Today, Abitibi Metals (AMQ.c AMQFF) outlined its expansion model at the B26 deposit, having recently commenced its Phase II drill program, targeting 16,500m of drilling.
This program follows a successful Phase 1, which revealed significant expansion potential in three key exploration areas: the western plunge extension, mid-level targets, and open-pit optimization.
Notably, the polymetallic deposit has a historical resource estimate of 7.0 million tonnes at 2.94% Cu Eq (Indicated) and 4.4 million tonnes at 2.97% Cu Eq (Inferred).
Focus Areas and Objectives
- Western Plunge Extension: Focus on deeper drilling where previous drilling indicated copper-gold mineralization.
- Open-Pit Optimization: Test near-surface expansion potential inside and outside of the current open-pit resource.
- Mid-Level Resource Expansion: Target vertical depths between 300 and 625 meters, aiming to extend mineralized lenses.
Financial Position
Well-funded, with $15.5 million allocated for the 2024 drilling program, an additional 20,000 meters of drilling is planned for 2025, which will contribute to an updated resource estimate and a Preliminary Economic Assessment (PEA) to complete the B26 option.
Jonathon Deluce, CEO of Abitibi Metals, stated:
"The on-going Phase II drill program at the B26 Deposit marks a pivotal step in our exploration strategy. We are particularly excited about the potential of the western plunge, where deeper drilling could significantly increase the contained metal inventory. Abitibi’s review of historical data and Phase I drilling results suggests significant expansion opportunities following lateral trends, and at depth where previous drilling encountered copper-gold mineralization with widely spaced holes.”
Full News Release: https://abitibimetals.com/abitibi-metals-outlines-expansion-model-at-the-b26-polymetallic-deposit/
Posted on Behalf of Abitibi Metals Corp.