Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) unveiled new findings from its recent drilling operations at the B26 Polymetallic Deposit.
The latest drill results have returned promising intervals, with standout highlights including 0.93% copper equivalent (CuEq) over 26.9 meters in one hole and 1.35% CuEq over 19.75 meters in another.
These results confirm and extend the copper and zinc-silver VMS (Volcanogenic Massive Sulfide) potential of the Satellite West zone, positioned 500 meters to the west of the Main Deposit, Abitibi said.
Moreover, they highlight the unexplored nature of the felsic volcanic complex housing the mineralization, suggesting ample room for further expansion without historical drill coverage, the company added.
Assays from 30 holes remain pending, with particular anticipation surrounding a drill hole that intercepted a 106.5-meter interval, beginning at 83 meters depth, showcasing notable concentrations of copper mineralization, predominantly chalcopyrite, across separate bands.
“These holes align with our objective of identifying new targets outside the Main Deposit, and we will add this target as a priority for further evaluation under Phase 2,” Jonathon Deluce, CEO of Abitibi Metals, said in a statement.
Deluce also noted that the Satellite West target has outlined a new northwest expansion target with no historical drill coverage. The target has thick accumulation of siliceous material, indicative of strong VMS activity, suggesting the presence of a copper-gold mineralized system akin to B26.
Moving forward, Abitibi Metals plans to prioritize further evaluation of the Satellite West Zone under Phase 2 of its exploration program.
The exploration program is part of the company's fully funded 30,000-metre 2024 field season.