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AbraPlata made substantial progress on multiple fronts in 2020, with the top three highlights being:
- The successful completion of three equity financings for aggregate gross proceeds of
C$25 million , also resulting in Mr.Eric Sprott becoming the Company’s largest shareholder;- Announcing multiple high-grade silver, gold and copper exploration results at Oculto as part of the ongoing 13,000-metre drill program. Refer to Table 1 below for summary of top drill intercepts;
- Strong share price appreciation with increased shareholder value of 750% for the year, resulting in the Company being among the best performing mineral exploration companies listed on the
TSX-Venture Exchange .
“Finally, we are extremely pleased to be actively working in the Salta province, which is ranked among one of the best mining jurisdictions, not only in
2020 Drilling Highlights:
In 2020, AbraPlata drilled approximately 8,900 metres in 33 holes at Diablillos. Of these holes, the Company has reported drill results from only 14 holes, with the results from the remaining 19 holes currently pending. The three main priority drilling targets were to:
- Identify additional gold resources in the deeper oxide gold zone;
- Extend silver-gold mineralization northeast of the
Whittle Pit boundary;- Define a shallow gold zone (from surface to ~100m depth) which would benefit early open pit mining operations.
Table 1: Diablillos Project – Top Drill Intercepts Reported In 2020
------------------------------------------------------------------------------- |Drill Hole |From |To |Type |Interval|Ag |Au | | | | | |(m) | (m)| |(m) | g/t |g/t |Cu |AgEq1g/t|AuEq1g/t| | | | | | | | |% | | | |-----------------------------------------------------------------------------| |DDH-19-002 |137.5|155 |Oxides |17.5 |603.9|0.10 |- |611.4 |8.15 | |-----------------------------------------------------------------------------| |DDH-19-002 |250 |257 |Oxides |7 |202.1|20.64|- |1,750.1 |23.33 | |-----------------------------------------------------------------------------| |DDH-19-002 |367 |376 |Sulphides |9 |48.9 |7.31 |1.28|728.8 |9.72 | |-----------------------------------------------------------------------------| |DDH-20-001 |261 |275 |Transition|14 |197.0|6.40 |2.53|937.2 |12.50 | |-----------------------------------------------------------------------------| |DDH-20-001 |275 |290 |Sulphides |15 |658.0|2.35 |5.10|1,358.8 |18.12 | |-----------------------------------------------------------------------------| |DDH-20-002 |337 |349 |Sulphides |12 |13.4 |1.14 |2.56|362.2 |4.83 | |-----------------------------------------------------------------------------| |DDH-20-003 |267 |289 |Oxides |22 |25.3 |4.22 |- |341.8 |4.56 | |-----------------------------------------------------------------------------| |DDH-20-003 |405 |407 |Sulphides |2 |28.3 |3.34 |4.49|740.6 |9.88 | |-----------------------------------------------------------------------------| |DDH-20-006 |273 |275 |Oxides |2 |56.2 |9.45 |- |765.0 |10.20 | |-----------------------------------------------------------------------------| |DDH-20-007 |178 |206 |Oxides |28 |383.2|0.34 |- |408.7 |5.45 | |-----------------------------------------------------------------------------| |DDH-20-007 |260 |262 |Sulphides |2 |27.5 |23.40|- |1,782.5 |23.77 | |-----------------------------------------------------------------------------| |DDH-20-008 |352 |360 |Sulphides |8 |- |1.66 |2.01|331.2 |4.42 | |-----------------------------------------------------------------------------| |DDH-20-009 |171 |254 |Oxides |83 |289.4|1.45 |- |398.2 |5.31 | |-----------------------------------------------------------------------------| |DDH-20-009 |275 |280 |Oxides |5 |98.7 |4.16 |- |410.7 |5.48 | |-----------------------------------------------------------------------------| |DDH-20-010A|210 |257 |Oxides |47 |96.3 |3.37 |- |349.1 |4.65 | |-----------------------------------------------------------------------------| |DDH-20-010A|261 |276 |Sulphides |15 |296.1|2.16 |- |458.1 |6.11 | -------------------------------------------------------------------------------
Note: All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths. True widths are estimated to be approximately 80% of the interval widths.
1AgEq & AuEq calculations for reported drill results are based on USD
2021 Outlook
The Company begins the year with a substantial backlog of assays from 19 exploration drill holes that it expects to report in Q1, 2021. These assay results are expected to be released in batches starting in the next several weeks, which should help lead to record-high levels of news flow ahead. Other expected milestones for the year ahead include:
- Completing the 13,000m Exploration Program(Q1 2021);
- Completing additional metallurgical testwork and mineralogical studies(H1 2021);
- Completing additional water well drilling to test identified aquifers(H1 2021);
- Updated Mineral Resource Estimate and PEA Study(Mid-2021);
- Evaluating Additional Targets & District Scale Potential at Diablillos(Throughout 2021);
- Advancing Environmental and Hydrology Baseline Studies(Throughout 2021);
- Progressing Other Projects(Throughout 2021):
-
Arcas Project ,Chile –Our partner, Rio Tinto,has an option to earn up to a 75% interest in Arcas by spending up toUS$25 million in exploration expenditures. Rio Tinto is expected to commence an initial 2,000m RC drill program in H1/2021.-
Santo Domingo , San Juan –The Company has an option to acquire a 100% interest by paying a total ofUS$2.5 million in staged payments over the next seven years. Numerous targets have been identified on the project and will be evaluated in H1/2021, with the Company potentially commencing an initial drill program by the end of the year.- La Coipita, San Juan –The Company has an option to acquire a 100% interest by paying a total of
US$4.265 million in staged payments over the next four years. The Company is currently in discussions with potential strategic partners to advance the project.
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.
Technical Notes
All results in this news release are rounded. Assays are uncut and undiluted. Intervals are drilled widths, not true widths. AgEq calculations for reported drill results are based on USD
About AbraPlata
AbraPlata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects in
For further information please visit the
-------------------------------- |John Miniotis , President&CEO| | |john@abraplata.com | | |Tel: +1416-306-8334 | | | | | --------------------------------
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
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