Conclude Phase II Drill Program with Strong Results
Head Office: 1231 Huron Street, London, Ontario, N5Y 4L1
Abitibi Metals Concludes Phase II Drill Program with Strong Results: 8.08% CuEq Over 2.9 Metres
Within 1.94% CuEq Over 29 Metres at B26 Deposit
Highlights:
● Expansional results from key target areas at the B26 Deposit:
o Hole 1274-24-359 – Over 32 metres of more than 2% CuEq across multiple intervals including:
▪ 2.0% CuEq over 16.5 metres, beginning at 326m depth,
▪ 3.3% CuEq over 6.85 metres, beginning at 381.15m depth, and
▪ 2.14% CuEq over 7.2 metres, beginning at 476.4m
o Hole 1274-24-360 – 1.94% CuEq over 29 metres beginning at 262 metres depth, including 8.08%
CuEq over 2.9 metres beginning at 287 metres.
o Hole 1274 -24-362 – 1.42% CuEq over 33.5 metres beginning at 262 metres depth, including
2.32% CuEq over 4.0 metres.
o Strong Gold Credit – 8.4 g/t Au over 1.2 metres and 3.1 g/t Au over 1.75 metres in holes #362
and #359, respectively.
o B26 Growth Potential – Hole #359 hit high-grade mineralization (444 –518.4m) beyond the
current block model (see figure 4), while holes 360–362 intersected >2% CuEq in areas modeled
at 1–1.5% CuEq, based on wide 50-100m drill spacing.
o "The consistency and grade of the mineralized zones intersected in Phase II, particularly in
underexplored gaps and beyond the current block model, are highly encouraging," said Jonathon
Deluce, CEO of Abitibi Metals. "Intercepts such as 8.08% CuEq over 2.9 metres within 1.94%
CuEq over 29 metres reinforce the strength of the deposit and the potential for both resource
expansion and grade enhancement. As we prepare to launch our Phase III program this month,
these results validate our exploration model and continue to support B26 as a compelling base
metal asset."
March 19, 202 5 / London, Ontario – Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (FSE:FW0)
(“Abitibi” or the “Company”) is pleased to announce it has received remaining balance of assays from its Phase
II drill program at the B26 Polymetallic Deposit (“B26”, the “Project” or the “Deposit”) from 5 additional holes
(2,135 metres) that are reported below. On November 16th, 2023, the Company entered into an option agreement
on the B26 Polymetallic Deposit to earn 80% over 7 years from SOQUEM Inc. (“SOQUEM”), a subsidiary of
Investissement Québec (see news release dated November 16, 2023).
Holes 1274-24-359, 1274-24-360, 1274-24-361, and 1274-24-362 have delivered promising results that further
confirm the expansion potential of mineralization within the recently released resource model of 11.3MT @
2.13% Cu Eq (Ind) & 7.2MT @ 2.21% Cu Eq (Inf). The drill holes within this release were strategically designed
to test for high -grade lenses in previously underexplored gaps within the resource model. Notable intercepts
include 2.02% CuEq over 16.5 meters in hole #359 and 1.42% CuEq over 33.5 meters in hole #362. Out of the
holes drilled and included in this release, 5 out of 5 yielded results with copper equivalent grades exceeding 2%
over core lengths of 0.5 to 16.5 meters (see figure 1 & 2).
With all Phase II assay results now reported, the Company plans to announce its 2025 exploration program in
the coming weeks. This will include a fully funded Phase III drilling campaign of about 17,000 meters, aimed
at expanding resources, further defining hi gh-grade lenses within the main B26 Deposit , and advancing other
standalone high-priority exploration targets across the entire B26 Property totalling 3,328-hectares.
Drilling Summary:
The main goal of drill holes 1274-24-359, 1274-24-360, 1274-24-361 and 1274 -24-362 was to extend higher -
grade mineralization and define higher grade lenses in the upper section of the Mid -Range Depth Target as well
as evaluate the potential for elevated grades within untested gaps in the drill coverage. Overall, results indicate
there is a strong potential to further expand the overall tonnage of the B26 deposit and improve its grade profile,
which ranks among the highest compared to similar North American polymetallic deposits. The four holes drilled
encountered polymetallic mineralization exceeding 2% CuEq over more than 5 meters (not including 1274 -13-
117EXT). The distribution of sulfides indicates a stacking of one to four lenses intersected over a length of 5 to
29 metres. This information will be integrated into the current model to delineate lenses at a greater level than the
current 1 to 1.5% CuEq grades while reducing the spacing from 100 to 200 metres down to 50 metres.
Hole 1274-24-359 was drilled to a depth of 553.4 metres and intersected multiple high-grade intercepts (highlights
in Table 1) hosted within a sequence of sericite -altered tuff. Sulfide concentration s vary continuously inside
envelopes that are 150 metres wide (see figure 3). These results further confirmed the VMS related mineralization
style at the northeastern part of the B26 deposit. Standout results include 3.86% CuEq over 7.05 metres, beginning
at 330.8 metres highlight strong mineralization at the upper levels of the deposit and higher-grade lenses in areas
previously drilled with wide spacing. Elevated gold grades of 3.1 g/t Au over 1.75m were associated with 5%
pyrite, 2-3% fine grade sphalerite and 2% chalcopyrite.
Hole 1274-24-360 emphasizes strong Zn -Ag VMS mineralization at shallow depth at the hangingwall of B26.
Highlight results include 4.0 % Zn, 67.4 Ag and 0.1% Cu over 29 metres, for a CuEq grade of 1.9% CuEq, starting
at 262 metres depth. The mineralization takes the form of concordant and discordant semi -massive pyrite -
sphalerite sub-concordant bands and discordant stringers. A sulfide rich core is composed of 35% sphalerite, 20%
chalcopyrite, and 10% pyrite . Another highlight interval associated within this zone was 8.08% CuEq over 2.9
metres, starting at 287 metres depth.
Hole 1274-24-361 was drilled to a depth of 516 metres and planned to crosscut the up -dip projection of the
hanging wall VMS mineralization. At depth, the hole was planned to explore the extension of copper bearing
stockwork mineralization at the margin of the current block model. Isolated highlights include 2.34% CuEq over
0.65 metres beginning at 390.75 metres depth. The rocks within this target area exhibit moderate to strong
chloritization, with intervals of moderate sericitization and contain quartz veins that are comprised of upwards of
2% chalcopyrite and 2% pyrite.
Hole 1274-24-362 was drilled to explore for extensions 50 metres beneath the significant mineralization found
in holes 1274-24-393 and 1274-24-394. Highlight intervals include 1.42% CuEq over 33.5 metres beginning at
262 metres depth, including 7.10% CuEq over 1.2 metres. Moderate to strong sericite and chlorite alteration is
present in both matrix and the breccias with 1-2% quartz and quartz-chlorite-carbonate veins. Strong gold
grades of 8.35 g/t Au over 1.2 metres were associated with these veins at a depth of 262.2 metres.
Hole #117 EXT was an extension of hole 1274 -13-117 that was drilled along strike at the eastern side of the
deposit, and east of north -south trending mafic dykes and chalcopyrite stringer mineralization that is slightly
displaced to the north-east by north-trending fractures and faults. As part of the upcoming Phase III drill program,
perpendicular drilling will be conducted in that section to more accurately determine the local true thickness of
the deposit and target eastern extensions of known mineralization. Highlight results include 1.26% CuEq over 3.0
metres, beginning at 412m depth.
Figure 1: Phase II Drillholes with the Location of Significant Results
Figure 2: Plan Map
Figure 3: Drill Hole 1274-24-359 – Mineralized intervals from 330.8m to 337.85m depth @ 3.86 CuEq
Figure 4: Cross Section – 1274-24-359, 361
Table 1: Significant Intercepts
Hole ID From (m) To (m) Length
(m) CuEq (%) Cu (%) Au (g/t) Ag (g/t) Zn (%)
1274-24-359 326 342.5 16.5 2.02 0.15 0.01 77.1 4.0
incl 330.8 337.85 7.05 3.86 0.26 0.02 149.4 7.8
and 381.15 388 6.85 3.30 2.65 1.01 13.8 0.1
incl 381.15 385.9 4.75 4.63 3.72 1.42 19.0 0.1
and 402.6 422 19.4 0.82 0.60 0.34 3.3 0.0
incl 402.6 404.35 1.75 3.01 1.15 3.10 7.6 0.0
and 454.55 456.6 2.05 1.96 1.90 0.11 3.7 0.0
and 476.4 483.6 7.2 2.14 2.12 0.05 6.2 0.0
incl 480.5 481.5 1 13.32 13.25 0.17 33.3 0.1
1274-24-360 239.2 241.25 2.05 0.80 0.00 0.00 40.2 1.6
and 246.85 248 1.15 1.77 0.00 0.02 197.0 2.0
and 252 256 4 0.64 0.01 0.02 75.5 0.6
and 262 291 29 1.94 0.12 0.04 67.4 4.0
incl 276 278.5 2.5 4.89 0.21 0.06 56.4 12.1
incl 287 289.9 2.9 8.08 0.84 0.04 187.2 17.3
and 333 335 2 1.83 1.58 0.40 6.4 0.0
and 357 357.5 0.5 6.25 5.87 0.54 14.1 0.3
and 383 385 2 1.12 1.02 0.15 2.8 0.0
1274-24-361 169.75 170.85 1.1 1.59 0.00 0.06 265.3 0.4
and 277.75 292.95 15.2 0.89 0.01 0.04 21.1 2.1
and 342.4 342.9 0.5 2.31 2.18 0.14 12.5 0.0
and 351 352 1 2.56 0.21 3.90 3.9 0.1
and 390.75 391.4 0.65 2.34 2.06 0.48 4.6 0.0
1274-24-362 262 295.5 33.5 1.42 1.15 0.44 2.5 0.0
incl 262.8 264 1.2 7.10 2.17 8.35 4.0 0.0
incl 268 272 4 2.03 1.83 0.36 3.4 0.0
incl 280 284 4 2.32 2.13 0.29 3.9 0.1
1274-13-117EXT 412 415 3 1.26 1.20 0.08 4.7 0.0
incl 414 415 1 2.77 2.70 0.09 10.1 0.0
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates
core length corresponding generally to 70 to 80% of the mineralized lens' true width (holes 359, 360, 361, and 362).
Note 2: Copper equivalent values calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/ounce Ag and $1,800/ounce Au.
Recovery factors were applied according to SGS CACGS -P2017-047 metallurgical test: 98.3% for copper, 90.0% for gold, 96.1% for
zinc, 72.1% for silver.
Note 3: Intervals were determined using a 0.5% CuEq cut -off grade, allowing for up to 20% dilution with material below the cut -off
grade.
Table 2: Drill Hole Information
Drill hole number UTM East UTM North Elevation Azimuth Dip
Length (m)
Drilled
1274-24-359 652999 5513179 274 350 -65 553
1274-24-360 653098 5513184 272 348 -59 570
1274-24-361 652949.2 5513182 276 9 -58 516
1274-24-362 652952 5513280 277 352 -51 321
1274-13-117EXT 653303 5513401 268 90 -55 534
Note 1: Numbers have been rounded to the nearest whole number in the table above.
QAQC
The core logging program was run by Explo-Logik in Val d’Or, Quebec. The drill core was split with half sent
to AGAT Laboratories Ltd. and prepared in Val d’Or, Q uebec. All samples are processed by fire assays on 50
gr with atomic absorption finish and by “four acids digestion” with ICP-OES finish, respectively, for gold and
base metals. Samples returning a gold grade above 3 g/t are reprocessed by metallic screening with a cut at 106
µm. Material treated is split and assayed by fire assay with ICP -OES finish to extinction. A separate split is
taken to assay separately mineralized intervals with target grades above 0.5% Cu using Na 2O2 fusion and ICP-
OES or ICP-MS finish. Samples preparation duplicates, varied standards, and blanks are inserted into the sample
stream.
In the 2018 resource estimate, SGS recommended the QAQC protocol to explain the replicability for the four
metals (Au -Cu-Ag-Zn). The Company has set up for this program a series of assaying protocols with the
objective to control QAQC issues from the beginning of the project. As a result, samples are crushed finer with
95% of particles passing 1.7 mm and a large split of 1 kg is pulverized down to 106 µm (150 mesh). Other
measures put in place include the automatic re-assaying of gold results above 3 g/t by metallic screening and the
use of sodium peroxide fusion in mineralized intervals corresponding to a target grade above 0.5% Cu.
Qualified Person
Information contained in this press release was reviewed and approved by Martin Demers, P.Geo., OGQ No. 770,
a qualified person as defined under National Instrument 43 -101, and responsible for the technical information
provided in this news release.
About Abitibi Metals Corp:
Abitibi Metals Corp. is a Quebec -focused mineral acquisition and exploration company focused on the
development of quality base and precious metal properties that are drill -ready with high-upside and expansion
potential. Abitibi’s portfolio of strategic pr operties provides target-rich diversification and includes the option
to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13%
Cu Eq (Ind) & 7.2MT @ 2.21% Cu Eq (Inf), and the Beschefer Gold Project, where historical drilling has
identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57
metres and 13.07 g/t gold over 8.75 metres amongst four modeled zones.
About SOQUEM:
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and
development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies.
Proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation,
research and strategic minerals to be well-positioned for the future.
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
For more information, please call 226 -271-5170, email [email protected], or visit
https://www.abitibimetals.com.
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general public informed and encourages shareholders and interested parties to follow and engage with the
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announcements:
Twitter: https://twitter.com/AbitibiMetals
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statement:
This news release contains certain statements, which may constitute “forward-looking information” within the meaning of applicable securities laws.
Forward-looking information involves statements that are not based on historical information but rather relate to future opera tions, strategies,
financial results or other developments on the B26 Project or otherwise. Forward -looking information is necessarily based upon estimates and
assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond
the Company’s control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect
actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company’s
behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to di ffer materially from those
described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estim ated
or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi ’s forward -looking information.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “estimates,” “anticipates,” or
variations of such words and phrases (including negative and grammatical va riations) or statements that certain actions, events or results “may,”
“could,” “might” or “occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent
risks, which may result in the inabilit y of the Company to successfully develop current or proposed projects for commercial, technical, political,
regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing t o any of the foregoing
reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production a nd the likelihood of
success must be considered in light of the stage of operations.