Here is some news 885,531 ounces gold 43-101Abcourt's Elder mine at 885,531 ounces Au M+I
Ticker Symbol: C:ABI
Abcourt's Elder mine at 885,531 ounces Au M+I
Abcourt Mines Inc(C:ABI)
Shares Issued 59,434,568
Last Close7/27/2009 $0.12
Tuesday July 28 2009 - News Release
Mr. Joe O'Brien reports
43-101 UPDATE RESSOURCES REPORT ON ELDER GOLD MINE SHOWS ABOUT 15% INCREASE IN MEASURED AND INDICATED RESOURCES
Abcourt Mines Inc. has filed a 43-101 update report on the Elder minethat shows about 15 per cent increase in measured and indicatedresources at the 0.15 ounce per ton Au cut-off grade. This revision wasmade by Jean-Pierre Berube, PEng, consultant. Mr. Berube is anindependent qualified person.
This revision was based on 263 diamond drill holes intersections and 128 drifts and stopes sampling sites.
The block method was used to calculate the resources. Allpertinent information, i.e. drill holes, drifts and stopes, was plottedon composite plans. Number 1 vein was shown on a plan 1''=100', whereasveins number 3 ans 4 were shown on a plan 1''=50''.
First, the blocks of measured and indicated resources were delimitedusing the CIM definition standards. These blocks are indicated in areascharacterized by a greater density of geological data (ex: undergroundworkings, or areas with regular drill holes spacing of 100 feet). Whereapplicable, each block is drill defined by an intersection which is notnecessarily centered on the block.
Measured mineral resources are located between two levels andnormally drilled at 100-foot interval and/or mineralizationextrapolated up to 50 feet from stopes, drifts, raises or other sampledfaces. Indicated resources are within a 50-foot range from 100-footcentered diamond drill holes and/or mineralization located between 50and 100 feet from stopes, drifts, raises or other sampled faces. Someexceptions were made for the measured resources when it was clear thatadjacent sections were showing a good continuity over a tighter patternof drilling. In those cases, the maximum down dip extension of themineralized intersections was extended up to 100 feet.
In a second step, inferred mineral resources were obtained fromblocks located in areas characterized by fewer mineralizedintersections (drill holes spaced at 200 feet and more) and/ormineralization located at a range of between 100 and 150 feet fromstopes, drifts, raises or other sampled faces. The area covered by eachinferred polygon was calculated by hand and cross-checked with AutoCad.
The weighted gold averages were calculated from combinedintersections. A nominal cut-off grade of 0.10 ounce per short ton(oz/st) was used. Gold values above 1 ounce per short ton were cut to1.0 ounce per short ton. At the request of ABCOURT, these results havealso been presented using a cut-off grade of 0.15 oz/st Au.
The drill data were plotted on cross-sections and mineralizedzones were then allocated to the appropriate vein structure. Tonnagesfor each block have been calculated by multiplying the vertical height(minimum of 5 feet) of the vein by the surface area of the block andapplying a tonnage factor of 12.3 cubic feet per short ton.
The table gives details on the different tonnages and grades ofthe Elder deposit in relation with the cut-off grades used in thepresent mineral resources estimate.
2009 ESTIMATE
Cut-off grade 0.10 oz/t Au 0.15 oz/t Au
Category Tons Grade (oz/t) Ounces of gold Tons Grade (oz/t) Ounces of Gold
Measured 442,515 0.189 83,635 282,017 0.226 63,736
Indicated 443,016 0.193 85,502 316,026 0.226 71,422
------ ----- ------ ------ ----- ------
Measured + indicated 885,531 0.191 169,137 598,043 0.226 135,158
Inferred 261,018 0.179 46,722 175,675 0.211 37,067
For the sake of comparison, here are the 2006 estimates at different cut-off grades:
2006 ESTIMATE
Cut-off grade 0.10 oz/t Au 0.15 oz/t Au
Description Tons Au (oz/t) Ounces Tons Au (oz/t) Ounces
Measured 440,810 0.183 80,668 263,951 0.226 59,653
Indicated 363,810 0.197 71,670 249,040 0.237 59,022
Measured + Indicated 804,620 0.189 152,338 512,991 0.231 118,675
Inferred 252,208 0.184 46,406 187,455 0.207 38,803
So, at the 0.15 oz/t Au cut-off grade, the measured andindicated short tons increased by 16.5% and the gold content increasedby 13.9%.
The report will be filed shortly on Sedar and will be availablefor those who would like to see the plan projections of different oreblocks of mineralization.
In his conclusion, Mr.Berube states that the probabilities toadd new resources to the existing mineral inventory are excellentconsidering the quality of a number of near surface targets whichremain to be drilled. He recommends a two-phase surface and undergroundexploration program estimated to cost $14 M. Abcourt intends to followthis recommendation.