company's consulting geologist and epithermal specialist, that high grade mineralized cores are strongly correlated with steeply dipping, tabular hydrothermal breccia bodies in the main Oculto deposit (Figure 1). Historical drilling, which totals about 88,000m in 450 drill holes, intercepted these breccias in numerous drill holes with the best mineralization being encountered at the intersection of the Main Breccia Zone and the Cross Breccia Zone. Highlights of historical drill the core of the Oculto deposit are provided in Table 1. The collars of the drill holes listed in Table 1 cover a strike length of over 400 metres and a width of over 200 metres, suggesting that Oculto has a thick, high grade core where there is pervasive brecciation | |
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