Abcourt begins drilling on its Flordin property in the Lebel-sur-Quévillon area
November 02 2023 - 8:00AM
Mines Abcourt Inc. (‘‘Abcourt” or the “company”) (TSX
Venture : ABI) is pleased to announce that a new drilling
program is starting on its Flordin property (100% ABI) in the
Lebel-sur-Quévillon area. The drill is already in action to carry
out a minimum campaign of 1,300 metres. The objective of this
campaign is to validate the lateral and depth continuity of a
gold-bearing shear zone in the eastern sector of the property that
has historically returned
6.49 g/t gold
over 2.1 m and 22.63 g/t gold over 3.5 m (hole FL-18-254).
Following the compilation of data and
re-verification of existing drill core, Abcourt's team confirmed
that the mineralized zone is not associated with quartz-carbonate
veins but rather with a shear zone in a basalt strongly altered in
ankerite and hematite. The mineralization consists of fine
disseminated cubic pyrite. In addition, Abcourt's team hypothesizes
that the two high-grade gold zones are likely connected and form a
single mineralized zone of multi-metre-thick high-grade gold. It
should also be noted that the gold shear was intersected within 40
meters of surface.
This drilling campaign will develop new gold
potential that has been undervalued in the past. It should also be
noted that the latest Mineral Resource Estimate (MRE) completed in
2023 by Innovexplo is available on SEDAR+ for consultation. It
reports a NI 43-101 compliant resource of 1,530,000 tonnes of
measured and indicated grade at a grade of 2.15 g/t gold for a
total of 107,000 ounces of gold. This new drilling campaign will
potentially increase the resources of the main deposit as the newly
exposed shear zone is located in a less densely drilled area of the
property.
Pascal Hamelin, President, and
CEO Comments: This new
drilling campaign on our Flordin property confirms our future
development vision, which is to concentrate exploration efforts
within a 100 km radius of our Sleeping Giant Mill. With the current
rise in the price of gold to nearly US$2,000 per ounce, we are the
only junior company currently able to capitalize and deliver ounces
of gold quickly. As such, it is imperative to make the most of our
many potential gold projects that can secure the Company's future
ounces of gold.
Qualified Persons
Mr. Pascal Hamelin, P.Eng., President and Chief
Executive Officer of the Company, has reviewed and approved the
technical information contained in this press release.
Figure 1 – Flordin property
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,
where it concentrates its development activities.
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
CEO |
Reseau ProMarket
Inc., |
T :
(819) 768-2857 |
T : (514) 722-2276,
poste 456 |
Courriel : phamelin@abcourt.com |
Courriel :
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.
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