Growth potential demonstrated
Abitibi Metals (WKN A3EWQ3 / CSE AMQ) is following up seamlessly on the recent drilling successes at the B26 copper project. As the company has now announced, drilling to extend the known mineralization has, encountered high-grade intersections, too!
According to the company, highlights included 1.78% copper equivalent over a wide interval of 57.2 meters from 235.80 meters depth. This intercept also contained an interval of 3.1% copper over 13.05 meters.
In addition, there are another 28.45 meters with 1.89% copper equivalent from 133.4 meters depth in hole #323, 5.25 meters of which even show 6.5% copper equivalent!
Most encouragingly, hole #320 was part of a series of holes drilled in a fan pattern to extend the eastern boundary of the deposit. And indeed, this hole extended the deposit boundary by 75 meters from the historic drilling!
No wonder CEO Jonathon Deluce is delighted. He explained: “High-grade assets like the B26 project in Quebec, located in a world-class region, represent an exceptional opportunity. We are very pleased with today’s news of successful expansion drilling, which demonstrates the growth potential of this exciting copper/gold project.”
Conclusion: Abitibi has thus achieved its goal and not only closed data gaps in the eastern extension of B26 as previously reported, but has now extended the deposit once again and shown that it still remains open to the east! The company’s drilling continues to produce results that support the thesis that the current program will expand the historic resources both above and below ground. As a result, Abitibi has now identified targets to in the west and east of B26 to build on in the second phase of the drill program in addition to the targets at depth. And to the west Abitibi had stepped out for 500 meters… As the company remains well funded with $17.5 million in cash to complete the remaining 16,500 meters of drilling planned for 2024 and a further 20,000 meters of drilling next year, there should be plenty of news flowing up until the PEA (Preliminary Economic Assessment), which is also planned for 2025!
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