IN May 2020, 10,010 Tonnes of GOLD Mineralization Were Broken at the Elder MINE, the Best Result FOR the 12-MONTH Period
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FOR IMMEDIATE RELEASE
TSX Venture – ABI.V
July 31, 2020
IN MAY 2020, 10,010 TONNES OF GOLD MINERALIZATION WERE BROKEN
AT THE ELDER MINE, THE BEST RESULT FOR THE 12-MONTH PERIOD
ENDED ON JUNE 30, 2020
_________________________________________________________________
Rouyn-Noranda, Québec, Canada, July 31, 2020
Abcourt Mines Inc. (TSX -V: ABI, Berlin: AML -BE and Frankfurt Stock Exchanges: AML -FF)
(“Abcourt” or the “Mines Abcourt inc.), is pleased to announce that after a temporary closure of almost
one month due to Covid-19, mining operations at the Elder mine were re -started successfully. The
necessary s anitary measures and distancing were respected, as requested by Quebec Health. When
distancing is not possible, for example in the cage, masks are used. No Covid-19 cases were reported by
our employees.
After their return to work, the Elder miners managed to break 10,010 tonnes of gold mineralization in May,
the best result for the 12-month period ended on June 30, 2020.
Also, during the shut down, some repairs were done to the skips and to the ore and waste bins. This was
done to avoid a temporary shut down in the future.
Drift development on the 4th and 10th levels at Elder is progressing normally and should provide access to
good gold mineralization in about 1 month.
STRATEGY AND OUTLOOK
Currently, the Company is focussing on gold. At the Elder mine, our objective is to produce 12,500 tonnes
per month of gold mineralization.
We wish to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should
reduce the operating cost per tonne treated.
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For the long -term, in the gold sector, the Company is planning a drilling program at the Sleeping Giant
gold property where substantial unexplored gold mineralization is found.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located
properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is
currently focusing on the exploitation of the Elder mine.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half -way between Amos and
Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The
mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate and feasibility study with
reserves were recently completed. Proven mineral resources total 10,900 tonnes with a grade of 12.20
g/t of gold and probable reserves total 475,625 tonnes with a grade of 11.85 g/t of gold. Inferred resources
are in 93,100 tonnes with a grade of 11.85 g/t of gold.
The Abcourt-Barvue property has silver–zinc reserves (2019). A feasibility study was completed in 2007
by Roche / Genivar. An update was completed in January 2019. A total of 8.07M tonnes are in proven
and probable reserves with a grade of 51.79 g/t of si lver and 2.83% zinc. About 81.6% of these reserves
are mineable by open pit and 18.4% are mineable by underground operations. Inferred resources total
2.07M tonnes with a grade of 114.16 g/t of silver and 2.89% zinc.
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 and President of Abcourt Mines Inc. Mr.
Hinse is a “Qualified Persons” under the terms of Regulation 43-101. Mr. Hinse has approved the scientific
and technical disclosure.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that include risks and uncertainties. When used in
this news release, the words "estimate", "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 of the date on which they are made. Except as may be required by law, the Corporation
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undertakes no obligation 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 materially from those indicated in such forward-looking
statements include changes in the prevailing price of gold, 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 uncertainties regarding government regulations could also affect
the results. Other risks may be set out in Abcourt’ annual and periodic 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]
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
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.