Abcourt Mines Inc.

Abcourt Mines Inc.

March 01, 2010 15:25 ET

Abcourt First 2010 Drilling Results Confirm New Linaur Ore Zone and Extend West Gold Zone on Elder-Tagami Property

MONT-ST-HILAIRE, QUEBEC--(Marketwire - March 1, 2010) - Mr. Renaud Hinse, president and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI), is very pleased to announce that the first results from the 2010 drilling program on the Elder–Tagami property have been received.

The Tagami part of the property, consists of 10 claims covering 329 hectares in Duprat Township, at the northern limit of the Elder mine, and 10 kilometers northwest of Rouyn-Noranda, Quebec, Canada. On the adjoining Elder property, 43-101 resources have recently been calculated by an independent geological engineer. The measured and indicated resources total 805,028 tonnes with a grade of 6.5 grams of gold per tonne. The inferred resources stand at 237,289 tonnes averaging 6.1 grams of gold per tonne. In both cases, a cut-off grade of 3.8 grams of gold per tonne was used.

Following the $2.3-million dollars financing realized in December 2009, our objectives are to increase substantially our gold resources by diamond drilling on surface and to dewater the Elder mine.

The first three holes were drilled on the Linaur zone which was discovered by diamond drilling in 1990 and 1991. This zone is located about 350 meters east of the West gold zone which will be described later. At that time, four holes intersected gold values. The best one was hole Li90-01 drilled at -50˚ on an azinut of 235˚ which intersected two zones as follows;

  From M To M Length meters Gold grams/tonne
  208.43 212.40 3.97 5.08
inc 210.40 212.40 2.00 7.18
  220.40 224.05 3.65 5.07
inc 222.00 224.05 2.05 6.74

With our 2010 program, we drilled three additional holes in that area and extended this new zone to the north-east. All holes intersected the usual zone of alteration with silicification and hematization with stringers of quartz and pyrite. The best values were obtained in the most northerly hole, L10-2, drilled vertically, which intersected 1.5 meter from 141.16 to 142.66 meters, grading 5.57 grams of gold per tonne. The zone has a dip of about 20˚, so core length and true width are about the same.

Then, we moved the drill to the West Gold zone where in 1996-1997, a diamond drilling program consisting of 2,900 meters, outlined an exceptionally high grade gold-bearing zone. The geological setting of this area is similar to that of the Elder mine.

Eleven holes, spaced 38 to 46 meters apart, indicate a continuous high grade mineralization with an average grade of 18.2 grams of gold per tonne over a width of 1.62 meter. Two of the drill holes assayed more than ONE OUNCE of gold per tonne over widths of 2.35 and 1.71 meters.

Most of the intersections were obtained at shallow depths between 46 and 107 meters. The deepest cut was at a depth of 255 meters. Our objective there is to confirm and to extend this gold zone with a drilling pattern tight enough that will enable us to have a 43-101 resource calculation by an independent engineer or geologist.

On the West Gold zone, a base line was established with a bearing of N-51˚-E and sections at right angle, are spaced 30 meters apart. So far, we have received results from four holes, all drilled vertically. Results are as follows:

Hole   Distance to base From To Length Gold grams
No. Line line meters meters meters meters /tonne
95 N
90 N
60 N
60 N
110 N
146 N
  95 N
128 N

The time needed to get assay results from a drill hole is close to one month, more if high assays have to be checked. As we expect to drill more than 50 holes, the seven holes for which results have been received represent only a small portion of the drilling that will be done.

All assays were done by Technilab S.G, an approved laboratory.

Abcourt Mines Inc. is an exploration and development company with strategically located properties in Northwestern Quebec, Canada. The Abcourt-Barvue project with 43-101 silver-zinc ore reserves and resources and the Elder mine with 43-101 gold resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Abcourt-Barvue and Elder projects back in production and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment was purchased. In addition, a 43-101 resource calculation was recently done for the Elder mine. To know more about Abcourt, please consult our web site and Sedar, see "Abcourt Mines Inc". A small location plan and longitudinal projection of the Aldermac mineralized zones are shown on our web site. A small location plan of the Elder and Tagami properties is also shown on our web site.

FORWARD-LOOKING STATEMENTS: Except for statements of historical facts, all statements in this news release, including, without limitation, statements regarding forecasts, plans and objectives of Abcourt Mines Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. This press release was prepared by Mr. Renaud Hinse, a qualified person, president of Abcourt Mines Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Abcourt Mines Inc.
    Renaud Hinse, president
    819-768-2857 or 450-446-5511
    819-768-5475 or 450-446-3550 (FAX)