AbraSilver Resource (TSX: ABRA; US-OTC: ABBRF) is moving its Diablillos project in northwest Argentina toward a feasibility study next year. The team recently expanded resources and reported a record gold hit at Oculto East, according to CEO John Miniotis.
A July resource update lifted the gold-silver project’s measured and indicated resources to 103.9 million tonnes at 59 grams silver per tonne and 0.51 gram gold for 198.6 million oz. silver and 1.7 million oz. gold, including tank and heap leach oxide resources. Step-out drilling to the east of the Oculto deposit opens a new gold front, CEO John Miniotis said during the Precious Metals Summit.
“We hit about 30 metres grading 10 grams gold per tonne in oxide at Oculto East – phenomenal grades,” Miniotis told The Northern Miner’s Western Editor, Henry Lazenby. Once in operation, the mine “will be one of the lowest-cost primary silver mines on the planet.”
Diablillos is modelled as a near-surface, oxide, open-pit with agitated leach processing at about 9,000 tonnes per day.
Watch the full interview below:
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