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Be the first with the news that moves the market- A successful drilling campaign in Argentina represents new opportunities for AbraPlata Resource Corporation (TSX.V:ABRA)
- From the company’s wholly owned ‘Diablillos’ project in Argentina’s Salta Province, high grade gold, silver, and the best copper yet were achieved
- Silver peaked the highest at 658 grams per tonne, gold reached 6.4 grams per tonne, and copper at 5.10 per cent
- AbraPlata Chief Geologist David O’Connor says the copper represents new opportunities on site that will influence the company’s next move
- Shares in AbraPlata Resource Corporation gained 10 per cent on the Toronto Stock Exchange — last trading at 11 cents each
AbraPlata Resource Corporation (TSX.V:ABRA) continues to mine out impressive results in Argentina — showing off gold and silver on Thursday.
In a media release, the mineral explorer revealed silver grades as high as 658 grams per tonne from the country’s Salta Province.
The latest drilling was conducted at the company’s Oculto deposit in the ‘Diablillos’ project. Peak gold was also struck at 6.4 grams per tonne, and some traces of copper at 5.10 per cent grade.
The Diablillos project is wholly owned by AbraPlata, with more than US$35 million invested into an open pit that has seen major strides since 2018.
“Drilling results at Oculto continue to exceed expectations and further demonstrate the continuity of high-grade mineralisation within and outside the current mineral resource,” AbraPlata Chief Executive John Miniotis said on Thursday.
“Most importantly, results continue to validate our geological interpretation and have increased our confidence in multiple high potential targets, which we expect to drill-test over the coming months.”
Although the copper grades at Oculto are not as high as the gold and silver results, AbraPlata Chief Geologist David O’Connor believes they represent a new opportunity.
“We have now intersected the highest grade copper mineralisation ever observed at Oculto which we believe may be the upper part of an intrusive system that was the mineralizing engine for the overlying high sulphidation epithermal silver-gold system and has not been tested at depth,” David said.
“This represents a major new exploration target at the Oculto project.”
At one point during the drilling, up to 14 metres of gold and silver were intercepted in the same strike.
AbraPlata stated on Thursday that it plans to use the latest data to plan a new batch of drillings at Oculto.
Share prices in AbraPlata gained 10 per cent on the Toronto Stock Exchange on Thursday — last priced at 11 cents each.
