Yesterday, Abitibi Metals (AMQ.c AMQFF) announced the drilling of 9.75m at 3.97% CuEq at 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.
These are the final results from AMQ's phase 1 drill program, highlighted by the following intervals:
- 0.75% CuEq over 57.75m beginning at 81m depth including 2.33% CuEq over 11.3m
- 0.97% CuEq over 17.05m beginning at 164.8m depth
- 1.16% CuEq over 14m beginning at 118m depth
- 4.43% CuEq over 5.8m beginning at 144.5m depth
- 3.97% CuEq over 9.75m beginning at 265.85m depth
Excited about the impact of Phase 1 drilling and the move in commodity prices on their internal resource model, AMQ CEO Jonathon Deluce commented:
"We are very excited about the impact of the Phase 1 drilling and move in commodity prices on our internal resource model. As a result, we are currently evaluating the potential of publishing an updated resource in the near-term."
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-drills-9-75-metres-at-3-97-cueq-at-the-b26-deposit/
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.