AbraPlata Resource Corp. Announces Name Change to AbraSilver Resource Corp.
The name change reflects the Company's growing international investor base (plata means silver in Spanish). Regardless of the language used, silver is what makes the Company and the Diablillos project unique. The Diablillos project has a large oxide resource that is silver-dominant. There is a scarcity of silver development projects in attractive investment jurisdictions, especially deposits with the size and grade of Diablillos. Salta province, where Diablillos is located, was recently ranked as the top mining jurisdiction in Argentina, Latin America and the Caribbean Basin in the Fraser Institute's Annual Survey of Mining Companies, 2020.
The Company is also pleased to announce that its existing 13,000-metre drill program, remains on track to be completed by the end of March. Once all drill results are received from the existing exploration program, the Company will prepare an updated National Instrument 43-101 ("NI 43-101") Preliminary Economic Assessment ("PEA") study for the Diablillos Project. A second phase drill program is also expected to be announced by April, focused on evaluating additional targets and the district-scale potential at Diablillos.
David O'Connor P.Geo., Chief Geologist for AbraPlata, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this news release.
AbraPlata is a silver-gold focused advanced-stage exploration company. The Company is rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has an Indicated resource base of over 140Moz on a silver-equivalent basis and an initial open pit PEA study completed in 2018. The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott, Altius Minerals and SSR Mining. In addition, AbraPlata owns a portfolio of earlier-stage copper-gold projects, including the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration. AbraPlata is listed on the TSX-V under the symbol "ABRA".
For further information please visit the AbraPlata Resource website at www.abraplata.com, our LinkedIn page at AbraPlata Resource Corp. | LinkedIn, and follow us on Twitter at www.twitter.com/abraplata
Alternatively please contact:
John Miniotis, President and CEO
Tel: +1 416-306-8334
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 news release