Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) has released the latest round of drill results from the B26 deposit showing substantial copper equivalent (CuEq) grades and extended mineralization.
The drilling results are from the eastern extension target of the B26 Deposit, located in Quebec, Canada.
Standout results include 1.78% CuEq over a 57.2-metre interval, beginning at a depth of 235.8 metres, including a higher-grade section of 3.1% CuEq over 13.05 metres.
Another drill hole returned 1.89% CuEq over 28.45 metres starting at 133.4 metres depth, with a notable high-grade zone of 6.5% CuEq over 5.25 metres.
What’s more, the company has successfully expanded the eastern boundary of the deposit by 75 metres beyond previous drilling limits.
The results were part of a series of holes aimed at extending the known mineralization of the deposit, which has a continuous strike length of 1 kilometre and mineralization drilled to a depth of 850 metres.
"Our drilling continues to intercept holes, which support our thesis of building on both the open-pit and underground historical resource through this program,” Abitibi CEO Jonathon Deluce said in a statement.
Abitibi Metals remains well-funded, with $17.5 million allocated to complete the remaining 16,500 metres of drilling planned for 2024, and an additional 20,000 metres scheduled for 2025. These efforts will be integrated into a Preliminary Economic Assessment to complete the B26 option agreement, which allows Abitibi to earn 80% over seven years from SOQUEM Inc.
“High-grade assets like the B26 project in Quebec, located in a world-class jurisdiction, represent an exceptional opportunity,” CEO Deluce added. “We are very excited about today's news of successful extensional drilling, showcasing the growth potential of this exciting copper/gold project."