Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) announced that driven by continued positive visuals, it has expanded its maiden drill program at the B26 Polymetallic Deposit to approximately 13,500 meters.
The Quebec-focused mineral acquisition and exploration company said the increase in the drill program follows the addition of a third drill rig at the site.
It also follows the highest-grade intercepts in the project’s history, including 11.4% copper equivalent over 10.6 metres beginning at 135 metres depth in one hole and 6.3% copper equivalent over 10.6 metres beginning at 120 metres depth in another.
Abitibi expects to wrap up the drill program in late April and resume in late May following the conclusion of a winter break-up.
“Given our ongoing success in the field and the recent closing of oversubscribed $7.1 million financing bringing our total treasury to approximately $19 million, expanding the program further was an easy decision as we work to aggressively develop the deposit,” Abitibi Metals CEO Jonathon Deluce commented.
“With assays from over 40 holes at B26 to be released in the coming weeks, and a simultaneous ongoing drill program at the high-grade Beschefer Gold Project, the spring will continue to be a very exciting time for Abitibi.”
The B26 Polymetallic Deposit is located within the Abitibi Greenstone Belt in Quebec and comprises 66 claims spanning 3,328 hectares.
In November 2023, Abitibi Metals entered into an option agreement with SOQUEM to earn an 80% interest in the B26 project over seven years.