Business
Abcourt's Directors have Approved a $1.6 M Exploration Program on the Sleeping Giant, Discovery and Flordin Gold Properties
(via TheNewswire) Rouyn-Noranda, Quebec, Canada - TheNewswire - September 10, 20...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt's Directors have Approved a $1.6 M Exploration Program on the Sleeping Giant, Discovery and Flordin Gold Properties(via TheNewswire)\n \n \nRouyn-Noranda, Quebec, Canada - TheNewswire - September 10, 2019 - Abcourt Mines Inc. (TSXV:ABI.V) (Berlin:AML-BE) and (Frankfurt Stock Exchange:AML-FF) (\"Abcourt\" or the \"Mines Abcourt Inc.) is pleased to announce that Abcourt's directors have approved a $1.6 M exploration program at the Sleeping Giant, Discovery and Flordin gold properties.\n\n \n \nSleeping Giant mine, vein 8\n\n \n \nAt the Sleeping Giant mine, the objective is to explore the upper part of vein 8 by diamond drilling. A total of 6,000 meters is planned. In the past, vein 8 was mined from level 485 m to level 975 m, where the vein is relatively closer to shaft No 2. The production totalled 628,000 tonnes with grade of 12.12 g/t Au. Some lateral extensions were left as shown by several intersections shown on the vertical projection of the plan attached. \n\n \n \nOn the upper levels, with a 32o to 45o dip the vein moves away from shaft No 2 as it goes up. In the past, with low gold prices, the exploration and mining of this part of vein 8 was not considered feasible. \n\n \n \nWith the current gold price ($1,500 US or $2,000 CDA) our mine geologist considers the upper part of vein 8 as a very nice exploration target with a potential of 1,3 M tonnes of mineralization with a grade of about 12 g/t of gold.\n\n \n \nDiscovery Project\n\n \n \nThe Discovery property covers the Cameron deformation corridor in the western extension of the Flordin property held 100% by Abcourt and the Cameron Shear property held 50% by Jien Canada Mining Ltd and 50% by Abcourt Mines Inc. The property was acquired from Deloitte Restructuring Inc. on February 23, 2016. There is no royalty to pay.\n\n \n \nThe Discovery property is located 60 km to the north-west of the Lebel-Sur-Quevillon municipality, Quebec, Canada. It is located on the SNRC 32F/06 map and straddle the Desjardins and Bruneau townships border line. The property is located on the Lac Simon Algonquin land of category III. It consists in 83 mining titles (CDC) totaling 4,165.7 hectares.\n\n \n \nThe gold mineralization on the Discovery property is found in veins. It is made up of 1 to 5% pyrrhotite and pyrite associated with quartz-ankerite. Walls are sometimes albitized and...