ABE Resources acquires 170 claims and completes aero-MAG survey over Sirmac Lithium Property
ABE Resources acquires 170 claims and completes aero-MAG
survey over Sirmac Lithium Property
VAL-D'OR, QC
,
March 2, 2018
/CNW/ - ABE Resources Inc. (TSXV: ABE) (OTC: ABEPF) (the "
Company
" or "
ABE
") is pleased to
announce the acquisition of 170 claims covering over 9,250 hectares (92.5 square kilometres) adjacent to its Sirmac Lithium Property (the
"
Sirmac Property
") recently acquired from Nemaska Lithium Inc. ("
Nemaska
"). ABE acquired the 170 claims from a group of prospectors for
CDN$20,000
with no underlying royalties, obligations or share issuances.
The Sirmac Property consists of 24 mining claims (1,100 hectares). The addition of this land package will bring the total property package to 194
claims totalling 10,350 hectares. The property is well situated approximately 180 kilometres North-West of
Chibougamau
, in the province of
Québec. Two well known deposits flank the Sirmac project, the first being the Nemaska Lithium Whabouchi project boasting
37M
tonnes Li
2
O
reserves to the north and Moblan lithium project, which has
14M
tonnes Li
2
O resources to the east.
"The region of
Quebec
that we are in has produced some world class lithium deposits that have attracted significant capital and strategic
investment. This week we saw a Chinese battery maker invest
US$79M
in the Moblan project which is only 50 km to the east of us. These lithium
bearing dykes tend to come in swarms and we know the Sirmac Property is part of a swarm of dykes. Our goal is to build a significant resource
that is of similar calibre to our neighbours to the north and east," commented
Yves Rougerie
, the President and CEO of ABE.
The Company has also recently completed a 293 line-kilometre high-resolution airborne MAG survey over the Sirmac Property block. The survey
results will be interpreted and used to better define the geology of the property and pegmatite dyke occurrences in order to plan field work and
diamond drilling programs.
Mr. Rougerie added, "The Sirmac Property hosts the #5 Dyke on which
Nemaska
completed more than
$2-million
of exploration work in 2011
and 2012 consisting of 72 shallow drill holes, extensive trenching and channel sampling that led to a historical resource estimate. There are at least
twelve sparsely outcropping pegmatite dykes on the property, some of which are lithium-bearing and most of which have yet to be tested by
drilling. The 170 new claims cover over 90 square kilometres immediately east of our Sirmac Property where we believe the potential for
discovery of additional lithium-bearing dykes is excellent."
About ABE Resources Inc.
ABE Resources Inc. is a junior exploration company focused on exploring and developing high quality battery mineral assets including lithium and
copper in safe jurisdictions. The Company is led by skilled and qualified mineral exploration and business professionals with a deep understanding
of the lithium battery materials market which is driven by lithium ion batteries. ABE is committed to discovering new world class assets and bringing
these assets to production, starting with its flagship projects the Sirmac lithium property and the Dôme
Lemieux
copper property, both located in
Québec,
Canada
. Nemaska Lithium Inc. is the largest shareholder of ABE.
For further information on the Company, please visit our website at
www.aberesources.ca
or contact us at
.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES
OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE
ABE Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2018/02/c4063.html
%SEDAR: 00003760E
For further information:
please contact: ABE Resources Inc., Yves Rougerie, President and Chief Executive Officer, Tel: 819-874-6200, Email:
CO: ABE Resources Inc.
CNW 06:30e 02-MAR-18