B26 Property Wide Gravity Survey Completed Today, Abitibi Metals (AMQ.c AMQFF) announced the completion of the property wide gravity survey at the B26 High-Grade Polymetallic Copper Project, which boasts an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq
This was the first surface gravity survey completed in the project's history with readings at 1,466 stations completed.
The first phase of the survey was completed over the entire property to delineate the gravity signature of the Main Deposit and uncover potential targets for similar deposits within the property, serving as a crucial tool in understanding the geological context surrounding the deposit.
Currently, the B26 footprint has a strike length of 1.6km, however, AMQ identified a targeted trend of ~6.7km west of the footprint which will be investigated.
Jonathon Deluce, CEO of Abitibi Metals, stated:
“We are excited to review the B26 deposit environment and identify similar targets. This survey will delineate the gravity signature of the B26 Main Deposit and uncover potential targets for similar deposits on the property. From preliminary data received to date, the Company has identified several high-priority drill targets to be tested outside of the B26 Deposit.
AMQ recently completed its Phase 1 13,500m drill program which extended the deposit on both the western and eastern limits and expanded mineralization to the north of the deposit, supporting the companies open-put thesis and identifying several high-grade shoots through infill drilling.
As the first phase of drilling was a great success, showcasing the growth potential and continuity through successful extensional and infill drilling, the second phase will focus on growth and expansion drilling, following down plunge trends identified by the geological model.
The B26 Deposit
Last week, AMQ announced the final results from the phase 1 drill program showing 9.75m at 3.97% CuEq at the Deposit.
Amid finalizing the phase 2 drill program, set to commence in July and target the expansion of the deposit at depth and along strike, AMQ remains well funded with ~$17M to complete the remaining 16,500m planned for the 2024 work program as well as an additional 20,000m in 2025 which will be incorporated into a PEA to complete the B26 option.
Notably, Phase 1 successfully met a range of objectives previously set out, including extensions at the Western Satellite and Eastern Extension, testing the open-pit potential and infill drilling successfully filling gaps in the model.
As a new copper super cycle has emerged due to several rising geopolitical and market trends, AMQ is on track for a catalyst filled summer as it aims to build a resource that is saleable to a major, with a target size of 20 to 30 million tonnes.
Full News Release: https://abitibimetals.com/abitibi-metals-completes-b26-gravity-survey/
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.