Abcourt Presents Results Update of the Underground Diamond Drilling Campaign at Sleeping Giant Mine
For Immediate Release
TSX Venture Exchange: ABI. V
Abcourt Presents Results Update of the Underground Diamond Drilling Campaign at
Sleeping Giant Mine
Rouyn-Noranda, Canada, July 9, 2024 – Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF ) is pleased to present an
update on the results of the underground diamond drilling campaign at Sleeping Giant
mine.
From December 2023 until June 30, 2024, Abcourt has carried out, from levels 235 and
295, 27 drilling holes totaling 3,074 meters in the DAC 5 area.
Among these 27 holes, 20 holes totaling 2,457 meters were drilled in the DAC 5 area.
Abcourt presents the results of 13 drill holes totaling 1,554 meters drilled underground
in the DAC 5 area from level 235.
The highlights of the analysis results, included in this press release, are as follows:
• 19.41 g/t Au over 0.5 meter in hole 23-473,
• 14.72 g/t Au over 0.6 meter in hole 23-483,
• 8.73 g/t Au over 2.1 meters and 19.93 g/t Au over 0.5 meter in hole 23-484.
The main results of holes drilled from level 235 are displayed in table 1.
Table 1: Main Underground Drilling Results from the DAC 5 Site
Drill Hole From To Interval Au Vein (m) (m) (m) (g/t)
23-472 107.50 108.00 0.50 15.01 Vein 2 - West Extension
23-473 81.00 81.50 0.50 19.41 Vein 1 HW - Top of the Stope
23-474 101.20 101.70 0.50 7.06 Vein 2 - West Extension- Top of the Stope
and 111.00 112.00 1.00 6.59 Vein 3 - West Extension- Top of the Stope
23-475 105.25 106.10 0.85 9.39 Vein 2 - West Extension- Top of the Stope
23-476 No significant results Top of the Stope
23-477 48.50 49.50 1.00 10.51 Vein 4
23-478 No significant results Vein 4
23-479 No significant results West Extension- Top of the Stope
23-480 No significant results West Extension- Top of the Stope
23-481 80.5 81.00 0.50 8.97 Vein 1- HW
23-482 No significant results Central Part - Top of the Stope
23-483 123.50 124.10 0.60 14.72 Vein 3 - West Extension
23-484 111.90 114 2.10 8.73 Vein 2 - West Extension
Including 113.00 114.00 1.00 11.13
and 121.00 121.50 0.50 19.93 Vein 3 - West Extension
Notes:
1. The length represents the length measured along the drill core.
2. Assay results are not capped, but higher-grade sub-intervals are highlighted.
The main results of the holes drilled from the 235 level are shown in plan view (Figure 1)
and longitudinal section (figure 2).
Figure 1: DAC 5 Area, Level 235 and Sub-level 2, Plan View.
Figure 2: DAC 5 Area, Longitudinal Section.
Drilling data shows:
• The extension of the mineralized veins towards the west of the DAC 5 site
confirming the intercepts of holes 29-266, 23-460 and 23-461.
• The extension of the mineralized veins towards the top of the DAC 5 site
confirming the intercepts of holes 23-433, 23-415 and 23-468.
• The presence of several steeply dipping mineralized veins (70°) spaced about
ten (10) meters from each other and which tend to become subparallel in a
WNW-ESE direction towards the western part of the DAC 5 area. Some of its
veins have were observed and mapped at sub-level 2 of the DAC 5 site (figure
3).
Figure 3: Mapping of the DAC 5 Site Sub-level 2 (SN-2).
Figure 4 shows an example of the veins intercepted by our drill holes.
Figure 4: Picture of Cores from Hole 23-484.
The drilling campaign in the DAC 5 site area is completed. The technical team at the
Sleeping Giant mine is currently working on the interpretation and three-dimensional
modeling of the veins for optimization of the mining plan.
Drilling operations continue underground at the 235 level in Zone 20 West.
Pascal Hamelin, President and CEO of the Corporation comments: “ Thanks to
these drillings, we are able to better understand our stopes, avoid unnecessary costs
and maximize the recovery of gold resources. The first stope identified by the current
campaign will be able to begin extracting ore in the coming weeks. Subsequently, we
will continue with definition drilling for all our future stopes with the aim of converting the
inferred resources into indicated to ensure the maximum return on all our investments
in time and money. This working technique will also help us improve our mineral
resource growth potential.”
Quality Control Measures (QA/QC)
The drilling and core description work was carried out under the supervision of
Mohamed Haithem Bennia, geo, chief geologist, qualified person according to
Regulation 43-101.
Following an analytical quality assurance and control program, blank samples and
certified reference materials as well as duplicates were added among the core samples
before being analyzed at the Sleeping Giant mine's internal laboratory.
The analyzes were carried out by pyroanalysis (A.A.) with atomic absorption finishing.
Samples with a grade greater than 10g/t Au were reanalyzed with a gravimetric finish.
To validate the quality of analysis of the internal laboratory, reanalyses were produced
by Techni-Lab S.G.B. Abitibi inc. division of ActLabs which is an accredited external
laboratory, registered to ISO 9001 and ISO/IEC 17025 certified CCN (lab707), MELCC
(lab375) located in Sainte-Germaine-Boulé, Quebec.
The audits show a high degree of correlation with internal laboratory results.
Qualified Persons
Mr. Mohamed Haithem Bennia, geo, chief geologist of the Sleeping Giant mine, wrote,
collected, verified and approved the technical information contained in this press
release.
Mr. Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has
verified and approved the technical information contained in this press release.
Mr. Hamelin and Mr. Bennia are qualified persons under Regulation NI 43-101.
About Abcourt Mines Inc.
Mines Abcourt Inc. is a Canadian gold exploration company with properties
strategically located in northwestern Quebec, Canada. Abcourt owns the 100%-owned
Sleeping Giant factory and mine, where it concentrates its activities. The Sleeping
Giant mine has a mining lease as well as environmental certificates of authorization to
extract up to 750 tonnes per day from its underground mine.
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 Chief Executive Officer Reseau ProMarket Inc.,
T : (819) 768-2857 T : (514) 722-2276, ext. : 456
Email : [email protected] Email : [email protected]
FORWARD-LOOKING STATEMENTS
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the meaning of Canadian securities legislation. Generally, forward-looking information can be identified
by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends",
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expressions Similar. Forward-looking statements are based on Abcourt's estimates and are subject to
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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.
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defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.