Abitibi Metals (CSE: AMQ; OTCQB: AMQFF) is pleased with the recent drill results from its B26 copper deposit about 90 km west of Matagami, Que. The system has been successfully extended up-dip, closer to the surface. The bulk tonnage open pit potential is confirmed to have a high-grade core. The copper potential of the Satellite West zone, 500 metres west of the main deposit, was also confirmed.
These are the highlights the company reported:
- Hole 297: 0.70% copper equivalent over 32.5 metres beginning 52.3 metres along the hole.
- Hole 299: 1.04% copper equivalent over 10.4 metres beginning at 33 metres along the hole.
- Hole 300: 5.35% copper equivalent over 8.1 metres beginning at 251 metres along the hole.
- Hole 301: 1.47% copper equivalent over 97.5 metres beginning at 30.5 metres along the hole, including 3.9% copper equivalent over 21.8 metres.
- Hole 335: 1.05% copper equivalent over 8.6 metres beginning at 125.4 metres along the hole.
By the end of the 2024 field season, Abitibi anticipates it will have drilled 30,000 metres.
An NI-41-101-compliant resource estimate was made in 2018 with an indicated resource of 7.0 million tonnes grading 1.3% copper (containing 203.3 million lb.) and 0.60 g/t gold (134,000 oz.) The inferred resource was 4.4 million tonnes at 2.03% copper (197.1 million lb.) and 1.07 g/t gold (152,000 oz.)
Last November, Abitibi became the first public company to enter into an option agreement to earn an 80% interest over seven years in the B26 deposit. The option was granted by SOQUEM.
Abitibi believes there is expansion potential at B26 and that it could become a district-scale opportunity.
More details are posted on www.AbitibiMetals.com.
