Today, Abitibi Metals (AMQ.c AMQFF) announced the second batch of maiden drill program results from its B26 Deposit, including 97.5m at 1.47% CuEq near surface with further highlights including:
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#297 - 0.70% CuEq over 32.5 metres beginning at 52.3 metres along hole
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#299 - 1.04% CuEq over 10.4 metres beginning at 33 metres along hole
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#300 - 5.35% CuEq over 8.1 metres beginning at 251 metres along hole
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#301 - 1.47% CuEq over 97.5 metres beginning at 30.5 metres along hole, including 3.9% CuEq over 21.8 metres;
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#335 - 1.05% CuEq over 8.6 metres beginning at 125.4 metres
Notably, hole 297 and 299 successfully extended the system up-dip, closer to the surface and in line with AMQ's objective of testing the north bedrock interface to complete the model to assess the potential updated pit-shell model.
The excellent results from hole 301 supported the bulk tonnage open pit-potential, represent a estimated true thickness of 30m and expanded the mineralized zone, in line with AMQ's objective of better defining the high-grade core while assessing for near surface bulk tonnage potential.
Hole 335 confirmed and extended the copper potential of the Satellite West Zone located 500m to the west of the main deposit.
Notably, this news comes on the heels of AMQ expanding its maiden drill program to 13,500m at the B26 Deposit, due to continued positive intervals.
This increase follows the addition of a third rig and AMQ's recent release of some of the highest-grade intercepts in the Project's history, including 11.4% CuEq over 10.6m beginning at 135m as well as 6.3% CuEq over 10.6m beginning at 120m depth.
Given AMQ's ongoing success in the field and the recent closing of an oversubscribed $7.1M financing, bringing their total treasury to ~19M, expanding the program was an easy step to continue the aggressive development of the deposit.
"With assays from over 40 holes at B26 to be released in the coming weeks, and a simultaneous on-going drill program at the high-grade Beschefer Gold Project, the Spring will continue to be a very exciting time for Abitibi.”
Amid its fully-funded 50,000m drill program, AMQ's B26 Deposit is a new high-grade polymetallic copper deposit in Quebec's Abitibi Greenstone Belt with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
As the number one priority is to test the open pit, AMQ's key B26 targets will test the extension and expansion potential as well as test the system at depth,
With the first phase of drilling demonstrating the robust nature of the B26 Deposit, AMQ has established a solid foundation and technical vision for a 3D model, resource expansion and the de-risking of the project.
While copper continues to surge, the metal strongly positioned as it plays a crucial role in decarbonization; however, while the core technology involving copper is not changing, the demand for the metal is surging to an unprecedented volume as the underlying narrative remains positive from both a challenged supply perspective and with regards to cyclical improvements in global growth.
Boasting a tightly held, warrant-free structure with significant insider ownership and a share count below 100M, AMQ's narrative is clear amid this dynamic market.
Posted on Behalf of Abitibi Metals Corp.