お知らせ • Nov 14
Abitibi Metals Announces Updated Resource Estimate for B26 Polymetallic Deposit
Abitibi Metals Corp. announce the results of an updated resource estimate for the B26 polymetallic deposit and maiden resource published by Abitibi Metals which includes 13,510 meters drilled across 44 holes from the 2024 Phase 1 drill program. The Company is fully funded with $13.0 million to complete the remaining 2024 Phase 2 work program and an additional 20,000 metres of diamond drilling in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the option. On November 16th, 2023, the Company entered into an option agreement on the B26 Deposit to earn 80% over 7 years from SOQUEM Inc. Two main types of mineralization characterize the volcanogenic B26 deposit. The northern part of the deposit is characterized by chalcopyrite veins hosted in sericitized and chloritized rhyolite. The southern portion contains mostly disseminated and massive sphalerite and pyrite and mineralization, hosted in parallel, east striking horizons of rhyolite affected by a silica-sericite-chlorite alteration zoning that dips steeply to the south. The significant increase in resource and total contained metal is due to: A more refined 3D mineralization model which includes updated commodity prices. The methodology remains consistent with the 2018 estimation. A more detailed examination of the model allowed for better linking of mineralized intercepts. The new drilling completed in 2024 which totaled 13,510 metres over 44 holes in Phase 1. The Company conducted a detailed analysis of both an open pit and underground mining scenario and concluded that an underground-only model crystallizes the most immediate value. Despite this, management still believes there is strong support for an open pit. To fully realize this potential at surface, additional work is required to refine the open-pit model, including further drilling, sampling of historical core—where large zones of disseminated mineralization remain untested—and sonic drilling to investigate a potential layer of oxidized overburden containing mineralization just above bedrock, similar to observations at the Selbaie Mine. are committed to advancing both approaches to maximize the resource potential of the B26 Deposit. 62% Increase in Indicated Resources: The B26 Deposit's indicated resources have grown to 11.3 million tonnes, marking a 62% increase. With zones remaining open along strike and dip, the Company believes there are significant opportunities to keep growing the overall contained metal inventory. 63% Increase in Inferred Resources: Inferred resources have also grown by 63%, reaching 7.2 million tonnes, with notable copper and gold grades. This expansion in inferred resources supports the deposit's high-grade nature and the ability to bring in additional material that is currently outside of the known resource. Reaching Critical Mass: The resource highlights a contained metal inventory of 307.9 Mlbs of copper, 316.9 Mlbs of zinc, 168.2 koz of gold, and 11.6 Moz of silver in the indicated category, and 246.0 Mlbs of copper, 27.3 Mlbs of zinc, 200.8 koz of gold, and 1.7 Moz of silver in the Inferred category. Open for Future Expansion: The B26 Deposit remains open at depth and along strike, suggesting further opportunities for organic resource growth from ongoing exploration, part of the Company's 16,500-meter Phase II drill program. Strategic Underground-Only Model: The focus on an underground-only mining model crystallizes immediate value given the higher-grade nature of the resource. plan to conduct further work to better understand and outline this zone, which could enhance the resource's versatility and add significant optionality in the future. Supported by Strong Financials: With $13 million in funding, Abitibi Metals is fully financed to complete its 2024 work program and plans an additional 20,000 meters of drilling in 2025, ensuring that resource expansion and project progression continue steadily. Resources were estimated using the following parameters: The database includes 298 drill holes for a total of 129,184 metres. Of these, 48 were drilled in 2024 by Abitibi Metals (including 4 that did not reach the bedrock), 191 were drilled by SOQUEM from 2013, and 63 are considered historical. The database includes 50,648 assays with an average core length of 1.29 metres per sample for a total assayed length of 65,200 metres. Core drilled by Abitibi Metals and SOQUEM is NQ-sized and was assayed by Actlabs in 2014, AGAT in 2015 (re-sampling), ALS in 2016-2017, and AGAT in 2024. The resource estimate was performed using inverse-distance squared (ID2). Block size is 10 x 2 x 10 m. The model was built using 84 cross-sections with a variable spacing of 8 to 50 metres depending on data density (average spacing of 20 metres). A total of 36 solids were modeled, of which 26 were considered as the Feeder Cu, 3 for the Horizon Zn, and 7 for the Remob Ag-Zn. Minimum intercept length in a drill hole is 3 metres, which approximately corresponds to 2 metres of horizontal thickness. Capping was used for all variables. Cu was capped at 10%, with only 2 composites capped, resulting in a metal content loss of 0.5%. Zn was capped at 20%, with only 2 composites capped, resulting in a metal content loss of 0.6%. Au was capped at 18 g/t, with only 2 composites capped, resulting in a metal content loss of 2%. Ag was capped at 800 g/t, with only 6 composites capped, resulting in a metal content loss of 3%. Pb was capped at 2%, with only 3 composites capped, resulting in a metal content loss of 2%. Rock density is 2.8 for Feeder Cu and Remob Ag-Zn solids. Density is 2.95 for Horizon Zn solids. These values are based on 2,349 measurements by SOQUEM between 2013 and 2017. This parameter was unchanged from the 2018 MRE. Parameters used for the Underground Mining Scenario are: Prices: Cu: 9,370 $/t (4.25 $/lb) Zn: 2,976 $/t (1.35 $/lb) Au: 2,000 $/oz Ag: 26 $/oz Pb: 1.00 $/lb Costs: Underground ore mining: $60.50/t Processing: $24/t G&A: $1.5/t Mining recovery: 90% Milling recovery: Cu: 98.3 %, Zn: 96.1 %, Au: 90 %, Ag: 72.1 % and Pb: 44 % Mining dilution: 10% Royalty: 0% Waste density: 2.8 The formula to calculate the in-situ value is the following: 92.11 ($/%) x Cu(%) + 28.6 ($/%) x Zn(%) + 57.87 ($/g) x Au (g/t) + 0.603 ($/g) x Ag (g/t) + 9.7 ($/%) x Pb(%) Small zones of estimated mineralized material were excluded from the MRE figures, as they may not be substantial enough to justify underground development. Further details regarding the 2024 mineral resource estimate, key assumptions, parameters and methods used to estimate the mineral resources of the B26 Deposit will be available on SEDAR Plus under the Corporation's issuer profile within 45 days in accordance with NI 43-101.