Copper recently breached $10,000 amid Fed rate cut speculation and entities like Goldman Sachs warning of supply risks. With this, many forecasters predict further surges, with potential for stockout by year-end. Moreover, the global demand surge has propelled copper to gain 16% so far this year.
More: https://financialpost.com/commodities/mining/copper-hits-10000-goldman-sachs-warns-supply-risk
Industry optimism remains high as copper continues to be seen as a promising investment amidst economic uncertainties. Today, the exploration company, Abitibi Metals (Ticker: AMQ.c or AMQFF for US investors) announced that it is embarking on a high-resolution property-wide Gravity Survey at the B26 Polymetallic/Copper Deposit.
This announcement follows drilling results from B26 which include grades like 2.82% CuEq over 44.5 meters, 3.35% CuEq over 20.75 meters, and 3.24% CuEq over 9.9 meters.
The gravity survey, which is set to start on the 14th, aims to gain a comprehensive understanding of the deposit environment and identify analogous targets within the property.
AMQ CEO, Jonathan Deluce, expressed enthusiasm, highlighting the survey's significance in delineating the B26 Main Deposit's gravity signature, including its satellite extensions, and uncovering potential targets for similar deposits across the property.
With a fully funded 30,000-meter 2024 field season underway, supported by a healthy financial position of $18 million, AMQ is well-positioned for further exploration and development successes.
AMQ's funds will go towards completing the remaining 16,500m planned for the 2024 as well as an 20,000m in 2025 which will be incorporated into a PEA.
Pending assays from 23 holes done during the maiden program at B26, particularly within the Eastern Target, hold promise for additional revelations, further enhancing the deposit's allure.
As AMQ progresses with its ambitious exploration agenda, bolstered by favorable market conditions and robust financial backing, it remains steadfast in its commitment to unlocking the full potential of the B26 Polymetallic Deposit, ultimately contributing to the sustainable supply of copper and other critical metals.
Full news here: https://abitibimetals.com/abitibi-metals-outlines-plans-for-gravity-survey-at-b26-deposit/
Posted on behalf of Abitibi Metals Corp.