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Abitibi Metals Drills 19.75 Metres at 1.35% CuEq In Western Extension with 500 Metre Step-Out at B26 Polymetallic Deposit
Highlights: The Company has received results from drillholes 1274-24-333 to 337, highlighted by the following intervals: #335 - 0.93% CuEq over 26.9 metres begi
About this update from Abitibi Metals Corp
[{"type":"text","content":" Highlights: The Company has received results from drillholes 1274-24-333 to 337, highlighted by the following intervals: #335 - 0.93% CuEq over 26.9 metres beginning at 44.5 metres depth #336 - 1.35% CuEq over 19.75 metres beginning at 216.2 metres depth The results from #335 and #336 confirm and extend the copper and zinc-silver VMS potential of the \"Satellite West\" zone located 500 metres to the west of the Main Deposit. These new results demonstrate that the felsic volcanic complex hosting the mineralization is open to the northwest and represents a new expansion target with no historical drill coverage. Assays from 30 holes remain pending, including drill hole 1274-24-339, where the Company intercepted a 106.5-metre interval beginning at 83 metres depth with copper mineralization concentrated in separate 0.4 to 4-metre bands with 10% to 60% chalcopyrite. The Company remains well funded with $18.5 million to complete the remaining 16,500 metres planned for the 2024 work program as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the B26 option. LONDON, ON, April 29, 2024 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) (\"Abitibi\" or the \"Company\") is pleased to announce results from the 13,500 metre maiden drill program at the B26 Polymetallic Deposit (\"B26\", the \"Project\" or the \"Deposit\") completed under the first phase of a fully funded 30,000-metre 2024 field season. Abitibi Metals is fully-funded with $18.5 million to complete the remaining 16,500 metres planned for the 2024 work program and an additional 20,000 metres in 2025 which will be incorporated into a Preliminary Economic Assessment to complete the option. On November 16th, 2023, the Company entered into an option agreement on the B26 Deposit to earn 80% over 7 years from SOQUEM Inc (see news release dated November 16, 2023). Jonathon Deluce, CEO of Abitibi Metals, commented, \"We are very excited to announce the results from the Satellite West target, which has outlined a new northwest expansion target with no historical drill coverage. The near-surface results from #335 are excellent and represent a 26.9 metre VMS Zinc-Silver lens with a strong Copper-Gold lens at depth, which intercepted 1.35% CuEq over 19.75 metres. These holes align with our obj...