Abcourt’S Directors Have Approved TWO-Million (2) Dollars Exploration Program at Depth at the Elder MINE _____________________________________________________________
FOR IMMEDIATE RELEASE
TSX Venture – ABI.V
August 22, 2019
ABCOURT’S DIRECTORS HAVE APPROVED TWO-MILLION (2)
DOLLARS EXPLORATION PROGRAM AT DEPTH AT THE ELDER MINE
_____________________________________________________________
Rouyn-Noranda, Quebec, Canada, August 22, 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 2M$ exploration project at depth at the Elder mine.T he main objective is to open level
16 and to explore the junction of various veins with the Silido r and Smoky Creek faults as shown
on the Quebec Geoscientific compilation map 32 D/3 – 403 and 40 4, four mines were exploited in
these faults, as follows:
In the Silidor fault, a mine with the same name produced 3M ton nes with a grade of 5.0 g/t of
gold.
In the Smoky Creek fault, three orebodies were exploited, as follows:
New Senator mine, 1.7 M tonnes at 4.7 g/t of gold;
Eldrich mine, 1.0 M tonnes at 5.3 g/t of gold;
Stadacona mine, 2.8 M tonnes at 5.25 g/t of gold.
These two faults are promising exploration targets where new ve ins may be found in any direction.
To start, some drilling will be done in vein 7 from drifts on levels 5 an 6.
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-
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.