Up Or Down? AbraSilver Resource Corp (OTCMKTS:ABBRF) (CVE:ABRA)

AbraSilver Resource Corp (OTCMKTS:ABBRF) (CVE:ABRA) stock is moving lower in the afternoon session on Tuesday.

Market Action

As of 1:35, ABBRF stock moved down 5.29% to $0.4830 with more than 412K shares, compared to its average volume of 803K shares. The stock has moved within a range of $0.4700 – 0.5274 after opening the trade at $0.51.

Major Trigger:

AbraSilver Resource Corp. Reports Additional Wide, High-Grade Oxide Intercepts with 72 Metres at 3.8 g/t Gold-Equivalent, Including 12 Metres at 11.9 g/t Gold-Equivalent

Key Highlights:

• ABBRF reported new high-grade drill results received from three additional diamond drill holes completed on its wholly-owned Diablillos property in Salta Province, Argentina.
• AgEq & AuEq calculations for reported drill results are based on USD $20.00/oz Ag, $1,500/oz Au and $3.00/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices. Refer to Technical Notes below for metallurgical recoveries assumed in the 2018 PEA study on Diablillos.

Key Quote:

John Miniotis, President and CEO, commented, “We continue to have tremendous success intersecting wide intervals of high-grade mineralization across Oculto. The highlighted intersections released today further demonstrate the continuity of high-grade gold and silver mineralization beyond the currently known western end of the Tesoro Zone. 

With drilling ongoing at site, and the updated resource estimate and PEA study on track to be released in the third quarter, we expect the second half of 2021 will be an incredibly exciting period for the Company’s shareholders.”