Abcourt Mines Inc V.ABI

One Step, At A Time, An Old Mine, May Become New!

[javaman12]

• About us
• Investors
• Projects
• News
• Contact Us

FR

 

APPROVAL BY THE QUEBEC GOVERNMENT OF THE RESTORATION PLAN FOR THE EXTRACTION OF A 5,000-TONS BULK SAMPLE AT THE PERSHING-MANITOU SITE

5 April 2022

Press release

No: 2022-04

APPROVAL BY THE QUEBEC GOVERNMENT OF THE RESTORATION PLAN FOR THE EXTRACTION OF A 5,000-TONS BULK SAMPLE AT THE PERSHING-MANITOU SITE

Val-d’Or (Qubec), April 5th, 2022: Pershimex Resources Corporation (“Pershimex” or “the Company”) (TSX Venture: PRO) announces that it has received from the Ministre de l’Energie et des Ressources Naturelles du Qubec, the approval of the Restoration Plan for the Pershing-Manitou mine site submitted in June 2021. The plan submitted by Pershimex is simple and rigorous.  Among other things, it will allow the safe extraction and according to current environmental standards, of a sample of 5,000 tons of measured gold mineralized material. The Mineral Resource Estimate (MRE) submitted last January confirms the presence of measured grade gold resources of 9,200 tons grading 7.2 g/t gold for a total of more than 2,000 ounces.  As the mineralized zone is located on the surface and already exposed, the result will be a trench that will then be secured and fenced (see figure 1 below).

Figure 1 – 5,000 tons bulk sample outline

Following the letter of agreement with Abcourt Mines Inc., the mineralized material will be processed at the Sleeping Giant mill, a gold plant perfectly adapted to the type of material presented at the Pershing-Manitou mine site.

Pershimex has obtained confirmation that the agreement reached with Abcourt Mines Inc. management remains valid despite the recent announcement of a change in the management of Abcourt Mines Inc.  In fact, Mr. Pascal Hamelin, Director of Pershimex, has recently been appointed Chief Executive Officer of Abcourt Mines Inc.

Robert Gagnon, President and Chief Executive Officer of the Corporation, said: “The Approval of the Restoration Plan by the Ministry is the cornerstone for the completion of Phase 2 of the Corporation’s development plan. Other authorizations required for bulk sampling are subject to this approval. The processing of mineralized material from the Pershing-Manitou site will be carried out at the Sleeping Giant mill, owned by Abcourt Mines Inc.”

We would like to take this opportunity to congratulate Mr. Pascal Hamelin, Director of Pershimex, on his appointment as the new Chief Executive Officer of Abcourt Mines Inc.

This press release was prepared by Robert Gagnon, professional geologist and President of Pershimex, a qualified person under NI 43-101.

 

For more information, please contact :

Robert Gagnon, President                                                           Jacques Brunelle, VP Corporate Dev.

Tl.:        [phone]                                                              Tl: [phone]

 

 

 

•  
•  

https://pershimexressources.ca/en/2022/04/05/approval-by-the-quebec-government-of-the-restoration-plan-for-the-extraction-of-a-5000-tons-bulk-sample-at-the-pershing-manitou-site/

    Toll mining is a legitimate way for a mill to help make any miner, some extra needed cash.

    5000 bulk tonnes of ore at 7.2 g/t equals 1157 troy ou. of gold.  That amount ($2.225 million US at $1923/ou.) could pay for Abcourt's milling costs, the transportation costs to the mill, and leave a tidy sum for future exploration endeavors for Pershimex Resources at their Pershing-Manitou mine site. It's all good when two companies stand to benefit when they decide to cooperate together as a team.

   Perhaps in the future, more of the same kind of transaction may also take place.  Abcourt Mines could stand to benefit by milling for other exploration companies or 'would' be miners.  Abcourt could certainly use the cash, when we don't have the grades of gold worth milling, but when other companies do!

  Pascal Hamelin is a well connected guy. He sits on the board of an explorer (Pershimex Resources) which appears to have some valuable gold resources to mine. More governmental permitting is still required, prior to any mining, since environmental concerns, still rule the day. One step at a time!

  And now, Pascal Hamelin is the new CEO of Abcourt Mines, which can mill the gold.

  Perhaps, Abcourt can find other explorers with a similar wish? Some old mines may still contain a substantial amount of gold left to find.

  While Abcourt's Sleeping Giant Mine still snoozes, other nearby old mines, seem to be waking up!

  So why not toll mill any nearby explorers who have already found something of value to mine?

  If the Sleeping Giant needs some more rest, why let a mill sit, almost idle, when other gold bars, need to be poured!

      Abcourt's new CEO, Pascal Hamelin, may well understand, there is be a greater need to mill.

                                                                 All the best, Java