The playbook — silver · October 21, 2026
AbraSilver's best gold hole lands below the Diablillos pit
One oxide hole cut 228 metres at 1.79 g/t gold with a 66-metre core at 4.04 g/t — sitting outside the resource. Three siblings came back near-barren.
AbraSilver drilled what it calls its best gold hole yet at the Diablillos project in northern Argentina. The hole, labelled DDH-26-061, cut 228 metres grading 1.79 grams of gold per tonne — about 408 gram-metres, a tidy measure of how much metal the rock carries over its length. Inside that run sat a richer 66-metre core at 4.04 grams per tonne, and inside that, an 11-metre slice at 15.97 grams per tonne. All of it is in oxide rock, the soft, weathered kind that is cheap to process. The twist: this material sits roughly 50 metres below the current open-pit design and outside the existing resource, so it is extra metal the company did not have on the books.
Here is why the geologist likes it and why the result merits attention. Diablillos is already a late-stage silver-gold project with a finished feasibility study, so adding fresh oxide tonnes in the right place could feed the pit at low cost. The intercept runs from about 87 to 285 metres below surface — deep enough to matter, shallow enough to dig. CEO John Miniotis is an M&A operator by background, the man who was VP Corporate Development at AuRico Metals when Centerra bought it for about $310 million; he has never built a mine, and the company runs on outside money (net loss of about C$50 million in the year to September 2025, backstopped by a C$50 million raise in July 2026). Oddly, the stock has fallen 25.1% over three months while silver barely moved and silver juniors edged up 0.9% — a roughly 26-point gap that points at company-specific pressure, not a weak sector.
Now the honest part. This is one strong hole among four. The other three — DDH-26-051, 052 and 058 — came back at no better than 0.6 grams per tonne, so the headline rests entirely on 061. True widths are not stated; the company says they are unknown, meaning the 228, 66 and 11-metre figures are downhole lengths that may overstate the real zone. No cut-off grade or compositing interval was given. And the release does not state how far 061 sits from the older high-grade holes, so continuity to them is not yet established — the company says more drilling is needed. The company says it will release the Heap Leach PEA in the coming weeks; more Phase VI assays are expected through year-end; and management targets a final investment decision for Q2 2027.