Abcourt Acquires Nine (9) Claims Contiguous to its Abcourt-Barvue Property in Abitibi-Témiscamingue.
April 16 2024 - 9:17AM
Abcourt Mines Inc. (“Abcourt” or “the Company”) (TSX
Venture : ABI) is pleased to announce that it has obtained
by map designation on April 14, 2024, nine (9) claims contiguous to
its Abcourt-Barvue Property, located in the Barraute area, in
Abitibi-Témiscamingue. The Abcourt-Barvue Property consists of two
mining leases and 103 designated cells for a total of 5,123.4
hectares. Abcourt owns 100% of the Property, which is free of any
royalty.
The addition of these 9 claims to the Property
is strategic as they partially cover the continuity of the Figuery
Group, which hosts the zinc-silver mineralization recognized on the
Property. Following the increase in the price of silver, the
Company decided to add these claims to its already large original
block. Indeed, at publication in 2019 of the last economic
opportunity study done by Paul Bonneville, P.Eng. the terms of
reference for the price of silver was set at 16$USD/oz. As of
today, the silver is trading at over USD 28$/oz. It is important to
note that the Abcourt-Barvue Property is one of the few advanced
zinc and silver projects in Abitibi-Témiscamingue. The latest NI
43-101 compliant mineral resources estimate, completed in 2014 by
J-P Bérubé, P. Eng. (available on SEDAR+), indicates the presence
of a measured and indicated category resource in the order of 8
million tonnes of ore at 3% zinc and 55 g/t Ag.
Pascal Hamelin, President and CEO,
comments: « Since the Government of Canada's addition of
zinc to the list of critical minerals in 2021, we believe we are in
a good position to capitalize on a forward-looking project in terms
of energy transition. Indeed, with the rising prices of zinc, and
especially silver, our Abcourt-Barvue project is one of the most
advanced in Quebec and could become the next zinc mine.»
Qualified Persons
M. Robert Gagnon, Geo. Vice President
Exploration of the Company, has reviewed and approved the technical
information contained in this press release.
Figure 1: Location of New Claims, NTS File
32C/12
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, 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.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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9375b0-c360-44f7-9198-7d08d8381d6d
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