2,462 meters of surface diamond drilling was done on the
FOR IMMEDIATE RELEASE
TSX Venture – ABI.V
February 21, 2017
2,462 meters of surface diamond drilling was done on the
Abcourt-Barvue property in December 2016 and January 2017
and in most cases, excellent results were obtained
___________________________________________________
Mont-St-Hilaire, Québec, Canada, February 21, 2017
Mr. Renaud Hinse, President and Chief Executive Officer of Abco urt Mines Inc.
(TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
(“Abcourt” or the “Company”) is pleased to announce that 10 surface holes were
drilled, for a total of 2,462 mete rs, on the Abcourt-Barvue pro perty located near
Val-d’Or, Quebec, Canada, and in most cases, excellent results were obtained. See
below:
Hole
No.
From
m
To
m
Length
m
Ag
g/t
Zn
%
AB 16-06 211.5 219.0 7.50 66.8 2.66
AB16-07 172.0 176.0 4.00 43.0 1.86
AB16-08 251.0 254.6 3.60 21.9 6.08
AB16-09 220.5 230.5 10.00 47.8 1.55
AB16-10 222.0 231.1 9.10 41.5 3.27
AB16-11 See Note 1
AB16-11 A 230.0
239.0
235.0
250.3
5.00
11.30
37.8
7.4
4.09
2.80
AB16-12 160.0
275.7
161.93
292.4
1.93
16.65
12.9
4.7
13.80
2.00
AB17-01 318.0 319.75 1.75 15.6 0.38
AB17-02 234.0
240.0
240.0
242.9
6.00
2.90
49.8
2.2
1.37
4.25
Note 1: Hole abandoned due to important deviation.
Most of these holes were drilled to increase the amount of information on which the
inferred resources calculations are based.
True widths represent between 60% and 75% of core lengths.
The intersections were obtained at depths of about 250 meters.
Additional drilling on this property is justify as long as this kind of results continue to
be obtained.
QA/QC PROCEDURE
N.Q. core is placed in boxes at drill site and boxes are delive red to the core shack by
the drillers. Hole locations and dips of holes are checked by a n Abcourt employee.
Core is logged and samples taken are marked by a qualified pers on. The sampled
core is cut in half by a diamond saw, half being kept in the co re box and stored on the
site, the other half being taken to Laboratoire Expert in Rouyn -Noranda for assaying
by the atomic absorption method. F or every twenty samples of co re, a standard
sample is included in the batch. At the laboratory, one sample in ten is analyzed in
duplicate. Sample rejects and unused pulps are returned and sto red at the project
site. Laboratoire Expert is not an accredited assayer but the u se of standard samples
enables us to check the accuracy of the assays.
New resources calculations in 2014
A 43-101 report on the Abcourt-Ba rvue resources was prepared by Mr. Jean-Pierre
Bérubé, engineer and independent consulting geologist with pert inent experience in
this field. This report indicates an increase in indicated and inferred resources in
comparison with those of 2006. T his report was filed on SEDAR. Here is a
comparative table of resources in all categories:
Table 1. Resources of all categories
2014 Estimate 2006 Estimate
CATEGORY TONNES Ag (g/t) Zn (%) TONNES Ag (g/t) Zn (%)
Measured 6,284,000 43.98 3.09 6,516,000 58.32 3.33
Indicated 1,799,000 95.51 2.94 503,000 98.35 3.44
M + I 8,083,000 55.45 3.06 7,019,000 61.19 3.33
Inferred 2,037,000 114.16 2.89 1,506,000 120.53 2.98
If the open pit outlines designed in 2007 by GENIVAR remain unc hanged, it is
estimated that 77% of the meas ured and indicated resources will be extracted from
an open pit and 23% from underground operations.
The increase in tonnage between the 2006 estimate and the 2014 estimate was
brought about by additional diamond drilling in 2010 and 2011 a nd by a substantial
increase in the price of silver which enabled us to use a lower cut-off grade.
The measured resources are generally extending from surface to a maximum depth
of 165 meters. The indicated resources are generally located in the immediate
extensions of the measured blocks from elevation -125 to -300 meters.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a Canadian exploratio n company with
strategically located properti es in northwestern Quebec, Canada . The Elder property
has gold resources (2012) and a pos itive P.E.A. study. Abcourt is focusing on the
exploitation of the Elder mine.
The Abcourt-Barvue property has silver–zinc resources (2014). A feasibility study was
completed in 2007 by Roche / Genivar on the Abcourt-Barvue project.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between
Amos and Matagami, in Abitibi, Q uebec, in the territory covered by the Plan Nord of
the Quebec government. The mill has a capacity of 700 to 750 t onnes per day and
the Sleeping Giant property has m easured and indicated historic al resources of
306,000 tonnes with a grade of 12. 3 grams of gold per tonne and 42,000 tonnes of
inferred historical resources wit h a grade of 12.4 grams of gol d per tonne. Other
advanced exploration properties wer e also acquired, with, in ag gregate, historical
indicated and measured resources totaling 403,210 ounces of gol d and historical
inferred resources of 432,000 ounces of gold.
Historical resources in copper, zinc, gold and silver are found on the Aldermac and
Jonpol properties.
Work must be done to upgrade or ver ify the historical mineral r esources as current
mineral resources.
A qualified person has not done sufficient work to classify the historical estimate as
current mineral resources, and t he issuer is not treating the h istorical estimate as
current mineral resources.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit o u r w e b s i t e a t
www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.
This press release was prepared by Mr. Renaud Hinse, Engineer a nd President of
Abcourt Mines Inc. Mr. Hinse is a “Qualified Person” under the terms of Regulation
43-101.
Forward-Looking Statements
This news release contains forwa rd-looking statements that incl ude risks and
uncertainties. When used in this news release, the words "estim ate", "project",
"anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as
well as "will", "shall" and other indications of future tense, are intended to identify
forward-looking statements. The forward-looking statements are based on current
expectations and apply only as o f the date on which they are ma de. Except as may
be required by law, the Corporat ion undertakes no obligation an d disclaims any
responsibility to publicly update or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise.
The factors that could cause actual results to differ materiall y from those indicated in
such forward-looking statement s include changes in the prevaili ng price of gold, the
Canadian-United States exchange rate, grade of ore mined and un foreseen
difficulties in mining operations that could affect revenue and production costs. Other
factors such as uncertainties r egarding government regulations could also affect the
results. Other risks may be set out in Abcourt’ annual and peri odic reports. The
forward-looking information contained herein is made as of the date of this news
release.
For more information, please contact:
Renaud Hinse, President and CEO
T: 819 768-2857 450 446-5511
F: 819 768-5475 450 446-3550
Email : [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.