PEA in early 2026
AbraSilver Resource has announced an increase the estimated resources on its Diablillos silver project in Salta, Argentina The updated measured and indicated resource now totals 104Mt grading 59gpt silver and 0.
51gpt gold, containing 199Moz of silver and 1.72Moz of gold. This includes a maiden heap leach resource and reflects increases across five deposits: Oculto, JAC, Fantasma, Laderas and Sombra.Within this are a tank leach resource of 73Mt grading 79gpt silver and 0.66gpt gold, containing 186Moz of silver and 1.55Moz of gold, and a heap leach resource that adds 31Mt grading 13gpt silver and 0.16gpt gold.The tank leach resource features a 25% increase in contained silver and 14% increase in contained gold. The inferred resources have increased by 330% and now contain 10Moz of silver and 180,000oz of gold. The largest uplift was from JAC, where tonnage increased by 148% and contained silver increased by 70%.Abra intends to complete a feasibility study in the March quarter of 2026. "This substantial increase highlights the exceptional mineral endowment of our project and our team's continued success in unlocking value through exploration," said Abra Silver chief executive John Miniotis.The resource is reported inside a conceptual Whittle open pit shell derived using metal prices of US$ 27.50/oz silver and $2400/oz gold, with 83% process recovery for silver and 87% for gold.The company said the maiden heap leach resource is contained within the same constraining Whittle open pit as the tank leach resource, mainly in the Oculto deposit, which was previously classified as waste. A preliminary economic assessment evaluating the additional heap leach is planned for completion in 2026."The ability to leach this material provides an opportunity to reduce the strip ratio and further enhance project economics," the company said.Ongoing and planned drilling aim to increase resources. Abra is advancing a phase five drill programme that includes an additional 20,000m of drilling scheduled for completion by early 2026.The value of shares in Abra Silver has increased by 118% over the past year. They are trading at C$5.33, valuing the company at $813 million.
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