Abcourt Mines Inc. (TSXV: ABI) has announced its first mineral resource estimate (MRE) for its wholly owned Flordin gold project in the Abitibi greenstone belt of Quebec, Canada. The project is located 85km east of its Sleeping Giant processing plant.
The new MRE shows the results of over 73,000m of drilling and uses a base case valued at a gold price of US$1,650/oz. The measured and indicted resources have 134,700oz of gold in 1.75Mt averaging 2.39g/t gold. The inferred resource has 59,700oz of gold in 575,000t at 3.23g/t gold.
“We are pleased to now own a third deposit with a mineral resource estimate near our Sleeping Giant mill,” Abcourt president and CEO, Pascal Hamelin said.
“With our (Sleeping Giant) ore processing plant having all its permits, processing, and storage capacity, Abcourt has the potential to become a significant producer in a mining camp without any mill and several orphan deposits belonging to several companies.”
Abcourt broke down the numbers into three potential mining methods for the measured and indicated resources. An open pit would be established to mine 107,000oz in 1.5Mt. Long hole mining could potentially recover 27,500oz in 227,000t. Finally, room and pillar methods might be used to recover 200oz in 1,000t.
The Sleeping Giant mill is currently on care and maintenance. It was restarted in August 2016 to process ore from the Elder mine and for custom milling. It has a capacity of 700t to 750t per day.
This MRE and the 3D model of the veins and the mineral structures will provide a basis for future exploration this coming summer with the aim of exploring the extensions of the deposit and potentially increasing the mineral resources.
For further information please visit: www.abcourt.ca/en/