Abcourt’S Directors Have Approved a $1.6 M Exploration Program ON the Sleeping Giant, Discovery and Flordin GOLD Properties _____________________________________________________________
FOR IMMEDIATE RELEASE
TSX Venture – ABI.V
September 10, 2019
ABCOURT’S DIRECTORS HAVE APPROVED A $1.6 M EXPLORATION
PROGRAM ON THE SLEEPING GIANT, DISCOVERY AND FLORDIN
GOLD PROPERTIES
_____________________________________________________________
Rouyn-Noranda, Quebec, Canada, September 10, 2019
Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt St ock Exchanges: AML-FF)
(“Abcourt” or the “Mines Abcourt Inc.) is pleased to announce that Abcourt’s directors have
approved a $1.6 M exploration program at the Sleeping Giant, Di s c o v e r y a n d F l o r d i n g o l d
properties.
Sleeping Giant mine, vein 8
At the Sleeping Giant mine, the objective is to explore the upp er part of vein 8 by diamond drilling.
A total of 6,000 meters is planned. In the past, vein 8 was min ed from level 485 m to level 975 m,
where the vein is relatively closer to shaft No 2. The producti on totalled 628,000 tonnes with grade
of 12.12 g/t Au. Some lateral extensions were left as shown by several intersections shown on the
vertical projection of the plan attached.
On the upper levels, with a 32o to 45o dip the vein moves away from shaft No 2 as it goes up. In the
past, with low gold prices, the exploration and mining of this part of vein 8 was not considered
feasible.
With the current gold price ($1,500 US or $2,000 CDA) our mine geologist considers the upper part
of vein 8 as a very nice exploration target with a potential of 1,3 M tonnes of mineralization with a
grade of about 12 g/t of gold.
Discovery Project
The Discovery property covers the Cameron deformation corridor in the western extension of the
Flordin property held 100% by Abcourt and the Cameron Shear pro perty held 50% by Jien Canada
Mining Ltd and 50% by Abcourt Mines Inc. The property was acqui red from Deloitte Restructuring
Inc. on February 23, 2016. There is no royalty to pay.
The Discovery property is located 60 km to the north-west of th e Lebel-Sur-Quévillon municipality,
Quebec, Canada. It is located on the SNRC 32F/06 map and stradd le the Desjardins and Bruneau
townships border line. The property is located on the Lac Simon Algonquin land of category III. It
consists in 83 mining titles (CDC) totaling 4,165.7 hectares.
The gold mineralization on the Discovery property is found in v eins. It is made up of 1 to 5%
pyrrhotite and pyrite associated with quartz-ankerite. Walls ar e sometimes albitized and silicified.
The sulfides are disseminated or injected in irregular or tension fractures.
Several drilling programs were done and mineral resources were calculated in the past, but as
additional holes were drilled after the calculation of resource s, Abcourt does not believe that these
resources are suitable for disclosure.
Most of the drilling in the past was done to outline several ve ins or mineralized zones from surface
to a depth of about 300 meters. The 2019 drilling program is pl anned to find the depth extension of
this mineralized zone.
Flordin Project
The Flordin property consists in twenty-five (25) mining titles in the Desjardins and Franquet
townships located about 40 km to the north of the Lebel-Sur-Qué villon municipality. There is no
royalty to pay. The property was acquired from Deloitte Restructuring Inc. on February 23, 2016.
The property covers the Cameron deformation corridor over almos t 4 km in the eastern extension
of the Discovery property, held 100% by Abcourt and the Cameron Shear property held 50% by
Jien Canada Mining Ltd and 50% by Abcourt Mines Inc. as mentioned previously.
The approximate UTM coordinates of the main showing are 358,740 E and 463,840 N (zone 18).
The property is located in the Lac Simon Algonquin category III territory.
Mineralization extends over a distance of 3 Km. In the past, se veral holes were drilled and a
resource calculation was done by InnovExplo in 2011, but Abcour t does not consider these
calculations as current and does not believe they are suitable for publication.
In 1987-1988, a ramp was excavated in zone B and two bulk sampl es were taken. The bulk
sample mineralization was treated at the Bachelor mill and the following results were obtained:
5,174 tonnes at 2.51 g/t Au in 1987 (Sullivan/Bachelor)
4,053 tonnes at 4.25 g/t Au in 1988 (Cambior/Bachelor)
The objective of the 2019 drilling campaign is to outline at de pth some of the best gold
intersections obtained previously in the 2010 and 2011 drilling by NAP Quebec Inc.
On the Discovery and Flordin properties, it is planned to drill about 10,000 meters.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a Canadian exploratio n company with strategically
located properties in northwestern Quebec, Canada. The Elder pr operty has gold resources (2018)
and a positive P.E.A. study (2012). Abcourt is focusing on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver-zinc reserves (2014). A feasibility study was completed in
2007 by Roche / Genivar. A 43-101 update was completed in Janua ry 2019. A total of 8.07 M
tonnes of proven and probable reserves with a grade of 51.79 g/ t of silver and 2.83% of zinc are
available to be mined. The portion mineable by open pit is 81.6 % and the portion mineable
underground is 18.4%. Inferred resources are 2.07 M tonnes with a grade of 114.16 g/t of silver
and 2.89% zinc.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, loc ated half-way between Amos and
Matagami, in Abitibi, Quebec, in the territory covered by the P lan Nord of the Quebec government.
The mill has a capacity of 700 to 750 tonnes per day. A NI 43-1 01 resource estimate was filed in
May 2019. A positive 43-101 feasibility study was completed rec ently by PRB Mining Services Inc.
The mineral reserves are 10,900 tonnes in the proven category w ith a grade of 12.20 g/t of gold
and 475,625 tonnes in the probable category with a grade of 11. 85 g/t of gold. The inferred
resources are 93,100 tonnes with a grade of 11.85 g/t of gold.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at
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 Persons” under the terms of Regu lation 43-101. Mr. Hinse has
approved the scientific and technical disclosure.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that incl ude risks and uncertainties. When
used in this news release, the words "estimate", "project", "an ticipate", "expect", "intend", "believe",
"hope", "may" and similar expressions, as well as "will", "shal l" 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 of the date on which they are made. Except as
may be required by law, the Corporation undertakes no obligatio n and 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 statements include changes in the prevailing price of g old, the Canadian-United States
exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect
revenue and production costs. Other factors such as uncertainti es regarding government
regulations could also affect the results. Other risks may be s et out in Abcourt’ annual and periodic
reports. The forward-looking information contained herein is ma de as of the date of this news
release.
For more information, please contact:
Renaud Hinse, President and CEO
T : 819 768-2857
F : 819 768-5475
Email: [email protected]
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Dany.Cenac-
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.