ROUYN-NORANDA, Quebec, June 03, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce results from the underground diamond drilling campaign at the Sleeping Giant mine.
From December 2023 until April 30, 2024, Abcourt has carried out, from levels 235 and 295, 17 drilling holes totaling 2,005 meters in the DAC 5 area. The first diamond drill holes realized are used to optimize the mining plan of the DAC 5 sector accessible in 2024 for the extraction start.
Abcourt presents the results of 5 drill holes totaling 493m drilled underground from level 295.
The highlights of the analysis results, included in this press release, are as follows:
91.8 g/t Au over 0.5 meter in hole 29-269.
30.8 g/t Au over 0.5 meter in hole 29-273.
The main results of holes drilled from level 295 are displayed in Table 1.
| Table 1: Main Underground Drilling Results from DAC 5 Stope. | ||||||
| DDH | From | To | Thickness | Au | Vein | |
| (m) | (m) | (m) | (g/t) | |||
| 29-267 | 49.3 | 49.8 | 0.5 | 11.73 | vein 1 | |
| 29-268 | 47.7 | 48.25 | 0.55 | 27.64 | vein 1 | |
| 29-269 | 52.7 | 53.35 | 0.65 | 9.77 | vein 1 | |
| and | 66.0 | 66.5 | 0.5 | 91.76 | vein 4 | |
| and | 87.5 | 88 | 0.5 | 6.57 | vein 3 | |
| 29-270 | 44.0 | 45.5 | 1.5 | 5.98 | vein 1 | |
| Including | 45.0 | 45.5 | 0.5 | 11.65 | ||
| 29-273 | 64.0 | 64.5 | 0.5 | 30.8 | vein 1 | |
| Notes: | ||||||
| 1. The length represents the length measured along the drill core. | ||||||
| 2. Assay results are not capped, but higher-grade sub-intervals are highlighted. | ||||||
The main results of the holes drilled from the 295 level are shown in a longitudinal section and plan view (Figure 1).
Figure 1: Level 295, Sector DAC 5, Plan View and Section Looking North.
Drilling data from holes 29-270 and 29-273 show that the main vein (vein 1) continues westward and that we can advance the development of the sill and sublevel 1.
The drilling data also show the presence of another mineralized vein (vein 4) oriented N-S to NNW-SSE and with a slight dip visible in the sub-levels and intercepted by drilling 29-269.
In light of these results, we added drill holes to evaluate the western and upward extension of vein 1 as well as the northward extension of vein 4.
Mohamed Haithem Bennia, Chief Geologist at the Sleeping Giant mine, comments: “We are very excited about the initial results obtained in the DAC 5 sector, which confirms the extensions of our veins and indicate the presence of other veins that need to be tested. This data justifies additional drilling work in order to provide engineers with an accurate and complete model for optimizing the mining plan.”
Quality Control Measures (QA/QC)
The drilling, core description and analysis preparation work was carried out under the supervision of Mohamed Haithem Bennia, geo, chief geologist, qualified person according to Regulation 43-101.
Following an analytical quality assurance and control program, blank samples and certified reference materials as well as duplicates were added among the AQTK caliber core samples before being crushed at the Sleeping Giant mine’s in-house assay laboratory and analyzed by Techni-Lab S.G.B. Abitibi inc. division of ActLabs which is an accredited external laboratory, registered to ISO 9001 and ISO/IEC 17025 certified CCN (lab707), MELCC (lab375) located in Sainte-Germaine-Boulé, Quebec
The analyses were carried out by pyroanalysis (A.A.) with finishing by atomic absorption. Samples with a grade greater than 10g/t Au were reanalyzed with a gravimetric finish.
Qualified Persons
Mr. Mohamed Haithem Bennia, geo, Chief Geologist of the Sleeping Giant mine, wrote, collected, verified and approved the technical information contained in this press release.
Mr. Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Hamelin and Mr. Bennia are qualified persons under Regulation 43-101.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian gold exploration Corporation with properties strategically located in northwestern Quebec, Canada. Abcourt 100% owns the Sleeping Giant mill and mine where it concentrates its activities. The Sleeping Giant mine has a mining lease, as well as environmental certificates of authorization to extract up to 750 tonnes per day from its underground mine.
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 President and Chief Executive Officer T : (819) 768-2857 Email : phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc., T : (514) 722-2276, Ext. : 456 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 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 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 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.
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e170f5b1-4d32-43da-a1fa-13e939615ee8
