ROUYN-NORANDA, Quebec, April 16, 2024 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or “the Company”) (TSX Venture : ABI) is pleased to announce that it has obtained by map designation on April 14, 2024, nine (9) claims contiguous to its Abcourt-Barvue Property, located in the Barraute area, in Abitibi-Témiscamingue. The Abcourt-Barvue Property consists of two mining leases and 103 designated cells for a total of 5,123.4 hectares. Abcourt owns 100% of the Property, which is free of any royalty.
The addition of these 9 claims to the Property is strategic as they partially cover the continuity of the Figuery Group, which hosts the zinc-silver mineralization recognized on the Property. Following the increase in the price of silver, the Company decided to add these claims to its already large original block. Indeed, at publication in 2019 of the last economic opportunity study done by Paul Bonneville, P.Eng. the terms of reference for the price of silver was set at 16$USD/oz. As of today, the silver is trading at over USD 28$/oz. It is important to note that the Abcourt-Barvue Property is one of the few advanced zinc and silver projects in Abitibi-Témiscamingue. The latest NI 43-101 compliant mineral resources estimate, completed in 2014 by J-P Bérubé, P. Eng. (available on SEDAR+), indicates the presence of a measured and indicated category resource in the order of 8 million tonnes of ore at 3% zinc and 55 g/t Ag.
Pascal Hamelin, President and CEO, comments: « Since the Government of Canada’s addition of zinc to the list of critical minerals in 2021, we believe we are in a good position to capitalize on a forward-looking project in terms of energy transition. Indeed, with the rising prices of zinc, and especially silver, our Abcourt-Barvue project is one of the most advanced in Quebec and could become the next zinc mine.»
Qualified Persons
M. Robert Gagnon, Geo. Vice President Exploration of the Company, has reviewed and approved the technical information contained in this press release.
Figure 1: Location of New Claims, NTS File 32C/12
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, where it concentrates 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 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9375b0-c360-44f7-9198-7d08d8381d6d
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