Abcourt Mines Inc. (« Abcourt » or the « Company ») (TSX
Venture: ABI) (OTCQB: ABMBF) is pleased
to announce its most recent channel sampling results from three
mechanical strippings conducted in the vicinity of the Cartwright
deposit on the Flordin property. The most significant intersection
obtained comes from stripping No. 2, channel No. 6, which is
22.7 g/t gold over 7 metres including 161.9 g/t gold over
0.5 metre. The grooves made, eight in total, are all 0.5
metres long and are connected to each other. Each of the channels
averages 6-8 cm deep and intersects perpendicularly with the
mineralized zones, which are oriented east-west with a sub-vertical
dip. The mineralization is associated with significant shear and is
composed of pyrite-rich bands in zones with Gossan-type surface
alteration (weathering) (pyrite dissolution, yellow surface).
Highlights
- 22.7 g/t gold over 7 metres
including 161.9 g/t gold over 0.5 metre;
- A new petrographic study confirms
the presence of gold grains in pyrite;
- Gold is usually spatially
associated with pyrites and is sometimes (but rarely) free and
located in quartz veins and veinlets. This last observation
confirms that the presence of quartz veins is not the primary
vector for gold mineralization in the Cartwright area;
- The recent work undertaken by
Abcourt allows us to postulate that the South Zone, discovered by
Cambior in 1988, could continue beyond the Flordin deposit and
could be continuous to the Cartwright deposit, for more than 2
km.
The table below presents the main results
obtained during this campaign.
Stripping number |
Channel number |
Intercept |
Including |
Metal Factor (grade X thickness) |
1 |
3 |
3.3 g/t Au over 2,5 m |
5.4 g/t Au over 0,5 m |
8 |
2 |
4 |
8.4 g/t Au over 6 m |
44.9 g/t Au over 0,5 m |
51 |
2 |
5 |
4.0 g/t Au over 6 m |
18.9 g/t Au over 0,5 m |
24 |
2 |
6 |
22.7 g/t Au over 7 m |
161.9 g/t Au over 0.5 m |
159 |
2 |
7 |
8.4 g/t Au over 7.5 m |
33.9 g/t Au over 0.5 m |
63 |
3 |
8 |
2.1 g/t Au over 7 m |
11.8 g/t Au over 0.5 m |
15 |
The main stripping is the No. 2, which exposes
the mineralized zone over more than 50 metres in length. The
mineralized zone has variations in thickness ranging from a few
centimeters to several meters. The mineralization is characterized
by pyrite-rich bands alternating with silicate-rich bands that may
be red in color (hematization). Three new thin sections were
collected and described by GEOX Consulting Inc., under the
supervision of Lucie Mathieu (Ph.D., P.Geo.). Ms. Mathieu is a
geologist specializing in metallogeny, structural geology and
petrology. Her expertise has made it possible to characterize the
mineralization typical of the Cartwright area. This new
petrographic study shows that a significant amount of
micrometre-sized gold grains, observable under a petrographic
microscope, are observed in pyrite. This explains the high gold
grades of 15, 7, 23, and 69.4 ppm Au for these samples.
According to petrographic observations, the gold
mineralization would be associated with a late and brittle
deformation phase accompanied by biotitization and carbonation. The
gold is aligned in pyrite, indicating an association with fractures
now sealed, and confirming the association of the mineralizing
episode with brittle to ductile-brittle deformation. Gold is
usually spatially associated with pyrites. It is sometimes free and
located in quartz veins and veinlets. This last observation
confirms that silicification episodes and the presence of quartz
veins are not the main vectors for gold mineralization in the
Cartwright area.
Figure 1: Regional location of the Flordin
Property
Figure 2: Overview of the property with the
Flordin deposit; Drilling completed in 2023; and the Area of
stripping 1-2 and 3, in the vicinity of the Cartwright deposit.
Figure 3: Orthomosaic of the three strippings
carried out in 2024. The western stripping was done in the 1980s by
Cambior.
Figure 4: View (looking west) of Stripping No.
2
Figure 5: Sub-automorphic pyrite with a core
rich in silicate inclusions. Note the presence of numerous gold
grains in the pyrite, some of which are associated with fractures
that are now sealed. The red arrows indicate the position of the
gold grains.
The most recent work undertaken by Abcourt on
the Flordin Property has highlighted a style of high-grade gold
mineralization, associated with pyrite, appearing to be continuous
for more than 2 km. Indeed, all the drilling carried out in 2023
intersected mineralized zones, characteristic of the Cartwright
area, which is mineralization composed of pyrite-rich bands and
parallel to each other. The drill holes in question are located
more than a kilometre west of the old Cartwright shaft.
The compilation work attempts to demonstrate
that the South Zone, discovered by Cambior in 1988, is possibly the
continuation at depth of the Cartwright Zone. In this zone, gold
mineralization is associated with pyrite bands. We can therefore
hypothesize that the high-grade gold mineralization associated with
pyrite bands would be continuous over more than 2 km between the
Cartwright deposit and the South Cambior Zone.
Abcourt is now applying to the Ministère des
Ressources naturelles et des Forêts for an amendment to the
authorization to proceed with the complete stripping of the
mineralized zone located between the former Cambior stripping and
Stripping No. 2. This stripping will expose the high-grade gold
mineralized zone over more than 200 metres and will also allow
channel sampling of the newly exposed mineralized zone.
Figure 6: Projection (in red line) of the zone
that will allow all the stripping to be linked together.
Pascal Hamelin, President and Chief
Executive Officer comments: "From the start of
surface work on our Flordin Property, we are already able to
demonstrate the potential for high-grade gold mineralization over
more than 2 km. Our work targeted a type of mineralization that was
previously underestimated and undervalued. We believe that with our
approach we will be able to substantially increase the number of
ounces of gold available on our Flordin Property."
Qualified Persons
Robert Gagnon, P.Geo. Abcourt's Vice President,
Exploration and Lucie Mathieu, Ph.D., P.Geo., Independent
Consultant, have reviewed and approved the technical information
contained in this press release.
Analytical Procedure
The 0.5-metre-long channel rock samples were
shipped and analyzed by the MSALABS laboratory in Val-d'Or, Quebec
using the Photon Assay™ method. The samples were crushed to 70%
passing two millimeters with a 500-gram division for gamma ray
assay for gold. According to MSALABS' internal procedure, blank and
standard samples are inserted. MSA operates numerous laboratories
around the world and maintains ISO-17025 accreditation for many
metal determination methods. MSA is an ISO-17025 accredited
laboratory for the photonic analysis method.
QA-QC
Three samples, collected by Lucie Mathieu in the
vicinity of samples previously collected by Robert Gagnon and
analyzed by MSALABS, were subjected to fire assay with gravimetric
finish on 50 g of material by ALS (Vancouver). Although different
samples, but collected from the same outcrops, were analyzed by
MSALABS and ALS, the results are comparable.
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.com
Pascal
Hamelin |
Dany
Cenac Robert, Investor Relations |
President and Chief Executive Officer |
Reseau ProMarket Inc., |
T : (819) 768-2857 |
T : (514) 722-2276, poste 456 |
Courriel : phamelin@abcourt.com |
Courriel : 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", "occur" 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 out in Abcourt's
public filings, which are available on SEDAR+ at www.sedarplus.com.
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.
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.
Photos accompanying this announcement are available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c56feba4-63b9-4e02-bf2f-a78d74dd26af
https://www.globenewswire.com/NewsRoom/AttachmentNg/b9f0e15a-c03f-4e5e-8796-9f9cc181f256
https://www.globenewswire.com/NewsRoom/AttachmentNg/f13b5551-5cc9-47d4-94d8-1f5aaf07531e
https://www.globenewswire.com/NewsRoom/AttachmentNg/38f94ab8-0331-4dae-b55a-177f617210b3
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3efa137-6782-488a-ba32-ade46526b833
https://www.globenewswire.com/NewsRoom/AttachmentNg/098727ea-baa5-4b12-b6c2-4e88cb9ee9ba
Abcourt Mines (TSXV:ABI)
Historical Stock Chart
From Nov 2024 to Dec 2024
Abcourt Mines (TSXV:ABI)
Historical Stock Chart
From Dec 2023 to Dec 2024