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Abitibi Metals Drills 44.5 Metres at 2.82% CuEq in Central Drilling at B26 Polymetallic Deposit
Highlights: The Company has received results from drillholes 1274-24-301-305 and 339-341 highlighted by the following intervals: #339 – 2.82% CuEq over 44.5 met
About this update from Abitibi Metals Corp
[{"type":"text","content":" Highlights: The Company has received results from drillholes 1274-24-301-305 and 339-341 highlighted by the following intervals: #339 – 2.82% CuEq over 44.5 metres beginning at 146 metres depth #340 – 3.35 % CuEq over 20.75 metres beginning at 126.3 metres depth #341 – 3.24 % CuEq over 9.9 metres beginning at 156 metres depth Drillhole 1274-24-339 was designed to test the lateral extension of the high-grade lens identified in holes 1274-24-293 and 294, released on March 20, 2024. These holes intercepted 2.6% CuEq over 37.0 metres (#293), including 6.3% CuEq over 10.6 metres, and 2.5% CuEq over 61.3 metres (#294), including 11.4% CuEq over 10.6 metres. Drillhole 1274-24-339 intercepted mineralization approximately 20 metres east of 1274-24-294, intercepting 2.82% CuEq over 44.5 metres hosted in strong stringers observed from 83.0 to 189.5 metres, corresponding to a vertical depth starting about 20 metres below the bedrock contact. The potential to define more of this high-grade lens remains open. The Company remains well funded, with $18.0 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 B26 option. LONDON, ON, May 2, 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 $18.0 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 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, \"The drilling at B26 continues to deliver exceptional results as seen in #339, which intercepted 2.82% CuEq over 44.5 metres, extending the high-grade lens outlined in #294 laterally, 20 metres to the east. This hole continues to ad...