Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) unveiled more high-grade copper results from its maiden drill program at the B26 polymetallic deposit.
The findings, obtained under the first phase of a fully funded 30,000-meter 2024 field season, include intervals of 1.31% copper equivalent (CuEq) over 23.55 meters, commencing at a depth of 114.15 meters, including 5.4% CuEq over 2.75 meters.
Another hole intersected 2.68% CuEq over 25.5 meters, starting from 189 meters depth, including 4.82% CuEq over 13.15 meters.
These results underscore Abitibi's commitment to advancing exploration efforts, particularly in infilling mineralization on the eastern side of the B26 Main Deposit. The company's endeavors have shown significant improvements in grades compared to historical drilling data.
“We have successfully better defined the mineralized zone at the eastern limit of the B26 Deposit,” CEO Jonathon Deluce said in a statement.
“With the copper price continuing to break 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."
Deluce also reaffirmed the company's financial position, with $18 million in treasury funds. This financial backing is poised to support the execution of the remaining 16,500 meters of drilling planned for 2024, as well as an additional 20,000 meters earmarked for 2025.