Mr. Willem Fuchter reports
ABRAPLATA TO MOBILIZE DRILL RIG FOR ITS DIABLILLOS AG-AU PROJECT IN ARGENTINA
Abraplata Resource Corp.
has awarded a 2,000-metre drilling contract to Foraco Argentina SA, the wholly owned Argentine subsidiary of Foraco International SA. A truck-mounted Boart Longyear LF-90 drill rig is being mobilized to undertake a 15-hole program on Abraplata's Diablillos silver-gold project in the high plains desert of the Puna in southern Salta province of northwestern Argentina,
and drilling operations are to commence by the end of the week. The planned diamond drill program is expected to bring additional mineralization at the Fantasma mineralized zone into a resource category with a view to further defining and expanding the existing resources outlined at the Oculto deposit, approximately 800 metres to the east of Fantasma. This will, in turn, allow the company to establish the parameters necessary for updating a previously prepared internal preliminary economic assessment study.
The Diablillos property lies at an elevation of 4,100 metres above sea level and covers an area of 79 square kilometres. It is located in a rapidly developing mineral province in northwestern Argentina that includes the TacaTaca (First Quantum Minerals Ltd.), Lindero and Arizaro (Fortuna Silver Mines Inc.), Rio Grande (Regulus Resources Inc.), and Samenta (Abraplata) deposits. Access is good with all-weather gravel roads and a serviceable airstrip on a neighbouring property.
The property hosts the silver-gold epithermal Oculto deposit for which an indicated resource has been estimated consisting of 27.7 million tonnes at 91.2 grams per tonne silver and 0.85 gram per tonne gold, and containing 81.3 million ounces silver and 755,000 ounces gold (135 million ounces silver equivalent, or 1.9 million ounces gold equivalent). Oculto is only one of nine mineral occurrences located on the Diablillos property.
The Fantasma zone lies immediately to the west of Oculto and has been identified by a number of trenches and four drill holes. A dacite porphyry at the Cerro Viejo Este occurrence, approximately 1,200 metres north-northwest of Oculto, hosts copper-gold mineralization that has been intersected in two drill holes in a dacite porphyry. At Pedernales to the north of Oculto, narrower but higher-grade epithermal mineralization has been intersected in a number of drill holes. Altogether, approximately 85,000 metres of drilling in 448 holes have been undertaken on the property, the majority of them on Oculto.
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 through the various stages of feasibility. In addition, Abraplata owns the highly prospective Cerro Amarillo property with its cluster of five mineralized copper (molybdenum-gold) porphyry intrusions located in a mining camp hosting the behemoth El Teniente, Los Bronces and Los Pelambres porphyry copper-molybdenum deposits. Further exploration work is also planned for the company's Samenta porphyry copper-molybdenum property south of First Quantum's TacaTaca project as well as its Aguas Perdidas gold-silver epithermal property.
Willem Fuchter, PGeo, president and chief executive officer of Abraplata Resource 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.
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