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Abcourt Mines Announces Results for the First Quarter Ended September 30, 2024
ROUYN-NORANDA, Quebec, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB : ABMBF) announces its re
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":" ROUYN-NORANDA, Quebec, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB : ABMBF) announces its results for the first quarter ended September 30, 2024. All monetary values in this press release are expressed in Canadian dollars, unless otherwise indicated. Financial statements and management discussion and analysis are available on SEDAR+. Highlights for the Quarter ended September 30, 2024 Exploration: Exploration work totaling $2,603,486 for the quarter, mainly consisting of prospecting and evaluation expenses incurred on the Sleeping Giant property for the underground drilling campaign for an amount of approximately $2,386,014. During the quarter, the Corporation completed 1,127 metres of definition and exploration drilling at the Sleeping Giant mine on the 4 upper levels, in order to refine the geological model on these levels and to support engineering planning towards a pre-feasibility economic study. From December 1, 2023 to September 30, 2024, the Corporation completed 4,270 metres of definition and exploration drilling at Sleeping Giant. Highlights of the results obtained during the drilling campaign on the Sleeping Giant property in the 20 West Zone area on the 235 level during the quarter are as follows: 125.67 g/t Au over 0.5 metre in hole 23-489. 46.08 g/t Au over 1 metre in hole 23-485 During the quarter, sales of approximately 189 ounces of gold at an average realized price of $3,181 (US$2,322) per ounce. Gold sales were from gold recovery on the Sleeping Giant property and the residual from the 5,000 tonne bulk sample from the Courville property (Pershing Manitou). During the quarter, the Corporation carried out stripping work on the Flordin property in the Cartwright area. Stripping work on 3 zones exposed the high-grade gold mineralized zone, and subsequently over 200 metres in distance, during a second round of stripping at the end of the quarter, and channel sampling of the newly exposed mineralized zone. The work completed during the quarter, and the results obtained from drilling in November 2023, support the Corporation's assumption that the high-grade gold mineralization associated with pyrite bands would be continuous over more than 2 km between the Cartwright deposit and the South Zone discovered by Cambior in 1988. On June 17, 2024, th...