Signs Point to Further Resource Growth
Just a few days ago, when Abitibi Metals (WKN A3EWQ3/ CSE AMQ) presented the new, already significantly increased resource for the B26 copper and gold project, we pointed out that even now there is still excellent potential for further expansion of the deposit. This has now been impressively confirmed!
Abitibi has now presented the first results of the ongoing second drilling phase at B26. Not only did they demonstrate high metal grades, but they also encountered ore at depths where the company had not previously made discoveries!
In detail, Abitibi drilled 4.9% copper equivalent over 4 meters with drill hole #338W1 within a wider section of 17.4 meters at 2.4% copper equivalent – starting at a depth of 1,186.6 meters! This represented an increase in grade compared to the values recently reported in the resource estimate. These higher-grade sections were part of an interval of 77.95 meters at 0.83% copper equivalent.
In addition, drill hole #338 yielded 2.1% copper equivalent over 7.25 meters within 37.3 meters at 0.86% copper equivalent from 1,206 meters depth – and in the same hole, another section of 1.7% copper equivalent over 7.8 meters.
Overall, these results confirm the continuity of the chalcopyrite-bearing veins outside the current resource envelope and outline the interpreted dip of the mineralized system at the deposit scale.
Cross-section highlighting significant assay results in drill holes 1274-24-338/W1
Drill hole 338W1, a so-called “wedge hole” or a kind of branch from the original borehole, intersected the mineralization zone encountered in #338 about 50 meters above the mentioned mineralized sections. In doing so, 338W1 hit the same high-grade zone, with as mentioned 2.4% and 4.9% copper equivalent, demonstrating the potential of the B26 zone for high-grade mineralization down-dip.
Breakthrough in B26 Exploration!
The new exploration area is located about 200 meters below historical drilling and, more importantly, outside the western boundary of the B26 deposit. Abitibi’s management considers the expansion of the down-dip target a breakthrough in B26 exploration. This supports the modeling of a structurally controlled gold-bearing quartz vein system with chalcopyrite. Including the disseminated, lower-grade material, the mineralized total system reaches an average thickness of 140 meters, according to the company!
Conclusion: Abitibi Metals continues where it left off with the recently published resource estimate for B26 – with growth. Given the breakthrough in deposit exploration announced by the company, signs are good that it has not yet reached its full size.
