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AbraSilver Announces Commencement of Drilling at La Coipita Project

Toronto - February 13, 2024: AbraSilver Resource Corp. (TSX.V:ABRA; OTCQX: ABBRF) ("AbraSilver" or the “Company”) is pleased to announce that drilling at the La Coipita copper-gold porphyry project (“La Coipita” or the “Project”) in San Juan, Argentina has commenced. 

The initial drill program is expected to consist of two drill rigs, drilling a planned total of four holes, over 2,600 metres, focusing on the La Coipita target. 

The drill program is fully funded by a subsidiary of Teck Resources Limited (“Teck”) under the terms of the option and joint venture agreement, as per the Company’s news release dated January 22, 2024.  

John Miniotis, President and CEO, commented, “We are excited to see the initiation of Teck’s maiden drill program at La Coipita which aims to unlock the potential of this promising copper porphyry project. Our large land package hosts multiple high-priority exploration targets, and we are optimistic about the positive outcomes that may result from this exploration phase.”

La Coipita Project Overview

The La Coipita project is located in the San Juan Province in a geological setting similar to world-class deposits in the same belt, including the Filo del Sol and Los Azules projects, where porphyry style mineralisation is found immediately beneath epithermal mineralization.  

The initial drill program will test zones of high chargeability and conductivity below sericitic alteration at surface, in the lower-elevation area east of previous drilling.

The location of the two drill holes currently in progress, and the historical holes drilled by AbraSilver, are shown in Figure 1 below.

Figure 1 – Map of Drill Holes at La Coipita

Technical information in this news release has been approved by David O’Connor P.Geo., Chief Geologist for AbraSilver, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About AbraSilver

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina.  The current Measured and Indicated Mineral Resource estimate for Diablillos consists of 53.3 Mt grading 87 g/t Ag and 0.79 g/t Au, containing approximately 148Moz silver and 1.4Moz gold, with significant further exploration upside potential. In addition, the Company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, whereby Teck can fund up to US$20 million in exploration expenditures and make certain other payments to earn up to an 80% interest. AbraSilver is listed on the TSX-V under the symbol “ABRA” and in the U.S. under the symbol “ABBRF”.

For further information please visit the AbraSilver Resource website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on Twitter at www.twitter.com/abrasilver

Alternatively please contact:

John Miniotis, President and CEO
[email protected]
Tel: +1 416-306-8334

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. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca.  The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. 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 news release.

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