Abitibi Metals Drills Highlights:
- The Company has received results from drillholes 1274-24-314, 315, 320 and 323, highlighted by the following intervals:
- #320 – 1.78% CuEq over 57.2 metres beginning at 235.80 metres depth, including 3.1% CuEq over 13.05 metres.
- #323 – 1.89% CuEq over 28.45 metres beginning at 133.4 metres depth, including 6.5% CuEq over 5.25 metres.
- The results from #320 were part of a fanning set of holes designed to expand the eastern boundaries of the Deposit. #320 has successfully expanded the zone 75 metres from historical drilling.
- The Company remains well funded with $17.5 million to complete the remaining 16,500 metres planned for the 2024 work program as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the B26 option.
- Mr Deluce commented: "High-grade assets like the B26 project in Quebec, located in a world-class jurisdiction, represent an exceptional opportunity. We are very excited about today's news of successful extensional drilling, showcasing the growth potential of this exciting copper/gold project."
LONDON, ON, May 23, 2024 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce results from the eastern extension target of the B26 Polymetallic Deposit ("B26", the "Project" or the "Deposit"). Abitibi Metals is fully funded with $17.5 million to complete the remaining 16,500 metres planned for the 2024 work program, as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the option. On November 16th, 2023, the Company entered into an option agreement on the B26 Deposit to earn 80% over 7 years from SOQUEM Inc. (see news release dated November 16, 2023).
Abitibi Metals Drills 57.2 Metres at 1.78% CuEq in Extensional Drilling at The B26 Deposit, including 13.1 Metres at 3.1% CuEq (newswire.ca)