Rouyn-Noranda, Canada, February 13, 2025 – Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) announces the results of the first holes of its drilling program to develop the deep mining potential of the Sleeping Giant mine.
In January 2025, Abcourt completed 2 underground drill holes totaling 928 metres from level 785. The highlights of the analysis results, included in this press release, are as follows:
Pascal Hamelin, President and CEO, comments: “We are very excited to see good drilling results in this intact area of the mine. This could open the door to a whole new and rich extraction zone with additional drilling. In addition, this sector is located above the lower level of mine. The shaft and mining infrastructure are well advanced in this sector to quickly convert mineral resources into a source of income within a few quarters.”
The main results are displayed in Table 1:
Table 1: Main Underground Drilling Results. | ||||||
DDH | From | To | Interval | Au | Vein | |
(m) | (m) | (m) | (g/t) | |||
78-885 | 272.50 | 273.80 | 1.30 | 6.70 | 785N Vein | |
and | 379.00 | 380.00 | 1.00 | 35.20 | Intervals deeper than 785N Vein not included in MRE 2022. | |
and | 386.00 | 389.00 | 3.00 | 15.44 | ||
Including | 386.00 | 386.60 | 0.60 | 54.7 | ||
and | 398.20 | 399.70 | 1.50 | 12.26 | ||
Including | 399.10 | 399.70 | 0.60 | 18.25 | ||
78-886 | 303.10 | 303.80 | 0.70 | 41.62 | 785N Vein | |
and | 364.00 | 364.50 | 0.50 | 13.05 | Intervals deeper than 785N Vein not included in MRE 2022. | |
and | 403.80 | 404.40 | 0.60 | 29.13 | ||
and | 426.80 | 427.30 | 0.50 | 10.87 | ||
Notes: | ||||||
1. The length represents the length measured along the drill core. | ||||||
2. Assay results are not capped, but higher-grade sub-intervals are highlighted. |
The objective of this drilling campaign is to increase the level of confidence in the mining potential in depth and to the East in an intact sector of the Sleeping Giant mine.
According to the preliminary economic study carried out by InnovExplo in June 2023, the tons and grades of the 106-785N-E340 site are estimated at 58,052t at 13.8 g/t Au. (See Technical Notes*)
Drilling data shows that:
Figure 1: Main Drilling Results – Interception of 785N Zone.
Figure 2: Photo of Cores from 785N Zone (Hole 78-886).
Drilling data also shows that:
Figure 3: Main Results – Interceptions at the bottom of Zone 785N (eastern part)
In parallel with the program to develop the deep mining potential of the Sleeping Giant mine, drilling continues in the upper part of the mine from the 295 level to:
Next Steps:
Quality Control Measures (QA/QC)
The drilling and core description work was carried out under the supervision of Mohamed Haithem Bennia, geo, Superintendent Geology, qualified person according to Regulation 43-101.
The alignment of the drill holes as well as the measurements of the deviations are done with high-precision instruments (Devialigner and Devigyro) using Gyroscopic technology to guarantee the quality of our data.
The orientation of the core as well as the measurements of the orientations of the geological elements are also done by high-precision digital tools (Reflex ACTIII and Reflex IQ-LOGGER) promoting a better understanding of the geological structure.
The quality assurance and control protocols for the analyses include the insertion of blank, standard and duplicate samples every 25 samples, in addition to the internal control of the laboratory samples.
The half-cores were prepared at the Sleeping Giant mine’s internal laboratory according to industry standards.
The samples used in the preparation of this press release were analyzed by the MSALABS laboratory in Val-d’Or, Quebec, using the Photon AssayTM method. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the Photon AssayTM method.
* Technical Notes:
All technical information contained in this press release comes from the technical report of the of then mineral resources Estimation made by InnovExplo in December 2022 (MRE 2022) as well as the technical report of the Preliminary Economic Assessment also made by InnovExplo in June 2023 (PEA 2023).
Notes to the 2022 MRE
Qualified Persons
Mohamed Haithem Bennia, geo, superintendent geology of the Sleeping Giant mine, wrote, collected, verified and approved the technical information contained in this press release.
Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Hamelin and Mr. Bennia are qualified persons under Regulation 43-101.
New Director
Abcourt welcomes Mr. Eric Gratton, as new director of the Corporation. Mr. Gratton is a chartered professional accountant with over 30 years of management experience and has spent the last 15 years working in the mining industry. Prior to his career in mining, he served as a logistics officer in the Canadian Army for 22 years, where he held numerous positions, including a six-month deployment to Afghanistan as Director of Resource Management for the Canadian contingent.
In the mining sector, he worked for Semafo, Glencore and Nordgold before joining Fortuna Mining as Commercial Manager in 2015. He was promoted to General Manager External Relations West Africa in 2017, a position he held until July 2023. He then founded Orionis Mining Consulting, a mining consulting firm based in Abidjan, Côte d’Ivoire. From 2017 to 2023, he headed the boards of directors of Roxgold SANU (Burkina Faso) and Roxgold SANGO (Côte d’Ivoire) on behalf of the Chairman.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its exploration and 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 using forward-looking terminology, such as “plans”, “aims”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “could”, “should”, “likely”, or variations of such words and phrases or statements specifying that certain acts, events or results “may”, “should”, “will” or “be achieved” or other similar expressions. 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 forth in Abcourt’s public filings, which 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 the 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 such forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.