Highlights:
Expansion Results from Mid-Level and Eastern Satellite Targets:
#343 – 1.65% CuEq over 7.4 meters from 640.6 meters depth, 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
#Nr. 349 – 2.2% CuEq over 4.0 meters, starting at a depth of 571 meters
#355 – 2.24% CuEq over 20.6 meters, starting at 72.3 meters depth, including 8.72% CuEq over 3.2 meters
Jonathon Deluce, CEO of Abitibi Metals, commented: “The Phase II drill results at B26 continue to demonstrate the impressive potential of this polymetallic deposit with multiple high-grade intersections in key target zones, including the Mid-Level and Eastern Satellite targets. These results have closed gaps in the current geological model, particularly where thinning had occurred due to insufficient drill spacing, expanding the resource and strengthening confidence in the continuity of mineralization. We look forward to receiving the remaining results from drill hole 355, which tested the up-dip extension of hole 1274-13-117, where a previous intersection of 2.32% Cu-Eq. over 89.5 meters was reported in an area of limited drilling.”
LONDON, ON, Jan. 30, 2025 /CNW/ – Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) (“Abitibi” or the “Company”) is pleased to announce that it has successfully completed its Phase II drilling program at the B26 Polymetallic Deposit (“B26”, the “Project”, or the “Deposit”) and has received results from 8 drill holes (6,016 meters) reported herein. On November 16, 2023, the Company entered into an option agreement for the B26 Polymetallic Deposit to earn 80% over a seven-year period from SOQUEM Inc. (“SOQUEM”), a subsidiary of Investissement Québec (see press release dated November 16, 2023).
Jonathon Deluce, CEO of Abitibi Metals, said: “The Phase II drill results at B26 continue to demonstrate the impressive potential of this polymetallic deposit with multiple high-grade intersections in key target zones, including the Mid-Level and Eastern Satellite targets. These results highlight both the continuity and expansion potential of the copper-gold mineralization as well as the presence of new volcanogenic stringer zones enriched with zinc and silver. Notable intersections (#355) such as 2.24% CuEq over 20.6 meters, including 8.72% CuEq over 3.2 meters, underscore the strength of the system. We look forward to the remaining results from drill hole #355, which tested the up-dip extension of hole 1274-13-117, where a previous intersection of 2.32% CuEq over 89.5 meters was reported in an area of limited drilling.
These results have closed gaps in the current geological model, particularly where thinning had occurred due to insufficient drill spacing, expanding the resource and strengthening confidence in the continuity of mineralization.”
Drilling Summary:
As part of the second phase of the fully funded 50,000-meter drill program for 2024-2025, a total of 16,400 meters in 24 holes have been completed. The Company is currently awaiting results from 12 holes over 7,577 meters. Once all assay results are received, the Company plans to announce its 2025 exploration program, which will include a fully funded Phase III drill campaign of approximately 20,000 meters aimed at resource expansion and potential new stand-alone discoveries outside the main B26 deposit within the 3,328-hectare land package.
Seven out of eight drill holes returned results with copper equivalent grades exceeding 1% over core lengths ranging from 2 to 20 meters. Results from the Mid-Level target range from 1% CuEq to 2.8% CuEq over lengths of 4 to 12.5 meters. These drill holes targeted expansions of the block model at vertical depths from 325 to 650 meters and extend laterally for about 400 meters.
In the eastern satellite target, hole 1274-24-355 intersected 8.72% CuEq over 3.2 meters within a larger interval of 2.24% CuEq over 20.6 meters, starting at a depth of 73.3 meters. Chalcopyrite stringers were intersected about 20 meters above hole 1274-13-117 along the strike of the inferred mineralization. The company has only received 30% of the results from this hole to date and will report the complete results upon receipt.
Table 1: Result Highlights
| DDH | Interval | Results | Length | Vertical Depth | Area |
| 1274-24-343 | 640.6-648m | 1.65% CuEq | 7.4m | -600m | B26 Middle Level |
| Including | 646-648m | 4.73% CuEq | 2.0m | -605m | B26 Middle Level |
| 1274-24-347 | 514.0-526.5m | 1.82% CuEq | 12.5m | -445m | B26 Middle Level |
| Including | 514.85-522.7m | 2.8% CuEq | 7.85m | -443m | B26 Middle Level |
| 1274-24-349 | 571-575m | 2.2% CuEq | 4.0m | -530m | B26 Middle Level |
| 1274-24-355 | 73.3-93.9m | 2.24% CuEq | 20.6m | -70m | East Satellite |
| Including | 73.3-76.5m | 8.72% CuEq | 3.2m | -65m | East Satellite |
| Note: True width is estimated at 80% of the drilled intersection for holes 1273-24-343, 347, 349. True width for hole 1274-24-355 is undefined; modeled width could range between 10 and 15 meters. Partial results only are available for drill hole 1274-24-355. |
B26 Mid-Size Target
A new volcanogenic hanging wall zone was observed in drill holes 1274-24-343, 344, and 345, showing substantial zinc and silver grades within a thick siliceous replacement zone. The new VMS-related hydrothermal environment is located about 150 meters west of the main zinc-silver lens. The vertical continuity of the copper-gold resources was also demonstrated further down the hole.
Drill holes 1274-24-346, 347, and 349 were drilled in the eastern part of B26. In this area, the company is further refining the model, which includes the continuity of quartz-chalcopyrite stockwork mineralization that incorporates the displacement of local faults. The three holes intersected the VMS-related mineralization to reach the copper-gold veins, covering a lateral extension of 75 meters at a vertical depth of 500 meters. The main copper-gold strand was also extended and connected between vertical depths of -50 to -700 meters.
Eastern Satellite Target:
Hole 1274-24-355 was drilled to follow up on hole 1274-13-117 along strike on the east side of the deposit and east of a north-south trending mafic dike. At this location, about 50 meters east of the known B26 deposit, the chalcopyrite stringer mineralization is slightly offset to the northeast by north-trending faults and fractures. Drilling was conducted longitudinally to the known mineralization to avoid watercourses and test targets closer to the surface. Down-dip drilling in Phase III will be conducted from drill pads further from natural barriers and will more accurately reflect the true thickness of the mineral occurrence.
Western Plunge Target
Drill hole 1274-24-342 was designed as a step-out hole to test the western plunge at a depth of 1,400 meters. It extended to a vertical depth of 1,475 meters. However, after analyzing the final drill path, the company concluded that the intended target was missed by about 200 meters due to a shift in the mineralized structure towards the south. There is potential that the deepest part of the geological structure was not fully explored when considering the sequence of geological units observed at the B26 site. In preparation for Phase III, the company is considering this hole for geophysical surveys and will wedge off this pilot hole to better target the anticipated location of the mineralized zone in this area while intersecting the entire B26 system.
Detailed Hole Descriptions:
- Drill hole 1274-24-343 intersected five mineralized lenses between 495 and 653 meters, including new evidence of fertile volcanogenic mineralization in a quartz-siderite conformable replacement zone. The highest-grade intersection was 0.86% CuEq over 17.65 meters between 636 and 653.65 meters and showed significant gold enrichment. The higher-grade gold intersection measured 7.72 grams per tonne gold over 2.0 meters between 646 and 648 meters.
- Drill hole 1274-24-344 encountered a main intersection of 0.88% CuEq over 21 meters from 557 to 578 meters, including a shorter section of 1.62% CuEq over 7.3 meters from 569.9 to 577.9 meters. The copper enrichment correlates with a discontinuous section of coarse-grained chalcopyrite stringers.
- Drill hole 1274-24-345 intersected a section of 1.1% CuEq over 3.2 meters from 423.6 to 426.8 m, which lies on a 0.5-meter wide pyrite-chalcopyrite main vein and yielded 4.52% Cu and 30.7 grams per tonne silver over 0.5 meters.
- Drill hole 1274-24-347 encountered numerous quartz veins and veinlets in the middle target area below -500 meters depth, showing traces of pyrite and chalcopyrite. The mineralization exhibited significant fracturing in several locations, indicating a late-tectonic deformation regime. Key assay results include 1.82% CuEq over 12.5 meters from 514 to 526.5 meters, including a higher-grade section of 2.83% CuEq over 7.85 meters from 514.85 to 522.7 meters.
- Drill hole 1274-24-348 hosts three plurimetric zinc intersections with 1 to 2% zinc over 3.5 to 8.7 meters, from 373 to 404.6 meters. The stringer-like mineralization is located in a variably silicified lapilli tuff unit. The best result is 2.23 CuEq over 2.1 meters. Chalcopyrite subconcordant centimetric veins can be observed from 397.5 meters, overlapping the zinc mineralization down to 474.9 meters. The best result achieved in this environment is 0.64% CuEq over 6.45 meters between 438 and 444.45 meters.
- The results from drill hole 1274-24-349 illustrate the polymetallic signature of the VMS system with pyrite-sphalerite and pyrite-sphalerite-chalcopyrite stringers and disseminated zones developing from 553 meters down to about 800 meters, near the end of the hole, showing a true thickness of almost 200 meters. The best result was 2.20% CuEq over 4 meters, starting at 571 meters, including 4.2% zinc and 52.4 grams per tonne silver over 4 meters from semi-massive lenses.
- Drill hole 1274-24-355 yielded a series of 4 mineralized intersections from 73.3 to 406.8 meters, with apparent thicknesses varying between 2.5 and 5 meters grading from 1.45% CuEq to 2.9% CuEq. The host rock is highly foliated and fractured, generally intersected at a near 0-degree core angle, indicating the orientation of drilling along strike with the east-west mineralized structure. The mineralized intersections are associated with quartz-chalcopyrite breccias intersected at varying angles, suggesting an oblique orientation to the vein.
Table 2: Significant Intersections
| Drill Hole ID | From (m) | To (m) | Length (m) | CuEq (%) | Cu (%) | Au (g/t) | Ag (g/t) | Zn (%) |
| 1274-24-342 | 1,426 | 1,428 | 2.0 | 0.64 | 0.60 | 0.00 | 2.4 | 0.09 |
| 1274-24-343 | 574.1 | 577 | 2.9 | 1.11 | 0.83 | 0.07 | 7.3 | 0.6 |
| And | 585 | 587 | 2 | 1.21 | 0.04 | 0.02 | 1.65 | 3.2 |
| And | 618.7 | 622.65 | 3.95 | 1.16 | 1.06 | 0.17 | 2.6 | 0.0 |
| And | 636 | 653.65 | 17.65 | 0.86 | 0.25 | 1.02 | 1.4 | 0.0 |
| Including | 640.6 | 648 | 7.4 | 1.65 | 0.27 | 2.33 | 1.4 | 0.0 |
| Including | 646 | 648 | 2 | 4.73 | 0.17 | 7.72 | 1.4 | 0.0 |
| 1274-24-344 | 488 | 490.5 | 2.5 | 1.79 | 1.37 | 0.63 | 10.7 | 0.1 |
| And | 557 | 578 | 21 | 0.88 | 0.76 | 0.20 | 2.5 | 0.0 |
| Including | 569.9 | 577.1 | 7.2 | 1.63 | 1.34 | 0.48 | 4.3 | 0.0 |
| 1274-24-345 | 423.6 | 426.8 | 3.2 | 1.13 | 1.06 | 0.05 | 6.6 | 0.1 |
| And | 444.8 | 448.9 | 4.1 | 1.07 | 0.88 | 0.32 | 2.2 | 0.0 |
| 1274-24-347 | 467 | 470 | 3 | 0.73 | 0.00 | 0.02 | 21.1 | 1.7 |
| And | 514 | 526.5 | 12.5 | 1.82 | 1.15 | 0.32 | 24.0 | 1.0 |
| Including | 514.85 | 522.7 | 7.85 | 2.83 | 1.79 | 0.49 | 37.1 | 1.6 |
| And | 596.15 | 601 | 4.85 | 2.12 | 1.83 | 0.49 | 2.8 | 0.1 |
| 1274-24-348 | 373.3 | 377 | 3.7 | 0.83 | 0.01 | 0.01 | 10.4 | 2.1 |
| And | 397.2 | 404.6 | 7.4 | 0.85 | 0.41 | 0.08 | 12.0 | 0.9 |
| Including | 402.5 | 404.6 | 2.1 | 2.23 | 0.86 | 0.17 | 24.5 | 3.2 |
| And | 438 | 444.45 | 6.45 | 0.64 | 0.55 | 0.15 | 1.9 | 0.0 |
| 1274-24-349 | 538 | 540.2 | 2.2 | 0.93 | 0.01 | 0.08 | 36.9 | 1.9 |
| And | 558 | 584 | 25.5 | 0.71 | 0.22 | 0.08 | 16.7 | 1.0 |
| Including | 571 | 575 | 4 | 2.20 | 0.26 | 0.27 | 52.4 | 4.2 |
| Including | 580 | 584 | 4 | 1.32 | 1.04 | 0.14 | 34.1 | 0.1 |
| 1274-24-355 5 | 73.3 | 93.9 | 20.6 | 2.24 | 2.18 | 0.09 | 7.5 | 0.0 |
| Including | 73.3 | 76.5 | 3.2 | 8.72 | 8.49 | 0.35 | 27.2 | 0.1 |
| And | 111.5 | 114.3 | 2.8 | 1.93 | 1.87 | 0.07 | 6.3 | 0.0 |
| And | 374.8 | 377.6 | 2.8 | 1.45 | 1.18 | 0.44 | 4.3 | 0.0 |
| And | 401.8 | 406.8 | 5 | 1.53 | 1.52 | 0.03 | 2.3 | 0.0 |
| Including | 403 | 405.5 | 2.5 | 2.92 | 2.92 | 0.05 | 3.6 | 0.0 |
| Note 1: The above sections are not necessarily representative of the actual width of mineralization. Local interpretation shows that the core length generally corresponds to 70 to 80% of the true width of the mineralized lens. (342,343,344,345,347,348,349) Note 2: The actual thickness of drill hole 1274-24-355 is undefined. The modeled thickness could be between 10 and 15 meters. Note 3: Copper equivalent values were calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/oz Ag, and $1,800/oz Au. Recovery factors were applied according to the metallurgical test SGS CACGS-P2017-047: 98.3% for copper, 90.0% for gold, 96.1% for zinc, and 72.1% for silver. Note 4: The intersections were calculated using a cut-off grade of 0.1% Cu-Eq., which represents the visible boundary of the mineralized system. Note 5: The company has reported the partial results received so far and will report the remaining results once they are received and processed. Note 6: NSV means that the results were not significant. |
Table 2: Drill Hole Information
| Drill Hole Number | UTM East | UTM North | Elevations | Azimuth | Dip | Length (m) Drilled |
| 1274-24-342 | 652368 | 5513888 | 276 | 214.92 | -75.04 | 1,500 |
| 1274-24-343 | 652706 | 5513213 | 276 | 340.22 | -72 | 750 |
| 1274-24-344 | 652700 | 5513215 | 276 | 350 | -68 | 637 |
| 1274-24-345 | 652700 | 5513215 | 276 | 0.07 | -64.99 | 597 |
| 1274-24-347 | 653145 | 5513080 | 276 | 345.07 | -67.1 | 651 |
| 1274-24-348 | 653145 | 5513080 | 276 | 354.2 | -53.89 | 498 |
| 1274-24-349 | 653045 | 5513115 | 276 | 350 | -75.9 | 819 |
| 1274-24-355 | 653302 | 5513400 | 268.4 | 89.94 | -49.95 | 564 |
QAQC The core logging program was conducted 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, Quebec. All samples were prepared by fire assay on 50 g with atomic absorption finish and by ‘four-acid digestion’ with ICP-OES finish for gold and base metals, respectively. Samples showing a gold content of over 3 g/t are further processed by metallic screening with a cut at 106 µm. The treated material is split and examined by fire assay with ICP-OES finish until extinction. A separate portion is taken to separately examine mineralized sections with target grades above 0.5% Cu using Na2O2 fusion and ICP-OES or ICP-MS finish. Sample preparation duplicates, different standards, and blanks are inserted into the sample stream.
In the 2018 resource estimate, SGS recommended the QAQC protocol to explain the reproducibility for the four metals (Au-Cu-Ag-Zn). The company has created a series of testing protocols for this program with the aim of controlling QAQC issues from the start of the project. As a result, the samples are crushed more finely, with 95% of the particles having a diameter of 1.7 mm, and a large 1 kg split is pulverized to 106 µm (150 mesh). Other measures taken include the automatic re-evaluation of gold results over 3 g/t by metallic screening and the use of sodium peroxide fusions in mineralized sections corresponding to a target grade of over 0.5% Cu.
Qualified Person The information contained in this press release has been reviewed and approved by Martin Demers, P.Geo., OGQ No. 770, a qualified person as defined in National Instrument 43-101, who is responsible for the technical information in this press release.
About Abitibi Metals Corp: Abitibi Metals Corp. is a Quebec-based mineral acquisition and exploration company focused on developing high-quality base and precious metal properties that are drill-ready and have high potential for appreciation and expansion. Abitibi’s portfolio of strategic properties offers rich diversification and includes the option to acquire 80% of the high-grade B26 polymetallic deposit, which hosts a resource estimate of 11.3 million tonnes at 2.13% Cu-Eq (Ind) and 7.2 million tonnes at 2.21% Cu Eq (Inf), and the Beschefer Gold Project, where historical drilling has identified four historical intersections with a metal factor of over 100 g/t gold, highlighting 55.63 g/t gold over 5.57 meters and 13.07 g/t gold over 8.75 meters in four modeled zones.
About SOQUEM: SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery, and development of mining areas in Quebec. SOQUEM also contributes to maintaining a strong local economy. As a proud partner and ambassador for the development of Quebec’s mineral resources, SOQUEM relies on innovation, research, and strategic minerals to be well-positioned for the future.
ON BEHALF OF THE BOARD
Jonathon Deluce, Managing Director
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Forward-Looking Statement:
This press release contains certain statements that 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 operations, strategies, financial results, or other developments of the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions that 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 may change in respect of future business decisions. 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 behalf of, Abitibi. Although Abitibi has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, 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 variations) or statements that certain actions, events, or results ‘may’, ‘could’, or ‘will’ occur. Mineral exploration and development is highly speculative and characterized by several significant inherent risks that can result in the company being unable to successfully develop current or planned projects for commercial, technical, political, regulatory, or financial reasons, or if successfully developed, may not remain economically viable for their entire mine life due to any of the foregoing reasons amongst others. There is no guarantee that the company will be successful in achieving commercial mineral production, and the likelihood of success must be considered in light of the stage of operations.
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