The Cat's Out Of The Bag! The Abcourt Mines Elder cat is loose again! It's chasing a golden mouse down the stairs. But this time, the rodent is rapidly growing, big and fat!
It will now be easily found and consumed. No one can hold it back. Even a pandemic won't stop this very determined feline.
"Recent developments:
- Work currently being done on levels 4, 9 and 10 at the Elder mine to open new stopes.
- $ 728 000 recently raised by private placement for diamond drilling.
- Work started to reopen the Sleeping Giant mine."
https://stockhouse.com/news/press-releases/2020/03/11/abcourt-reports-an-adjusted-net-profit-of-1m-and-a-net-profit-of-87k-for-the
"Abcourt Mines Inc. (TSXV:ABI) (Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Mines Abcourt Inc.) is pleased to announce the discovery of a new high-grade vein in the extension of the west drift on level 9 at the Elder mine.
This vein, named 9-1-5, is currently being developed. It has given so far 13.24 g/t of gold over a true width of 1.1 meter for a distance of 39 meters.
[url=Abcourt Mines Inc. (TSXV:ABI) (Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Mines Abcourt Inc.) is pleased to announce the discovery of a new high-grade vein in the extension of the west drift on level 9 at the Elder mine.This vein, named 9-1-5, is currently being developed. It has given so far 13.24 g/t of gold over a true width of 1.1 meter for a distance of 39 meters. ][/url]
"Abcourt Mines Inc. (TSXV:ABI.V), (Berlin:AML-BE) and (Frankfurt Stock Exchanges:AML-FF) ("Abcourt" or the "Corporation") completed yesterday a first closing of a non-brokered private placement totalling $728,000 in common share units and flow-through share units....
...At the Elder mine, a few holes will be drilled in vein 7 from drifts at the east end of levels 5 and 6 and a drift will be started on level 16 to explore veins 1 and 7 and to explore the Silidor and/or Smoky Creek faults were four orebodies were found in the past and produced a total of 8.5 M tonnes of ore with a little more than 5 grams of gold per tonne. Our contracting mine geologist has strongly recommended these targets. See the press release dated August 22, 2019.
At the Sleeping Giant mine, the upper part of vein 8 will be explored with surface diamond drill holes. See press release dated September 10, 2019."
https://stockhouse.com/news/press-releases/2019/10/08/abcourt-completes-the-first-closing-of-a-private-placement-of-common-share
It remains to be determined when and where the $728,000 recently raised private placement capital has been or will be spent. But with the company's focus remaining at Elder, some of this exploration money, more than likely, will be first spent here. The chase is becoming a deeper pursuit. Some of this mine's better grades, may now be found, down a stairway, leading to riches.
Other good grades may be found elsewhere, at a later date. But the focus now appears to be on levels 4, 9, 10 and perhaps, even lower, as the Abcourt's contract geolgist has previously suggested looking.
With the gold price remaining stable at $1700 US and the silver price poised for an expected rebound back to higher levels, the worst case scenario for Abcourt Mines remains positive in terms of revenue growth. The gold dore bars poured at mill site consist of combined gold and silver.
However, just like a hungry cat, seeking to satisfy its basic primal urge, management seems to be looking in the best direction for those higher grades. This is not a wild goose chase. The cat is chasing a mouse! It needs to be fed. Later on, other mice, need to be caught!
The Elder mine does seem to have a lot of potential for more deposits on many different levels.
In due course, the financial numbers will decide if this mouse's tale is tall.
But for now, it makes more sense to remain positive, rather than hungry.
All the best! Java