CSE:AMQ - Post Discussion
Post by
MarketMakerss on Mar 12, 2024 6:09pm
Intersection of Semi-Massive & Massive Sulphides @ B26
Yesterday, Abitibi Metals (AMQ.c AMQFF) announced the intersection of semi-massive and massive sulphides in extensional drilling at the high-grade B26 Polymetallic Deposit:
The B26 Deposit is a high-grade Polymetallic Copper Deposit in the mineral-rich Abitibi Greenstone Belt with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
Targeting 10,000m by the end of March under the first phase of a fully funded 30,000m 2024 field season, AMQ's maiden drill program has completed 7,074m across 22 holes to date.
Notably, 5 holes totalling 1,803m at the Satellite West Zone are targeting a new potential extension to the B26 main Deposit
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Drillholes 1274-24-293 and 294: Rushed assays included 4.0% CuEq over 22.7m, including 6.3% CuEq over 10.6m & 4.1% CuEq over 34m including 11.4% CuEq over 10.5m with further assays pending
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Drillhole 1274-24-301: Intersection of 11m interval observed to contain 10 to 15% chalcopyrite from 248.3m within a larger interval containing sub-parallel 1 to 10cm chalcopyrite from 36m to 85.5m
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Drillhole 1274-24-335: Continuity of potential satellite zone 500m to the west of the main deposit showed indications of strong VMS system with up to 7% sphalerite observed over 15m from 43m and 5% chalcopyrite over 20m from 116.5m
In continuing to hit significant semi-massive and massive sulphides, AMQ believes that drill hole 1274-24-335 may highlight the deposit's expansion potential with the continuity of the potential satellite zone showing a strong VMS system.
These results are significant as chalcopyrite is the most important and major source of copper metal and the mineral in the purest form contains 34.5% Cu. Thus, with multiple intercepts of 10% to 20% Chalcopyrite, AMQ could be sitting on 6.9% Cu grade. (Source: https://twitter.com/airic101/status/1760675924524380182) These results follow the previous release of some of the highest-grade intercepts in the project's history which support the open-pit potential at the deposit from drillholes 1274-24-293 and 294 including 11.4% CuEq over 10.6m beginning at 135m depth and 6.3% CuEq over 10.6m beginning at 120m depth.
Notably, a 333% increase was noted on AMQ's twinned hole, hinting at substantial incoming growth potential as AMQ continues to update the existing resource estimate of 7.0MT @ 2.94% Cu Eq indicated and 4.41MT @ 2.97% Cu Eq inferred
Jonathon Deluce, CEO of Abitibi Metals, commented,
"The drilling at B26 is delivering exceptional observations of continuity of visual copper mineralization, and it is rare to have such great success so early in a maiden program, which speaks volumes to the potential of this high-grade project. Having recently released some of the highest-grade intercepts in the Project's history, which demonstrated a potential way to increase the grade of our block model, 1274–24–335, located 500 metres to the west of the main deposit, now shows a way for Abitibi to potentially expand the deposit along strike.
With visuals supporting AMQ's objective of successfully testing the open-put potential at the B26 Deposit, AMQ is currently reviewing the possibility of adding a third drill to continue the momentum of the positive developments, with the goal of increasing near-surface tonnage over a 1.0km continuous strike length.
Boasting a tightly held, warrant-free structure with significant insider ownership and a share count below 100M, AMQ's narrative is clear amid growing momentum and a catalyst-filled 2024. Given both holes and assays still pending from this drill program, AMQ plans to regularly communicate with investors, anticipating providing multiple updates over the next three months.
"With a well-capitalized treasury, strong leadership and one of the most promising copper and gold projects in North America, Abitibi is in an excellent position to realize its vision of establishing a significant metals company in the Abitibi Greenstone belt" as stated by AMQ's Strategic Investor, Greg Chamandy.
Posted on Behalf of Abitibi Metals Corp.
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