AbraSilver on Gold Forum Americas: The successful exploration
Diablillos and La Coipita (Argentina). "Our company is led by an experienced management team"
On the recente Gold Forum Americas, the exploration mining company AbraSilver Resource Corp. (TSX.V: ABRA; OTCQX: ABBRF) announced "the assay results for the final set of drill holes completed as part of the Company’s highly-successful Phase III drill program, on its wholly-owned Diablillos property" in Salta Province, Argentina.
The Higlights
+The reported holes were designed to delineate the margins of the JAC zone, ahead of the upcoming Mineral Resource estimate (MRE) and a Pre-Feasibility Study (PFS) on the Diablillos project. Key takeaways include:
+Holes DDH 23-066 to DDH 23-070 were drilled to determine the northwestern edge of the JAC zone. All holes encountered silver mineralization, with a broad intercept of 64 m grading 148 g/t Ag in hole DDH 23-070 from a down hole depth of only 41 m.
+Holes DDH 23-071 to DDH 23-075 were drilled to test the northeastern edge of the JAC zone. The holes encountered several narrower zones of silver mineralization, with hole DDH 23-075 intersecting 15.0 m at 93 g/t Ag and 0.78 g/t Au.
+Results from DDH 23-075 are highly encouraging as they demonstrate the continuity of mineralization between the JAC zone and the main Oculto deposit, and the possibility of a combined open pit.
AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina.
"The current Measured and Indicated Mineral Resource estimate for Diablillos consists of 51.3 Mt grading 66g/t Ag and 0.79g/t Au, containing approximately 109Moz silver and 1.3Moz gold, with significant further upside potential based on recent exploration drilling", said Gold Forum about AbraSilver.
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ABRASILVER PRESENTATION
AT GOLD FORUM AMERICAS
+Hole DDH 23-065 was drilled beyond the northwestern edge of the JAC zone, into the recently discovered JAC North zone. The hole successfully encountered a near-surface intercept of 7 m grading 119 g/t Ag and 0.14 g/t Au, starting at a down hole depth of only 85 m.
+This encouraging result further confirms the presence of a new significant mineralized structure beyond the main JAC zone. The newly discovered JAC North zone is located over 900 m beyond the limit of the conceptual open pit that defines the current Mineral Resource estimate at Oculto and approximately 100 m northwest of the high-grade JAC zone.
While hole DDH 23-075 represented the final drill hole at the main JAC zone as part of the Phase III drill campaign, the Company completed drilling of six additional holes at nearby exploration targets (namely JAC North, Alpaca and Fantasma).
#DOCS AbraSilver: A High-Growth Silver and Gold Explorer:
+ These results are expected to be received within the next few weeks and will help determine the highest-priority targets for the next phase of exploration. The Phase III drill program has now been successfully completed. The Company is preparing an updated MRE which remains on schedule to be completed within the next few weeks, to be followed by a PFS on the Diablillos project.
“We are delighted with the results of our highly successful phase III drill campaign. The consistent, high-grade drill results encountered throughout the past year clearly demonstrate the large-scale silver-gold mineralization potential at our flagship Diablillos project. The completion of this drill campaign represents another major milestone for the Company and reinforces our belief in the tremendous value remaining to be unlocked through our ongoing exploration efforts". commented John Miniotis, President and CEO.
ABRA Financials by GFA
Valuation
Market Capitalization172.115M
Enterprise Value (MRQ)147.461M
Enterprise Value/EBITDA (TTM)—
Total Shares Outstanding564.312M
Number of Employees36
Number of Shareholders—
Price to Earnings Ratio (TTM)—
Price to Revenue Ratio (TTM)—
Price to Book (FY)5.0648
Price to Sales (FY)—
Balance Sheet as of Jun 29, 2023
Quick Ratio (MRQ)12.5816
Current Ratio (MRQ)12.5816
Debt to Equity Ratio (MRQ)0.0001
Net Debt (MRQ)−10.898M
Total Debt (MRQ)3.138K
Total Assets (MRQ)34.276M
Operating Metrics
Return on Assets (TTM)-0.7138
Return on Equity (TTM)-0.8146
Return on Invested Capital (TTM)-0.8146
Revenue per Employee (FY)0
Price History
Average Volume (10 day)608.568K
1-Year Beta1.6553
52 Week High0.4650
52 Week Low0.2500
Dividends
Dividends Paid (FY)0
Dividend Yield Forward—
Dividends per Share (FY)0
Margins
Net Margin (TTM)—
Gross Margin (TTM)—
Operating Margin (TTM)—
Pretax Margin (TTM)—
Income Statement
Basic EPS (FY)-0.0427
Basic EPS (TTM)-0.0444
EPS Diluted (FY)-0.0427
Net Income (FY)−20.904M
EBITDA (TTM)−36.922M
Gross Profit (MRQ)−4.237K
Gross Profit (FY)−6.864K
Last Year Revenue (FY)0
Total Revenue (FY)0
Free Cash Flow (TTM)−32.218M
"The Company is led by an experienced management team and has long-term supportive shareholders including Eric Sprott. In addition, AbraSilver owns a portfolio of earlier-stage copper-gold projects including the La Coipita copper-gold project in the San Juan province of Argentina. AbraSilver is listed on the TSX-V under the symbol ABRA and in the U.S. under the symbol ABBRF", said the company.