Latest news with #JonathonDeluce
Yahoo
4 days ago
- Business
- Yahoo
Abitibi Metals' Expands Mineralization at Depth and Along Strike at the B26 Deposit
Highlights: Hole 1274-17-269-W2b intersected 30 metres of strong VMS style mineralization 80 metres beyond current resource boundary between 1,140 and 1,170 meters along the hole. Visual observations (refer to Figure 1) confirm the presence of copper stringers and mineralization in key growth corridors; assays pending. Hole 1274-25-368 intersected two multi-metre zones of disseminated copper and copper-sphalerite mineralization, located approximately 160 metres beyond previously drilled holes. The mineralized intervals were encountered between 662 and 686 metres downhole, assays are pending. A total of eight holes completed, and 7,000 metres drilled to date in Phase 3 drill program, with three rigs active and 10,500 metres remaining. London, Ontario--(Newsfile Corp. - August 7, 2025) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to report on the progress of its ongoing Phase 3 drill program at the B26 polymetallic deposit in Québec. Drilling continues to successfully intersect mineralization beyond the current Mineral Resource Estimate ("MRE"), confirming the expansion of the mineralized footprint. The Company currently owns 50% of the B26 deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). As of this release, eight holes have been completed in Phase 3 and a total of 7,000 metres drilled to date, including holes drilled prior to breakup). To accelerate exploration efforts, a third drill rig was mobilized last week, targeting high-priority expansion zones across the western and down-plunge of the B26 mineralized system. Jonathon Deluce, CEO of Abitibi Metals, stated: "The Phase 3 drill program is simultaneously delivering multiple positive developments, and we are just beginning to unlock its full potential. Directional drilling offers a significant advantage over conventional methods by reducing costs while generating multiple intercepts in the same area. This approach allows us to quickly identify and focus on the most promising zones, optimizing capital allocation and maximizing value for our project-and ultimately, for our shareholders." Drilling Update at B26 Deposit: Abitibi has completed several key step-out holes designed to test the boundaries of the current resource model. Visual analysis of core indicates strong mineralization in multiple holes. Notable Highlights include: 1274-17-269-W1b: Intersected a mineralized zone approximately 80 metres beyond the existing MRE, representing a meaningful step-out and validating continued growth potential. This hole encountered a heavily mineralized interval of 6.6 metres from 993.0 within a broader 17.4-metre mineralized package between 982.2 and 999.6 metres downhole; assays are pending. 1274-17-269-W2b: This hole, a second Devico branch from the original hole 1274-17-269, cut 30 metres of strong VMS style copper stringers mineralization 80 metres beyond current resource boundary between 1,140 and 1,170 meters along the hole. The intercept is located some 80-metre east of hole 1274-24-338W1 and about 160 metres below 1274-17-269-W1b. 1274-25-368: The hole cut the mineralized envelope at predicted depth. A 1.7-metre chalcopyrite bearing intercept and a 1.2-metre sphalerite - chalcopyrite bearing intercept were cut between 682 and 686 metres in the hole. The hole targets an additional 160-metre step-out from hole 1274-16-234 in the eastern extension, aimed at following up on previously intersected mineralization. 1274-25-367: Drilling has been completed with core processing in progress. Drilling targeted an additional 80-metre step-out from hole 1274-14-182 in the eastern extension, aimed at following up on previously intersected mineralization. Figure 1: Copper stringers mineralization observed in Hole 1274-17-269W2b To view an enhanced version of this graphic, please visit: Figure 2: B26 Long Section with Holes Completed To view an enhanced version of this graphic, please visit: About B26 polymetallic project: The B26 polymetallic deposit is a rapidly advancing copper-gold asset with strong growth potential, underpinned by a recently announced Mineral Resource Estimate of 11.3 million tonnes at 2.13% CuEq (Indicated) and 7.2 million tonnes at 2.21% CuEq (Inferred). The deposit hosts approximately 550 million pounds of copper, 370,000 ounces of gold, along with significant zinc and silver credits, establishing B26 as a cornerstone asset in Québec's critical minerals strategy. With high-impact exploration underway, a growing resource base, and strong copper-gold fundamentals, the B26 deposit is well-positioned to become a premier polymetallic resource supporting the global shift toward electrification and Québec's critical minerals supply chain. On November 16, 2023, Abitibi Metals entered into an option agreement with SOQUEM Inc., a subsidiary of Investissement Québec, to earn up to 80% ownership of the B26 Deposit over seven years (see November 16, 2023 press release). The Company currently holds 50% ownership and is actively advancing toward earning an additional 30% interest. Located just 5 km south of the past-producing Selbaie Mine, B26 lies within the heart of Québec's Abitibi region-approximately 90 km west of the Matagami mining camp and 140 km north-northwest of Amos. The project spans 66 contiguous mining claims, totaling 3,328.51 hectares, and benefits from exceptional infrastructure in a well-established mining district. B26 is characterized by stacked massive and semi-massive polymetallic sulfide lenses, extending over one kilometre within a steeply dipping felsic volcanic basin. Mineralization is hosted primarily in rhyolite and associated tuffs, with two main styles observed: A northern domain, copper-rich chalcopyrite veins and veinlets are hosted in sericitized and chloritized rhyolite. A southern domain, disseminated to massive sphalerite, pyrite, and galena mineralization hosted in a dome of massive rhyolite. These mineralized zones are stacked sub-parallel, generally trending east-west and dipping 87° south, highlighting a structurally complex and prospective system that remains open laterally and at depth. Phase 3 Drill Program: Driving Growth and Value The ongoing Phase 3 drill program is designed to strategically advance B26 through three key objectives: Resource Growth - Higher-Grade Focus:Targeted drilling is aimed at defining the continuity of previously underestimated higher-grade zones, improving the geological model and structural orientation and continuity. Expansion of Mineralized Trends:Step-out drilling is testing open-ended mineralized zones both at depth and along strike, with the goal of increasing overall tonnage and mineralized footprint. Unlocking Regional Potential:Exploration will also target new discoveries across the project's broader 8 km east-west trend and a 7 km northwest-southeast corridor between B26 and the past-producing Selbaie mine. Collectively, these targets represent a critical step in unlocking the next phase of growth at B26. With the potential to significantly expand the strike length, depth, and overall mineralized footprint of the deposit, this phase of drilling could significantly enhance the scale, grade continuity, and long-term development potential of one of Quebec's most promising mineral deposits. Looking Ahead: Initial assay results from Phase 3 are expected in the coming month and will continue throughout the remainder of 2025. Abitibi Metals is fully funded to Q1, 2027, the Company has budgeted approximately 25,000 additional metres for Phase 4 drilling, to be strategically deployed in 2026 based on ongoing exploration success. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind.: 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf.: 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified four historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. About SOQUEM: SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer For more information, please call 226-271-5170, email info@ or visit The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: LinkedIn: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada - Geostat., Effective Date: November 1, 2024, Date of Report: February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations. To view the source version of this press release, please visit
Yahoo
21-07-2025
- Business
- Yahoo
Abitibi Metals Expands Mineralization with Successful Step-Out Drilling at B26 Deposit
Highlights: Hole 1274-17-269-W1b intersected 20 metres of strong VMS style mineralization 80 metres beyond current resource boundary. Visual observations (refer to Figure 1) confirm the presence of copper stringers and mineralization in key growth corridors; assays pending. A total of six holes completed, and 4,829 metres drilled to date in Phase 3, with two rigs active and 15,171 metres remaining. London, Ontario--(Newsfile Corp. - July 21, 2025) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to report on the progress of its ongoing Phase 3 drill program at the B26 Polymetallic Deposit in Québec. Drilling has successfully intersected mineralization outside the current Mineral Resource Estimate ("MRE"), confirming expansion potential in multiple directions. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). As of this release, six holes have been completed in Phase 3 and a total of 4,829 metres drilled to date (This includes the holes drilled prior to breakup). Two drill rigs remain active on site, testing high-priority expansion zones across the western, down-plunge, and southeastern extensions of the B26 mineralized system. "What's particularly exciting is the volume of high-grade mineralization sitting outside the current resource model," added Jonathon Deluce, CEO of Abitibi Metals. "The holes being drilled in this phase 3 program have the potential to rapidly convert the open zones into a new phase of resource growth - and that's where a company value re-rating begins. It's also important to highlight that results from our Phase 2 drill program were not included in the recent resource update, underscoring the additional future upside for Abitibi Metals." CEO Update - Video Cannot view this video? Visit: Drilling Update at B26 Deposit: Abitibi has completed several key step-out holes designed to test the boundaries of the current resource model. Visual analysis of core indicates strong mineralization in multiple holes. Notable Highlights include: 1274-17-269-W1b: Intersected a mineralized zone approximately 80 metres beyond the existing MRE, representing a meaningful step-out and validating continued growth potential. This hole encountered a heavily mineralized interval of 6.6 metres from 993.0 within a broader 17.4-metre mineralized package between 982.2 and 999.6 metres downhole; assays are pending. 1274-17-269-W2b: Currently in progress, targeting an additional 80-metre step-out from hole 1274-24-338W1 in the eastern extension, aimed at following up on previously intersected mineralization 1274-25-368: Currently in progress, targeting an additional 160-metre step-out from hole 1274-16-234 in the eastern extension, aimed at following up on previously intersected mineralization. 1274-25-367: Drilling has been completed with core processing in progress, targeting an additional 80-metre step-out from hole 1274-14-182 in the eastern extension, aimed at following up on previously intersected Figure 1: Copper stringers mineralization observed in Hole 1274-17-269W1b To view an enhanced version of this graphic, please visit: Figure 2: B26 Long Section with Holes Completed To view an enhanced version of this graphic, please visit: B26's Expansion Potential: With over 1.8 km of strike length and excellent vertical continuity, the 2024 mineral estimate of B26 outlines a global resource of 11.3MT @ 2.13% Cu Eq (indicated) & 7.2MT @ 2.21% Cu Eq (inferred). However, as the current drilling demonstrates, the system remains open in multiple directions, providing the opportunity to significantly grow current resources, positioning Abitibi Metals as one of the most compelling copper growth stories in Canada. Strategic Focus of Phase 3 Program: With up to 17,500 metres planned in Phase 3, drilling is focused on multiple targets as outlined in the recently released long section: Western Extension: Multiple holes are testing the western strike of high-grade Cu-Au lenses, targeting continuity up to several hundred metres beyond the current model. Eastern Extension: Six holes to test the eastern extension of the deposit in the vicinity of the N-S diabase dyke Down-Plunge Growth: Deeper drilling aims to extend the interpreted plunge of the Cu-Au system with potential additional high-grade lenses at depth. Southeastern Gravimetric Anomaly: A large untested geophysical target southeast of the main zone, situated along the plunge vector, is now being drilled and may represent a blind lens and have the potential for a massive extension of the mineralized system. Central Zone Step-Outs and Infill: Holes are designed to improve model confidence and continuity as well as testing lateral expansion potential in zones with prior high-grade hits (>2.0% CuEq). Branch Hole Strategy: Directional drilling technology is being used from existing collars to efficiently test multiple orientations around positive results, minimizing time and reducing drilling costs. All targets were selected based on 3D modelling of the updated 2024 resource, historical drilling, and advanced geophysical interpretations. Figure 3: B26 Deposit-Long Section Target Summary To view an enhanced version of this graphic, please visit: Collectively, these targets represent a critical step in unlocking the next phase of growth at B26. With the potential to significantly expand the strike length, depth, and overall mineralized footprint of the deposit, this phase of drilling could significantly enhance the scale, grade continuity, and long-term development potential of one of Quebec's most promising mineral deposits. Looking Ahead: Initial assay results from Phase 3 are expected in the coming month and will continue throughout the remainder of 2025. Abitibi Metals is fully funded to Q1, 2027, the Company has budgeted approximately 25,000 additional metres for Phase 4 drilling, to be strategically deployed in 2026 based on ongoing exploration success. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. About SOQUEM: SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer For more information, please call 226-271-5170, email info@ or visit The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada - Geostat., Effective Date: November 1, 2024, Date of Report: February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
07-07-2025
- Business
- Cision Canada
Abitibi Metals Outlines 8.7 Kilometres of High-Priority Drill Targets from VTEM™ Survey at B26 Project
The survey successfully delineated 8.7 km of high-priority conductive horizon targets, several of which are located along strike and at depth from the known B26 Deposit, which hosts a current resource of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf – 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag). "The VTEM™ results confirm what we were hoping for, showing several areas with strong potential for new discoveries," said Jonathon Deluce, CEO of Abitibi Metals. "These results build a solid pipeline of new drill targets to support our ongoing infill and step-out drilling at B26. They also strengthen our ability to define and prioritize regional targets, which make up one of the key pillars of our Phase 3 drill program." The VTEM™ survey has been successfully completed over the B26 Project, with all data processed and validated by Geotech Ltd. The copper stringer zone at B26 displays a well-defined conductive response, while the main zinc-rich ore body remains non-conductive. Despite this, a potential 1.3 km western extension of the main deposit has been identified. This zone is characterized by a low magnetic signature and is supported by early-stage indications of zinc and silver mineralization. Two new high-priority targets have been delineated along the Enjalran–Brouillan contact, exhibiting geophysical and geological characteristics similar to the B26 deposit. These targets represent an additional 3.4 km of prospective strike length for follow-up exploration. These include: Comparable VTEM™ conductive and magnetic responses; A favourable geological context marked by the presence of felsic volcanic (rhyolite) units; Historical drill intercepts containing chalcopyrite (the primary copper-bearing mineral at B26), as well as sphalerite and silver. Two discrete conductive anomalies have been identified along the corridor between the B26 deposit and the past-producing Selbaie Mine. Based on Geotech's interpretation, these anomalies are consistent with a favourable VMS (Volcanogenic Massive Sulphide) environment. To refine these targets, advanced geophysical inversion and Maxwell modeling are recommended to better constrain geometry, depth, and drill targeting. These anomalies collectively outline an additional 4 km of mineralized trend for systematic exploration. Next Steps: The Company is planning property wide program of 2,000 to 4,000 metre follow-up drill program, expected to commence where accessible during the Phase 3 Program with the remaining in winter 2026, focusing on high-priority targets defined by the VTEM data and compilation of historical results from geophysical surveys and drilling. Integration of VTEM results with existing geophysical and geological data sets will further refine exploration models across the property. Please see Figure 1 below for the locations of VTEM anomalies and their relationship to the known B26 Deposit. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer For more information, please call 226-271-5170, email [email protected], or visit The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report : February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
Cision Canada
26-06-2025
- Business
- Cision Canada
Abitibi Metals Resumes Phase 3 Drill Program (17,500m) and Enhances Operational Efficiency
Highlights: Phase 3 Drilling update: Drilling has commenced with two drills, and the directional crew has arrived at the camp. This program is expansional focused, following up on high-grade intercepts on the boundary of the deposit which include: 1274-13-117: 2.92% CuEq (2.36% Cu, 0.56 g/t Au & 6.47 g/t Ag) over 68 metres 1274-17-260: 2.63% CuEq (1.75% Cu, 1.34 g/t Au & 3.17 g/t Ag) over 12 metres 1274-17-269: 2.99% CuEq (1.78% Cu, 0.92 g/t Au & 1.87 g/t Ag) over 10 metres Phase 3 Budget: The program is budgeted at an all-in cost of $250 per metre, with 11,660 metres already fully designed and 5,900 metres allocated for follow-up based on results. Other strategic initiatives: aimed at enhancing near real time decision-making to support an optimized and data-driven exploration process. LONDON, ON, June 26, 2025 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce that drilling has officially restarted as part of its fully funded Phase 3 drill program at the B26 Polymetallic Deposit, located in the Abitibi Greenstone Belt, Québec. Following the successful completion of 2,522 metres prior to the spring break, two drill rigs are currently active on-site, and a third scheduled to mobilize in the coming weeks. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). The Phase 3 program represents the Company's most ambitious and technically advanced drill campaign to date, with up to 17,500 metres planned. The primary objective is resource expansion, with secondary goals including infill drilling and resource conversion. The drill program will focus on high-priority extension targets within copper-gold (Cu-Au) and zinc-silver (Zn-Ag) rich zones, further refined and outlined in recent press release (see Press Release June 18 th, 2025: Abitibi Metals Announces Phase 3 Drill Strategy and Growth Model Potential). These zones are central to the company's broader Phase 3 strategy and represent significant opportunities for resource expansion and potential long-term value creation as exploration progresses (see Figure 1: Phase 3 Drill Program - Expansional Targets). "With drills now turning, we've entered an exciting new phase at the B26 Project," said Jonathon Deluce, CEO of Abitibi Metals. "This program is strategically focused on testing near-resource extensions and deeper targets, including the newly defined gravity anomalies that could signal a much larger system at depth. Beyond drilling, we've also restructured our operational approach behind the scenes to enable smarter capital allocation—maximizing the project's organic growth potential and positioning us to deliver stronger and long-term returns for our shareholders. Upon completion of this program, the Company will remain in a strong position heading into year-end, with over 20,000 metres of drilling fully funded for 2026." In addition to the restart of drilling activities, Abitibi Metals has launched a broad range of strategic initiatives aimed at enhancing decision-making and improving capital allocation efficiency. All efforts are aligned under a common goal: to support an optimized and data-driven exploration and development process. This approach will enable the company to more efficiently—and in near real time—evaluate the success of Phase 3 exploration results and allow for timely strategic adjustments to optimized capital allocation. Key initiatives currently underway include: Transition to In-House Operations: The company is moving from a third-party contractor team to an internal operations team. This shift is expected to generate potential cost savings on a dollar-per-metre basis while improving operational continuity and data integration. These benefits are particularly important as the Company continues to refine the B26 geological model and initiates work toward a Preliminary Economic Assessment (PEA). Internal Economic Evaluation and Resource Update: An internal assessment of the project's economic potential is underway, including the incorporation of approximately 16,500 metres of Phase II drilling into an updated B26 internal resource model. This update will serve as a critical input to upcoming economic studies. Building on Phase III initial Drilling Success by targeting High-Prospectivity Zones in the Block Model: The strategic focus is further reinforced by strong early results from the Phase III drill campaign. Highlights include a standout intercept of 4.8% CuEq over 4.1 metres within a broader interval of 1.0% CuEq over 63.2 metres at the B26 deposit (see Press Release June 24 th, 2025: Abitibi Metals Expands Mid-Level High-Grade Copper Zones at B26: 4.8% CuEq Over 4.1m within 63.2m at 1% CuEq). The company believes there is strong potential in several underexplored areas within the current block model, where limited drilling has led to a statistical downgrade of resource grade due to insufficient data. These zones are now being evaluated as highly prospective targets, and increasing drill density in these areas is expected to significantly enhance the overall confidence in the resource quality and grade. Advancing Geophysical Interpretation for Enhanced Targeting: A comprehensive geophysical interpretation process is now underway to refine both regional and deposit-scale drill targeting. At the regional level, following the completion of a high-definition VTEM survey and anomaly picking conducted by Geotech, the company is now integrating multiple datasets—including newly identified gravity anomalies, magnetic interpretations, and updated geological models based on the reinterpretation of historical regional drilling. At the B26 Deposit itself, a substantial amount of downhole electromagnetic (EM) survey data is being consolidated into a unified database. This data is undergoing detailed reinterpretation by a specialized geophysicist, who is analyzing both successful and unsuccessful anomalies to better define the conductivity signature associated with B26-style mineralization. This work aims to pinpoint the potential center of gravity of the mineralized system and to identify a new generation of high-priority drill targets with increased precision and confidence. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Laurent Eustache, GEO, Executive VP of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report : February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
Cision Canada
18-06-2025
- Business
- Cision Canada
Abitibi Metals Announces Phase 3 Drill Strategy and Growth Model Potential
Highlights: Expansion Strategy: The B26 Deposit remains completely open for expansion. Large-scale target areas have been reviewed and prioritized based on their high-grade mineralization potential and proximity to zones with current development potential. This program represents the first large-scale expansional drilling initiative since the Company optioned the B26 Deposit. Exploration Targets: Drilling will target the western and eastern extensions of known mineralized shoots, as well as deeper zones located beneath current resource limits. This includes testing the interpreted and modeled gravity anomaly at depth, first announced in Q1 2025 (see news release: Abitibi Metals Identifies New Drill Targets from Gravity Survey). High-Grade Cu-Au Focus: Priority will be placed on drilling higher-grade Cu-Au shoots, interpreted to plunge approximately 65 degrees west, derived from initial structural analysis of lineation orientations and the spatial distribution of high-grade mineralization within the system. Zn-Ag VMS Zone Delineation: Drilling will also target delineation of the Zn-Py massive sulphide zone, which stratigraphically overlies the Cu-Au stringer system. A south-to-north drilling orientation will be favored to optimize intersection angles and improve geological evaluation of both the Cu-Au and Zn-Ag mineralized systems. High-Impact Drill Program: The growth-driven campaign includes 14 step-out holes targeting areas up to 500 metres beyond the current deposit boundaries, designed to expand the resource with a focus on high-grade zones. If successful, this program could increase the current footprint of the mineralized horizon by more than 70%. LONDON, ON, June 18, 2025 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce the restart of its Phase 3 drill program at the B26 Polymetallic Project, located in the prolific Abitibi Greenstone Belt of Québec. As a reminder, the first four holes of the Phase 3 program—drilled before the spring break—have been completed for a total of 2,522 metres. Results are in hand and currently undergoing QA/QC verification and will be released in the near term. The Summer 2025 campaign will focus primarily on resource expansion and, secondarily, on resource conversion, targeting high-priority zones identified through recent geological modeling and historical exploration success. The Phase 3 drill program is set to restart over the coming days, beginning with two drill rigs and expanding to three, with a total of approximately 17,500 metres planned. Directional drilling technology will be employed to increase targeting accuracy and reduce drilling metres. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). CEO Jonathon Deluce stated: "Phase 3 marks the most ambitious and technically advanced drill campaign in Abitibi's history. With B26 remaining completely open for expansion, our objective is to define additional high-grade mineralization that could significantly increase the scale and potential of the deposit. Backed by a strong technical team, modern exploration tools, and a clear growth strategy, we believe this program represents a transformative opportunity to unlock meaningful value for our shareholders." Drill #1 will begin with new holes targeting the eastern extent of the deposit, while Drill #2 will re-enter historical holes on the western side to test expansional targets up to 80 metres from the original intercepts. Six holes are planned to test wide gaps (greater than 100 metres) within the block model, with the aim of improving estimated grades and/or upgrading Inferred resources to the Indicated category. The majority of the program will focus on expansion drilling outside the existing block model, with 14 holes planned up to 500 metres beyond the current deposit boundaries. To date, 11,660 metres have been fully designed, with an additional 5,900 metres allocated for immediate follow-up. The program is budgeted at an all-in cost of $250 per metre. Directional Drilling: Throughout the program, the Company will utilize directional drilling to enhance the precision of target testing and improve cost efficiencies, particularly in mid-level to deeper areas of the deposit. Initially, eight historical drill holes located near the deposit boundaries have been selected for re-entry. Branch holes from these locations will test extensions up to 80 metres from the original intercepts and known Inferred resource zones. Success in these holes could result in a cost-effective increase to the Inferred mineral resource. New primary holes will be complemented by an 80-metre spaced grid of secondary branch holes, with a focus on delineating high-grade mineralized zones. This will maximize the budget while increasing drill coverage with step-out drilling up to 500 metres from the limit of the B26 Deposit. Growth Potential: Should the Phase 3 drill program achieve its targeted objectives, the Company believes there is strong potential for a significant increase in the overall mineral resource inventory at the B26 Project. Based on the 2024 block model prepared by SGS and current geological interpretations, the Company believes that strategic step-out drilling targeting extensions of high-grade Cu-Au and Zn-Ag zones could significantly expand the known mineralized system. If successful, this program could increase the current footprint of the mineralized horizon by more than 70%. The Company further believes that the strength of the alteration system, combined with the current scale of the Cu-Au stringer zone, suggests the presence of a more substantial, yet undiscovered, source of mineralization. This phase of drilling aims to identify that source, with a focus on testing: Gravity anomalies identified at depth and to the east of the deposit, Eastern shoot expansion, where strong high-grade intercepts remain open at depth. These occur in close proximity to a Proterozoic diabase dyke—typically a good indicator of deep structural controls. Western extension at depth along the main shoot, where broad and high-grade intercepts were encountered in 2024 drilling (e.g., Hole #338W1 returned 2.4% CuEq over 17.5 meters). Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. RSU Issuance: The Company has granted an aggregate of 600,000 restricted share units ("RSU") to officers and directors of the Company which will vest equally over three years, with the first vesting occurring after 10 months. Each vested RSU entitles the holder to receive one common share of the Company pursuant to the Company's Omnibus Equity Incentive Plan. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. About SOQUEM: SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report : February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
