CSE:AMQ - Post Discussion
Post by
MarketMakerss on Mar 18, 2024 5:45pm
AMQ Advances Extensive Drilling Program w/ Promising Results
In advancing its extensive drilling program at the B26 Deposit, Abitibi Metals (AMQ.c AMQFF) has been continually returning promising results, as detailed by CEO Jonathon Deluce during his latest interview: https://www.youtube.com/watch?v=hSuxjVSWSV8 In the process of completing its winter drill program, AMQ has targeted a minimum of 10,000m to be achieved by the end of March, marking the first phase of a fully funded 30,000m field season planned for 2024.
7,074m Across 22 Drill Holes
So far, AMQ has completed 7,074m across 22 drill holes including drilling activities focused on the Satellite West Zone where AMQ is targeting a potential extension to the deposit.
Notably, drilling activities encountered exceptional observations of continuity of visual copper mineralization.
An infill hole at the B26 main target was of particular significance, showing about 10 to 15% calc over 11m, starting at 40m depth. This indicates near-surface mineralization supportive of open put bulk tonnage potential.
Potentially indicating a new zone or extension of the main deposit, a extension hole 500m west of the deposit revealed a VMSS sink target near surface, with a copper-rich zone at roughly 120m depth.
The high-grade Polymetallic Copper B26 Deposit is located in the mineral-rich Abitibi Greenstone Belt and has an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
Notably, this update comes on the heels of AMQ's previous release showing 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
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. With results and assays still pending from this drill program, AMQ plans to regularly communicate with investors, anticipating providing multiple updates over the next three months.
Posted on Behalf of Abitibi Metals Corp.
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