Avg lead time ~18 years for starting new mines "Average lead time of nearly 18 years for new mines started in 2020-23" - https://x.com/minenergybiz/status/1798630852227711342
With the average lead time for new mines hitting nearly 18 years amid the globe's widespread shift toward green technology, it's clear the world is hurtling toward a substantial supply deficit for a range of metals including copper.
Playing a crucial role in green technology, copper is vital in renewable energy systems, electric vehicles, energy transmission & distribution, as well as building materials.
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.