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Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (FSE:FW0) ("Abitibi" or the "Company") is pleased to announce the identification of new exploration targets at the B26 Project, achieved through the application of advanced gravimetric surveying. The Company recently received an updated inversion model, which has revealed high-priority exploration targets. These targets present opportunities for exploration and resource development, including: 1) better defining the B26 signature along strike, and 2) testing a high priority anomaly at the down-dip extension of the B26 Deposit. On November 16th, 2023, the Company entered into an option agreement on the B26 Polymetallic Deposit to earn 80% over 7 years from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023).
Highlights:
- Prospective Down-Dip Anomaly: A new excess mass has been identified at a depth of 800m on the eastern side of the B26 Deposit, indicating strong sulfide and copper-zinc mineralization potential in an area outside the current resource. This new target has a diameter of 400–500 metres, with nearby drill holes containing semi-massive mineralization.
- Along-Strike Targets: Eight shallow targets have been identified along-strike of B26, extending up to 6-km west. These targets are within the 8.3 km property-wide contact that hosts the B26 Deposit and where there has been limited historical exploration.
- Northwest Targets: Four targets were identified to the northwest of B26, providing high-priority exploration targets along trend with the Selbaie Mine.
- Applying New Geophysical Techniques: Historical electrical surveys failed to differentiate mineralization from pyritic/graphitic rock. However, new data processing tools and down hole gravity surveys using Gravilog improve target discrimination at depth. Abitibi aims to integrate these with other tailored geophysical methods to better target the high-grade expansion of B26.
"The identification of these new high-priority targets at B26 marks a significant advancement in our exploration strategy," said Jonathon Deluce & CEO of Abitibi Metals. "The application of advanced gravimetric surveying and reinterpretation of historical data has allowed us to refine our targeting and enhance our understanding of the deposit and property wide potential. The down-dip anomaly, along with multiple along-strike and northwest targets, presents a compelling opportunity for resource expansion and discovery in previously underexplored areas. We are committed to leveraging cutting-edge geophysical techniques to unlock the full potential of B26 and drive long-term value for our shareholders."
Figure 1: Property Wide Targets (CNW Group/Abitibi Metals Corp.)
Figure 2: Gravity Anomaly 5513300N (CNW Group/Abitibi Metals Corp.)
Figure 3: Gravity Anomaly 5513400N (CNW Group/Abitibi Metals Corp.)
A strong gravity contrast was modeled along the down-dip extension of the B26 deposit that was based on: 1) Soquem's 2017 Gravilog survey, 2) density measurements from drill holes, and 3) a 2024 surface gravimetry survey. Abitibi Geophysics reinterpreted the Gravilog data with new inversion software that takes into account the variation in gravity along the drill holes. The interpretation was developed collaboratively by Abitibi Geophysics and Abitibi Metals geologists, to ensure that each anomaly corresponded to an area that was prospective geologically.
The survey was composed of 1466 stations distributed on 26 lines; 250 to 500 metres spaced, completed in June 2024 by Geophysics TMC. Abitibi Geophysics personnel conducted a survey analysis and reinterpreted the borehole Gravilog data, combining it with the surface gravity lines survey.
Down Dip Target
The modeled target has a diameter of 400–500 metres. Surrounding drill holes, such as 1274-17-255 W1, indicate strong sulfide content, with semi-massive intervals hosting copper-zinc mineralization over metric intervals near the upper limit of the gravity anomaly. Only the boundaries of this new target were covered with limited drilling and can be considered open. The majority of the target is located outside of the interpreted outline of the mineralized system and elevated copper equivalent grades have been observed in historical drill assays on the target's boundary. Highlights include: 1) 1.2% CuEQ over 10.5m starting from 767.1m (1274-16-231), 2) 2.4% CuEQ over 11.8m starting from 1,111m including 36.5% CuEQ over 0.7m (1274-16-239), and 3) 2.7% CuEQ over 10.5m starting from 990m including 15.1% CuEQ over 1.1m (1274-17-248) (see figures 2 and 3).
Along Strike and Northwest Targets
TMC Geophysics discriminated a series of positive gravity anomalies along strike, expending up to 6km west of B26 and also north-west of the deposit. The targets consist of vertical lenses with varying dimensions, as defined by the inversion model generated by Seequent Voxi-GRAV-3D Software. These targets were identified based on modeled density contrasts, including a 3 km-long elongated low density contrast aligned with the B26 system, as well as additional anomalies in the central area of the property, likely associated with sulfide-bearing volcanic contacts. A modeled low gravity anomaly may correspond to the contact at depth with the Brouillan intrusion. Abitibi Geophysics generated a model that focused on a gravity contrast of a few hundred meters south of the B26 zone. The inversion model was based on density measurements taken on drill core.
The surface gravity anomaly revealed a continuous gravimetry contrast covering the entire strike length of the Enjalran-Brouillan contact south of the B26 mineralized trend. The inversion model showed eight distinct high gravity anomalies. The eastern one corresponds to the position of the B26 mineralization. Going westward, the environment north of anomalies are not drill tested. Different interpretations suggest the anomalies may be related to the presence of mafic dyke swarms observed in the hanging wall of the VMS mineralization. AMQ intends to use these anomalies as a foundation for exploration, investigating their potential as proximity indicators for locating additional polymetallic mineralized systems.
These geophysical methods, integrated into the exploration strategy to locate additional mineralization at depth and along strike, are continuously evolving. Historically, the deposit was investigated using electrical methods, which were unable to effectively distinguish and clearly highlight the polymetallic stringers and vein systems from the strongly pyritic and locally graphitic units surrounding the deposit. By incorporating new analysis tools, the downhole gravity survey using system will enable Abitibi's technical team to better discriminate targets at depth with much greater detail. Moving forward, the Company will couple this approach with other geophysical methods that are specifically tailored to the B26 deposit and its unique geological characteristics.
Note 1: Targets identified consist of vertical lenses with varying dimensions, with a density of 3.0 g/cm³, and the inversion was based on deviations from a 2.67 g/cm³ density model. Shallow targets were identified based on a density contrast of up to 0.15 g/cm³.The local density model outlined below in figures 2 and 3 was established for the B26 deposit based on surface gravity. A depth response calculated using Gravilog measurements revealed a positive gravity contrast of 0.5 mGal, centered on section 652700 at approximately 800 metres vertical depth. |
Qualified Person
Information contained in this press release was reviewed and approved by Martin Demers, P.Geo., OGQ No. 770, a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.
References:
Simard, J. (2024). Report on a Ground Gravity Survey Completed on the B-26 Project, Brouillan Township, James Bay, Quebec. Submitted to Abitibi Metals Corporation, London, Ontario. Ref.: 24C-685.
Young, N. (2025). Borehole Gravity 3D Modelling Gravilog Inversion Memo. Prepared for Abitibi Metals Corp. by Abitibi Geophysics, Head Office 1740, Sullivan road, suite 1400, Val-d'Or, Canada, J9P 7H1.
About Abitibi Metals Corp:
Abitibi Metals Corp. is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind) & 7.2MT @ 2.21% Cu Eq (Inf), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres amongst four modeled zones.
About SOQUEM:
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Note 1: Copper equivalent values calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/ounce Ag and $1,800/ounce Au. Recovery factors were applied according to SGS CACGS-P2017-047 metallurgical test: 98.3% for copper, 90% for gold, 96.1% for zinc, 72.1% for silver.
Forward-looking statement:
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
AMQ:CNX
Corazon Mining
Investor Insight
Corazon Mining Ltd presents a compelling investment case driven by a strategic pivot to WA gold exploration, capitalising on its recent acquisition of the Two Pools gold project. This acquisition offers significant near-term exploration upside, while the company retains a high-quality portfolio of base and battery metals projects, providing long-term optionality and leverage to the evolving critical minerals market. This strategy positions Corazon to deliver shareholder value through potential high-impact discovery and future project development.
Overview
Corazon Mining Ltd (ASX:CZN) is an Australian junior exploration company focused on high-quality gold and critical minerals projects in Australia and Canada.
Company Highlights
- Two Pools Gold Project: The company’s primary focus is the newly acquired Two Pools Gold Project in Western Australia’s highly productive Plutonic Greenstone Belt. This underexplored tenure contains a recently identified 20km-long greenstone belt that was previously misclassified as granite.
- Confirmed High-Grade Mineralisation: Historical drilling at Two Pools has delivered standout intercepts, including 12m @ 8.89 g/t Au (incl. 3m @ 34.25 g/t Au) and 18m @ 3.89 g/t Au (incl. 4m @ 15.96 g/t Au).
- Trident-style Analogy: Drilling has confirmed mineralisation extends beneath overthrust granite, a key geological setting similar to Catalyst Metals’ nearby Trident Deposit, highlighting the potential for significant blind discoveries.
- Strategic Location: Two Pools is located just 60km from Catalyst Metals’ Plutonic Processing Plant, offering strong future development synergies
- Strategic Battery and Base Metals Portfolio: Corazon retains ownership of key projects in Canada and Australia including the MacBride Copper-Zinc-Gold Project and the historic Lynn Nickel-Copper-Cobalt sulphide camp in Manitoba, and the Mt Gilmore Copper-Cobalt-Gold project in NSW. These assets provide long-term exposure to critical metals.
- Compelling Value Proposition: Corazon offers a unique investment opportunity with a small market capitalisation but large, high-quality assets.
Key Projects
Two Pools Gold Project (Western Australia)
Project Highlights:
- A new, highly-prospective gold exploration project in the proven Plutonic-Marymia Greenstone Belt.
- The project covers 193km2 of underexplored tenure containing a newly identified 20km-long greenstone belt
- Historical Drilling and surface sampling have confirmed high-grade gold mineralisation, with a compelling geological setting analogous to other major deposits in the region.
Lynn Lake Base & Precious Metals (Manitoba, Canada)
Project Highlights:
- High-quality base and precious metals asset, offering strategic, long-term value.
- MacBride Copper-Zinc-Gold Project: High-grade, near-surface mineralisation and significant exploration upside for VMS-style deposits.
- Lynn Lake Nickel-Copper-Cobalt Project: Strategic long-term asset with a significant JORC resource -total contained metal of 116,800t Ni, 54,300t Cu, 5,300t Co. The project is fully permitted and benefits from established infrastructure. Refer ASX Announcement 27 Nov 2019.
Other Projects
- Mt Gilmore Copper-Cobalt-Gold (NSW, Australia): An emerging porphyry play with potential for a significant potential copper-gold system.
Management Team
Simon Coyle – Managing Director
Simon Coyle is a mining executive with over 20 years’ experience in the resources sector, spanning across gold, iron ore, manganese and lithium. He is a graduate of the Western Australian School of Mines and has held a number of senior operational leadership roles across both private and publicly listed companies.
Most recently, Coyle served as CEO and president of TSXV-listed Velox Energy Materials. Prior to this, he held senior roles at Pilbara Minerals, including general manager - operations, where he was instrumental in the development and expansion of its flagship lithium project, establishing it as one of the world's leading spodumene concentrate producers. Coyle currently serves as non-executive director of Kali Metals.
Kristie Young – Non-executive Chair
Kristie Young is a professional Board Director who began her career as a mining engineer in the mid 90’s across both underground and open cut operations (incl. Hamersley Iron, Mt Isa Mines, Plutonic Gold, New Hampton Goldfields, Surpac), feasibility studies and project evaluation. She holds a BEng(Mining) Hons from the University of Queensland.
Over 25 years’ industry experience, including business development director roles with both EY and PwC. She brings more than 15 years’ experience on boards and committees and currently serves as a non-executive director of Brazilian Rare Earths (ASX:BRE), Livium (ASX:LIT), Tasmea Ltd (ASX:TEA), and MinEx CRC.
She is a Fellow of the AusIMM and a graduate and Fellow of the AICD.
Scott Williamson – Non-executive Director
Scott Williamson is a highly experienced mining engineer with an Engineering and Commerce degree from the West Australian School of Mines and Curtin University. With more than 20 years of experience spanning technical and corporate roles in the mining and finance sectors, he brings a wealth of industry expertise and strategic insight. A proven leader in business development, Scott has extensive experience in equity capital markets, complementing his strong technical skill set.
Currently, he serves as managing director of Blackstone Minerals and non-executive Director of Leeuwin Metals.
Scott also holds a WA First Class Mine Manager's Certificate and is a member of the Australasian Institute of Mining and Metallurgy.
Robert Orr – Company Secretary and Chief Financial Officer
Robert Orr manages Corazon's financial operations and corporate governance, ensuring compliance and effective financial management.
Trump's Copper Tariffs: Market Impact and How to Invest
In the copper sector, tariff turmoil has created price volatility and left investors wondering how to position.
Trump's copper tariffs cause price turmoil
On February 25, not long after taking office for the second time, Trump initiated an investigation into copper's national security implications under Section 232 of the Trade Expansion Act of 1962.
Further details came months later, when the president provided an update on on July 8.
“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.
His comments came without an official announcement, although Secretary of Commerce Howard Lutnick said the tariff could take effect by late July or early August. This lack of clarity caused copper prices on the Comex to surge as traders worked to bring the metal into the US ahead of potential levies.
Copper price, January 1, 2025, to August 25, 2025.
Chart via Comex Live.
Ultimately, the Trump administration said on July 30 that copper tariffs would only be applied to unrefined copper, semi-finished and copper-intensive derivatives like pipe fittings, cables, connectors and electrical components.
Refined copper will be phased in at 15 percent in 2027 and 30 percent in 2028.
The move essentially pulled the rug out from prices and caused Comex copper to plummet nearly 25 percent.
Will copper tariffs boost US production?
Copper is increasingly being viewed as a critical mineral, and there are clear reasons why the US would want to increase production of the metal. But what do Trump's tariffs really mean for supply?
Taking a look at how US steel and aluminum tariffs played out in 2018, during Trump's first presidency, could provide insight. A March article published by Reuters analyzes the overall impact of those tariffs.
Prices started to rise in the lead up to the expected tariff deadline, similar to what happened with copper this time around, as importers began stockpiling products ahead of fee implementation. Steel prices rose 5 percent within a month of the tariffs being applied, while aluminum prices rose 10 percent. While they began to fall after just a few months, there was still a significant gap between prices for these products in the US and the rest of the world.
There were also more pronounced fluctuations between US and world prices as COVID-19 pandemic supply chain disruptions further impacted the steel and aluminum sectors.
While the steel and aluminum tariffs did stimulate domestic production of these materials, they ultimately weren't enough to overcome the price differential, as increased US output also faced headwinds.
The US is facing these same challenges with copper production. According to the US Geological Survey, in 2024 the US produced 1.1 million metric tons of unrefined copper and 850,000 metric tons of refined products. The US also exported 320,000 metric tons of concentrates and 60,000 metric tons of refined copper.
However, US demand requires 1.8 million metric tons of refined product annually, more than double US capacity — that's a key reason why refined products were exempted from tariffs.
In an email to the Investing News Network, Lauren Saidel-Baker, CFA, and economist with ITR Economics, spoke about the challenges that copper tariffs could pose to the US economy:
“The US does not have the capacity to produce all the copper that we consume. While there have been investments in new mining capacity, these facilities will take years to come online, leaving US businesses reliant on copper imports for at least the near term."
Although copper is classified as a critical mineral in the US, expanding existing operations will take years, and the time from discovery to opening a new mine could still take more than a decade.
One project nearing completion is Taseko Mines' (TSX:TKO,NYSEAMERICAN:TGB) Florence property in Arizona. The company acquired the asset in 2014, but a March 2023 technical report shows exploration dates back to the 1970s. After environmental assessments, permitting and the building of a test facility between 2017 and 2020, Taseko started full-scale construction of the mine in 2024, with the expectation that operations will begin in late 2025.
Likewise, new smelting operations will not come online until after the first phase of tariffs on refined copper are added in 2027. The newest smelter in the US is Aurubis' (OTC Pink:AIAGF) Richmond facility in Augustus, Georgia. The facility was designed to domesticate some of the more than 900,000 metric tons of scrap copper exported from the US to smelting facilities overseas each year. Construction took four years and US$800 million.
Once operational, the plant will produce 70,000 metric tons of refined copper annually, which is less than 10 percent of annual copper imports to the US.
Copper tariffs could weigh on other industries
Time isn't the only factor hindering the expansion of US copper production.
Mining is an energy-intensive business, and as demand for electricity grows, copper smelters may have to compete with other entities, similar to what happened in the steel and aluminum sector in 2019.
An April McKinsey report suggests that US power demand will grow at a CAGR of 3.5 percent, increasing from around 4,000 terawatt hours (TWh) in 2025 to about 5,000 TWh in 2030 and 7,000 TWh by 2040.
The report states that this increased demand could lead to bottlenecks as providers are faced with supply chain issues and shortages of dispatchable power as new projects face delays due to labor shortages and multi-year lead times for necessary equipment. It also notes that retail electricity bills have increased 6 percent per year since 2020.
The alternative for the copper sector would be to incur further capital costs by investing in off-grid capacity — this might also be affected by tariffs, as has been seen with photovoltaic imports.
The Reuters report evaluating steel and aluminum tariffs notes that the fees were ultimately lifted in 2019 due to the high cost of electricity and limited demand. The downstream effects meant that the manufacturing, construction and transportation industries faced higher costs, reducing growth in those sectors.
Likewise, a small uptick of about 8,000 jobs in the steel and aluminum sectors was outweighed by losses in other industries as companies sought to offset higher costs through efficiency gains.
One study concluded that the tariffs resulted in the loss of 75,000 manufacturing jobs.
Although the bulk of copper tariffs will be phased in starting in 2027 and 2028, that may not provide enough lead time to build new operations and ensure they have the inputs they need to carry out business.
If applied incorrectly, tariffs could have significant consequences for industries that rely on the red metal, including tech and construction, while also impacting overall economic growth.
“Tariffs will increase the cost to US importers and consumers of copper and related products, and will put downside pressure on potential growth,” Saidel-Baker said.
What should investors know about copper tariffs?
For investors interested in copper, the long-term picture is key.
Although Trump's scaled-back tariff announcement caused a price pullback, demand for copper is expected to significantly outweigh supply in the coming years, with experts calling for consumption from the tech industry and energy transition to add to growing requirements from urbanization in the Global South.
Whether tariffs will provide a competitive advantage for copper companies already producing and serving the US market remains to be see, but some market watchers see potential for that to happen.
For example, Morgan Stanley (NYSE:MS) upgraded its price target for Freeport-McMoRan (NYSE:FCX) to US$48 on August 11. In its reasoning, Morgan Stanley said that the market is not currently appreciating the benefits Freeport will gain from the tariffs, also noting that it will be able to raise pricing for 2026 copper rod contracts, a semi-finished product, which accounts for the majority of the company’s North American sales volume.
Robert Friedland, founder and co-chair of Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF), has come out in support of the tariffs, suggesting that they will help to rebuild the US copper industry. His reasoning is based on the national security issues inherent to having a single country dominate nearly 50 percent of the market of such a critical mineral.
Tariffs apply a new layer of uncertainty to an already challenging copper supply scenario. If tariffs are phased in gradually and industry is given the proper amount of time and investment, it could lead to a resurgence in US copper production and be a boon for those projects already in development; if not, then it could be a replay of 2018.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
