(TheNewswire)
Buenos Aires / TheNewswire / June 22, 2017 -
AbraPlata Resource Corp. TSX.V:ABRA ("AbraPlata" or the "Company") is pleased to announce that it has started a 2000m diamond
drilling program on its Diablillos Ag-Au project in southern Salta Province of northwestern Argentina. The objective of the
planned diamond drill program is to establish a resource within Fantasma Mineralized Zone with a view to further expanding the
existing resources outlined at the Oculto Deposit, some 800m to the east of Fantasma. This will allow the Company to
establish the parameters necessary for completing a Preliminary Economic Assessment study.
Diablillos lies at an elevation of 4100m above sea level, and covers an area of some 79km 2
. The property hosts Ag-Au epithermal mineralization within a north-trending graben which traverses most of the
property. This mineralization includes the Oculto deposit for which an indicated resource has been estimated consisting of
27.7m tonnes at 91.2g/t Ag and 0.85g/t Au and containing 81.3m oz Ag and 755k oz Au (135m oz AgEq or 1.9m oz AuEq). Reference
is made to the Technical Report dated November 2, 2016 prepared by Roscoe Postle Associates Inc., a copy of which is filed under
the Company's profile on SEDAR.
The Fantasma zone, which is the focus of the current drilling program, lies immediately to the west of Oculto, and
has been identified by a number of trenches and four drill holes. The current program is expected to be completed by late
July, and comprises 15 holes ranging from 100m to 350m in depth.
Mineralization at Fantasma outcrops at surface as indicated by the trenches, and appears to be confined to two gently
dipping, stacked layers some 20m and 10m in thickness respectively. Previous drilling, notably hole DDH-12-126, intersected
24.1m @ 117.6g/t Ag in the upper zone and 11.7m @ 185.6g/t Ag in the lower zone. The Fantasma zone is most likely constrained
by the graben bounding fault at its western limit and an intra-graben fault some 150m to the east; the zone would appear to
be open to the south and possibly to the north although probably limited to where the intra-graben fault pinches out against the
western boundary fault.
“The implication of establishing a resource within the Fantasma Mineralized Zone goes beyond merely
expanding the global resource already identified at Diablillos” commented AbraPlata’s Chairman Hernan Zaballa, adding that “A near
surface resource at Fantasma could go a long way to mitigating the effects of a pre-strip that would be required in bringing the
Oculto deposit into production”.
About AbraPlata
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 advancing its flagship Diablillos property through the various stages of feasibility.
In addition, AbraPlata owns the 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.
" Willem Fuchter "
Willem Fuchter
President & Chief Executive Officer
For further information concerning this news release, please contact:
Willem Fuchter Karl Cahill
President & Chief Executive Officer VP Investor Relations
AbraPlata Resource Corp. AbraPlata Resource Corp
Tel: +54.11.5258.0920 Tel: +1.858.531.6100
E-mail: willem@abraplata.com
Email: karl@abraplata.com
Qualified Person
Willem Fuchter, PGeo, President and 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 scientific and technical information
contained in this news release.
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.
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