BUENOS AIRES, Argentina, Nov. 14, 2017 (GLOBE NEWSWIRE) — AbraPlata Resource Corp (TSX.V:ABRA) (OTCQB:ABBRF) (Frankfurt:1AH) (“AbraPlata” or the “Company”) is pleased to announce that, following a comprehensive review of the geology and drill core, the Company has defined a gold-rich zone located in the lower part of the Oculto Ag-Au deposit in the southern half of the Diablillos property (Figure 1). This zone (Figure 2) is centered on drill hole DDH-97-007A (Figure 3) which intersected 2.7g/t Au & 15.6g/t Ag over 108m (from 197.2m down the hole), including 16.7g/t Au & 39.2g/t Ag over 10.6m (from 210m to 220.6m) in which a single sample returned 90.7g/t Au over 1.1m. The gold-rich zone measures approximately 300m by 50m (Figure 2), and lies both within the “regolith” breccia and below it in the basement (Figures 4 & 5), which has not been extensively drill tested. Furthermore, the zone is coincident with the recently identified structure that controls both the geometry and overall NE-SW trend of the Oculto deposit as a whole (Figure 2 and 5).
“The recent review of the drilling results by our consultant geologist has resulted in a new appreciation of the extent and grade of the gold-dominant mineralization in the basement rocks of the Oculto deposit,” commented AbraPlata’s Chairman, Hernan Zaballa, adding that: “The higher grades and large width of this zone highlights the considerable potential for delineating additional gold-rich resources in Oculto and the Company plans to drill new holes into this zone in the near future.”
Metal zonation within the mineralized zones at Oculto ranges from Au (or Au-Cu) in the feeder veins in the basement rocks to Au-Ag and then Ag-Au in the bulk of the disseminated body hosted by the overlying volcanics to Ag-only higher up in the sequence. It is also clear from mapping outcrop and road cut and/or drill pad exposures that there is a strong structural control on mineralization and associated alteration, and that most of these control structures trend NE-SW and have near vertical dips. Both gold and silver mineralization appears to expand spatially where the steeply dipping structures intersect the basement/volcanic contact (Figure 5). In some cases, this expansion is also coextensive with a “regolith” conglomerate on the basement contact. However, this blanket appears to be dramatically thickened in a NE-SW trending trough, and is coincident with the dominant controlling structure and where this intersects the basement contact. It is possible that the regolith conglomerate is actually a misinterpretation of a hydrothermal breccia at the contact of the basement and steeply dipping control structures. In any case, this zone has a strong influence on the enhancement of mineralization both spatially and with respect to better gold grades (Figure 5).
The geological model cross-section shown in Figure 5 provides an explanation with regard to the controls to the gold-rich zone which is open to the NE and SW as well as at depth. A planned drill program aims to delineate the extent and grade of this gold-rich zone.
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 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 expanding and 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.
President & Chief Executive Officer
For further information concerning this news release, please contact:
|Willem Fuchter||Rob Bruggeman|
|President &Chief Executive Officer||Investor Relations|
|AbraPlata Resource Corp.||AbraPlata Resource Corp.|
|Tel: +54.11.5258.0920||Tel: +1.416.884.3556|
|E-mail: email@example.com||Email: firstname.lastname@example.org|
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 and refer to the NI 43-101 technical report by RPA dated November 2, 2016, and titled “Technical Report on the Diablillos Project, Salta Province, Argentina.”