Abcourt Intersects 10.4 g/t Gold over 12 Metres in Channel on the New Stripping carried out in the Cartwright Area of the Flordin Project
October 24 2024 - 7:30AM
Mines Abcourt Inc. (“Abcourt” or the "Company”) (TSX
Venture : ABI) (OTCQB : ABMBF) is
pleased to announce its most recent channel sampling results from
the second phase of stripping conducted in September-October 2024.
Phase 2 made it possible to link together stripping No. 2 and 3 of
the first phase of work carried out in the summer of 2024 with the
former Cambior stripping carried out at the end of the 80s. The
most significant intersection is from channel 11, which is
10.4 g/t gold over 12 metres including 29 g/t gold over 4
metres.
The channels, 15 in total (including Phases 1
and 2), are all 0.5 metre long and are connected to each other.
Each of the channels averages 6 to 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:
- 10.4 g/t gold over 12 metres,
including 29 g/t gold over 4 metres;
- Seven new channels, 16 to 20 m
long, were added to a stripping of 200 metres long by 20 metres
wide. The channels are spaced 10 to 15 metres apart between each of
them;
- The three historic zones were
recognized on the imposing stripping, namely the zones: Little Joe
(northernmost), Horse (central) and Adam (southernmost) and, a new
zone (south of Adam) was recognized on two channels;
- Channel No. 6 (22.7 g/t gold over 7
metres, press release dated August 22, 2024) is located 100 metres
east of Channel 11 (10.4 g/t gold over 12 metres) and appears to
confirm the thickening of the Horse Zone in the shear plane;
- 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.
Drilling is planned in the area to validate our hypothesis.
The table below presents the main results
obtained during this campaign during phases 1 and 2:
Channel number |
CUMULATIVE ZONES |
ZONE |
Interval |
Including |
Metal Factor (Grade X Thickness) |
Channel 4 |
5.2 g/t Au over 10 m |
ADAM |
0.9 g/t Au over 1
m |
|
52 |
|
HORSE |
8.4 g/t Au over 6 m |
44.8 g/t Au over 0.5 m |
Channel 5 |
|
|
4.0 g/t Au over 6
m |
18.9 g/t Au over 0.5
m |
24 |
Channel 6 |
|
|
22.7 g/t Au over 7 m |
161.9 g/t Au over 0.5 m |
159 |
Channel 7 |
|
|
8.4 g/t Au over 7.5 m |
33.9 g/t Au over 0.5 m |
63 |
Channel 8 |
5.4 g/t Au over 10 m |
ADAM |
3 g/t Au over 3.5
m |
11.8 g/t Au 0.5
m |
54 |
|
HORSE |
7.2 g/t Au over 5.5 m |
38.1 g/t Au over 0.5 m |
Channel 9 |
2.9 g/t Au over 14.5 m |
ADAM |
0.4 g/t Au over 6
m |
1.5 g/t Au over 0.5
m |
42 |
|
HORSE |
7.8 g/t Au over 5 m |
39.2 g/t Au over 0.5 m |
Channel 10 |
4.3 g/t Au over 8 m |
ADAM |
0.7 g/t Au over 1.5
m |
1.3 g/t Au over
0.5 |
35 |
|
HORSE |
7.4 g/t Au over 4.5 m |
32.6 g/t Au over 0.5 m |
Channel 11 |
10.4 g/t Au over 12 m |
ADAM |
1.5 g/t Au over 2
m |
2.9 g/t Au over 0.5
m |
124 |
|
HORSE |
18.5 g/t Au over 6.5
m |
29 g/t Au over 4
m |
|
LITTLE JOE |
1.33 g/t Au over 0.5 m |
|
Channel 12 |
4.5 g/t Au over 9.5 m |
ADAM |
0.5 g/t Au over 2
m |
|
45 |
|
HORSE |
8.7 g/t Au over 5
m |
32.9 g/t Au over 0.5
m |
|
LITTLE JOE |
0.391 g/t Au over 0.5 m |
|
Channel 13 |
2.9 g/t Au over 11.5 m |
NEW ZONE |
2.7 g/t Au over
0.5m |
|
34 |
|
ADAM |
0.5 g/t Au over 2.5
m |
1.4 g/t Au over 0.5
m |
|
HORSE |
6.7 g/t Au over 5 m |
25.5 g/t Au over 1 m |
Channel 14 |
3.4 g/t Au over 12 m |
NEW ZONE |
2.7 g/t Au over 1.5
m |
3.7 g/t Au over 0.5
m |
41 |
|
ADAM |
1.2 g/t Au over 2.5
m |
4.7 g/t Au over 0.5
m |
|
HORSE |
6.7 g/t Au over 5 m |
27.2 g/t Au over 0.5 m |
Channel 15 |
2.8 g/t Au over 12 m |
ADAM |
0.8 g/t Au over 3.5
m |
2 g/t Au over 0.5
m |
34 |
|
HORSE |
8.5 g/t Au over 3.5 m |
30.6 g/t Au over 0.5 m |
|
|
|
|
|
|
The new stripping phase now exposes the
mineralized zones over a length of 200 metres. The historical
mineralized zones (Little Joe, Horse and Adam) are more or less
spaced 1 to 5 metres apart. The impressive stripping now allows us
to link these same zones together because the host (basalt)
contains grades ranging from 100 ppb to more than 5 g/t gold. This
significantly increases the thickness of the mineralized zones
compared to stripping Phase 1.
The increase in the stripping area during Phase
2 also allowed us to observe the appearance in two channels of a
possible new mineralized zone south of Adam. Channels 13 and 14
contain values of 2.7 g/t gold over 0.5 m and 2.7 g/t gold over 1.5
m, respectively, and are not closed due to the proximity of the
main access road. Future drilling work will allow us to confirm the
presence of this new zone. The mineralized zones are socked and
show variations in thickness, ranging from a few centimetres to
several metres. An increase in the thickness of the Horse Zone was
observed in channel 11 as well as channel 6. These are spaced 100
meters apart from each other. With its new surface workings, the
extent of the mineralized zones has been confirmed, which are more
or less straight (socking) and late minor displacement but are
still continuous over more than 200 metres. Recall that the
drilling carried out in 2023 is located 1 kilometre west of the
Cartwright stripping. The style of high-grade gold mineralization
with hematized pyrite bands found in the stripping is the same as
in the 2023 drilling. We can now confirm that we have intersected
the Horse mineralized zone in hole FL-23-265 (14.79 g/t over 4
metres, press release dated January 30, 2024).
Figure 1 : Regional Location of the Flordin
Property
Figure 2: Overview of the Property with the
Flordin Deposit, Drilling completed in 2023 and the Stripping Area,
in the vicinity of the Cartwright Deposit.
Figure 3: Orthomosaic with Channel Results
Pascal Hamelin, President and Chief
Executive Officer commented: “The addition of the
information from this phase allows us to confirm the historical
zones and validate the continuity and repeatability of the high
gold grades of the Horse Zone. Furthermore, the new channels
confirm the connection between the mineralized zones over
thicknesses exceeding 10 metres, and continuous over 200 metres in
strike length. Finally, they highlight a new fourth zone further
south to be confirmed by drilling.”
Qualified Persons
Robert Gagnon, P.Geo. The Company's Vice
President Exploration has 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.
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 CEO |
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
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expressions Similar. Forward-looking statements are based on
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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
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a result of new information, future events or otherwise.
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