In its most recent drilling update, Abitibi Metals Corp. (Ticker: AMQ.c or AMQFF for US investors) shared drilling results from its Beschefer Gold Project.
The 2,325-metre drill program, focused on the East Zone, yielded promising results that further expand the known mineralization.
Highlights include intercepts of 1.48 g/t gold over 14.55 metres and 1.46 g/t gold over 6.0 metres, successfully extending the East Zone by approximately 100 metres to the northeast. The drilling has created continuity at 50-metre spacing, further strengthening the potential of the project.
CEO Jonathon Deluce emphasized the significance of these findings, noting that the program's success in higher-risk extensional drilling positions the company to discover higher-grade trends within the wider mineralized body in future campaigns.
Additionally, Abitibi Metals is advancing its exploration efforts with an eye toward its Phase 2 drill program at the B26 Polymetallic Deposit, located 7 kilometers west of Beschefer. This program aims to expand the deposit both at depth and along strike.
The company remains well-funded, with approximately $16.5 million earmarked to complete the remaining 16,500 metres of drilling planned for 2024 and an additional 20,000 metres in 2025. These efforts are expected to culminate in a Preliminary Economic Assessment to complete the B26 option.
In addition to its exploration activities, Abitibi Metals has strategically optioned its Southern Arm Property to Usha Resources Ltd., marking the second grassroots project the company has partnered on in the past year. This move allows Abitibi to maintain focus on its more advanced projects while unlocking value from its grassroots portfolio.
CEO Deluce expressed confidence in the company’s strategy, highlighting the importance of leveraging grassroots assets through partnerships while concentrating resources on the development of high-potential projects like the B26 Polymetallic Deposit and the Beschefer Project. As Abitibi Metals continues to expand its exploration footprint, these strategic initiatives are poised to deliver significant value to shareholders.
Full news here: https://abitibimetals.com/abitibi-metals-drills-14-55-metres-at-1-48-g-t-gold-at-beschefer/
Posted on behalf of Abitibi Metals Corp.