A further Consideration, the Discovery, Flordin Projects Should the Elder/Tagami mines someday need to be placed on care and maintenance (some years into the future), the Discovery/Flordin properties may become a suitable replacement. They are geographically located at a similar distance from the SG mill. They may serve as gold properties of equal or greater value.
Management would forsee such an event. A transitional period would allow for the development of these two, new gold mines. It would be best if some cash continued to flow from the older mines to help fund the process. This would seem like a logical next step in Abcourt's next phase of growth.
According to the recent french MD&A, the company is still analyzing the current data and will be seeking more information with future drilling plans to determine the feasibility of these projects.
With respect to Discovery:
"...The Discovery project consists of 166 cells with a total area of 4,166 hectares. The property is
located approximately 30 km northwest of Lebel-sur-Quvillon, Quebec. Gold in Discovery is found in quartz-carbonate veins within a deformed and metamorphosed gabbro. The last resource calculation 43-101 by category was done by InnovExplo in 2008. A significant zone of gold mineralization is indicated. As the 2008 resources are not considered current by Abcourt, the regulations of the Canadian Securities Authorities forbid us to publish these results.
In 2010, North American Palladium (NAP) drilled 40 additional holes totaling 25,481 meters (GM 67103) covering sections 900 to 1600 E. Zones A, B and C have been intersected in what appears to be a network of quartz veins containing 3 to 8% pyrite and pyrrhotite in equal proportions. Some good values were intercepted in zones A (B-10-197: 5.81 g / t gold / 3.2m, B-10-198: 4.36 g / t gold / 11.6m, B- 10- 199A: 4.35 g / t gold / 3.0m) and C (B-10-178: 10.7 g / t gold / 4.56 m, 4.00 g / Au / 8.3m ). The true width is about 70% of the length of the carrot.
In 2011, NAP drilled 18 more holes totaling 7,307.7 meters (GM 67614) covering sections 300 to
1500 E. Zones A and B were intersected over lengths of about one meter (B-11-195: 26.4 g / t gold / 1.1m, B-11-200: 46.0 g / t gold / 1.0m, B-11-207: 54.4 g / t gold / 1.0m) and more rarely over more than 10 foot (B-11-192: 5.21 g / t gold / 7.1m, B-11-200: 48.1 g / t gold / 4.5m).
After the 2008 InnovExplo calculation, NAP therefore drilled 58 additional holes totaling 32,788.7 meters. A updating of resources is fully justified considering the many intersections revealed by
2010 and 2011 drilling campaigns. In addition, the 2011 drilling revealed the presence of high
gold associated with Zone 1200 E. This sector is open at depth and laterally. The drill mesh should
be tightened in order to raise the level of confidence in certain sectors of the Discovery zone which is more 2 km in length. The gold mineralization of the Discovery property seems important to us and the possibility of finding a deposit is good..."
With respect to Flordin:
"...The Flordin property is located approximately 25 kilometers north of Lebel-sur-Quvillon. It consists of 25 cells that cover 149 hectares. In 1987-1988, access to Zone B mineralization via a ramp allowed two bulk samples. Bulk machining was done at the Bachelor mine with the following results:
5,174 tonnes at 2.51 g / t Au in 1987 (Sullivan / Bachelor),
4,053 tonnes at 4.25 g / t Au in 1988 (Cambior / Bachelor).
In 2011, the project was reassessed by Cadiscor with a view to surface mining. The calculation of
firm InnovExplo cannot be published because Abcourt does not consider this study to be current and, in this case, the Canadian Securities Administrators forbid the publication of such results.
Since the other 157 diamond drill holes were subsequently completed, the next work at Flordin should include a mineral resource update. In its February 2013 report (GM 67662), NAP reports
have intersected several values greater than 5 g / t at the center of the mineralized zones of the Flordin deposit and the Cartwright area. These new intersections could therefore add tonnes to those already calculated by InnovExplo.
Drilling in fall 2018:
In December 2018, five holes were drilled for a total of 921 meters.
The best results were obtained in hole Fl 18-254 with two intersections in a new area,
either 38.25 to 40.35 m, or 2.10 m, with a grade of 6.49 g / t gold and 47.70 to 51.20 m, or 3.50 m, with a grade of 22.63 g / t gold..."
Make of these past findings what you will! But these drill results look pretty good to me!
To requote the company commentary on the Discovery project: "...The gold mineralization of the Discovery property seems important to us and the possibility of finding a deposit is good..."
Is that not another understatement of the year!
The Discovery project is another company sleeper!
When will this company, fully wake up?
All the best! Java