Abitibi Metals Extends High-Grade Central Lens Through Infill Drilling at the B26 Polymetallic Deposit


A 13,500-metre maiden drill program was completed at the high-grade Polymetallic B26 Deposit; 44 holes were drilled with assays pending from 34 holes.
Drillhole 1274-24-339 was designed to test the lateral extension of the high-grade lens identified in holes 1274-24-293 and 294, which were released on . These holes intercepted 4.0% CuEq over 22.7 metres (293), including 6.3% CuEq over 10.6 metres, and 4.1% CuEq over 34 metres (294), including 11.4% CuEq over 10.6 metres.
Drillhole 1274-24-339 intercepted mineralization 20 metres east of 1274-24-294, with a 106.5-metre interval of strong stringers observed from 83.0 to 189.5 metres, corresponding to a vertical depth starting about 20 metres below the bedrock contact. The potential down-dip extension of this high-grade lens remains open.

LONDON, ON, April 26, 2024– () () (FSE:FW0) (“Abitibi” or the “Company”) is pleased to provide an update on the 13,500 metre maiden drill program at the B26 Polymetallic Deposit (“B26”, the “Project” or the “Deposit”) completed under the first phase of a fully funded 30,000-metre 2024 field season. Abitibi Metals is fully funded with $18.5 million to complete the remaining 16,500 metres planned for the 2024 work program and an additional 20,000 metres 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 (see news release dated November 16, 2023).
The Company has identified significant semi-massive and massive sulphides in infill drilling at the Central Lens of the B26 Polymetallic Deposit, where it recently announced some of the highest-grade intercepts in the Project’s history, including 11.4% CuEq over 10.6 metres at 135 metres depth in 1274-24-293 and 6.3% CuEq over 10.6 metres at 120 metres depth in 1274-24-294.
Figure 1 – 1273-24-339: 82.0 – 87.8 metres (CNW Group/Abitibi Metals Corp.)
Drillhole 1274-24-339, advanced to test the immediate extension 20 metres east of the high-grade lens identified in #293 and #294, intercepted copper mineralization concentrated in separate bands varying in thickness from 0.4 to nearly 4 metres with chalcopyrite volume evaluated between 10% and 60% and forming a 106.5 metres long interval of mineralization observed from 83 to 189.5 metres.
Figure 2 – 1273-24-339: 152.55 – 169.65 metres (CNW Group/Abitibi Metals Corp.)
Figure 3 – 1273-24-339: 169.65 –185 metres (CNW Group/Abitibi Metals Corp.)
Jonathon Deluce, CEO of Abitibi Metals, commented, “The drilling at B26 continues to deliver exceptional observations of continuity of visual copper mineralization, and #339 extends the high-grade lens outlined in #294 laterally, 20 metres to the east. This hole continues to add to the goal of better defining the high-grade lens while also outlining the lower-grade near-surface halo, supporting our bulk-tonnage open pit target. We look forward to releasing our next batch of results early next week. With the copper price breaking out, projects like B26, located in the world-class jurisdiction of Quebec, stand out globally for their potential to deliver critical metals at a time when there is a clear rising need for copper.”

Note: 1274-24-340 was initially planned to test the westward lateral extension and down dip from 1274-24-294 and expand its influence. Unexpected levels of drill deviation brought the trace back to the proximity of 1274-24-294.
Qualified Person

Information contained in this press release was reviewed and approved by Martin Demers, P.Geo., OGQ No. 770, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.
Investor Relations Agreement

Additionally, Abitibi announces that it has engaged Fairfax Partners Inc. (“Fairfax”) for a one-month term to provide social media marketing services to assist in the Company’s marketing efforts and market presence. The services include content development, social media campaign and analytics. Fairfax will be compensated C$32,880 (plus GST) for their services during this period. Abitibi will not issue any securities to Fairfax as compensation for its marketing services. As of the date hereof, to Abitibi’s knowledge, Fairfax (including its directors and officers) does not own any securities of Abitibi and maintains an arm’s-length relationship with the Company.
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