BUENOS AIRES, Argentina, Aug. 29, 2017 (GLOBE NEWSWIRE) -- AbraPlata Resource Corp. (ABRA.V) (ABBRF) (1AH.F) ("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.”
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.
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.
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 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.
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