Having risen almost 20% this year, reaching a record $11,000per tonne this week, copper is a a hot commodity at the moment amid a doubing of demand growth due to the electrification of the world.
With this, hedge fund manager Pierre Andurand is predicting that copper prices could surge to $40,000 over the next four or so years.
Another bullish analysis comes from Jeff Currie, former Goldman Sachs executive, who says that copper is the highest conviction trade he's seen in his career with the metal representing "the most compelling trade I have ever seen in my 30-plus years of doing this.".
(Source:
https://www.mining.com/copper-prices-could-surge-to-40000-predicts-hedge-fund-manager-pierre-andurand/)
Located in Quebec's Abitibi Greenstone Belt, Abitibi Metals (AMQ.c AMQFF) has been continually releasing high-grade and promising results form the B26 Deposit, a new high-grade polymetallic copper deposit with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
The latest results came yesterday with AMQ announced additional drill results showing 57.2m at 1.78% CuEq in extensional drilling including 13.1m at 3.1% CuEq.
Notably, the B26 Deposit is
Having received drillholes 314, 315, 320 and 323, the highlights are as follows:
- 320: 1.78% CuEq over 57.2m beginning at 235.80m depth, including 3.1% CuEq over 13.05m
- 323: 1.89% CuEq over 28.45m beginning at 133.4m depth, including 6.5% CuEq over 5.25m
Demonstrating that the deposit is further open to the east, results from 320 successfully expanded the zone 75m from historical drilling.
These results are from the 13,500m maiden drill program completed under the first phase of a fully funded 30,000m 2024 field season and have identified targets to the east and west that will be expanded on in the second phase of drilling.
AMQ remains well funded amid an exciting copper market with $17.5m to complete the remaining 16,500m planned for the 2024 work program, as well as for an additional 20,000m in 2025 which will be incorporated into a PEA to complete the B26 deposit.
AMQ CEO Jon Deluce commented:
"High-grade assets like the B26 project in Quebec, located in a world-class jurisdiction, represent an exceptional opportunity. We are very excited about today's news of successful extensional drilling, showcasing the growth potential of this exciting copper/gold project."
Of the 44 diamond drill holes completed in this phase, a range of assays remain pending and are expected over the coming weeks.
Full News Release:
https://abitibimetals.com/abitibi-metals-drills-57-2-metres-at-1-78-cueq-in-extensional-drilling-at-the-b26-deposit-including-13-1-metres-at-3-1-cueq/ For more information, refer to Mining.com's latest feature on AMQ's new copper area:
https://www.mining.com/abitibi-metals-probes-new-copper-area-at-b26-in-quebec/ Posted on Behalf of Abitibi Metals Corp.