Abcourt is Preparing New Stripping and Additional Drilling Work on Its Flordin Property
September 26 2024 - 8:00AM
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 PersonsRobert 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.
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/ca51539c-1559-4fbb-bfd2-3fa7ac79e6be
https://www.globenewswire.com/NewsRoom/AttachmentNg/6b107002-a88e-456f-8867-e6f7a8f72d17
https://www.globenewswire.com/NewsRoom/AttachmentNg/a049a23a-0ac4-482c-9b86-c9cc37fea2ae
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