VAL-D'OR, QC, March 2, 2018 /CNW/ - ABE Resources Inc. (TSXV: ABE) (OTC: ABEPF) (the "Company" or "ABE") is pleased to announce the acquisition of 170 claims covering over 9,250 hectares (92.5 square kilometres) adjacent to its Sirmac Lithium Property (the "Sirmac Property") recently acquired from Nemaska Lithium Inc. ("Nemaska"). ABE acquired the 170 claims from a group of prospectors for CDN$20,000 with no underlying royalties, obligations or share issuances.
The Sirmac Property consists of 24 mining claims (1,100 hectares). The addition of this land package will bring the total property package to 194 claims totalling 10,350 hectares. The property is well situated approximately 180 kilometres North-West of Chibougamau, in the province of Québec. Two well known deposits flank the Sirmac project, the first being the Nemaska Lithium Whabouchi project boasting 37M tonnes Li2O reserves to the north and Moblan lithium project, which has 14M tonnes Li2O resources to the east.
"The region of Quebec that we are in has produced some world class lithium deposits that have attracted significant capital and strategic investment. This week we saw a Chinese battery maker invest US$79M in the Moblan project which is only 50 km to the east of us. These lithium bearing dykes tend to come in swarms and we know the Sirmac Property is part of a swarm of dykes. Our goal is to build a significant resource that is of similar calibre to our neighbours to the north and east," commented Yves Rougerie, the President and CEO of ABE.
The Company has also recently completed a 293 line-kilometre high-resolution airborne MAG survey over the Sirmac Property block. The survey results will be interpreted and used to better define the geology of the property and pegmatite dyke occurrences in order to plan field work and diamond drilling programs.
Mr. Rougerie added, "The Sirmac Property hosts the #5 Dyke on which Nemaska completed more than $2-million of exploration work in 2011 and 2012 consisting of 72 shallow drill holes, extensive trenching and channel sampling that led to a historical resource estimate. There are at least twelve sparsely outcropping pegmatite dykes on the property, some of which are lithium-bearing and most of which have yet to be tested by drilling. The 170 new claims cover over 90 square kilometres immediately east of our Sirmac Property where we believe the potential for discovery of additional lithium-bearing dykes is excellent."
About ABE Resources Inc.
ABE Resources Inc. is a junior exploration company focused on exploring and developing high quality battery mineral assets including lithium and copper in safe jurisdictions. The Company is led by skilled and qualified mineral exploration and business professionals with a deep understanding of the lithium battery materials market which is driven by lithium ion batteries. ABE is committed to discovering new world class assets and bringing these assets to production, starting with its flagship projects the Sirmac lithium property and the Dôme Lemieux copper property, both located in Québec, Canada. Nemaska Lithium Inc. is the largest shareholder of ABE.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE ABE Resources Inc.
For further information: please contact: ABE Resources Inc., Yves Rougerie, President and Chief Executive Officer, Tel: 819-874-6200, Email: [email protected]