Final Assay Results From Phase III Drilling At JAC Zone

TORONTO - Abra Silver Resource Corp. reported on drill holes completed as part of the Phase III drill program, on the Diablillos property in Salta Province, Argentina. The holes were designed to delineate the margins of the JAC zone, ahead of the upcoming Mineral Resource estimate (MRE) and a Pre-Feasibility Study (PFS) on the Diablillos project.  Key takeaways include: 1) Holes DDH 23-066 to DDH 23-070were drilled to determine the northwestern edge of the JAC zone. All holes encountered silver mineralization, with a broad intercept of 64 m grading 148 g/t Ag in hole DDH 23-070 from a downhole depth of only 41 m. 2) Holes DDH 23-071 to DDH 23-075were drilled to test the northeastern edge of the JAC zone. The holes encountered several narrower zones of silver mineralization, with hole DDH 23-075 intersecting 15.0 m at 93 g/t Ag and 0.78 g/t Au. Including, results from DDH 23-075 are highly encouraging as they demonstrate the continuity of mineralization between the JAC zone and the main Oculto deposit, and the possibility of a combined open pit. 3) Hole DDH 23-065 was drilled beyond the northwestern edge of the JAC zone, into the recently discovered JAC North zone. The hole successfully encountered a near-surface intercept of 7 m grading 119 g/t Ag and 0.14 g/t Au, starting at a downhole depth of only 85 m. 4) This encouraging result further confirms the presence of a new significant mineralized structure beyond the main JAC zone. Including as announced on August 9, 2023, the newly discovered JAC North zone is located over 900 m beyond the limit of the conceptual open pit that defines the current Mineral Resource estimate at Oculto and approximately 100 m northwest of the high-grade JAC zone. 5) While hole DDH 23-075 represented the final drill hole at the main JAC zone as part of the Phase III drill campaign, the Company completed drilling of six additional holes at nearby exploration targets (namely JAC North, Alpaca and Fantasma). These results are expected to be received within the next few weeks and will help determine the highest-priority targets for the next phase of exploration. 6) The Phase III drill program has now been successfully completed. The Company is preparing an updated MRE which remains on schedule to be completed soon, to be followed by a PFS on the Diablillos project.  

John Miniotis, President and CEO, said, “We are delighted with the results of our highly successful Phase III drill campaign.  The consistent, high-grade drill results encountered throughout the past year clearly demonstrate the large-scale silver-gold mineralization potential at our flagship Diablillos project. The completion of this drill campaign represents another major milestone for the Company and reinforces our belief in the tremendous value remaining to be unlocked through our ongoing exploration efforts.”