Abcourt Mines: Modified 43-101 Report on the Sleeping Giant Resources
TSX VENTURE: ABI
Rouyn-Noranda, Quebec, Canada / TheNewswire / May 13, 2019 - The 43-10 report on resources for the Sleeping Giant mine was modified and re-filed today with a certificate by a new qualified person. Here is a list of the modifications made:
Item 4 - Environmental obligations to which the site is subject and permits needed to realize the projected work have been outlined.
Item 5 - Considering that there are production infrastructures on the property, additional information is given on the mill, tailings pond and other infrastructures on the property. A plan with the location of infrastructures is added.
Item 6 - Several estimate of resources or reserves are given in the report without any caution. It is specified that the qualified person has not done any work to classify these resources or reserves in actual mineral resources or in actual mineral reserve. The issuer does not consider the resources or reserves estimated in the past as actual mineral resources or actual mineral reserves.
Item 10 - At this item, we have added a description of the drilling completed to-date on the property and a map was added showing the extent of the drilling on the property,
Item 13 - We have added a table showing the mine production and a table showing the mill production for the twenty-seven years of operation and results obtained.
Item 14 - The plan showing the calculation of resources has been replaced with a plan at a larger scale to facilitate the reading of the information.
Item 25 - For this item, we have added a discussion on risks and uncertainties susceptible to have an impact on the reliability of the information on the mineral resources or on the trust that may be given.
These modifications are now incorporated in the technical report filed today.
The calculation of resources has not been modified:
measured and indicated resources are 486,000 tonnes with a grade of 11.20 g/t gold
inferred resources are 93,100 tonnes with a grade of 11.85 g/t gold.
The review of historical data is continuing and giving excellent results which will be published in our next press release.
The qualified person has given his consent to the issue of this press release.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018) and a positive P.E.A. study (2012). Abcourt is focusing on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver-zinc reserves (2019). A feasibility study was completed in 2007 by Roche / Genivar. An update was completed in January 2019.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government. The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate was recently filed. A modified report of resources was prepared by Mr. Valere Larouche, geological engineer.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt's profile on www.sedar.com.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a "Qualified Persons" under the terms of Regulation 43-101. Mr. Hinse has approved the scientific and technical disclosure.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt' annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.
For more information, please contact:
Renaud Hinse, President and CEO
T : 819 768-2857 450 446-5511
F : 819 768-5475 450 446-3550
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
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.