Abcourt Mines Inc. announced that the transport of its 5,000 tonnes bulk sample from the Pershing-Manitou deposit is now complete and Abcourt is now preparing the Sleeping Giant mill to process the bulk sample. Over the past few months, the company has carried out a thorough clean-up of the mill which has enabled to recover considerable sums of money, update studies and 3D models as well as identify the maintenance required for a restart of the ore processing plant. The cleaning and recovery phase having been completed; the team can now begin work to put the mill back into operation as quickly as possible.

Thanks to the amounts raised during the first tranche of the current private placement, the company will now be able to relaunch its activities. Over the next 5 weeks, Abcourt will carry out the plant restart sequence. Then, it will process the 5,000 tonnes coming from Pershing-Manitou, which should take 5 to 6 weeks.

In parallel with the start-up of the mill and the resulting sale of gold, Abcourt plans to begin development work in the upper levels of the Sleeping Giant mine with a view to extracting mineralized material. This development work will consist of definition drilling, rehabilitation of the drifts and moving to surface mineralized material already available in the various stopes. The property contains 3 recognized gold deposits: Jolin, Thibodeau and the former Pershing-Manitou mine.

The majority of recent work undertaken by Pershimex has been focused on the old mine. Indeed, it was in operation during the Second World War, between 1939 and 1945. Little information on the production history emerges from the archives and public information available.

Some historic drilling in the vicinity of the mine has highlighted the gold potential. This is what guided the first work on the Pershing-ManitOU deposit. Pershimex carried out approximately 5,000 meters of drilling on the deposit, including the deepest drilling ever carried out under the old mine.

Drill hole PM-21-03 returned 3.07 g/t gold over 25.4 meters at a depth of more than 175 meters vertically. Following the drilling, a Mineral Resource Estimate was carried out, and allowed to request and obtain authorization to extract a bulk sample of 5,000 tonnes which will be processed shortly at Sleeping Giant mill.