With the completion of its first-ever comprehensive 3D modelling of theB26 deposit coming on the heels of the second batch of maiden drill program results, Abitibi Metals (AMQ.c AMQFF) marked a significant new milestone last week.
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.
The new 3D geological model represents a fundamental evolution in the understanding of the geological controls of mineralization within the deposit and is expected to enhance confidence in mineral potential evaluation and refine drill planning initiatives that are underway.
-
Footprint of deposit extends along a strike length of 1.6km by 0/8km at depth, occupying a ~150m width corridor
-
Three Historical Zones Identified:
-
Feeder Cu Zone: 3.71 Mt @ 2.01% Cu, 0.1% Zn, 0.87 g/t Au, and 7 g/t Ag indicated & 4.23 Mt @ 2.10% Cu, 0.4% Zn, 1.03 g/t Au, and 7 g/t Ag inferred
-
Horizon Zn: 2.24 Mt @ 4.98% Zn, 0.24% Cu, 99 g/t Ag, and 0.09 g/t Au (indicated)
-
Remobilized Ag-Zn: 0.81 Mt @ 3.02% Zn, 0.01% Cu, 138 g/t Ag, and 0.07 g/t Au (indicated)
-
Copper gold system representing the main volume of the deposit is plunging to the west along a 40 to 50-degree trend with a 70-degree dip
-
Confirmed zinc-rich VMS lens marking the southern contact of the mineralized system follows a stronger plunge between 50 and 70 degrees to the west
-
Identification of high-priority expansion targets and trends within and outside the main deposit that will be drilled in Q2 & Q3
To improve the property-wide target model, a mag inversion along B26 corridor and property-wide gravity survey will commence shortly.
Jonathon Deluce, AMQ's CEO, commented,
"We are excited to highlight our new 3D model of the B26 Deposit, which showcases its size, scale and growth potential. There are few polymetallic opportunities of this grade and size within Canada and we believe these will be highly sought after as this commodity and precious metals market continues to break out. We will continue to refine the model as we receive results and provide updates to the market. We are still awaiting assays from over 30 holes from our phase 1 drill program, which we look forward to announcing over the coming weeks."
Maiden Drill Program Results
Notably, the second batch of maiden drill program results from its B26 Deposit include:
-
#297 - 0.70% CuEq over 32.5 metres beginning at 52.3 metres along hole
-
#299 - 1.04% CuEq over 10.4 metres beginning at 33 metres along hole
-
#300 - 5.35% CuEq over 8.1 metres beginning at 251 metres along hole
-
#301 - 1.47% CuEq over 97.5 metres beginning at 30.5 metres along hole, including 3.9% CuEq over 21.8 metres;
-
#335 - 1.05% CuEq over 8.6 metres beginning at 125.4 metres
Notably, holes 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, represented an 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.
With over 40 holes completed totaling over 12,000m from three drill rigs and assays from 33 holes still pending, AMQ is on track for a catalyst-filled spring. 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.