AMQ Announces Promising Results from Phase 1 Drilling @ B26 Abitibi Metals Corp. (Ticker: AMQ.c or AMQFF for US investors) recently reported final results from the Phase 1 drilling program at the B26 Polymetallic Deposit. The drilling found significant mineralization, confirming the potential of the B26 Deposit and setting the stage for an expansive Phase 2 program commencing in July.
Key Highlights from Phase 1 Drilling:
- 0.75% CuEq over 57.75 meters at 81 meters depth, including 2.33% CuEq over 11.3 meters.
- 0.97% CuEq over 17.05 meters at 164.8 meters depth.
- 1.16% CuEq over 14 meters at 118 meters depth.
0 4.43% CuEq over 5.8 meters at 144.5 meters depth.
- and 3.97% CuEq over 9.75 meters at 265.85 meters depth.
Moreover, drilling at the Western Satellite target revealed significant mineralization 500 meters west of the Main B26 Deposit, with one hole intercepting 1.35% CuEq over 19.75 meters. Additionally, the deposit's eastern limit was extended by 75 meters, with a hole yielding 1.78% CuEq over 57.2 meters.
AMQ also successfully tested the project's open-pit potential, notably with a hole that intercepted 1.47% CuEq over 97.5 meters from a shallow depth of 30.5 meters.
Finally, infill drilling filled gaps in the resource model and identified areas with potential grade increases. Notably, Hole 1274-24-294 reported 11.4% CuEq over 10.6 meters within a broader interval of 2.5% CuEq over 61.3 meters.
The company's CEO, Jonathon Deluce, expressed enthusiasm about these results and their positive impact on Abitibi's internal resource model.
He highlighted the extension of the deposit's western and eastern limits, successful identification of high-grade shoots, and promising results from infill drilling.
Deluce noted, "We are currently evaluating the potential of publishing an updated resource in the near-term."
With a solid financial footing, Abitibi Metals is well-prepared to continue its ambitious drilling plans. The company boasts $17 million in funds, earmarked for completing the remaining 16,500 meters of drilling in 2024 and an additional 20,000 meters in 2025.
This extensive drilling campaign is part of a strategic effort to complete a Preliminary Economic Assessment (PEA) and exercise the option to earn an 80% interest in the B26 Deposit from SOQUEM Inc.
Abitibi Metals remains committed to delivering value through strategic exploration and resource development, with significant growth potential at the B26 Deposit and beyond.
Full news here: https://abitibimetals.com/abitibi-metals-drills-9-75-metres-at-3-97-cueq-at-the-b26-deposit/
Posted on behalf of Abitibi Metals Corp.