en.Wedoany.com Reported - AbraSilver Resource (TSX: ABRA; US-OTC: ABBRF) has drilled its best hole to date at the La Coipita project in Argentina, further enriching the copper mine growth story funded by Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK). The project is adjacent to its flagship Diablillos silver-gold project.
Hole DDH-LC26-010 intersected mineralization from 396 meters depth, returning 747.5 meters grading 0.69% copper, 0.06 g/t gold, and 142 ppm molybdenum, including a high-grade interval of 108 meters grading 1.06% copper starting from the same depth. La Coipita is located approximately 1,170 kilometers northwest of the capital Buenos Aires.
"The 2026 drilling program has achieved several important milestones at La Coipita," said CEO John Miniotis in a Monday press release. "Equally encouraging is the new shallow mineralization discovery at Yaretas Sur, nearly 2 kilometers south of the main drilling area, further demonstrating the regional-scale potential of the project."
The Teck-backed project, located in Argentina's prolific San Juan mining district near the Chilean border, is emerging as a potential large-scale copper-gold porphyry project. The district lies within the Miocene porphyry-epithermal belt, hosting multiple world-class deposits including Filo del Sol, Los Azules, El Indio, Veladero, Pascua Lama, and El Pachon.
AbraSilver's share price has risen 250% over the past 12 months, gaining another 5% on Monday to C$15.79 per share, giving the company a market capitalization of C$2.5 billion.
The drilling program comprises seven holes totaling 5,248 meters. At Yaretas Sur (1.9 kilometers south of the main Yaretas drilling area), hole DDH-LC26-012 intersected 42 meters grading 1.03% copper, 0.63 g/t gold, and 41 g/t silver from 264 meters depth. Teck has invested approximately US$23 million (C$32 million) in La Coipita, exceeding the US$20 million exploration threshold in the earn-in agreement. AbraSilver retains full ownership of the large Diablillos copper-gold-molybdenum system, while Teck funds most of the work to form an 80-20 joint venture, pending completion of remaining planned cash payments. Since the earn-in agreement was initiated in 2024, Teck has drilled 11,270 meters across 19 holes at La Coipita. The project sits at elevations between 3,500 and 4,500 meters.
The second-best hole at Yaretas, DDH-LC26-011, returned 250.6 meters grading 0.39% copper, 0.07 g/t gold, and 119 ppm molybdenum from 550 meters depth. AbraSilver stated that the hole connected mineralization between previous drill holes and tightened the target core.
AbraSilver noted that magnetotelluric surveys, conducted for the first time in the district, helped outline the mineralized system and indicated a potential southern extension. The Yaretas Sur discovery provides Teck and AbraSilver with a second center to test. Some gaps remain in the program. Holes DDH-LC26-013 and DDH-LC26-015 intersected indicative copper mineralization at Yaretas, while DDH-LC26-014 and DDH-LC26-016 failed to reach planned depths. True thicknesses remain unknown.
Diablillos remains AbraSilver's primary asset. The project, spanning the provinces of Salta and Catamarca, hosts measured and indicated heap leach resources of 102 million tonnes grading 65 g/t silver and 0.62 g/t gold, containing approximately 213 million ounces of silver and 2 million ounces of gold. The company said it is well-funded and expects to make a construction decision later this year.
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