Highlights:
- A 10-hole, 2,975-metre drill program has commenced at the Beschefer Gold Project, located about 7km east of B26 Deposit.
- Drilling will aim to extend the mineralized zone to the northeast and expand high metal factor lenses, including the Central Shallow and East Zones.
- Highlights of previous intersections include 4.92 g/t gold over 28.65 metres in hole BE-21-02 (including 11.39 g/t over 9.1m), 55.63 g/t gold over 5.57 metres in hole BE13-038 (including 224 g/t over 1.23 m; 13.95 g/t over 0.68 m and 13.70 g/t over 0.73 m), 13.07 g/t gold over 8.75 metres in hole B12-014 (including 58.5 g/t over 1.5 m), 3.56 g/t gold over 28.4 metres in hole B14-006 (including 7.42 g/t over 5.5 m), and 10.28 g/t gold over 8.00 metres in hole B14-35 (including 86.74 g/t over 0.60 m). True width in these sections vary between 89% and 99% of the intercepted width.
2024 Drill Program:
To relaunch the exploration of the Beschefer project, a series of 26 holes totaling over 7,200 metres was initially planned. The planned drill grid covers about 650 metres along strike for a vertical influence of about 250 metres, starting at the bedrock contact.
From the initial planning, 6 holes for 1,285 metres were selected to first test the lateral extension potential of the gold system to the northeast using a spacing of about 50 meters. Previous results and the geometry of modelled mineralized lenses support the extension model. Two holes for 380 meters will be drilled in the upper portion of the central zone to evaluate the north-eastward up-dip continuity of the gold-bearing structure at shallow depth. Two holes, combining 430 metres, are planned to test an intrusion contact corresponding to the western limit of the modelled mineralization.
The Company now has two active drill programs on-going. Abitibi continues to drill the first 12,000 metres of a fully funded approximately 50,000-metre drill program at the B26 Polymetallic Deposit ("B26" or the "Deposit"), where it recently released some of the highest-grade intercepts in the project's history, including 11.4% CuEq over 10.6 metres and 6.3% CuEq over 10.6 metres (see news release dated
An advanced gold exploration project with significant near-term resource potential, the
Historically, the area has mainly been explored for volcanogenic massive sulfide deposits similar to the
The Company also announces it has entered into a service agreement with
This press release was reviewed and approved by
ON BEHALF OF THE BOARD
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Notes/Sources:
1. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. |
2. Rapport Technique NI 43-101 Estimation des Ressources Projet B26, |
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws, including statements with respect to the Company's future plans of Beschefer. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to obtain all requisite approvals, including approval of the Canadian Securities Exchange and securities regulatory authorities, if required for a transaction or financing, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop Beschefer or its other projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associates with mineral exploration, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects, changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE
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