Abraplata Resource Corp. (ABRA.V) has been dead money for a long, long time but things appear to be looking up now as the market seemed to be very satisfied with Abraplata’s most recent assay results. The company published the assay results of just one hole that was drilled on the Oculto zone of its Diablillos project in Argentina, and there is a good reason why the company didn’t wait for additional assay results to release a batch of assay results.
The highlight of the hole is 14 meters containing 197 g/t silver, 6.4 g/t gold and 2.53% copper in a transitional zone, immediately followed by a sulphide zone of 15 meters containing an even more exciting interval of 658 g/t silver, 2.35 g/t gold and 5.1% copper with a recoverable (!) silver-equivalent grade of 691 g/t (and this still excludes the copper as part of the silver-equivalent calculation).
Yes, this interval is relatively deep (the initial 14 meters starts 261 meters downhole) but those grades are quite spectacular and the high-grade copper values are intriguing. According to a statement of Abraplata’s Chief Geologist, the high-grade copper mineralization could be part of an intrusive system that was the main driver behind the high sulphidation epithermal gold-silver system. Part of the reason why these are the highest copper values ever discovered is that oxide mineralization was the main focus at Diablillos and holes rarely reached the sulphide zone.
Abraplata also announced an agreement to acquire full ownership of the La Coipita project in Argentina’s San Juan province where it will go explore for copper-gold porphyry systems. Historic drill interals of 127 meters of 0.22 g/t gold and 0.42% copper are an intriguing start.
Disclosure: The author no longer has a position in Abraplata.