"We are very encouraged by these positive initial results from the Phase III drill program," said Jonathon Deluce, CEO of Abitibi Metals. "The assays not only confirm the potential for resource growth, but also align closely with our block model by intersecting mineralization where predicted. This supports both the continuity and predictability of the deposit. These first four holes represent progress on one of the three strategic objectives of Phase III, which is focused on increasing overall resource grade by expanding known higher-grade zones within the block model."
To recap, Phase III is a fully funded drilling program designed around three strategic objectives: increasing the overall B26 resource by expanding Higher-Grade zones in the block model; extending open-ended mineralized trends outside of the B26 block model and unlocking regional potential with new discoveries across AMQ's 3,328-hectare property.
The results from these initial holes further validate the continuity of mineralization within the current resource model of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag). The Company anticipates these results to positively contribute to the expansion of its mineral resource base.
Table 1: Significant Intercepts from Initial Phase III
Hole ID |
From (m) |
To (m) |
Length (m) |
CuEq (%) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Zn (%) |
1274-25-363 |
412.3 |
475.5 |
63.2 |
0.99 |
0.82 |
0.14 |
3.87 |
0.09 |
incl |
414.9 |
436.8 |
21.9 |
1.53 |
1.21 |
0.23 |
6.97 |
0.24 |
incl |
426.7 |
430.4 |
3.7 |
2.92 |
2.34 |
0.57 |
9.21 |
0.17 |
incl |
455.5 |
459.6 |
4.1 |
4.82 |
4.21 |
0.67 |
9.40 |
0.02 |
1274-25-364B |
577.9 |
580.5 |
2.6 |
0.83 |
0.61 |
0.22 |
2.76 |
0.04 |
and |
601.5 |
608.8 |
7.3 |
1.43 |
1.36 |
0.07 |
1.94 |
0.01 |
incl |
603.55 |
607.2 |
3.65 |
2.65 |
2.56 |
0.09 |
3.56 |
0.01 |
and |
615.8 |
618.0 |
2.2 |
1.11 |
0.85 |
0.30 |
1.25 |
0.01 |
1274-25-365 |
507.2 |
518.2 |
11.0 |
2.13 |
1.49 |
0.75 |
2.87 |
0.01 |
incl |
511.5 |
518.2 |
6.7 |
3.12 |
2.10 |
1.19 |
4.09 |
0.01 |
and |
538.6 |
546.0 |
7.4 |
0.80 |
0.41 |
0.46 |
1.07 |
0.01 |
1274-25-366 |
546.0 |
575.6 |
29.6 |
1.84 |
1.32 |
0.52 |
8.18 |
0.09 |
incl |
566.3 |
574.6 |
8.3 |
3.38 |
2.56 |
0.89 |
10.67 |
0.03 |
and |
588.4 |
612.5 |
24.1 |
0.63 |
0.56 |
0.07 |
1.83 |
0.02 |
incl |
601.4 |
607.0 |
5.6 |
2.11 |
1.90 |
0.22 |
4.27 |
0.02 |
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates core length corresponding generally to 70 to 80% of the mineralized lens' true width. |
Note 2: Copper equivalent values calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/ounce Ag and $2,500/ounce Au. Recovery factors were applied according to SGS CACGS-P2017-047 metallurgical test: 98.3% for copper, 90.0% for gold, 96.1% for zinc, 72.1% for silver. |
Note 3: Intervals are generally composited starting with a 0.1% CuEq cut-off and between 0.6% CuEq cut-off grade for the "including" intervals, allowing for up to 3 consecutive samples below cut-off grade. |
Discussion of Results:
The objective of the spring program was to obtain drill intercepts within high-grade copper stringer shoots located in sparsely drilled areas (100-200m gaps) of the block model at mid-range depths. The four drill holes cut typical chalcopyrite chlorite stringer mineralization style at predicted depths. The best intercepts came from holes 1274-25-363 and 1274-25-366, both in the eastern portion of the deposit and in proximity to the north-south trending post mineral diabase dyke. Drill hole 1274-25-366 returned grades and thickness significantly higher than the block model. These results reinforce expectations for significant expansion potential of the deposit, as well as improvements in grade and thickness in the eastern area compared to what is currently reflected in the block model. Drill hole 1274-25-365 intercepted higher grades than predicted by the block model and confirmed surrounding historical intercepts.
Table 2: Drill Hole Information
Drill hole number |
UTM - East |
UTM - North |
Elevation |
Azimuth |
Dip |
Length (m)
Drilled |
1274-25-363 |
653350 |
5513165 |
270 |
345 |
-65 |
486 |
1274-25-364B |
652552 |
5513089 |
277 |
347 |
-61 |
687 |
1274-25-365 |
652552 |
5513089 |
277 |
349 |
-51 |
555 |
1274-25-366 |
653200 |
5513085 |
270 |
347 |
-72 |
676.5 |
Note 1: Numbers have been rounded to the nearest whole number in the table above. |
QAQC
The core logging program was run by Technominex in Rouyn-Noranda, Quebec. The drill core was split in half, sent to AGAT Laboratories Ltd. All sample preparation takes place in Val-d'Or, all fire assay takes place in Thunder Bay and all four acid digestion and multi element analysis takes place in Calgary. Prepared samples are fused using accepted fire assay techniques, cupelled and parted in nitric acid and hydrochloric acid. Sample splits of 30g are routinely used though 50g may also be used (AGAT Code 202 551). 0.2g of prepared samples are digested with a series of acids (HClO4, HF, HCL and HNO3) at a temperature of ~200oC until incipent dryness. It is then heated with HNO3 and HCl, then diluted to 12mL with de-ionized water. While very aggressive, the solubility of some elements can be dependent on the mineral species present and as such, data reported from the 4-Acid digestion should be considered as representing only the leachable portion of a particular analyte. Some elements show poor recovery due to volatilization (B, As, Hg). PerkinElmer 7300DV/8300DV ICP-OES and Agilent 5900 ICP-OES instruments are used in the analysis. Inter-Element Correction (IEC) techniques are used to correct for any spectral interferences. Blanks, sample replicates, duplicates, and internal reference materials (both aqueous and geochemical standards) are routinely used as part of AGAT Laboratories quality assurance program. AAS instruments are used in the analysis. Technominex also applied a QAQC protocol including insertion of blanks, standards and reject duplicates.
Qualified Person
Information contained in this press release was reviewed and approved by Louis Gariépy, P.Eng (OIQ #107538), VP Exploration of Abitibi Metals, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.
About Abitibi Metals Corp:
Abitibi Metals Corp. (CSE: AMQ) 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 estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), 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 (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) 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
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report : February 26, 2025 |
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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