Abcourt Mines Inc. (“Abcourt” or the “Corporation”)
(TSX Venture: ABI) (OTCQB: ABMBF) is
pleased to announce results from the underground diamond drilling
campaign at the Sleeping Giant mine.
As part of the optimization of the mining plan
with a view to support a prefeasibility study and starting
production, Abcourt has carried out, from December 2023 to July 31,
2024, 33 underground drilling holes totaling 3,650 meters.
According to the mining plan, the Zone 20 West
stope is among the first stopes to be put into production at
start-up. 11 holes totaling 1,118 metres were drilled in the Zone
20 West sector to better define the dimension and grade of the
planned stope.
Abcourt presents the results of 6 drill holes
totaling 641 meters drilled in Zone 20 West from level 235. The 5
other holes drilled in the sector are awaiting results.
The highlights of the analysis results, included in this press
release, are as follows:
- 125.67 g/t Au over 0.5 meter in hole
23-489.
- 46.08 g/t Au over 1 meter in hole 23-485.
The main results are displayed in Table 1:
Table 1: Main Underground Drilling Results from Zone 20
West |
Drilling |
From |
To |
Interval |
Au |
Vein |
Notes |
(m) |
(m) |
(m) |
(g/t) |
23-485 |
|
57.4 |
58.4 |
1,00 |
46.07 |
vein 1 |
|
23-486 |
No significant results |
|
western limit of the stope |
23-487 |
|
19.5 |
22.1 |
2.6 |
6.71 |
vein 2 |
|
|
Including |
19.5 |
20.1 |
0.6 |
16.97 |
|
|
|
and |
64.3 |
64.8 |
0.5 |
7.4 |
vein 1 |
western limit of the stope |
23-488 |
No significant results |
|
western limit of the stope |
23-489 |
|
19,00 |
20,00 |
1,00 |
7.19 |
vein 2 |
|
|
and |
62,00 |
62.5 |
0.5 |
125.67 |
vein 1 |
|
23-490 |
No significant results |
|
western limit of the stope |
Notes: |
|
|
1. The length
represents the length measured along the drill core. |
2. Assay results
are not capped, but higher-grade sub-intervals are
highlighted. |
The main results from the holes drilled at Zone 20 West are
illustrated in a longitudinal section (Figure 1).
Figure 1: Zone 20 West, Longitudinal
Section.
Drilling data shows that:
- Holes 23-485 and 23-489 confirm the high grades of the main
vein (vein 1) intercepted in holes 23-048, 23-459 and 23-192.
- Holes 23-486, 23-488 and 23-490 indicate the western limit of
the bottom of the planned stope.
- The upper limit of the stope as well as the western limit of
the top of the stope will be defined by holes 23-491, 23-492 and
23-494. These holes are already drilled and awaiting results.
It is also important to note the presence of a second vein (vein
2) subparallel to vein 1, located 30 m north of it (see figure 2).
This vein has been intercepted by several drill holes. The most
interesting intercepts are:
- 6.71 g/t Au over 2.6 meters including 16.97 g/t Au over
0.6 meters in hole 23-487.
- 50.19 g/t Au over 0.6 meter in hole 23-444
(drilled in 2021).
The extension of vein 2 is to be tested, particularly towards
the west.
Figure 2: Zone 20 West, Plan View Level
235.
The drilling campaign in Zone 20 West has been
completed. We are awaiting the results of the last drill holes to
finalize the interpretation and three-dimensional modeling of the
planned stope. Drilling operations continue underground at level
235 in Zone 3 South.
Mohamed Haithem Bennia, Superintendent
Geology at the Sleeping Giant mine, comments: “With a view
to continuously optimizing our production ramp up, we are
continuing our drilling and modeling work for our future stopes.
This approach is the best way to ensure tonnes of quality to supply
our mill while respecting deadlines and extraction objectives
towards commercial production.”
Quality Control Measures
(QA/QC)
The drilling, core description and analysis
preparation work was carried out under the supervision of Mohamed
Haithem Bennia, geo, superintendent geology, qualified person
according to Regulation 43-101.
Following an analytical quality assurance and
control program, blank samples and certified reference materials as
well as duplicates were added among the core samples before being
analyzed.
The half-cores were prepared at the Sleeping
Giant mine’s in-house laboratory according to industry
standards.
To reduce the time taken to receive analysis
results, part of the batch of samples used in the preparation of
this press release was sent, in the form of pulps, to an external
laboratory and the other part was analyzed at the internal
laboratory of the Sleeping Giant mine.
The samples analyzed in the internal laboratory
were carried out by fire analysis (A.A.) with atomic absorption
finishing. Samples with a grade greater than 10g/t Au were
reanalyzed with a gravimetric finish.
In order to validate the quality of analysis of
the internal laboratory, reanalysis were produced by Techni-Lab
S.G.B. Abitibi inc. division of ActLabs which is an accredited
external laboratory, registered to ISO 9001 and ISO/IEC 17025
certified CCN (lab707), MELCC (lab375) located in
Sainte-Germaine-Boulé, Quebec.
The audits show a high degree of correlation
with internal laboratory results.
The samples sent externally were analyzed by the
MSALABS laboratory in Val-d’Or, Quebec, using the Photon AssayTM
method. MSA operates numerous laboratories around the world and
maintains ISO-17025 accreditation for many metal determination
methods. MSA is an ISO-17025 accredited laboratory for the photonic
analysis method.
Qualified Persons
Mohamed Haithem Bennia, geo, superintendent geology of the
Sleeping Giant mine, wrote, collected, verified and approved the
technical information contained in this press release.
Pascal Hamelin, Eng, President and Chief Executive Officer of
the Corporation, has verified and approved the technical
information contained in this press release.
Mr. Hamelin and Mr. Bennia are qualified persons under
Regulation 43-101.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian gold
exploration Corporation with properties strategically located in
northwestern Quebec, Canada. Abcourt 100% owns the Sleeping Giant
mill and mine where it concentrates its activities. The Sleeping
Giant mine has a mining lease, as well as environmental
certificates of authorization to extract up to 750 tonnes per day
from its underground mine.
For more information about Abcourt Mines Inc.,
please visit our website and view our filings under Abcourt's
profile on www.sedarplus.ca.
Pascal
Hamelin |
Dany
Cenac Robert, Investor Relations |
President and Chief Executive Officer |
Reseau ProMarket Inc., |
T: (819) 768-2857 |
T: (514) 722-2276, post 456 |
Email: phamelin@abcourt.com |
Email : dany.cenac-robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news
release may constitute "forward-looking information" within the
meaning of Canadian securities legislation. Generally,
forward-looking information can be identified by using
forward-looking terminology, such as "plans", "aims", "expects",
"projects", "intends", "anticipates", "estimates", "could",
"should", "likely", or variations of such words and phrases or
statements specifying that certain acts, events or results "may",
"should", "will" or "be achieved" or other expressions Similar.
Forward-looking statements are based on Abcourt's estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause Abcourt's actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements or
information. Forward-looking statements are subject to business,
economic and uncertainties and other factors that could cause
actual results to differ materially from these forward-looking
statements, including the relevant assumptions and risk factors set
forth in Abcourt's public filings, which are available on SEDAR at
www.sedarplus.ca. There can be no assurance that these statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information.
Although Abcourt believes that the assumptions and factors used in
preparing the forward-looking statements are reasonable, undue
reliance should not be placed on such statements. Except as
required by applicable securities laws, Abcourt disclaims any
intention or obligation to update or revise any such
forward-looking statements or information, whether as a result of
new information, future events or otherwise.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/e0094f1a-87af-412a-a68d-4b9f189320ebhttps://www.globenewswire.com/NewsRoom/AttachmentNg/3135f079-a997-4245-860c-13b9ac1def95
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