ROUYN-NORANDA, Quebec, Jan. 09, 2025 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) (OTCQB : ABMBF) is pleased to announce that it is starting a drilling campaign on the Flordin Property. This first phase of drilling, of a minimum of 3,000 metres, will be spread over two different sectors of the property, namely the Cartwright sector and the Flordin sector.
Summary of Drilling Work (Phase 1):
More than 1,000 metres of drilling (short holes) will be done directly below the 2024 stripping of the Cartwright Zone. The new holes drilled under the trench will validate at depth the results of the No. 6, No. 8 and No. 11 channels announced in the fall of 2024 (press release October 24, 2024). It should be noted that a drilling campaign is currently underway at the boundaries of our property by our immediate neighbour O3 Mining (See Figure 2-3).
Channel 6: 22.7 g/t gold over 7 metres including 162 g/t gold over 0.5 metre; Metal Factor (X Thickness Content): 159
Channel 8: 5.4 g/t gold over 10 metres including 38 g/t gold over 0.5 metre; Metal Factor (Content X Thickness): 54
Channel 11: 10.4 g/t gold over 12 metres including 50 g/t gold over 0.5 metre; Metal Factor (Content X Thickness): 124
Subsequently, more than 2,000 metres of drilling (deep holes) are planned under and in extensions of the South Zone of the Flordin deposit. This area was discovered in 1988 by Cambior and was not subject to subsequent follow-up work. Several significant gold intersections are reported, including hole S158 which returned 3 g/t gold over 16 metres. The style of mineralization described in the drill logs by Perrier (GM 46856) appears to be consistent with the mineralization observed on the Cartwright stripping. Indeed, high-grade gold mineralization is associated with pyrite bands in altered zones rich in hematite-silica-carbonate. Deep drilling in this area will confirm our initial working hypothesis that this type of high-grade gold mineralization is continuous from the Flordin deposit to the Cartwrigth area, a possible extension of approximately 2 kilometres.
Figure 1: Regional Location of the Flordin Property
Figure 2: Location of the property
Figure 3: Drilling 2025 location
Pascal Hamelin, President and Chief Executive Officer comments: “This first phase of drilling work of a minimum of 3,000 metres, which has already been funded, is only the beginning of our ambitious development plan for our Flordin project. If we confirm the similarities of the mineralization observed in the Cartwright and Flordin areas, we will have a high-grade gold corridor of more than 2 kilometres to test and define to link the mineralized zones together and thus increase the number of ounces of gold on our Flordin property.”
Qualified Persons
Robert Gagnon, P.Geo. and 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.
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.
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