Skip to main content

AbraSilver Resource – Final Phase 5 Drill Assays, Pending Resource Update, DFS, EIA, & RIGI Approval

The KE Report Jan 29, 2026

Summary

Final Phase 5 drilling at Diablillos shows JAC remains open, with strong silver-gold intercepts including 17m of 432 g/t Ag plus 1.10 g/t gold.

AbraSilver targets parallel Mineral Resource estimate and Definitive Feasibility Study releases in Q2/2026 ahead of a final investment decision by year-end.

Argentina's RIGI approval and the EIA permit are the gating catalysts; RIGI caps the corporate tax at 25% and zeros export duties for 30 years.

Geologists interpret higher-grade near-surface zones as the top of a deeper porphyry system, with Cerro Viejo and Sombra as follow-on targets.

Management argues the current market cap reflects an implied long-term silver price around $22, a steep discount to spot, supporting further re-rating.

Key points on AbraSilver Resource

  • Phase 5 drill program wrapped up as a banner year: mineralization remains open beyond the previous model in both directions, with high-grade gold continuing at Oculto East and silver-gold step-outs at Jack between Oculto.
  • DFS and updated resource/reserve estimate targeted for Q2 2026 with all final Phase 5 holes included; management aims for final investment decision before year-end 2026 as the company shifts from explorer to developer.
  • RIGI application submitted December 2025 with approval still targeted for Q1 2026; management frames the 30-year stability agreement as the key de-risking step for project financing.
  • EIA permitting pushed back a few weeks by Argentine holiday slowdowns but still expected within Q1 2026, with management citing no major hurdles as of the 2026-01-29 update.
  • Management argues the current share price implies roughly $22 long-term silver and $4,000 gold versus $100+ silver and ~$5,300 gold spot at the time of the call, citing a pre-feasibility NPV above C$7.5 billion at $90 silver / $4,700 gold.

Shad Markwitz's takeaways

  • Top takeaway Frames the update around the Phase 5 wrap-up and asks John to address investors who feel they have missed it, arguing DFS, EIA and RIGI catalysts still support further re-rating.
  • Asks John to unpack RIGI's economic advantages beyond the stability agreement for new listeners in the silver space.