ROUYN-NORANDA, Quebec, July 10, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce its production results at the Sleeping Giant mine for the quarter ended June 30, 2024.
Quarterly Highlights:
- Gold sale of 345.4 ounces;
- Production of 327.6 ounces from 1,428 tonnes of the Sleeping Giant mine at a feed grade of 7.4 g/t, with a mill recovery of 95.9%;
- Production of 140.0 ounces from 3,036 tonnes of the Pershing-Manitou project at a feed grade of 1.6 g/t, with mill recovery of 88.6%.
Quarterly Results :
| Site | Tonnes Milled | Head Grade (g/t) | % Recovery | Ounces Produced |
| Sleeping Giant | 1,428 | 7.4 | 95.9 | 327.6 |
| Pershing-Manitou | 3,036 | 1.6 | 88.6 | 140.0 |
| Total | 4,464 | 3.5 | 93.6 | 467.6 |
During the quarter ended June 30, the Sleeping Giant mill completed the bulk sampling of nearly 5,000 tonnes from the Pershing-Manitou project in April. A separate press release on the bulk sampling from the Pershing-Manitou deposit will be issued once the independent firm submits its final report. Since May 2024, the Sleeping Giant mine has fed the Sleeping Giant mill 100%. The processed material comes from existing stopes. Abcourt plans to feed the mill mainly with development material to access the stopes in the coming weeks and months and then increase the proportion of material coming from production stopes.
Pascal Hamelin, President and CEO of the Corporation comments: “We are very pleased to see the high-grade material from the Sleeping Giant mine arriving at the mill. We have been working very hard for several months to get to this moment. We now have confirmation that the mill can efficiently process Sleeping Giant material with recoveries above 95%. It is also very pleasant to see feed grade higher than expected. We are now focusing on developing new sectors of the mine and increasing the mill's feed towards a monthly production of 2,500 ounces in a first phase as indicated in the preliminary economic study of June 2023.”
Qualified Persons
Mr. Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, wrote, collected, verified and approved the technical information contained in this press release.
Mr. Hamelin is a Qualified Person under Regulation 43-101.
About Abcourt Mines Inc.
Mines Abcourt Inc. is a Canadian gold exploration company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the 100%-owned Sleeping Giant factory 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 | 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 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.
