Abcourt Mines Inc. is a junior mining company with excellent operating potential for gold, silver and zinc. Among its many assets all located in Abitibi, Quebec, it has an operating gold mine advantageously located in the mining community of Rouyn-Noranda, a processing plant with a capacity of 750 tonnes / day, an advanced project for zinc and silver mining and a large portfolio of exploration properties
Imagine buying 1,335,960 common shares at a price of $0.13 per share and 1,744,000 common shares at a price of $0.16 per share. It’s an extremely good bargain since Abcourt mines is also and emerging junior gold producer which has a target of
Producing at their Elder Mine: 18,00 to 20,000 ounces/year and with their Sleeping Giant mine: 18,000 to 22,000 ounces/year. That’s like producing 36,000 to 42,000 ouncer/year and I’m sure once they reach that target their stock price will become so expensive.
Moreover they’re gonna use it to drill the Flordin property which consists of 25 cells covering 976 hectares (5.9 km2 ).100% owned by Abcourt. In 2011, the project was re-assessed by Cadiscor Resources Inc. with an open pit plan. Again, the Company is prohibited to publish these results.
During the 2018 fall, Abcourt completed a drilling campaign on the Discovery and Flordin properties (respectively 12 holes for 2,742 meters and 5 holes for 921 meters. The main results of these drilled are provided in the
The best results are as follows:
Hole No. From To (m) Au(g/t)
FL18-253 123.00 126.15 3.15 1.95
FL18-254 38.25 40.35 2.10 6.49
" 47.70 51.20 3.50 22.63
FL18-255 81.00 82.00 1.00 2.94
Hole FL18-254 was aimed at finding an extension along dip of a gold value of 103.7 g/t Au over 1.0 meter in hole FL11-251. The latter is located between the Flordin zone and the Cartwright showing where NAP Quebec drilled short holes on several sections, 50 meters apart. True width is about 70% of core length. The FL18-254 hole intersected two gold zones. The first one, from 38.25 to 40.35 meters is located in the bottom part of a sheared basalt associated with a silicified and hematized zone that may contain up to 3% pyrite. The second zone, from 47.7 to 51.2 meters, is also located in the sheared basalt, with ankerite-hematite alteration and 8% of disseminated fine pyrite. This sector is the most promising of the 2018 drilling by Abcourt. The high grade found in hole FL18-254, that is 6.49 g/t Au over 2.1 meters and 22.63 g/t Au over 3.50 meters, confirm the excellent results given by hole FL11-251, that is 7.98 g/t Au over 2.10 meters and 103.10 g/t Au over 1.0 meter drilled in 2011. Even if these values are not connected, this sector indicates a good potential for several reasons:
1) Results in hole FL18-254 are the most encouraging found since 2011 on the Flordin property;
2) The pyrite mineralization is found in a strongly altered zone with ankerite and hematite;
3) The Gold enrichment zone is not associated with quartz-carbonate veinlets in the basalt shear zone. The latter is sometimes magnetic;
4) The structure is open laterally and at depth.
And also great news because finally Abcourt has received permits for Sleeping Giant mine. They just recently resumed mining the Sleeping Giant mine and it’s a good start to receive explosive permits because we all know that the Sleeping Giant mine has a capacity to treat 700 to 750 tonnes per day. Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated resources total 475,625 tonnes with a grade of 11.20 g/t of gold. Inferred resources are 93,100 tonnes with a grade of 11.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB Mining Services Inc.
So imagine buying a stock for a mining company that has a lot of potential.
