Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) has announced the latest results from its drilling campaign at the B26 Polymetallic Deposit with significant intersections of copper equivalent mineralization.
The company intersected 2.82% copper equivalent (CuEq) over 44.5 metres, commencing at a depth of 146 metres.
Abitibi said the hole was specifically designed to explore the lateral extension of a high-grade lens identified in previous drillholes that had revealed significant mineralization, including 2.6% CuEq over 37 metres and 2.5% CuEq over 61.3 metres.
“This hole continues to add to the goal of better defining the high-grade lens while also outlining the lower-grade near-surface halo, supporting our bulk-tonnage open pit target,” CEO Jonathan Deluce said in a statement.
Another two drill holes returned 3.35% CuEq over 20.75 metres, starting at 126.3 metres depth and 3.24% CuEq over 9.9 metres, beginning at 156 metres depth.
Abitibi will build on the drill results to further target high-grade lenses within and outside the main deposit, Deluce said.
“With the copper price breaking out, projects like B26, located in the world-class jurisdiction of Quebec, stand out globally for their potential to deliver critical metals at a time when there is a clear rising need for copper,” he added.
"We are in an excellent position for the coming months, with $18 million in our treasury. This funding will support the 16,500 meters of drilling planned at B26, as well as an additional 20,000 meters in 2025. We expect to continue to have plenty of news in the coming weeks as we remain one of the most active junior companies in the mineral-rich Abitibi greenstone belt."