Abcourt Mines Inc.
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Abcourt Mines Inc.

June 15, 2010 15:09 ET

Abcourt Mines inc.: Excellent Results Obtained in Surface Diamond Drilling on Elder Gold Property

MONT-ST-HILAIRE, QUEBEC--(Marketwire - June 15, 2010) - Mr. Renaud Hinse, president and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI), is pleased to announce that excellent results have been obtained in surface diamond drilling on the Elder Gold Property, as follows:

Hole
No
From
M
To
M
Length
meters
Gold
grams/tonne
E10-01

E10-02


E10-07
inc
134.15
175.17
186.47
199.50
201.87
287.95
288.56
135.15
176.04
187.70
201.87
208.00
290.97
289.79
1.00
0.87
1.23
2.37
6.13
3.02
1.23
4.86
5.82
7.60
8.24
2.40
10.01
20.86

All assays were done by Techni-Lab S.G.B. Abitibi inc., an approved laboratory.

The first two holes were drilled vertically beyond the mine workings on the fifth level. They indicate a strong potential for the continuation of the mineralized zone to the east. Hole E10-07 was drilled vertically 30 meters south of the 7th level at the west end of the mine. Excellent values were obtained over a good width. This hole confirms the extension at depth of a high grade gold zone.

In the past (1944-1964), the Elder mine produced 350,000 ounces of gold.

In July 2009, a revision of the resources for the Elder property was completed by an independent qualified person, Mr. Jean-Pierre Bérubé, P. Eng., consultant from Trois-Rivières, Quebec, Canada. This revision was made according to NI 43-101 Standards.

Here is a summary of the non-diluted resources -Converted to metric:

Cut-off grade 3.8 grams/tonne     5.1  grams/tonne  
Description Tonnes Au
gr/t
 Ounces   Tonnes Au
gr/t
 Ounces
Measured 402,286 6.5 83,635   256,379 7.7 63,736
Indicated 402,742 6.6 85,502   287,296 7.7 71,422
Measured & Indicated 805,028 6.5 169,137   543,675 7.7 135,158
Inferred 237,289 6.1 46,722   159,704 7.2 37,067

Our objective with the current drilling programme is to expand these resources.

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. A 43-101 resource calculation was recently done for the Elder mine. To know more about Abcourt, please consult our web site www.abcourt.com and Sedar www.sedar.com, 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
    819-768-2857/450-446-5511
    Fax: 819-768-5475/450-446-3550
    rhinse@abcourt.com
    or
    Abcourt Mines inc.
    Jeffery P. Boykin
    Investor's Relations
    252-299-2115
    jboykin@abcourt.com