Abcourt begins drilling on its Flordin property in the Lebel-sur-Quévillon area
For Immediate Release
TSX Venture Exchange: ABI. V
Abcourt begins drilling on its Flordin property in the Lebel-sur-Quévillon area
Rouyn-Noranda, Canada, November 2, 2023– Mines Abcourt Inc. (‘‘Abcourt” or the “company”)
(TSX Venture : ABI) is pleased to announce that a new drilling program is starting on its Flordin property
(100% ABI) in the Lebel-sur-Quévillon area. The drill is already in action to carry out a minimum campaign
of 1,300 metres. The objective of this campaign is to validate the lateral and depth continuity of a gold -
bearing shear zone in the eastern sector of the property that has historically returned 6.49 g/t gold over
2.1 m and 22.63 g/t gold over 3.5 m (hole FL-18-254).
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Following the compilation of data and re-verification of existing drill core, Abcourt's team confirmed that
the mineralized zone is not associated with quartz -carbonate veins but rather with a shear zone in a
basalt strongly altered in ankerite and hematit e. The mineralization consists of fine disseminated cubic
pyrite. In addition, Abcourt's team hypothesizes that the two high-grade gold zones are likely connected
and form a single mineralized zone of multi-metre-thick high-grade gold. It should also be noted that the
gold shear was intersected within 40 meters of surface.
This drilling campaign will develop new gold potential that has been undervalued in the past. It should
also be noted that the latest Mineral Resource Estimate (MRE) completed in 2023 by Innovexplo is
available on SEDAR+ for consultation. It reports a NI 43-101 compliant resource of 1,530,000 tonnes of
measured and indicated grade at a grade of 2.15 g/t gold for a total of 107,000 ounces of gold. This new
drilling campaign will potentially increase the resources of the main deposit as the newly exposed shear
zone is located in a less densely drilled area of the property.
Pascal Hamelin, President, and CEO Comments: This new drilling campaign on our Flordin property
confirms our future development vision, which is to concentrate exploration efforts within a 100 km
radius of our Sleeping Giant Mill. With the current rise in the price of gold to nearly US$2 ,000 per
ounce, we are the only junior company currently able to capitalize and deliver ounces of gold quickly.
As such, it is imperative to make the most of our many potential gold projects that can secure the
Company's future ounces of gold.
Qualified Persons
Mr. Pascal Hamelin, P.Eng., President and Chief Executive Officer of the Company, has reviewed and
approved the technical information contained in this press release.
Figure 1 – Flordin property
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with strategically located properties in
northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, where it concentrates
its development activities.
For more information about Abcourt Mines Inc., please visit our website and view our filings under
Abcourt's profile on www.sedarplus.ca.
Pascal Hamelin Dany Cenac Robert, Investor Relations
President and CEO Reseau ProMarket Inc.,
T : (819) 768-2857 T : (514) 722-2276, poste 456
Courriel : [email protected] Courriel : [email protected]
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning
of Canadian securities legislation. Generally, forward -looking information can be identified by using forward -
looking terminology, such as "p lans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could",
"should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or
results "may", "should", "will" or "be achieved" or other expressions Similar. Forward-looking statements are based
on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may
cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements or information. Forward-looking statements are subject
to business, economic and uncertainties and other factors that could cause actual results to differ materially from
these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public
filings, which are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward -looking statements and forward -
looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward -
looking statements are reasonable, undue reliance should not be placed on such statements. Except as required
by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward -
looking statements or information, whether as a result of new information, future events or otherwise.
Neither the 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.