Abcourt Announces its Results for the Fourth Quarter and annuals ended June 30, 2024
ROUYN-NORANDA, Quebec, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSXV:ABI) (OTCQB : ABMBF) announces its results for the fourth quarter and the year ended June 30, 2024. All monetary values in this press release are expressed in Canadian dollars, unless otherwise indicated. The financial statements and management report are available on SEDAR+.
Highlights for the year ended June 30, 2024
In July 2023, the Company published the technical report and preliminary economic assessment for the Sleeping Giant project in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects;
In July 2023, Robert Gagnon, geologist, was appointed Vice-President Exploration of the Corporation;
In November 2023, Abcourt completed a drilling campaign on the Flordin property. A total of 1,512 metres of drilling was completed (8 holes) in the Fall of 2023 in the eastern sector of the property, 1 km east of the area worked by Cambior in 1988. Hole FL-23-265 intersected two gold mineralized zones in an interval of 36 to 52 m. The first mineralized zone returned 3.58 g/t gold over 4 m from 36 to 40 m, and the second returned 14.79 g/t gold over 4 m from 48 to 52 m. This drilling campaign confirmed the presence of new high-grade gold zones located near surface;
Exploration work totalled $4,682,986 for the year, with mainly prospecting and evaluation expenses incurred on the Sleeping Giant property for the underground drilling campaign in the amount of approximately $3,827,538 and for the processing of the 5,000-tonne bulk sample from the Courville property (Pershing Manitou);
The Corporation has completed the processing of a 5,000 tonnes bulk sample from the Pershing-Manitou project in April 2024;
The Corporation completed approximately 3,143 metres of definition and exploration drilling at the Sleeping Giant mine on the upper 4 levels of the mine to refine the geological model on these levels and support engineering planning towards a pre-feasibility economic study;
Recovered 327 ounces of gold from 1,428 tonnes from the Sleeping Giant mine at a feed grade of 7.4 g/t, with a mill recovery of 95.7%;
Recovery of 269.6 ounces of gold from 5,361 tonnes ...
