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Abcourt Mines Inc. ("Abcourt" or the "Company") (TSX Venture: ABI) (OTCQB: ABMBF) reports main drilling results completed in October and November 2024.
As part of the mineral resource update and to support the engineering work in the preparation of an economic prefeasibility study, Abcourt completed 62 holes in 2024, between levels 235 and 295, for a total of 5,977 metres of drilling.
Of these holes, 20 were drilled from level 295 and target zones 04 and 05 for a total of 1,757 metres of drilling. Abcourt presents the main results of these 20 holes.
The highlights of the assay results, included in this press release, are as follows:
- 171.53 g/t Au over 0.5 metre in hole 29-287.
- 126.55 g/t Au over 0.8 metre in hole 29-284.
Mohamed Haithem Bennia, Superintendent Geology at the Sleeping Giant mine, comments: "The underground drilling carried out at Sleeping Giant since December 2023 has increased our mineral resources and better defined them. It is therefore with great enthusiasm that we will continue drilling and resource update work. We will also continue to support engineering in the preparation of a prefeasibility study. The results of this drilling campaign reinforce our conviction of the great potential of our Giant and that we are taking the right steps to awaken it."
The main results are displayed in Table 1:
| Table 1: Main Underground Drilling Results - Zones 04 & 05 (Drilled from Level 295) | ||||||
| Forage | De | A | Intervalle | Au | Veine | |
| (m) | (m) | (m) | (g/t) | |||
| 29-274 | No significant results | lower limit of the mineralized zone | ||||
| 29-275 | No significant results | lower limit of the mineralized zone | ||||
| 29-276 | 47.00 | 47.50 | 0.50 | 9.59 | ||
| 29-277 | No significant results | lower limit of the mineralized zone | ||||
| 29-278 | 34.00 | 34.70 | 0.70 | 5.76 | ||
| 29-279 | No significant results | lower limit of the mineralized zone | ||||
| 29-280 | 51.00 | 51.50 | 0.50 | 10.35 | ||
| 29-281 | No significant results | lower limit of the mineralized zone | ||||
| 29-282 | 58.00 | 58.50 | 0.50 | 20.16 | ||
| 29-283 | 47.80 | 48.30 | 0.50 | 21.76 | ||
| 29-284 | 33.60 | 34.40 | 0.80 | 126.55 | ||
| 29-285 | 51.50 | 52.50 | 1.00 | 39.50 | ||
| Incluant | 52.00 | 52.50 | 0.50 | 68.58 | ||
| 29-286 | 49.70 | 50.20 | 0.50 | 5.61 | ||
| 29-287 | 27.20 | 27.70 | 0.50 | 171.53 | ||
| 29-288 | 59.50 | 60.00 | 0.50 | 5.64 | ||
| 29-289 | 65.30 | 65.80 | 0.50 | 6.79 | ||
| 29-290 | 45.90 | 46.40 | 0.50 | 23.26 | ||
| 29-291 | 46.50 | 47.10 | 0.60 | 74.01 | ||
| 29-292 | 43.60 | 44.20 | 0.60 | 57.46 | ||
| 29-293 | 36.30 | 36.80 | 0.50 | 22.48 | ||
| 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. | ||||||
Figure 1 shows the location of zones 04 and 05.
Figure 1: Location of zones 04 and 05.
The main drilling results from Zones 04 and 05 are illustrated in Figure 2:
Figure 2: Main results - Intercepts from Zones 04 and 05
Drilling data shows that:
- The drill holes intercepted several interesting, mineralized intervals that appear to outline several subparallel veins;
- The results of the holes drilled from the South bay are more interesting than those drilled from the North bay;
- This vein arrangement is confirmed by the mapping work in the drifts developed in these areas (Figure 3);
- These veins appear to be the lower extension of the 23-S04-5-E327 and 23-05-E328 stopes optimized by Deswik in the 2023 Preliminary Economic Assessment. 3D modeling will give us more detail on the continuity and extension of these veins.
Figure 3: Vein mapping (zones 04 & 05)
Next Steps:
For zones 04 and 05:
- Interpretation and update of the 3D modeling of the mineralized veins for zones 04 and 05;
- Reassess and update the mineral resources of these zones;
- Support the engineering team to optimize the design of the stopes.
In the upper levels of the mine:
- Continue the rehabilitation work of the galleries to prepare the drilling bays;
- Continue the drilling, modeling and updating of resources.
In the lower levels of the mine:
- Continue the phase 1 of drilling of the 785N zone as well as the lower East zone of the mine;
- Reassess the potential of the upper part of the 785N zone (phase 2).
Quality Control Measures (QA/QC)
The drilling and core description work was carried out under the supervision of Mohamed Haithem Bennia, geo, Superintendent Geology, qualified person according to Regulation 43-101.
The alignment of the drill holes as well as the measurements of the deviations are done with high-precision instruments (Devialigner and Devigyro) using Gyroscopic technology to guarantee the quality of our data.
The quality assurance and quality control protocols include insertion of blank, standard and duplicate samples every 25 samples, in addition the laboratory add its internal samples control.
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 samples used in the preparation of this press release was sent (pulp/reject material) to an external laboratory (MSALABS laboratory in Val-d'Or) and the other part was analyzed at the Sleeping Giant mine's in-house laboratory.
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 by fire assay with finish by gravimetry.
To validate the quality of the internal laboratory analysis, a batch of pulp samples were reanalyzed 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.
The Qualified Persons has not completed sufficient work to verify the historical information on the Property. However, the Qualified Persons believes that drilling and analytical results were completed to industry standard practices according to the previous technical reports.
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 exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its exploration and development activities.
For more information about Abcourt Mines Inc., please visit our website www.abcourt.ca 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, ext. : 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.com . 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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/592ef5e8-0301-4d98-b215-d7228bb1a17f
https://www.globenewswire.com/NewsRoom/AttachmentNg/b1ad137d-898b-4cbb-93cc-57b26aba2533
https://www.globenewswire.com/NewsRoom/AttachmentNg/e55bff99-19bd-4d6b-ae51-b94d10ded803
