Abitibi Metals Identifies New Drill Targets from Gravity Survey
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.
LONDON, ON, Feb. 14, 2025 /CNW/ - 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).
"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."
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
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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.
SOURCE Abitibi Metals Corp.
For more information, please call 226-271-5170, email [email protected], or visit https://www.abitibimetals.com.
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