EMX has a 1% NSR royalty on the Diablillos high sulfidation oxide silver-gold project, located in the Puna region of the Province of Salta, Argentina. The project is operated by AbraSilver Resource Corp. (TSX-V: ABRA) which has an option to acquire 100% of the Diablillos property from SSR Mining.

Diablillos has a Mineral Resource estimate referenced from a technical report titled “NI 43-101 Preliminary Economic Assessment Technical Report - Diabillos Project” filed on SEDAR with effective and report dates of January 13, 2022, and authored by MiningPlus for AbraSilver as summarized in the table below.*

 Diablillos Current Mineral Resources 
 Category  Tonnes (kt)  Grade  Metal 
 Au (g/t) Ag (g/t) Au (koz) Ag (koz)
 Measured              8,235         0.98         124          259    32,701
 Indicated             32,958         0.70           54          744    57,464
 M+I            41,193         0.76       68.1       1,002    90,165
 Inferred              2,884         0.70           34             66      3,181

Aftermath continues to advance Diablillos with ongoing drilling and metallurgical programs. Preliminary metallurgical tests indicate high recoveries from a crushing, grinding and agitated leach plant with a Merrill-Crowe circuit.

Significant exploration upside remains at the Diablillos project, including resource extensions at Oculto and Fantasma (a satellite zone of Ag-rich epithermal mineralization related to Oculto), Laderas, and Alpaca. Most of the longer-term distal targets are aligned along a curving trend and are collectively known as the Northern Arc zones. These zones lie approximately three to four kilometers north-northeast of the center of the Oculto deposit. All encompass epithermal silver-gold targets similar in style to Oculto and Fantasma.


*Mineral Resources have been estimated in accordance with CIM guidelines. Contained metal does not take into account recovery losses. The Mineral Resources represent the most recent publicly disclosed estimates for Diablillos. Other notes included by AbraSilver for the Mineral Resource estimate include:

  1. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
  2. Mineral Resources are estimated at a cut-off grade of 40 g/t AgEq for Oculto and 40 g/t Ag for Fantasma.
  3. The Mineral Resource is reported inside a whittle pit shell with a cut-off grade of 35 g/t silver equivalent, estimated using a gold price of US $1750 and silver price of US $25.
  4. The estimate is constrained by a pit shell for both Oculto and Fantasma.
  5. Numbers may not add due to rounding.
  6. The silver equivalent is based on the following formula: AgEq = Ag + Au*70.
  7. This resource was reviewed by Qualified Person David W. Rennie, P.Eng an Associate Principal Geologist with Roscoe Postle Associates (“RPA”) and registered as a Professional Engineer in the Province of British Columbia (Reg.#13572).



Land positioning of Diabillos Click to Enlarge


Schematic geologic model of mineralization Click to Enlarge