Business
Abcourt Mines Prepares the Processing of the 5,000 Tonnes Bulk Sample from Pershing-Manitou Deposit at Sleeping Giant Mill
ROUYN-NORANDA, Quebec, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that the
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":" ROUYN-NORANDA, Quebec, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that the transport of its 5,000 tonnes bulk sample from the Pershing Manitou deposit is now complete and Abcourt is now preparing the Sleeping Giant mill to process the bulk sample. See Figure 1 below. Figure 1: 5,000 tonnes of Pershing-Manitou stored at the Sleeping Giant mine Over the past few months, the company has carried out a thorough clean-up of the mill which has enabled us to recover considerable sums of money, update our studies and 3D models as well as identify the maintenance required for a restart of the ore processing plant. The cleaning and recovery phase having been completed; the team can now begin work to put the mill back into operation as quickly as possible. Thanks to the amounts raised during the first tranche of the current private placement, the company will now be able to relaunch its activities. Over the next 5 weeks, Abcourt will carry out the plant restart sequence. Then, it will process the 5,000 tonnes coming from Pershing-Manitou, which should take 5 to 6 weeks. In parallel with the start-up of the mill and the resulting sale of gold, Abcourt plans to begin development work in the upper levels of the Sleeping Giant mine with a view to extracting mineralized material. This development work will consist of definition drilling, rehabilitation of the drifts and moving to surface mineralized material already available in the various stopes. Subsequently, underground mineral extraction from stopes already accessible on levels 145, 190, 235, and 295 will be carried out during the first months of development. The objective is to use the revenues from this extraction to advance the production project, engineering and geology towards a pre-feasibility study. To accomplish its goals, Abcourt will need to hire miners, mechanics, and plant operators and has already begun the hiring process. People wishing to apply can send their resume to [email protected]. Although the company is currently fully capitalized for the next steps, the ongoing private placement will accelerate development underground as well as secure small production that will help the company grow organically. It is expected that the money from the second investment tranche will be used to accelera...