Abcourt Starts Drilling Campaign on its Flordin Property
January 09 2025 - 8:29AM
Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX
Venture: ABI) (OTCQB : ABMBF) is
pleased to announce that it is starting a drilling campaign on the
Flordin Property. This first phase of drilling, of a minimum of
3,000 metres, will be spread over two different sectors of the
property, namely the Cartwright sector and the Flordin sector.
Summary of Drilling Work (Phase
1):
More than 1,000 metres of drilling (short holes)
will be done directly below the 2024 stripping of the Cartwright
Zone. The new holes drilled under the trench will validate at depth
the results of the No. 6, No. 8 and No. 11 channels announced in
the fall of 2024 (press release October 24, 2024). It should be
noted that a drilling campaign is currently underway at the
boundaries of our property by our immediate neighbour O3 Mining
(See Figure 2-3).
Channel 6: 22.7 g/t gold over 7 metres
including 162 g/t gold over 0.5 metre; Metal Factor (X Thickness
Content): 159
Channel 8: 5.4 g/t gold over 10 metres
including 38 g/t gold over 0.5 metre; Metal Factor (Content X
Thickness): 54
Channel 11: 10.4 g/t gold over 12 metres
including 50 g/t gold over 0.5 metre; Metal Factor (Content X
Thickness): 124
Subsequently, more than 2,000 metres of drilling
(deep holes) are planned under and in extensions of the South Zone
of the Flordin deposit. This area was discovered in 1988 by Cambior
and was not subject to subsequent follow-up work. Several
significant gold intersections are reported, including hole S158
which returned 3 g/t gold over 16 metres. The style of
mineralization described in the drill logs by Perrier (GM 46856)
appears to be consistent with the mineralization observed on the
Cartwright stripping. Indeed, high-grade gold mineralization is
associated with pyrite bands in altered zones rich in
hematite-silica-carbonate. Deep drilling in this area will confirm
our initial working hypothesis that this type of high-grade gold
mineralization is continuous from the Flordin deposit to the
Cartwrigth area, a possible extension of approximately 2
kilometres.
Figure 1: Regional Location of the Flordin
Property
Figure 2: Location of the property
Figure 3: Drilling 2025 location
Pascal Hamelin, President and Chief
Executive Officer comments: “This first phase of drilling
work of a minimum of 3,000 metres, which has already been funded,
is only the beginning of our ambitious development plan for our
Flordin project. If we confirm the similarities of the
mineralization observed in the Cartwright and Flordin areas, we
will have a high-grade gold corridor of more than 2 kilometres to
test and define to link the mineralized zones together and thus
increase the number of ounces of gold on our Flordin property.”
Qualified Persons
Robert Gagnon, P.Geo. and Company's
Vice-President, Exploration, has reviewed and approved the
technical information contained in this press release.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration
company with properties strategically located in northwestern
Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill,
where it focuses 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
HamelinPresident and Chief Executive
OfficerT: (819) 768-2857Email:
phamelin@abcourt.com |
Dany
Cenac Robert, Investor RelationsReseau ProMarket
Inc.,T: (514) 722-2276 ext.: 456Email:
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 similar expressions.
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/5a4e5326-decd-4407-ba99-7cfc93343016https://www.globenewswire.com/NewsRoom/AttachmentNg/7c13509c-b291-4dcb-af43-73cc576cf605https://www.globenewswire.com/NewsRoom/AttachmentNg/a52b44e8-9608-494e-b5e6-9022e4cb5e5d
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