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News Releases

AbraPlata Intersects 22 Metres of 4.22 g/t Gold; Including 1 Metre of 31.2 g/t Gold and 60.4 g/t Silver at Diablillos Project

Toronto - September 02, 2020: AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata" or the “Company”) is ”) is pleased to announce assay results from two diamond drill holes, DDH 20-002 and DDH 20-003, completed at the Oculto deposit, located on its wholly-owned Diablillos in Salta Province, Argentina.  The holes were designed to test the deeper gold zone and ongoing drilling will include testing of the shallower silver rich zone.

Results from a further two holes remain pending and are expected to be received sometime in mid-September.  As announced on August 12, 2020, the Company is currently conducting Phase II of the exploration program, consisting of an additional 5,000 metres of diamond drilling.  The expanded exploration program will result in the total 2019-2020 program consisting of a total of 8,000 metres in approximately 17 diamond drill holes.

Table 1 – DDH 20-002 and DDH 20-003 Drill Result Highlights:

Drill Hole   From (m) To (m) Type Interval (m) True Width (m) Au g/t Ag g/t Cu
%
DDH-20-002   246 247 Sulphides 1 0.8 0.12 160.0 0.39
DDH-20-002   337 349 Sulphides 12 9.6 1.14 13.4 2.56
DDH-20-002 including 342 346 Sulphides 4 3.2 2.70 22.1 2.84
DDH-20-003   70 87 Oxides 17 13.6 2.33 20.6 -
DDH-20-003   267 289 Oxides 22 17.6 4.22 25.3 -
DDH-20-003 including 282 283 Oxides 1 0.8 31.17 60.4 -
DDH-20-003   318 321 Oxides 3 2.4 2.36 29.3 -
DDH-20-003   346 349 Oxides 3 2.4 2.37 13.4 -
DDH-20-003   405 407 Sulphides 2 1.6 3.34 28.3 4.49
DDH-20-003   428 434 Sulphides 6 4.8 0.77 - 1.11
DDH-20-003   446 446.5 Sulphides 0.5 0.4 0.52 - 6.30

Note:  True widths are estimated to be 80% of the interval widths.

The highlighted gold, silver and copper intercepts are shown on cross sections in Figures 2 and 3. A summary table of the full assay results is included in Annex 1.

David O’Connor, Chief Geologist of AbraPlata, commented, “We continue to obtain substantial oxide gold intercepts which will add to the resources of the deeper gold zone at Oculto, while also intersecting high grade copper with associated gold in the underlying sulphide mineralisation. We plan systematic drilling at these depths to add tonnage and grade to the open pittable gold and silver resources within the Oculto Zone and satellite areas prior to deeper drilling to explore for the source intrusive.”

Figure 1 – Drill Holes completed in 2019/20, with Proposed Drill Holes in the Oculto Zone and Satellite Areas

Fig 1. Drill Holes completed in 2019/20

Figure 2 - Cross-Section (Looking East) with Highlighted Intercepts in Hole DDH 20-002

Fig 2. Cross-Section (Looking East)

Figure 3 - Cross-Section (Looking East) with Highlighted Intercepts in Hole DDH 20-003

Fig 3. Cross-Section (Looking East)

Native Silver Mineralization

The Company’s geologists have visually identified native silver mineralisation at a depth of 228 metres in Hole DDH 20-006, which is part of our ongoing drilling program. It is very unusual to see native silver in drill core, but where previously identified it represents individual one metre sample values of in excess of 500g/t. High grade silver could be expected in the vuggy silica at this depth, which in Hole DDH 20-006 is a part of the deeper gold zone hosted in a hydrothermal breccia intercept over 50 metres thick.

It is noted that Hole DDH 19-002, as reported by the Company on January 27, 2020, is approximately 50 metres west of DDH 20-006, and obtained 15 metres at 10.4g/t Au and 285.7g/t Ag between depths of 242 to 257 metres.  Gold and silver grades in Hole 20-006 will be confirmed when analyses are received, expected within approximately four weeks.

Figure 4 – Native Silver Mineralization To Be Confirmed in Hole DDH 20-006; (Note: Photo is 10cm Across)

Fig 4. Native Silver Mineralization To Be Confirmed

Figure 5 – Hand Lens View of Native Silver

Fig 5. Hand Lens View of Native Silver

Strategy for Drilling and Resource Expansion

The Phase II drilling program which is currently underway is expected to continue through November 2020 with one drill rig and will have a dual focus: drilling for additional high grade gold and silver mineralisation to augment the current oxide resources at the Oculto Zone and adjacent areas; and testing for the continuity of underlying copper-gold sulphide mineralisation which may be linked to a porphyry intrusive that would have been the source of mineralising fluids.  The Company remains well-funded to add further drill rigs at the Diablillos project if excellent exploration results continue to be achieved. 

About Diablillos

The 80 km2 Diablillos property is located in the Argentine Puna region - the southern extension of the Altiplano of southern Peru, Bolivia, and northern Chile - and was acquired from SSR Mining Inc. by the Company in 2016.  There are several known mineral zones on the Diablillos property, with the Oculto zone being the most advanced with approximately 90,000 metres drilled to date.  Oculto is a high-sulphidation epithermal silver-gold deposit derived from remnant hot springs activity following Tertiarty-age local magmatic and volcanic activity. Comparatively nearby examples of high sulphidation epithermal deposits include: El Indio, Chile; Veladero, Argentina; and Pascua Lama, on the Chile-Argentine border.

Table 2 - 2018 Mineral Resource Estimate for the Oculto Deposit, Diablillos Project

Category Tonnage
(000 t)
Ag
(g/t)
Au
(g/t)
Contained Ag
(000 oz Ag)
Contained Au
(000 oz Au)
Indicated 26,900 93.0 0.85 80,300 732
Inferred 1,000 46.8 0.89 1,505 29

Effective August 31, 2017. Full details of the Mineral Resources are available in a Company news release dated March 2, 2018.  For additional information please see Technical Report on the Diablillos Project, Salta Province, Argentina, dated April 16, 2018, completed by Roscoe Postle Associates Inc, and available on www.SEDAR.com.

QA/QC and Core Sampling 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.

Qualified Persons

David O’Connor P.Geo., Chief Geologist for AbraPlata, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this news release.

ANNEX 1 – Drill Result Summary of Holes Drilled in 2019/2020 Phase I Exploration Program.

Drill Hole From (m) To (m) Intercept (m) Thickness (m) Ag (g/t) Au (g/t) Cu (%)
DDH 19-001              
  166.0 231.0 65.0 54.20 105 0.20 -
including 201.0 204.0 3.0 2.50 346 0.30 -
  302.0 312.0 10.0 8.0 10 0.08 0.86
  326.0 327.0 1.0 0.83 48 0.93 1.76
  353.0 354.0 1.0 0.83 15 6.93 0.54
               
DDH 19-002              
  56.0 78.0 22.0 18.33 17 2.74 -
including 57.0 60.0 3.0 2.50 104 2.91 -
  137.5 155.0 17.5 14.58 604 0.10 -
  180.0 200.0 20.0 16.67 140 0.03 -
  242.0 257.0 15.0 12.50 286 10.42 -
including 250.0 257.0 7.0 5.83 202 20.64 -
  367.0 376.0 9.0 4.50 49 7.31 1.28
including 371.0 376.0 5.0 2.50 17 11.27 1.48
  369.0 400.0 31.0 25.00 25 2.27 1.30
  438.0 450.0 12.0 6.00 24 0.47 1.60
               
DDH 20-001              
  146 160 14.0 11.20 133 0.10 -
  165 191 26.0 20.80 264 0.03 -
  261 290 29.0 23.20 430 4.30 2.77
including 261 275 14.0 11.20 197 6.40 2.53
including 278 282 15.0 12.00 658 2.35 5.10
               
DDH 20-002              
  246 247 1.0 0.8 160 0.12 0.39
  337 349 12.0 9.6 13 1.14 2.56
including 342 346 4.0 3.2 22 2.70 2.84
               
DDH 20-003              
  70 87 17 13.6 20.6 2.33  
  267 289 22 17.6 25.3 4.22  
including 282 283 1 0.8 60.4 31.17  
  318 321 3 2.4 29.3 2.36  
  346 349 3 2.4 13.4 2.37  
  405 407 2 1.6 28.3 3.34 4.49
  428 434 6 4.8 - 0.77 1.11
  446 446.5 0.5 0.4 - 0.52 6.30

Collar Data

Hole Number UTM Coordinates Elevation Azimuth Dip Depth
DDH 19-001 X 720293 Y 7199273 4315 0 -60 380 m
DDH 19-002 X 720295 Y 7199404 4300 0 -60 464 m
DDH 20-001 X 720197 Y 7199235 4267 0 -60 359 m
DDH 20-002 X 3418275 Y 7201810 4272 0 -60 450 m
DDH 20-003 X 3418375 Y 7202035 4332 0 -60 500 m

About AbraPlata

AbraPlata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects in Argentina and Chile. The Company is focused on advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which is well-advanced, with more than US$40 million spent historically on exploration with drilling ongoing and an initial open pit PEA completed in 2018.  The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott, Altius Minerals and SSR Mining.  In addition, AbraPlata owns the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration.  AbraPlata is listed on the TSX-V under the symbol “ABRA”.

For further information please visit the AbraPlata Resource website at www.abraplata.com or contact:

John Miniotis, President & CEO
john@abraplata.com
Tel: +1 416-306-8334

Cautionary Statements

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 news release.

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