ROUYN-NORANDA, Quebec, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) (OTCQB : ABMBF) is pleased to announce the first assay results from its most recent drilling campaign currently underway on its Flordin property (100% ABI) in the Lebel-sur-Quévillon area.
Highlights:
The Adam mineralized zone connects with the Horse mineralized zone in the first two drill holes of the 2025 campaign.
Drill hole FL-25-274 returns: 3.5 g/t gold over 27.5 metres, including 12.1 g/t gold over 7.5 metres.
The mineralization described in the drilling is similar to that observed in the channels taken on the Cartwright stripping in the fall of 2024.
The mineralized zones (Adam and Horse), intersected by drill holes 273 and 274, are located very close to surface, less than 50 m vertically.
Pascal Hamelin, Président et CEOcomments : “The drilling campaign currently underway on our Flordin property demonstrates the strong potential of the Cartwright sector directly on surface and 35 km north of the municipality of Lebel-sur-Quévillon. The next drill holes to come (approximately 2,000 metres) in this phase will allow us to extend the typical Cartwright mineralization well beyond the trench completed in 2024. This drilling campaign of more than 3,000 metres is part of the company's development strategy by promoting our advanced exploration projects in the perspective of the constant rise in the price of gold.”
To date, more than 1,000 metres of drilling have been completed (8 holes) in the immediate vicinity of the Cartwright stripping carried out in the fall of 2024. The results obtained have been validated for the first two holes of the 2025 campaign, namely holes FL-25-273 and FL-25-274. The results are presented in the table below. The results of the next holes will be disclosed as the assay results become available.
Hole #
From (m)
To(m)
Length (m)
Grade (g/t)
Zones
Metal factor (grade X length)
FL-25-273
29.5
48
18.5
1.2
22
including
29.5
38
8.5
0.6
Adam
including
46
48
2.0
6.6
Horse
FL-23-274
28
55.5
27.5
3.5
96
including
28
31
3.0
0.8
Adam
including
48
55.5
7.5
12.1
Horse
Regional Location of the Flordin Property
Figure 1 : Regional Location of the Flordin Property
Location of the property
Figure 2 : Location of the property
Drilling location for holes 273 and 274
Figure 3 : Drilling location for holes 273 and 274
The first two drill holes intersected the mineralized zones recognized in the October stripping, namely the Adam and Horse zones. Between the zones, there is presence of lower-grade gold directly related to disseminated pyrites. We are able to obtain significant gold grades near the surface over several tens of metres of thickness. Drill hole FL-25-273 intersected 1.2 g/t gold over 18.5 meters and drill hole FL-23-275, 3.5 g/t gold over 27.5 metres.
Note that the mineralized zones, described in drilling, correspond to those observed on the Cartwright stripping done in the fall of 2024. The high-grade gold mineralization is directly associated with the amount of pyrite observed in the core. A characteristic silica-hematite alteration is also observed. The drillings carried out under the trench (7 in total) will allow us to better understand the distribution of high-grade gold mineralization in the vicinity of the old Cartwright shaft. According to historical documents, the Cartwright shaft would be approximately 100 m deep.
Qualified Persons
Robert Gagnon, P.Geo. and Company's Vice-President, Exploration, has reviewed and approved the technical information contained in this press release.
Quality Control Measures (QA/QC)
Following an analytical quality assurance and quality control program, blank samples and certified reference materials were added among the NQ half-core samples and 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 millimetres with a 500 gram division for gamma ray assay for gold. According to MSALABS’ internal procedure, blank samples and standards are inserted. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the Photon Assay method. The drilling, core description and analysis preparation work was carried out under the supervision of Robert Gagnon, geologist, Vice-President of Exploration at Abcourt Mines, qualified person under Regulation 43-101.
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
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.
