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Since going public in 2020, Abitibi has focused on unlocking shareholder value through accretive acquisitions and being strategic and responsible with the Company’s treasury.
In 2023, Abitibi made the decision to rebrand reflecting its vision of creating a metals company in the mineral-rich
Over the past 4 months, Abitibi executed its financing goals by bringing on strategic investors in
Major 2023 Milestones:
Secured the High-Grade B26 Polymetallic Copper Deposit
Abitibi became the first public company with the option to earn into the B26 Polymetallic Copper Deposit (Cu-Zn-Au-Ag), one of Quebec’s most promising mineral discoveries, with a current strike of 1 km and depth extent of 0.8 km, open for expansion.Abitibi has now optioned two advanced-stage assets along the Selbaie trend with the B26Polymetallic Copper
Deposit and Beschefer Project , located only 7 km apart.The Project’s 2018 resource included 254 holes over 115,311 metres, advancing the asset to a significant resource that includes, across all categories, 400 million pounds of copper, 286,000 ounces of gold, and significant zinc silver exposure.
Deposit remains open at depth and laterally with strong historical intercepts* including:
2.32% CuEq over 89.5 metres (1274-13-117)
3.05% CuEq over 48.1 metres (1274-16-224)
8.95% CuEq over 11.5 metres (1274-14-152)
With the B26Polymetallic Copper Deposit open for expansion at depth and on strike, there is significant growth potential in the resource and the potential to make a new discovery on trend.
Bringing an experienced partner in,
SOQUEM , a subsidiary of Investissement Québec, dedicated to promoting the exploration, discovery and development of mining properties inQuebec .
Abitibi raised over
$14 million dollars which accelerates the option agreement at the B26 Deposit by completingthe first four-year work requirement under the optionin the first year of development.Added
Frank Giustra andGreg Chamandy as strategic investors who have extensive track-records of success in the mining business.With insider ownership at 20% and the Deluce Family holding an additional 13%, a total of 33% of the Company, Abitibi’s primary stakeholders demonstrate a strong alignment with shareholders. This is complemented by industry-low general and administrative expenses (GA), further enhancing the commitment to shareholder interests.
Building a
Added
Eric Kallio to its Advisory Committee.Mr. Kallio brings a wealth of experience from his four-decade career in the mining industry, where he has served in a number of roles focused on exploration, underground and open pit mine planning, scoping and feasibility studies inCanada and abroad, including most recently as Executive Vice President, Exploration Strategy and Growth at Agnico Eagle (2022 – 2023) and Senior Vice President, Exploration forKirkland Lake Gold (2018 – 2022).In early 2024, Abitibi added
Shane Williams to its Advisory Committee.Mr. Williams is an accomplished mining executive and engineer, renowned for his track record of executional excellence in successful mine restarts and builds. With extensive experience in Canada’s gold mining sector, and particularly his successful track record inQuebec .Mr. Williams played a instrumental role in transforming the Lamèque gold project inQuebec from a Preliminary Economic Assessment stage to a fully operational mine in just 18 months.
2024 Outlook
Exploration-
$10M exploration budget in 2024 broken down by the following objectives:Approximately 30,000 metres of drilling at the B26Polymetallic CopperDeposit which is currently underway with 10,000 metres planned for Q1. To date, four holes have been completed, totalling 1,135 metres, with initial results expected by the end of February following compilation and review.
A complete review of the historical geophysics evaluating the signature of the B26Polymetallic CopperDeposit and the best approaches to extend the mineralized zones.
Abitibi will continue to develop the 3D model and updated internal resource in order to support a strong exploration approach leading to our resource growth goals.
Approximately 3,000 metres of drilling at the
Beschefer Gold Project planned for Q1. Abitibi is positioned to complete the option agreement and earn 100% of theBeschefer Project in 2024.
Corporate:
Abitibicontinues to evaluate other talent to join the Advisory Committee and/or Board of Directors.
PositionAbitibifor shareholders by leveraging high-quality assets. This strategic approach aims to capitalize on the opportunity to construct a portfolio of projects in a safe jurisdiction to conduct business. These projects are geared towards addressing the anticipated shortages in various essential elements, including copper and silver, in the coming years.
Marketing
Abitibi has completed its’ OTCQB and DTC applications in order to increase its’ marketing and awareness initiatives ahead of a catalyst full 2024.
Abitibiwill be attending the PDAC during
March 3-6 at booth #2617.Abitibiis exploring various opportunities to increase its presence at more conferences. This initiative aims to broaden our audience reach and enhance visibility. Additionally, it provides a platform for
Jonathon Deluce , CEO of Abitibi, to deliver the corporate presentation, further highlighting our strategic vision and goals.
About
ON BEHALF OF THE BOARD
For more information, please call 226-271-5170, emailinfo@abitibimetals.com, or visithttps://www.abitibimetals.com.
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter:https://twitter.com/AbitibiMetals
LinkedIn:https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Source 1: Fayard, Q, Mercier-Langevin, P., Wodicka, N., Daigneault, R., & Perreault, S. (2020). The
Source 2: Rapport Technique NI 43-101 Estimation des Ressources Projet B26,
Source 3: Fayard, Q. (2020). CONTRÔLES VOLCANIQUES, HYDROTHERMAUX ET STRUCTURAUX SUR LA NATURE ET LA DISTRIBUTION DES MÉTAUX USUELS ET PRÉCIEUX DANS LES ZONES MINÉRALISÉES DU PROJET B26, COMPLEXE VOLCANIQUE DE BROUILLAN, ABITIBI,
* Not necessarily representative of the of the true width of mineralization
Copper Equivalent values calculated using metal prices of
Forward-looking statement:
This news release contains certain statements, which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the
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Copyright (c) 2024 TheNewswire - All rights reserved., source