Abitibi Royalties Inc.: Malartic CHL Joint Venture 2012 Drill Assay Results
June 04 2013 - 9:57AM
Marketwired Canada
Abitibi Royalties Inc. (TSX VENTURE:RZZ) (the "Company" or "Abitibi Royalties")
is pleased to report the initial drill assay results from the 2012 drill program
on the Malartic CHL Prospect, located immediately east of Osisko Mining
Corporation's ("Osisko") 100%-owned Canadian Malartic gold mine property. The
information that follows has been provided to Abitibi Royalties by joint venture
partner and program operator Osisko.
The initial set of drill assay results contained herein pertains to the Mammoth
Extension Area, where a total of fourteen (14) holes (2,699 metres) were
drilled. Within this specific target area, four (4) individual zones have been
identified and include the "Gap Barnat-Jeffrey", "Sheehan", "Mammoth Extension"
and "Mammoth Area South".
Highlights from the fourteen (14) drillholes include, 60.90 metres averaging
1.31 g/t gold from the Mammoth Extension (CHL12-2451), 25.70 metres averaging
1.14 g/t gold from the Mammoth Extension (CHL12-2455), 45.60 metres averaging
1.32 g/t gold, including 1.2 metres averaging 8.71 g/t gold from the Sheehan
Zone (CHL12-2450) and 9.10 metres averaging 1.73 g/t gold, including 1.10 metres
averaging 9.23 g/t gold from the Gap Barnat-Jeffrey Zone (CHL12-2426).
Drillhole Assay Table
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From To Length Au g/t Cut-off
Hole No. Section (m) (m) (m) (uncut) g/t
Gap Barnat-Jeffrey
CHL12-2426 6575E 88.00 89.70 1.70 16.05 0.31
And 159.0 165.60 6.60 1.43 0.31
And 207.0 216.10 9.10 1.73 0.31
Incl. 214.0 215.10 1.10 9.23 0.31
Sheehan
CHL12-2450 6450E 5.90 51.50 45.60 1.32 0.31
Incl. 39.70 40.90 1.20 8.71 0.31
Mammoth Extension
CHL12-2451 6450E 4.74 13.00 8.26 0.98 0.31
And 119.60 180.50 60.90 1.31 0.31
CHL12-2452 6500E 130.10 145.20 15.10 0.81 0.31
CHL12-2453 6500E 150.00 194.60 44.60 0.89 0.31
Incl. 165.50 166.70 1.20 6.60 0.31
Sheehan
CHL12-2454 6550E 27.00 31.50 4.50 2.66 0.31
Mammoth Extension
CHL12-2455 6550E 88.50 114.20 25.70 1.14 0.31
And 125.30 165.80 40.50 0.69 0.31
Gap Barnat-Jeffrey
CHL12-2456 6525E 120.00 126.20 6.20 0.69 0.31
CHL12-2457 6525E 42.50 74.50 32.00 0.83 0.31
Sheehan
CHL12-2458 6525E 135.50 154.00 18.50 0.55 0.31
Mammoth Extension
CHL12-2459 6525E 115.50 120.50 5.00 1.69 0.31
CHL12-2460 6500E 22.00 41.00 19.00 1.10 0.31
AND 70.00 78.50 8.50 1.10 0.31
AND 110.00 115.50 5.50 1.71 0.31
Mammoth Area South
CHL12-2461 6500E 14.00 15.00 1.00 3.61 0.31
CHL12-2462 6500E 97.00 98.50 1.50 1.38 0.31
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Please refer to the attached Figures 1, 2 and 3 (available at the following
address: http://media3.marketwire.com/docs/Malartic_Osisko_figs_0604.pdf) for
the locations of the individual holes listed in the above drillhole assay table.
The assay results for the other five (5) targets tested in the 2012 drill
program will follow in separate news releases over the coming weeks. In summary,
the 2012 drill program consisted of thirty-one (31) new drillholes in addition
to two (2) drillhole extensions, totalling 5,660.2 metres targeting six (6)
separate targets (for details please refer the Company's May 6, 2013 news
release).
All NQ core assays reported above were obtained by standard 50 g fire
assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val-d'Or,
Quebec. Reported drill core weighted averages were calculated using a minimum of
0.40 g/t Au over successive intervals of 20 metres. The lengths of mineralized
intervals of less than 20 metres were minimized, and an upper cut-off of 31 g/t
Au was applied to individual assays where indicated. Intervals containing
individual assays that are greater than six times the average of the interval
are included separately. Intersected drifts or lost core within mineralized
intersections were incorporated as blank intervals.
Osisko follows strict QA-QC protocol measures in keeping with industry standards
and regulatory reporting requirements. Glenn J. Mullan, Chief Executive Officer
of Abitibi Royalties, is the Qualified Person (as such term is defined in
National Instrument 43-101 - Standards of Mineral Disclosure) who has reviewed
this news release and is responsible for the technical information reported
herein.
About Abitibi Royalties Inc.: Abitibi Royalties holds 100% title to the Luc
Bourdon and Bourdon West Prospects in Ontario and a 30% free-carried interest on
the Malartic CHL Property near Val-d'Or, Quebec which is the object of a joint
venture with Osisko Mining Corp. In addition, the Company holds a 2% net smelter
royalty interest in one additional claim held by Osisko, and may acquire and
generate other property and royalty interests.
Forward Looking Statements:
This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the Company believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or realities may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements
are made. Except as required by law, the Company undertakes no obligation to
update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
FOR FURTHER INFORMATION PLEASE CONTACT:
Glenn J. Mullan
President
819-824-2808, x 204
glenn.mullan@goldenvalleymines.com
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