Numerous high-grade mineralized intercepts in key target zones

As recently as November, copper and gold explorer Abitibi Metals (CSE AMQ / WKN A3EWQ3) reported an increase of more than 60% in the indicated and inferred resources of its polymetallic B26 deposit. (We reported.) However, this did not yet include high-grade results of the second drill phase carried out on B26. CEO Jonathon Deluce’s company is only now announcing the successful completion of this phase and the results of the last eight drill holes!

Once again, the impressive potential of the deposit has been demonstrated, according to Mr. Deluce. Abitibi once more encountered numerous high-grade mineralized intercepts in key target zones such as the Mid-Level Zone and the Eastern Satellite targets. This not only demonstrated the continuity and expansion potential of the copper and gold mineralization, but also the occurrence of new volcanogenic stringer zones enriched in zinc and silver!

CEO Deluce highlighted an intercept from hole #355 that returned 2.24% copper equivalent (CuEq) over 20.6 meters, which included 3.2 meters of as much as 8.72% copper equivalent. Further assay results are now pending for hole 355, which is testing the up-dip extent of hole 1274-13-117. An interval of 89.5 meters averaging 2.32% copper equivalent was previously intersected there – in an area where drilling was previously limited.

Further expansion results from the Mid-Level Zone and the Eastern Satellite targets were:

– #343 – 1.65% CuEq over 7.4 meters from a depth of 640.6 meters, including 4.73% CuEq over 2.0 meters
– # 347 – 1.82 % CuEq over 12.5 meters from a depth of 514 meters, including 2.8 % CuEq over 7.85 meters
– #349 – 2.2 % CuEq over 4.0 meters from a depth of 571 meters
– #355 – 2.24% CuEq over 20.6 meters from a depth of 72.3 meters, including 8.72% CuEq over 3.2 meters

According to the company, these results have also closed gaps in the existing geological model, particularly where thinning has occurred due to insufficient drill spacing. This has expanded the resource and strengthened confidence in the continuity of mineralization.

Results of 12 further drill holes are still pending

Abitibi has completed a total of 16,400 meters spread over 24 holes in the second phase of the fully financed drilling program, which is designed to cover around 50,000 meters when extended into 2025. The company is currently awaiting the assay results from 12 drill holes with a total length of 7,577 meters. As soon as all results are available, the plans for the 2025 exploration program will be presented. This will include a third drilling phase of around 20,000 meters aimed at expanding the existing resource as well as potential new independent discoveries outside the B26 deposit.

Conclusion: There are increasing signs that Abitibi Metals is heading for another significant expansion of the B26 resources with phase two of its drill program. Even if one of the extension holes has to be re-drilled, the company is still achieving high hit rate with attractive grades. We are looking forward to the pending results and also to the company’s plans for 2025 and will of course stay tuned!

Further technical details on the drilling now reported can be found in the company’s press release.

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