ROUYN-NORANDA, Quebec, Sept. 26, 2024 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) (OTCQB : ABMBF) is pleased to announce that the applications for a second stripping (phase 2) and drilling (South Zone sector) have been submitted to the Ministry of Natural Resources and Forestry. The permit for the execution of the stripping phase 2 has been received, while the application for the new holes is currently being analyzed. During the first phase of stripping, Abcourt intersected 22.7 g/t gold over 7 meters on stripping No. 2; Refer to the press release dated August 22, 2024. The new application for an intervention permit covers an area of 0.35 hectare that will link the previously stripped areas. This new exposed surface over approximately 200 meters in length will allow for the addition of new channels that will confirm the lateral extension of the high-grade gold mineralized zones. The Company will begin its stripping work next week.
Regarding the drilling work that will be carried out on the Flordin Property, the Company has submitted an application for authorization for the completion of four holes (total of 2,500 metres) in the area of the South Zone that was discovered by Cambior in 1988. Hole S-158 returned 3 g/t gold over 16 meters. The next drilling campaign will aim to confirm the continuity of the mineralization at depth, i.e. at more than 400 meters. We believe that the type of mineralization characteristic of the South Zone, which is described as being associated with pyrite bands, will be the same as that observed in the Flordin East and Cartwright area. The next holes will be strategic and will validate the continuity of this type of mineralization over more than 2 km laterally. Drilling is expected to begin in November 2024.
Figure 1: Overview and Location of Areas of Interest
Figure 2 : Location of the New Drill Holes for the 2024 Campaign
Figure 3: Longitudinal Section (looking north) with the Projection of the New Holes
Pascal Hamelin, President and Chief Executive Officer commented: “The upcoming work to be undertaken by the Company on the Flordin property demonstrates our seriousness in developing our flagship projects in an area that is becoming increasingly effervescent and in the spotlight.”
Figure 4 Location of the Flordin Property
Qualified Persons
Robert Gagnon, Geo., the Company’s Vice President Exploration, has reviewed and approved the technical information contained in this press release.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website and view our filings under Abcourt’s profile on www.sedarplus.ca
| Pascal Hamelin | Dany Cenac Robert, Investor Relations |
| President and Chief Executive Officer | Reseau ProMarket Inc., |
| T : (819) 768-2857 | T : (514) 722-2276, ext. 456 |
| Email : phamelin@abcourt.com | Email : dany.cenac-robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by forward-looking terminology, such as “plans”, “aims”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “could”, “should”, “likely”, or variations of these words and phrases or statements specifying that certain acts, events or results “may”, “would”, “would”, “would”, “would”, “would”, “occur” or “be achieved” or other expressions Similar. Forward-looking statements are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set out in Abcourt’s public filings, are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any of these forward-looking statements or information, whether as a result of new information, future events or otherwise.
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