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

ROUYN-NORANDA, Quebec, Oct. 24, 2024 (GLOBE NEWSWIRE) -- 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:

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

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.

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