Abacus identifies two large alteration systems at Willow Porphyry Copper-Gold Property in Nevada
Abacus identifies two large alteration systems at
Willow Porphyry Copper-Gold Property in Nevada
Vancouver, BC – October 30, 2017. Abacus Mining & Exploration Corporation (“Abacus” or the
“Company”) (TSXV: AME) is pleased to provide an update of exploration activities on the Willow
porphyry copper-gold property located 65 km southeast of Reno, near Yerington, Nevada (the
“Property”). The Property is considered prospective for porphyry copper, porphyry copper-moly
and epithermal gold-silver. The Willow property is subject to an option agreement with Almadex
Minerals Limited and its wholly -owned Nevada subsidiary, Almadex America Inc. ("Almadex"),
wherein Abacus has the right to earn up to a 75% undivided ownership interest in the Property
(see News Release dated February 15, 2017).
The results of the program received to date are encouraging and provide a good basis for the
emergence of porphyry copper targets for drill testing which is planned for the spring of 2018.
The geological mapping has identified two very large, funnel -shaped alteration systems. The
northern system covers an area of approximately 1.5 km north-south by 2.0 km northwest-
southeast, while the southern zone is 2.5 km north-south by 2.5-3.0 km east-west.
Mapping within both alteration zones has identified rocks displaying classic porphyry copper
alteration, including sericitic , advanced argillic, and some potassic alteration. Both areas also
contain granite porphyry dyke swarms, similar to those that host or ebodies in the district such
as the Yerington and Ann Mason deposits.
“The presence of strong alteration systems, as well as numerous dykes is characteristic of many
porphyry systems, including those in the Yerington district,” commented Mike McInnis, Abacus’
President and CEO. “The size of these alteration systems is very encouraging as well, and
presently our efforts are focused on vectoring to target areas for drilling.”
Of note, the southern alteration zone appears to have a larger number of these dykes, some of
which are visible on surface. Many of the dykes were identified by logging historic drill core and
were not evident during the mapping campaign. Historic drill logs and core have not yet been
located for holes drilled into the northern alteration zone, consequently, the interpretation of this
zone relies heavily on geological mapping and limited published geology.
Since signing the option agreement, Abacus has expanded the soil geochemistry and ground
IP geophysics completed by Almadex, conducted detailed mapping and ground magnetics over
the entire property, in addition to compiling the historic data and logging of historic drill core.
Results from the soil geochemistry and ground geophysical programs which were initiated in
August are being received. Preliminary IP results, which generally delineate zones of strong
sulphide mineralization, demonstrate moderate IP responses over the northern alteration zone,
with a stronger anomaly over parts of the southern zone. The preliminary magnetics indicate
generally higher magnetics over the northern alteration zone, with both high and low magnetics
over the southern zone. The low magnetics is thought to represent zones of magnetite
destruction and intense alteration, characteristic of the “exhaust chute” of a porphyry copper
system.
Suite 1000-1050 West Pender Street
Vancouver, B.C. V6E 3S7 Canada
Tel: 604.682.0301 Fax: 604.682.0307
email: [email protected]
website: www.amemining.com
A short field program designed to collect additional rock samples and selectively sample historic
drill core is slated to commence in early November 2017. This program is primarily intended to
provide samples for spectrometer analysis to identify trace alteration minerals present. These
can then be compared with known porphyry copper models for purposes of narrow ing down
targets within the two very large alteration zones for drilling. The merging of the new and old
geophysics and geochemistry will be performed and integrated with other data.
The technical information in this news release has been reviewed and approved by Paul G.
Anderson, M.Sc., P.Geo., a Qualified Person within the meaning of National Instrument 43-101.
For further information, please contact Investor Relations at (604) 682-0301.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Michael McInnis
Chairman, President & CEO
About Abacus
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax
Project located at the historic Ajax -Afton site southwest of Kaml oops, B.C., and an option to
acquire up to a 75% undivided interest in the Willow porphyry copper-gold property located in
Nevada. The Willow Project is located in a district that hosts a number of porphyry copper
deposits including the Ann Mason and Yerin gton deposits. The Ajax Project is a proposed
copper-gold open-pit mine currently undergoing a provincial and federal environmental
assessment process. Through KGHM Ajax Mining Inc., a joint venture company between
Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the Ajax Mine is being funded in
large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd. For
the latest reports and information on Abacus’ projects, please refer to the Company’s website
at www.amemining.com.
Forward-Looking Information
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results or developments may differ materially from those projected in the forward-looking statements. Forward-
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update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.
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