Second Drill Rig Introduced to Phase II Program Abitibi Metals Corp. Expands Drilling Program at B26 Deposit with Second Drill Rig Today, Abitibi Metals (AMQ.c AMQFF) introduced a second drill rig to its Phase II drill program at its high-grade B26 Polymetallic Deposit in Quebec.
The program aims to complete 16,500 metres of drilling by the end of 2024, with the goal of defining a 30-50 million tonne resource.
Notably, the project already boasts a resource of 400 million pounds of copper and 286,000 ounces of gold with significant potential for expansion.
Major Step-Out Drilling
The first drill rig is currently working on a 400-metre step-out hole (1274-24-342) to expand known mineralization. Previous results in this area include 5.08% Cu Eq over 7.1 metres, indicating significant potential for further resource growth.
Significant Mineralization Encountered
To date, three holes and a wedge have been completed with early drilling in Phase II having encountered strong chalcopyrite stringer mineralization over 81 metres.
The deepest intercept in the project's history was recorded in hole 1274-23-338. Additional drilling, including a wedge (1274-23-338-W1), has also revealed substantial chalcopyrite stringer mineralization, highlighting the potential for further resource expansion.
Core Observation and Drilling Details
Core samples from the deepest holes, including 1274-23-338 and its wedge, revealed mineralization with concentrations of chalcopyrite ranging from 2% to 20%. These findings, along with intercepts from 1,100 metres deep, support the theory of significant mineralization along the Western Plunge and Mid-Level targets.
CEO's Remarks
Jonathon Deluce, CEO of Abitibi Metals, emphasized the importance of this new phase of drilling with this exploration phase key to fully understanding the potential of the B26 Deposit:
“The addition of this drill underscores our commitment to accelerating the exploration process and building credibility for our target size of 30 – 50 million tonnes at B26. With Phase 1 having successfully extended mineralization close to surface, this second drill will allow us to further test high-priority targets across the Mid-Level and Western Plunge Targets. Currently the first rig is drilling 1274-24-342 which is an important up to 400 metre step-out to test the western-plunge downdip."
“While some shareholders may have concerns about the current drilling depth, it's important to emphasize that given the size and scale of our target, this depth is still considered shallow for a potential underground mine. When comparing the alteration signature to other significant deposits in the Abitibi region, the potential for B26 suggests a much deeper system, making this drilling phase essential for fully understanding the deposit's potential.”
Full News Release:
https://abitibimetals.com/abitibi-metals-adds-second-drill-rig-to-phase-ii-program-at-the-b26-deposit/ Posted on Behalf of Abitibi Metals Corp.