Abcourt Completes Channel Sampling of its Second Stripping Phase on its Flordin Property
October 15 2024 - 8:00AM
Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX
Venture: ABI) (OTCQB : ABMBF) is
pleased to announce that the channel sampling of its second
stripping phase is complete on the Flordin property. The stripping
phase has exposed and clearly identified the three historical
mineralized zones recognized over 200 metres long by 20 metres wide
and which remain open laterally in both directions. Indeed, our
team was able to recognize and identify the three historical
mineralized zones of the former Cartwright mine, namely the zones:
Little Joe: the northernmost;Horse:
central;Adam: the southernmost.
This recent phase of work has made it possible
to send 283 channel rock samples to the MSALABS laboratory in
Val-D’Or. Each of the new channels, a total of seven, as well as
the extensions of channels 8 and 4 are all 0.5 metre long and are
connected to each other. Each of the channels is on average 6 to 8
cm deep and they intersect perpendicularly the mineralized zones,
which are oriented east-west with a sub-vertical dip.
Each of the mineralized zones is characterized
by the presence of bands of pyrite, silica and hematite in a
sheared basalt. They measure from a few centimetres to several
metres thick and are separated from each other by approximately 5
metres. Note that the host rock between the zones is mineralized in
gold.
The new phase of work will have made it possible
to connect all the strippings together over a lateral distance of
more than 200 metres. It should be recalled that the Company
announced results of up to 22.7 g/t gold over 7 metres, including
163 g/t over 0.5 metres (see press release of August 21, 2024)
during the first phase of stripping. The new work will also have
made it possible to extend the length of each of the channels.
During the first phase of channeling, these were on average 7
metres long, while for this phase, they are on average 18 metres
long. This phase of work exposes over 200 metres of high-grade gold
mineralization that could correspond to the same type as that
reported by Cambior to the south of the Flordin deposit (South
Zone). The mineralization described in the historical work for the
South Zone is similar to that encountered in the Cartwright sector,
which is located 2 km further east.
Figure 1: Overview of the Property with the
Flordin Deposit, the drilling carried out in 2023 and the area of
strippings 1-2 and 3, in the vicinity of the Cartwright
Deposit.
Figure 2: View to the west of the stripping
carried out during Phase 2
Figure 3: Samples from channel no. 12
Pascal Hamelin, President and CEO,
comments: “We are eagerly awaiting the analytical results
of this new phase of work undertaken on our Flordin property. We
were able to complete over 140 metres of channel sampling and ship
the samples to the laboratory in less than two weeks from receipt
of the authorization permits. This confirms our efficiency in
carrying out quality exploration work on our Flordin property and
mining development at our Sleeping Giant mine in parallel.”
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.
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/ed6227d8-a987-449b-b58a-b24eb535fa5ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/3c249057-d81a-4a7a-8036-ff5b89893ff5https://www.globenewswire.com/NewsRoom/AttachmentNg/4714db21-35c8-4f48-a5fe-1c6e83390a45
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