A New Copper Supercycle is Emerging Driven by several rising geopolitical and market trends, the copper market is entering a new super cycle with a strong bullish outlook for prices. (Source: https://sprott.com/insights/sprott-energy-transition-materials-monthly-a-new-copper-supercycle-is-emerging/)
The global push for clean energy, combined with protectionist measures by countries aiming to secure essential materials, is leading to an unprecedented surge in copper demand. However, supply remains significantly constrained due to years of underdevelopment, expanding protectionist policies, and a continued preference among copper producers for growth through mergers and acquisitions rather than new development projects.
7MT of 2.9% Copper in The Abitibi Greenstone Belt
With $17.5M in their treasury allocated toward another 16,500m of drilling planned for its 2024 work program, Abitibi Metals (AMQ.c AMQFF) is strongly positioned amid this super cycle as it develops the B26 Deposit, a new high-grade polymetallic copper deposit with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
So far, AMQ has completed the first phase of drilling at B26 with 13,500m drilled in 44 diamond drill holes and the latest results showing 57.2m at 1.78% CuEq in extensional drilling including 13.1m at 3.1% CuEq. Demonstrating that the deposit is further open to the east, these latest results successfully expanded the zone 75m from historical drilling.
Following the remaining 16,500m in 2024, an additional 20,000m of drilling is expected in 2025 which will be incorporated into a PEA to complete the B26 deposit.
Aiming to build a resource that is saleable to a major, with a target size of 20 to 30 million tonnes, AMQ is on track for a catalyst filled summer in the near term.
For more information, check out the latest CEO interview from the KE Report detailing the latest drill results from the B26 Deposit and extensive exploration program: https://www.kereport.com/2024/06/03/abitibi-metals-recent-drill-results-from-b26-deposit-intersects-high-grade-copper/
Posted on Behalf of Abitibi Metals Corp.