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查看配图Drilling at the Diablillos deposit. Credit: AbraSilver Resource
Posted By: Colin McClelland November 9, 2026
AbraSilver Resource (TSX: ABRA; US-OTC: ABBRF) has extended gold mineralization beyond the planned Oculto pit at its Diablillos project in Argentina, adding growth potential ahead of a construction decision targeted for next year.
Drill hole DDH-26-063A at Oculto East cut 253 metres grading 0.54 gram gold per tonne and 9.8 grams silver from 116 metres depth. Infill drill hole DDH-26-064 cut 75 metres at 2.44 grams gold and 106 grams silver from 220 metres depth within the planned pit, the company said Monday.
“We view these results as positive, with DDH-26-064 confirming continuity of higher-grade oxide mineralization within the current mine plan,” Scotiabank mining analyst Eric Winmill said in a note. “We see DDH-26-063A supporting potential resource growth beyond the pit design.”
The assays are to feed a resource update expected in the second quarter of 2027, when AbraSilver expects to make a construction decision for the project in the country’s northwest. They could add gold beyond the mine plan in this past June’s feasibility study, although further drilling is needed to establish the eastern extension’s size and continuity.
A heap leach preliminary economic assessment due this quarter is to examine whether lower-grade material classified as waste in that plan can also be processed economically. The company targets first production before the end of 2029.
Eastern growth
The eastern hole, DDH-26-063A, tested the continuation of gold mineralization east of the Cross Breccia zone. Much of the 253-metre interval lies below the current pit design. True widths of the reported drill intervals remain unknown, AbraSilver said.
“This gives us further exploration targets to follow up as we continue to drill in the area,” President and CEO John Miniotis said in the release. “All activities remain on schedule for a final construction decision in second quarter 2027.”
The result follows an Oct. 21 intercept in hole DDH-26-061, which cut 228 metres at 1.79 grams gold from 101 metres depth, including 66 metres at 4.04 grams gold from 263 metres depth. That higher-grade core lay about 50 metres below the planned pit and outside the existing resource model.
“Much of the oxide interval lies below the current pit design and extends mineralization east from the Cross Breccia toward Oculto East,” Scotiabank’s Winmill said. “Together with DDH-26-061, the results indicate potential for the gold system to extend beyond the existing pit limits.”
The 75-metre infill interval in hole DDH-26-064 included 8 metres at 5.94 grams gold from 228 metres depth and 7 metres at 7.97 grams gold from 252 metres depth. Both were in oxide mineralization.
Three drill rigs remain active, with the current exploration program expected to finish by year-end. Further drilling will test continuity between the eastern holes and establish how the mineralization relates to the existing resource, the company said.
Imminent economic study
Diablillos straddles the Salta–Catamarca provincial border about 1,300 km northwest of Buenos Aires and 160 km southwest of the city of Salta.
A resource announced in May 2026 outlined 232 million measured and indicated tonnes at 33 grams silver and 0.34 gram gold, containing 248 million oz. of silver and 2.54 million oz. of gold. The total includes material assessed for both tank leaching and a possible heap leach operation.
A heap leach preliminary economic assessment due within weeks is to examine treating lower-grade material that is included in the resource but classified as waste in the feasibility study’s tank leach mine plan. That option is being evaluated separately from the main development.
Shares in AbraSilver shares rose 6.3% to $12.06 in Toronto on Monday morning, valuing the company at about $2 billion. They have traded between $6.62 and $19.89 over the past year. Scotiabank maintained its sector outperform rating and $21 price target.
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