Today, Abitibi Metals Corp. (Ticker: AMQ.c or AMQFF for US investors), a Quebec-focused mineral acquisition and exploration company, announced the commencement of its Phase II drill program at the B26 Polymetallic Deposit.
https://abitibimetals.com/abitibi-metals-outlines-expansion-model-at-the-b26-polymetallic-deposit/
This program follows the success of Phase I, which highlighted significant expansion potential across three key exploration environments: the western plunge (down-dip) extension, mid-level target, and open-pit model optimization.
Western Plunge (Down-Dip) Extension: AMQ is focusing on expanding the historical resource by targeting mineralization down-dip along the western plunge. A 1,250-meter drill hole is currently being undertaken to explore west of a previous significant intercept, aiming to extend the mineralized zone to the deepest levels in the Project’s history.
Open-Pit Optimization: The Phase II program also includes testing the expansion potential of near-surface mineralization within the existing open-pit resource. This will help refine the deposit's geometry and extend mineralization beyond current limits.
Mid-Level Resource Expansion: Abitibi has identified substantial expansion opportunities between 300 and 625 meters depth, an area that has seen limited historical drilling. Strategic drilling in this zone aims to further define and expand the resource efficiently.
Abitibi Metals is well funded, with $15.5 million earmarked for the 2024 program and an additional 20,000 meters planned for 2025, supporting an updated resource estimate and a Preliminary Economic Assessment (PEA) to finalize the B26 option agreement with SOQUEM Inc.
CEO Jonathon Deluce emphasized the strategic importance of the ongoing Phase II drill program, noting the potential for the western plunge to significantly increase the deposit's metal inventory. Abitibi’s review of historical data, coupled with Phase I results, indicates substantial opportunities for expansion both laterally and at depth.
Deluce will present at the Clean Energy Metals Virtual Investor Conference this upcoming Thursday, August 29th. He will highlight strategic growth initiatives, particularly focusing on the B26 Polymetallic Deposit and the ongoing drilling.
https://abitibimetals.com/abitibi-metals-to-present-at-the-clean-energy-metals-virtual-investor-conference-august-29th/
Posted on behalf of Abitibi Metals Corp.