VAL-D'OR, QC, Aug. 24, 2017 /CNW Telbec/ - ABE Resources Inc. (TSXV: ABE) (the "Company" or "ABE") is pleased to announce that a contract has been awarded to MRB & Associés, a Val d'Or based geological consulting firm, to create a 3D model of the recently acquired Dome Lemieux property in the Gaspésie region of eastern Québec. The Dome Lemieux is a large property, covering over 110 square kilometers with more than 66,000 metres of drilling completed in over 270 holes. The 3D model will incorporate the available historical exploration and geoscientific data from the area and allow the Company to build a comprehensive model from which it can determine priority targets and plan exploration programs.
"We are shifting our attention at ABE to metals like copper that have witnessed a downturn in the commodity price but are now poised to strengthen as the traditional uses of copper appear to be on the rise while inventories remain low" commented Yves J. Rougerie, President and CEO of ABE Resources. "While the property has benefited from a great deal of historical exploration, we believe this is the first time that a land package of this size has been under the control and direction of one company. We are very excited to see the results of this 3D model and to take a systematic approach to exploration, encompassing all the geological, geophysical and geochemical work to date on the property."
Rougerie continued "We are also looking at other markets for copper that show tremendous growth such as lithium-ion batteries. These batteries use a number of metals including lithium, cobalt, nickel, manganese, graphite, copper and aluminium. We are actively seeking complimentary properties that show the potential to host these metals of the new millennium."
About the Dome Lemieux property
The Dome Lemieux property is characterized by a large buried intrusive that pushed up into the surrounding sedimentary formations forming a dome. Structurally, the central area of the property, the dome itself, is cut by a network of regional faults that strike NE-SW to NW-SE, effectively dividing the property in structural blocks.
The property has been explored by several different companies following the original discovery of the Federal Pb-Zn mine in 1909 and over 20 significant mineral occurrences have since been discovered. The Federal, Big Pioneer and South Brandy occurrences were all explored underground prior to WWII through shafts and/or adits with relatively minor lateral development and mining. Historical resources were calculated in the past for at least two deposits and some minor unreported production was presumed from the Federal Pb-Zn deposit during WWII.
Numerous work programs have been completed on the property:
- Most of the work prior to 1980 concentrated on the surface-exposed polymetallic Cu or Zn-Pb-Ag veins discovered in the central part of the property. Multiple ground geological and geophysical surveys were performed, and at least 7 km of trenches were dug prior to 1990. Also, 105 drill holes are recorded before 1980 for a total of 21,866 metres. In 1996, a company mined a 500t bulk sample from the "Veine à René" with 130t hand sorted and sent to Noranda's Murdochville mill and smelter site where the average copper grade obtained was 16.71%.
- Between 1980 and 2000, larger companies such as Noranda explored the deep-seated Cu skarn and/or Cu-Mo porphyry potential, completing almost 12,000 metres in only 20 holes. Drilling deep holes at the time was challenging and copper prices also hit historic lows.
- Since 2000, Ressources Appalaches and Threegold Resources worked extensively on the central area vein zones once again. These zones are laterally very extensive and can reach 10 metres in width with varying amounts of Pb-Zn-Cu mineralization. Appalaches completed over 7 km of trenches in 3 years along with over 10,000 metres in 56 drill holes. Threegold acquired Appalaches' interest and continued working the same general areas, completing an additional 2.5 km of trenches and almost 24,000 metres in 89 drill holes. Together, Appalaches and Threegold spent almost $5M on the property between 2001 and 2011. None of this work has led to a resource assessment for any zone.
Building a 3D model of available data will allow ABE to see the historical work under a new light, allowing new views, creating new ideas and exploration proposals to be brought to the forefront. Future programs will be based on the interpretation resulting from the 3D model.
About ABE Resources Inc.
ABE Resources Inc. is a Quebec mineral exploration company focused on the discovery and development of mineral deposits of economic potential primarily in the province of Quebec. The Dome Lemieux property was acquired when ABE acquired Pioneer Resources. The property is in the same structural corridor that hosts the Gaspé Copper Mine in Murdochville, 50 km to the ENE, which produced approx. 142 Million Tonnes @ 0.85% Cu from 1955 to 1999, the Madeleine mine, 18 km to the NNE, which produced approx. 8 Million Tonnes @ 1.08% Cu and 9.0 g/t Ag prior to 1982 and the Sullipek deposit, 15 km to the E, which has historical copper resources. These three deposits are not within the property limits. Please note that the results obtained at these three deposits are not necessarily an indication of the mineralization present on the Dôme Lemieux property
The information in this release has been reviewed and approved by Yves Rougerie, geo, President and CEO of ABE Resources. Mr. Rougerie is a qualified person as defined by National Instrument 43-101.
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: ABE Resources Inc., Yves Rougerie, President and Chief Executive Officer, Tel: 819-874-6200, Email: [email protected]