ROUYN-NORANDA, Quebec, Dec. 23, 2024 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to inform that a drill is now set-up on level 785 to drilling at depth aiming at waking-up the Sleeping Giant between 975 & 1,060 m.
As part of its mineral resource development program, in addition to its upper-level drilling program, the Corporation has prepared access and rehabilitated the eastern portion of the 785m level for deep drilling as part of the first phase of a 3,000 to 3,500 metres program to begin awakening the Sleeping Giant.
The 3,000 to 3,500 m drill program was designed by the technical team lead by its geology superintendent Mohamed Haithem Bennia. The management team is proud of this achievement in such a short period. The Drilling contractor G4 is to drill shortly. It is expected that a significant amount of drilling will be completed in early 2025.
The phase 1 targets a panel that is located between levels 975 & 1,060 m. The holes will all be drilled from the 785 level. The scheduled 12 holes can be seen on the Figure 1 of this release. The potential target of this program aims at exploring & validating a mineralized panel of 58,000 t at 13.8 g/t derived from inferred resources of the existing MRE. If it proved successful, additional drilling in subsequent phases will be carried.
Figure 1: Drill Program, Location and Target.
As demonstrated in Figure 2 of the Sleeping Giant Mine Production History: “The more you drill, the more ounces of gold you add.” Figure 3 shows the drill ready to start the 785m level program.
Figure 2: History of Gold Production.
Figure 3: Drill on the 785 m Level Ready to Start the Program.
Mohamed Haithem Bennia, Superintendent Geology at the Sleeping Giant mine, comments: “We are very excited to extend our drilling at depth and target the high-grade zone. If the drilling program proceeds as planned, with 3,500 m of drilling, we could improve the quality of 25,000 ounces of resources at the end of Phase 1. This would justify the work of developing accesses for a better definition of the 785N zone. We will continue, in collaboration with GoldMinds Geoservices Inc., to advance the work necessary to support the engineering in the preparation of a pre-feasibility study. The increase in the drilling rate with the addition of the second drill rig will allow us to accelerate the validation of the mineralized wireframes and update the mineral potential.”
Pascal Hamelin, P.Eng., President and CEO of the Corporation, comments: “When I see the drill in place (figure 3), it brings a smile on my face as we are heading for a bright future in 2025. I want to thank everyone for their great works and making this achievement possible in such a short time. Finally, I would like to wish to all our employees, shareholders, and stakeholders a Happy Holidays, and many good things for all of us in 2025.”
Qualified Persons
Mohamed Haithem Bennia, P.Geo., Superintendent Geology at the Sleeping Giant Mine, wrote, collected, verified and approved the technical information contained in this press release.
Pascal Hamelin, P.Eng., President and CEO of the Corporation, verified and approved the technical information contained in this press release.
Mr. Hamelin, 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 950 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.
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b63dc075-c093-4fff-b4d1-2bdfbda698a8
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d07adb1-07b9-4e4f-9a27-c318f940d4a6
https://www.globenewswire.com/NewsRoom/AttachmentNg/26534913-c313-49b2-99aa-507cdb72f9e8
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