Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) announced that it has received the results from the first four holes of its maiden drill program at the B26 polymetallic deposit in Quebec which it believes supports the deposit’s bulk tonnage potential.
The company said it has received the non-rush portions of drill holes 1274-24-293 and -294.
Number 293 intersected 1.1% copper equivalent over 9.5 meters beginning at 63 meters depth and 2.6% copper equivalent over 37 meters beginning at 106 meters depth, including 6.3% copper equivalent over 10.6 meters.
Meanwhile, number 294 intersected 1.5% copper equivalent over 11.9 meters beginning at 70.4 metres depth and 2.5% copper equivalent over 61.3 meters beginning at 128.6 meters depth, including 11.4% copper equivalent over 10.6 meters.
“The results from the non-rushed portions of number 293 and number 294 represent a low-grade halo around the high-grade core of the deposit and support having bulk tonnage potential,” Abitibi Metals CEO Jonathon Deluce said.
“The B26 deposit is a highly mineralized system, and this low-grade material also provides leverage in a higher copper price environment. In response to the high-grade core of number 294, three holes have been added to test the expansion potential down-dip and along strike."
The company has also identified low-grade near-surface targets starting at or close to bedrock in each of the four holes reported.
It said the results from drill holes -295 and -296 align with its objective of testing the north bedrock interface to complete the model to assess the potential updated pit-shell model.
Abitibi Metals said it intends to complete a minimum of 12,000 meters of drilling at the project by the end of March under the first phase of the fully-funded 30,000-meter 2024 field season. A total of 8,839 meters across 29 holes have been completed to date.
It is advancing the B26 project under an option agreement it entered into in November 2023, to earn an 80% interest in the project over seven years from SOQUEM.
Abitibi Metals is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential.