Abcourt Mines Inc.: Additional High Grade Gold Intersections at Elder Mine Near Surface and Progress Report on the Elder Mine Development
MONT-ST-HILAIRE, QUEBEC--(Marketwired - Sep 10, 2013) - Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(AML.F)(AML.F) (the "Company"), is pleased to announce that additional high grade gold intersections were found near surface in the 2013 drilling program at the Elder mine, northwestern Quebec. A total of 20 holes (E13-59 to E13-78) for 2,016 meters were drilled. Holes E13-59 to E13-76 were drilled in vein #2A and vein #4.
Results were as follows:
HOLE NO. | FROM | TO | LENGTH | GOLD |
E13-59 | 56.90 | 58.40 | 1.50 | 3.44 |
E13-60 | 49.47 | 51.50 | 2.03 | 55.37 |
E13-64 | 45.05 | 46.55 | 1.50 | 4.28 |
E13-65 | 56.05 | 57.55 | 1.50 | 6.77 |
E13-66 | 62.40 | 63.90 | 1.50 | 3.34 |
E13-68 | 61.58 | 63.08 | 1.50 | 5.04 |
E13-69 | 21.80 | 24.00 | 2.20 | 6.12 |
57.00 | 58.50 | 1.50 | 4.00 | |
E13-70 | 67.66 | 69.36 | 1.70 | 5.77 |
E13-71 | 79.50 | 80.33 | 0.83 | 7.13 |
E13-72 | 28.68 | 31.00 | 2.32 | 4.92 |
35.10 | 36.60 | 1.50 | 7.35 | |
44.00 | 45.22 | 1.12 | 6.55 | |
E13-73 | 37.49 | 39.30 | 1.81 | 9.93 |
or 37.49 | 40.45 | 2.96 | 7.36 | |
E13-74 | 32.65 | 34.23 | 1.58 | 10.82 |
E13-76 | 46.48 | 47.45 | 0.97 | 5.53 |
51.00 | 51.40 | 0.40 | 7.61 |
Holes E13-60 and E13-74 were reported previously in a Press Release dated July 30, 2013.
Holes E13-61, E13-62, E13-63, E13-67 and E13-75 had lower values.
Hole E13-77 was drilled in vein #3 and the best result from 50.75 m to 51.85 m was 3.30 g/t Au.
Hole E13-78 had a very good gold intersection at depth, below the 8th level, in vein #1. It was reported in a Press Release dated July 15, 2013.
Holes E13-59 to E13-78 were drilled to increase the resources and to upgrade inferred resources into indicated resources. On the average, results were quite good.
At the mine, the development program is progressing well. We now have about 15,000 tonnes of mineralized material on the stockpile. Aurbec received a confirmation that a C.A. to stockpile and to treat our material will be received this week as expected. The transportation of material from Abcourt to Aurbec will start next week. The mill will be available at the beginning of October. In the last 3 months of 2013, we expect to process 39,000 tonnes through the mill.
About Abcourt Mines Inc.
Abcourt Mines Inc. is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time the company is working on other projects (Aldermac, Vezza, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 resource calculation was completed in July, 2012, for the Elder Mine. A positive PEA report was prepared on Elder mine in the Fall of 2012 by Roche Limited, Consulting Group. A positive 43-101 feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased. To know more about Abcourt, please visit our web site at www.abcourt.com and SEDAR.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Abcourt Mines Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's amended and restated annual information form dated November 26, 2010 and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
This press release was prepared by Mr. Renaud Hinse, a qualified person, President of Abcourt Mines Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
