Surface Drilling at Elder Mine Has Intersected Excellent Values In Gold

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(TheNewswire)

 

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Mont-St-Hilaire, Québec, Canada, February 15, 2018

 

Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Company”) is please to announce that excellent results were obtained in a recent surface drilling program at the Elder mine. Forty-four holes were drilled, for a total of 7,288 meters.

 

At the Elder mine, the No.1 vein is the main vein. It extends over a strike distance of about 650 meters, from surface to the bottom of the mine. The dip is 22o to the South. It is accompanied by vein #3 and #6 with the same strike and dip.

 

There are also veins No.2 and No.2A, from the 4th level to surface, with the same strike and a dip of 40o S and vein No.4 with a North-South direction and a dip of 22o to the East. See the cross-section below.


Click Image To View Full Size

 

Here is a list of the best intersections.

  

Veins No.2 and No.2A

   ------------------------------------- |Hole No.|From |To |Length|Grade| | |meters|meters|meters|g/t | |-----------------------------------| |E 17-99 |182.6 |183.6 |1.0 |2.27 | |-----------------------------------| |E 17-107|123.5 |125.3 |1.8 |11.86| |-----------------------------------| |E 17-105|46.4 |49.5 |3.1 |3.72 | |-----------------------------------| |E 17-109|42.9 |44.7 |1.8 |4.92 | -------------------------------------  

Hole E 17-99 was drilled near an old hole (45-73) which gave a 0.7 meter intersection grading 167.63 g/t of gold. This indicates that values in this zone are erratic, probably due to the presence of free gold.

  

Veins No.3 and No.3A

  ------------------------------------- |Hole No.|From |To |Length|Grade| | |meters|meters|meters|g/t | |-----------------------------------| |E 17-82 |99.0 |100.8 |1.8 |3.44 | |-----------------------------------| |E 17-85 |141.8 |143.6 |1.8 |10.35| |-----------------------------------| |E 17-87 |162.4 |164.4 |2.0 |4.20 | |-----------------------------------| |E 17-91 |107.7 |109.3 |1.6 |5.44 | -------------------------------------  

These intersections are in addition to previous intersections, in this vein, such as hole 87-02 with 1.8 meters grading 14.33 g/t Au, hole 45-67 with 1.5 meters grading 6.73 g/t Au and hole 45-07 with 2.8 meters grading 11.66 g/t Au.

  

Vein No.4

  ------------------------------------- |Hole No.|From |To |Length|Grade| | |meters|meters|meters|g/t | |-----------------------------------| |E 17-79 |52.5 |54.3 |1.8 |5.09 | |-----------------------------------| |E 17-84 |54.4 |56.2 |1.8 |4.39 | |-----------------------------------| |E 17-86 |63.4 |65.5 |2.1 |5.80 | |-----------------------------------| |E 17-87 |89.4 |91.3 |1.9 |9.27 | |-----------------------------------| |E 17-89 |108.8 |112.7 |3.9 |11.05| |-----------------------------------| |E 17-118|183.4 |185.6 |2.2 |9.27 | |-----------------------------------| |E 17-120|188.9 |190.7 |1.8 |8.26 | |-----------------------------------| |E 17-121|129.3 |131.8 |2.5 |8.40 | |-----------------------------------| |E 17-122|132.7 |134.5 |1.8 |3.65 | -------------------------------------   

Vein No.6

  ------------------------------------- |Hole No.|From |To |Length|Grade| | |Mete.s|meters|metres|g/t | |-----------------------------------| |E 17-113|194.6 |196.4 |1.8 |9.91 | |-----------------------------------| |E 17-115|85.9 |88.0 |2.1 |8.10 | -------------------------------------  

These good values incorporate those reported in the October 26, 2017, Press Release.

 

The length of core represents the vertical thickness of mineralization.

 

The values obtained confirm the mineralized blocks incorporated in the calculation of the 2012, 43-101 resources (NI 43-101) by Jean-Pierre Bérubé, consulting geological engineer.

 

Qualified persons and procedures for quality assurance and quality control

 

Mr. Eugène Gauthier, P. Geo. and P. Eng., is the geologist in charge at the Elder mine. Mr. Laurent Hallé, P. Geo., is co-responsible with Mr. Gauthier for the management of the surface exploration program. Messrs. Hallé and Gauthier are both professional contractors for Abcourt Mines Inc. The drilling was done by the G4 drilling company,

 

The scientific and technical content have been prepared by Renaud Hinse, P. Eng. The content has been approved by Messrs. Eugène Gauthier and Laurent Hallé. These three persons act as qualified persons, according with 43-101 rules for information relating to mining projects (43-101 regulations).

 

Core sample are cut in two equal parts with one part kept in the box and the other half put in a plastic bag, numbered and sent for assays to the Sleeping Giant laboratory. The latter is not independent or accredited. Procedures for quality assurance and quality controls at this laboratory include insertions of blanks, replicates and standards for precision and accuracy of results. Abcourt Mines Inc also duplicate pulps to ALS Global Laboratory, an independent and ISO certified Lab. Any batch that fails QAQC protocol is re-assayed. Non-certified assays are used to calculate weighted averages when independent assays are not available.

 

ALS Global Chemistry Laboratory is ISO 9001 2008 and is certified ISO/EC 17025 for some specific laboratory procedures.

 

About Abcourt Mines Inc.

 

Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2012) and a positive P.E.A. study.  Abcourt is focusing on the exploitation of the Elder mine.

The Abcourt-Barvue property has silver–zinc resources (2014). A feasibility study was completed in 2007 by Roche / Genivar on the Abcourt-Barvue project.

In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government.  The mill has a capacity of 700 to 750 tonnes per day. Resources are being revised now.

To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.

This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc.  Mr. Hinse is a “Qualified Person” under the terms of Regulation 43-101.

Forward-Looking Statements

 

This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

 

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt’ annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

 

For more information, please contact:

 

Renaud Hinse, President and CEO

T: 819 768-2857 450 446-5511

F: 819 768-5475 450 446-3550

Email : [email protected]

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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