Record bets on a higher copper price Fueled by the metals critical role in the global shift toward renewable energy, investors are make record bets on a higher copper price with prices surging to record highs this year due to investor inflows.
(Source: https://x.com/robert_ivanhoe/status/1799128537271771224)
Significant production cuts and operational challenges faced by major producers are further driving costs amid supply constraints and increasing demand.
Playing a pivotal role in various sectors, copper's substantial price rally has been driven by several key factors, including supply constraints, increasing demand and significant production cuts and operational challenges faced by major producers.
7MT of 2.9% Copper in The Abitibi Greenstone Belt
In a position of strength with $17.5M in their treasury for another 16,500m planned for its 2024 work program, Abitibi Metals (AMQ.c AMQFF) is developing the B26 Deposit, a new high-grade polymetallic copper deposit with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
Thus far. In 2024, the first phase has been completed with 13,500m of drilling in 44 diamond drill holes, with the latest results showing 57.2m at 1.78% CuEq in extensional drilling including 13.1m at 3.1% CuEq. Demonstrating that the deposit is further open to the east, these latest results successfully expanded the zone 75m from historical drilling.
An additional 20,000m of drilling is expected in 2025 which will be incorporated into a PEA to complete the B26 deposit.
Aiming to build a resource that is salable to a major, with a target size of 20 to 30 million tonnes, AMQ is on track for a catalyst filled summer in the near term.
For more information, check out the latest CEO interview from the KE Report detailing the latest drill results from the B26 Deposit and extensive exploration program: https://www.kereport.com/2024/06/03/abitibi-metals-recent-drill-results-from-b26-deposit-intersects-high-grade-copper/
Posted on Behalf of Abitibi Metals Corp.