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Abitibi Metals Corp C.AMQ

Alternate Symbol(s):  AMQFF

Abitibi Metals Corp. is a Canada-based mineral acquisition and exploration company. The Company is focused on the development of base and precious metal properties that are drill-ready with high-upside and expansion potential. Its portfolio of properties includes the B26 Polymetallic Copper Deposit and the Beschefer Gold Project. B26 Deposit is a high-grade copper, zinc, gold, and silver-rich polymetallic volcanogenic massive sulfide (VMS) deposit. B26 Polymetallic Copper Deposit is located approximately 90 kilometers (km) west of Mattagami and 100 km north of La Sarre, near the former Selbaie Mine and covers approximately 3,327 hectares. The Beschefer Gold Project covers approximately 962 acres and is located in the Northern Abitibi Greenstone Belt, 14 km east of the past producing polymetallic Selbaie Mine, 45 km northeast of the Casa Berardi Mine and 30 km from Wallbridge’s Fenelon Gold property.


CSE:AMQ - Post by User

Post by 1StockInformeron Jan 23, 2024 7:24pm
88 Views
Post# 35841985

TODAY: AMQ Starts Maiden Drill Program at B26 Deposit

TODAY: AMQ Starts Maiden Drill Program at B26 Deposit

Today, Abitibi Metals Corp. (Ticker: AMQ.c or AMQFF for US investors) has officially announced the commencement of drilling activities at the B26 Polymetallic Copper Deposit.


The initiation of the drill program marks a significant milestone for Abitibi, following the successful closure of recent financings totaling $14.37 million. The Company's CEO, Jonathon Deluce, expressed enthusiasm about the milestone, emphasizing the strong shareholder support evident in the upsizing of recent financings.


With a substantial treasury of $15 million, Abitibi is poised to aggressively deploy a fully-funded 30,000-meter drilling campaign throughout 2024, as the company enters a transformative phase. 


The first quarter of the year will witness a minimum of 10,000 meters of drilling, aimed at rapidly expanding the high-grade resource at the B26 Deposit. Deluce highlighted the company's commitment to growth and indicated readiness to mobilize a second drill upon positive feedback from the field.

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The 10,000-meter drill campaign is part of the larger 30,000-meter 2024 field season, with a primary focus on delineating the open-pit potential of the B26 Deposit. Concurrently, Abitibi aims to advance and expand the existing resource, concentrating on high-metal factor trends within the first 300-meter vertical.


Throughout the program, Abitibi will continue refining its 3D model, incorporating insights gained from the 2018 resource and real-time data from the ongoing drill program. Additionally, the company is strategically reviewing historical geophysical surveys on the property to optimize approaches for extrapolating extensions of the B26 volcanic contact.


Full news here: https://www.thenewswire.com/press-releases/1kVGFEX3z-abitibi-metals-announces-commencement-of-drilling-at-the-b26-deposit-ind-7-0mt-2-94-cu-eq-inf-4-4mt-2-97-cu-eq.html

Posted on Behalf of Abitibi Metals Corp.
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