Business
Update on the Preparation Work for the Opening of the Sleeping Giant Mine
(via TheNewswire) Rouyn-Noranda, Quebec, Canada - TheNewswire - August 27, ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Update on the Preparation Work for the Opening of the Sleeping Giant Mine(via TheNewswire)\n \n \nRouyn-Noranda, Quebec, Canada - TheNewswire - August 27, 2020 - Abcourt Mines Inc. (TSXV:ABI), (OTC:ABMBF), (Berlin:AML-BE), and (Frankfurt Stock Exchanges:AML-FF), (\"Abcourt\" or the \"Corporation\"), is pleased to announce that the preparation work for the opening of the Sleeping Giant mine is progressing as planned and that the objective of producing some ore at the Sleeping Giant mine, at the end of September or the beginning of October is attainable. To date, more than $5M has been invested in this project and the Company was able to do that with the Elder mine cash flow. The Company is very proud to have realized this project without contracting any debt.\n\n \n \nWork to be done:\n\n\n \n\nShaft No.1 is used for the ventilation of mine and as an escape way. The old timber in the manway has to be replaced by new timber.\n\n\n \n\nShaft No.2 is used for production and services. We have to repair and re-enforce the landings in the manway.\n\n\n \n\nThe drifts that connect the two shafts have to be re-habilitated, as needed.\n\n\n \n\nWork history:\n\n\n \n\nThe rehabilitation of the mill and tailings pond was started immediately after the purchase of the property in 2016 and continues. The mine now has to be rehabilitated for its re-opening.\n\n\n \n\nRepair work in the mine was started in the second quarter of the annual period ending on June 30, 2020. It consisted in having the needed installations and the equipment for the work to be done. The repair of landings in shafts No.1 and No.2 followed. This work was stopped in December 2019 but it was re-started on April 16, 2020, with the re-opening of the mine after the closure due to Covid-19. For this work, we made sure that the timber used (Douglas fir) would last a long time and allow the operation to continue for many years. \n\n\n \nIn a press released dated June 5, 2020, we announced that work to re-open the we announced that work to re-open the Sleeping Giant mine had started.\n\n \n \nProgress made on mine rehabilitation\n\n\n \n\nIn Shaft No.1, repairs were done from surface to level 100 and the additional timber needed to repair the shaft to level 235 meters was recently received. This will enable us to complete the repair work in shaft No.1.\n\n\n \n\nIn Shaft No.2, a...