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Abcourt Mines Inc V.ABI

Alternate Symbol(s):  ABMBF

Abcourt Mines Inc. is a Canadian gold exploration company with properties located in northwestern Quebec, Canada. The Company owns the Sleeping Giant mine and mill, where it focuses its development activities. The Sleeping Giant Property is located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. It comprises four mining leases covering an area of approximately 458 hectares and 69 mining claims. The Elder mine and the Tagami property are located 10 kilometers (km) northwest of the mining community of Rouyn-Noranda in Quebec. The properties include over 36 contiguous claims, one mining concession and two mining leases. The Abcourt-Barvue property is located 12 km north of Barraute, 60 km north of the mining community of Val-d’Or, Quebec. It covers over 4,755 hectares with 103 claims and two mining concessions. Its properties also include Flordin, Pershing-Manitou, Vendome, Aldermac, Jonpol and other properties.


TSXV:ABI - Post by User

Comment by petersburggrayon May 17, 2022 10:37am
140 Views
Post# 34689084

RE:Sleeping Giant progression.

RE:Sleeping Giant progression.Putting Elder on care and maintenance will also let Abcourt consolidate all mining equipment fleet at Sleeping Giant allowing for potentially greater labor productivity. I would also expect Abcourt gold aisc to come down significantly over time because gold production cost at Sleeping Giant much lower due to ore only needing to be hoisted into mill vs. buying lots of expensive diesel, labor, fleet cost involved in trucking muck from Elder to Sleeping Giant. Both Elder and Sleeping Giant are narrow vein but higher grade at Sleeping Giant will also cut aisc since fixed mine costs spread over 2x to 4x gold ounces produced vs. same quantity of muck from Elder. Thanks Fernand for correcting me by pointing out Sleeping Giant has m&I of 486kt at 11.2gpt gold. As I recall the highest grade and greatest tonnage of this resource is located at bottom of shaft where previous operator defined this resource with a drill program consisting of 300 or so drill holes. Is the shaft operational to bottom or is capex spend on shaft repairs necessary bring shaft up to safety standard? Also this is 486kt of 11.2gpt in m&i resource need drilling to upgrade to proven and probable. If Abcourt could convert 70% of m&i to pand p that would be strong.
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