Mr. Yves Rougerie of Abitex reports
ABITEX AND CONTINENTAL NICKEL REPORT NEW ASSAYS INCLUDING 3.02% NICKEL AND 0.56% COPPER OVER 3.65 METRES AT THE ST. STEPHEN NICKEL-COPPER SULPHIDE PROJECT, NEW BRUNSWICK
Abitex Resources Inc. and Continental Nickel Ltd. have released final assay results from the 2012 drilling
program on the St. Stephen nickel-copper project in New Brunswick, Canada. The results confirm additional nickel sulphide
mineralization at the G and Hanson Brook zones as well as newly
discovered nickel sulphide mineralization at the Todd Mountain target.
Continental has an option to acquire up to a 75-per-cent interest in the project
under the terms of an agreement with Abitex, and is the operator during
the earn-in period.
- G zone -- 1.17 per cent nickel and 0.44 per cent copper over 28.1 metres, including
2.5 per cent nickel and 0.55 per cent copper over 3.5 metres and 3.02 per cent nickel and
0.56 per cent copper over 3.65 metres;
- Hanson Brook -- 2.19 per cent nickel and 1.12 per cent copper over 1.3 metres, and 2.28 per cent
nickel and 0.69 per cent copper over 1.9 metres;
- Todd Mountain -- 0.53 per cent nickel and 0.33 per cent copper over 2.15 metres, and 0.8 per cent
nickel and 0.24 per cent copper over 1.95 metres.
All intersections reported here are core lengths and may not represent
Yves Rougerie, president and chief executive officer of Abitex, commented: "We are very
pleased with these most recent results as Continental continues to
successfully advance the St. Stephen project. We are very encouraged by
the recent drilling results that have returned the highest nickel
grades intersected to date on the property. Successive exploration
programs confirm that EM [electromagnetic] surveys are very effective at targeting the
highest-conductance and most sulphidic portions of the intrusion which
host the economic mineralization. The best nickel grades obtained so
far are associated with mineralization occurring at or near the
northern gabbro-metasediment contact in the vicinity of the Hanson
Brook, G, Triple J and Roger's Farm zones, and this area will be a focus
of future exploration programs by Continental at St. Stephen."
Continental commenced a diamond drilling program in early December, 2011,
to test newly defined EM targets identified in the
2011 airborne EM survey and to further test nickel-copper
mineralization intersected at the G zone (see press release dated Dec.
2, 2011). Five drill holes totalling 772 metres and borehole
EM (BHEM) surveys were completed in December, 2011, and
included the discovery of a previously unknown nickel-copper sulphide
occurrence grading 2.35 per cent nickel and 1.06 per cent copper over 5.45 metres at
Hanson Brook (see press release dated Jan. 25, 2012).
The drilling program resumed on Jan. 17, 2012, and seven holes totalling 893.5 metres were completed in January
and February, 2012, with BHEM surveys completed in each of the holes.
Assay results are reported herein for the seven holes completed in 2012
(see accompanying table).
Two holes, SSD12-018 and 019, were completed to test for continuity of
gabbro-hosted mineralization on an infill section between previous
holes SSD10-003 (1 per cent nickel and 0.29 per cent copper over 9.3 metres -- see press
release dated Aug. 18, 2010) and SSD11-011 (0.68 per cent nickel and 0.41 per cent
copper over 58.2 metres -- see press release dated Jan. 25, 2012).
Hole SSD12-018 was drilled 55 metres northwest of hole SSD10-003, and
intersected mineralized gabbro from 4.5 to 86.6 metres before ending
at 118 metres in metasedimentary rock. The hole collared in massive
sulphides from 4.5 to five metres and intersected a second massive
sulphide zone from 5.5 to 6.7 metres. Assay results returned 1.06 per cent
nickel, 0.26 per cent copper and 0.1 per cent cobalt over 2.2 metres from 4.5 to 6.7
metres. A much wider interval of blebby, net-textured, semi-massive and
massive sulphide mineralization was intersected over 28.1 metres from
58.5 to 86.6 metres grading 1.17 per cent nickel, 0.44 per cent copper and 0.08 per cent
cobalt, including 2.5 per cent nickel, 0.55 per cent copper and 0.15 per cent cobalt over 3.5
metres and 3.02 per cent nickel, 0.56 per cent copper and 0.24 per cent cobalt over 3.65
metres. Individual massive sulphide samples from this hole returned
nickel grades of up to 3.43 per cent, the highest grades obtained to
date on the St. Stephen property. In addition, one 0.6-metre-long
massive sulphide sample from 86 to 86.6 metres returned 863 parts per billion
palladium and 270 ppb platinum, which represents the first occurrence of
significantly elevated platinum group metals seen on the St. Stephen
Drill hole SSD12-019 was drilled 50 metres downdip of hole SSD12-018,
and intersected intermixed metasedimentary rocks and very weakly
mineralized gabbro that did not return any significant assays.
Drilling to date has tested the G zone over a strike length of 100
metres and a plunge extent of 175 metres. This near-surface, partially
eroded sulphide zone trends north-south, dips 50 degrees to the west and
plunges at 55 degrees to the northwest. Additional ground EM
surveys are planned to further define the down-plunge extent of G zone
to the north.
Hanson Brook target
In late 2011, drill hole SSD11-013 intersected a previously undiscovered
zone of massive sulphide mineralization that graded 2.35 per cent nickel and
1.06 per cent copper over 5.45 metres (see press release dated Jan. 25,
One hole, SSD12-020, was completed in January to follow up the Hanson
Brook discovery. Hole SSD12-020 was positioned to test the Hanson Brook
target 50 metres along strike to the north of SSD11-013, and was
targeted using both airborne and borehole EM data. SSD12-020
intersected a mix of mineralized gabbro and metasedimentary rock.
Massive sulphides were intersected over 1.3 metres from 46.55 to 47.85
metres grading 2.19 per cent nickel, 1.12 per cent copper and 0.15 per cent cobalt at a
gabbro-metasediment contact. A second interval of remobilized massive
sulphides was intersected in metasediments over 1.9 metres from 61
to 62.9 metres grading 2.28 per cent nickel, 0.69 per cent copper and 0.09 per cent cobalt.
Borehole EM data indicate that the main conductive target occurs at the
gabbro-metasediment contact and that an off-hole anomaly is located
updip to the east.
Todd Mountain target
In late 2011, two holes, SSD11-014 and SSD11-015, were drilled to test a
previously untested, one-kilometre-plus-long airborne EM anomaly located in
the southwestern portion of the St. Stephen intrusion, where no
previous drilling has been carried out. Both holes intersected
intrusive gabbroic rocks, but failed to intersect an EM conductor and
did not return any significant assays. Borehole EM surveys were
conducted and strong off-hole anomalies were detected in the immediate
vicinity of both holes.
SSD12-016 was drilled to test the strongest BHEM conductor, and targeted
an area 50 metres to the south of SSD11-015. Drill hole SSD12-016
intersected a mix of mineralized gabbro and metasedimentary rock,
including narrow intervals of net-textured, semi-massive and massive
sulphides. A 34.15-metre-long interval from 17.35 to 51.5 metres
returned elevated metal values averaging 0.21 per cent nickel, 0.12 per cent copper and
0.03 per cent cobalt, including 0.53 per cent nickel, 0.33 per cent copper and 0.07 per cent cobalt over
2.15 metres and 0.81 per cent nickel, 0.3 per cent copper and 0.1 per cent cobalt over 1.05
metres. An additional zone of mineralized gabbro containing
semi-massive sulphides was intersected from 67.4 to 69.35 metres and
graded 0.8 per cent nickel and 0.24 per cent copper over 1.95 metres. The
intersections in hole SSD12-016 represent the first occurrence of
nickel sulphide mineralization in the southwestern portion of the St. Stephen intrusion.
The BHEM survey in hole SSD12-016 confirmed that the off-hole BHEM
anomaly targeted from previous holes was intersected and is interpreted
to have a strike length of approximately 80 metres.
However, airborne EM data identified spatially related EM anomalies
that are untested over an additional strike length of over one kilometre in the
Todd Mountain area.
Drill hole SSD12-017 was drilled to test a new airborne EM anomaly
located 1.2 kilometres north of the Todd Mountain target in the
southwestern portion of the St. Stephen intrusion. The drill hole
intersected mineralized gabbro with several narrow intervals of
metasedimentary rock. Blebby sulphides occur in varying concentrations
within the gabbro, but did not return any significant assays. BHEM
results indicate that a weak conductor was intersected, and that two,
more conductive off-hole anomalies are located to the west and
southwest of the hole.
Drill hole SSD12-021 was drilled to test a new airborne EM anomaly in
the central portion of the St. Stephen intrusion. Hole SSD12-021
intersected mineralized gabbro throughout the hole, including
disseminated, blebby and narrow stringers of pyrrhotite mineralization,
but did not return any significant assays. The BHEM survey confirmed
that the original target was intersected, but also identified an
Drill hole SSD12-022 was drilled to target the northern, untested end of
a one-kilometre-plus-long airborne EM anomaly located in the central part of
the St. Stephen intrusion in area of mapped peridotitic rocks. The
southern portion of this airborne anomaly was tested by historic
drilling that intersected up to 0.43 per cent nickel and 0.21 per cent copper over
2.77 metres. SSD12-022 collared in peridotite containing variable
amounts of disseminated to net-textured sulphides between 3.85 and
111.25 metres, and ended at 167 metres in a mix of weakly mineralized
gabbro and anorthosite. Hole SSD12-022 did not return any significant
assays, and the mineralized peridotite typically contained less than 0.2 per cent nickel.
The information in this release has been reviewed and approved by Yves
Rougerie, Geo, president and CEO of Abitex. Mr. Rougerie is a
qualified person as defined by National Instrument 43-101.
The quality control, technical information and all aspects of the St. Stephen property exploration program are supervised by Patricia
Tirschmann, PGeo, vice-president of exploration for Continental. Ms.
Tirschmann is a qualified person as defined by National Instrument
SUMMARY OF RECENT ASSAY RESULTS, ST. STEPHEN PROJECT, NEW BRUNSWICK
Drill hole Length From To Interval Ni Cu Co
(m) (m) (m) (m) (%) (%) (%)
018 118.0 4.50 6.70 2.20 1.06 0.26 0.10
15.50 18.05 2.55 0.57 0.47 0.04
58.50 86.60 28.10 1.17 0.44 0.08
Including 73.90 77.40 3.50 2.50 0.55 0.15
82.95 86.60 3.65 3.02 0.56 0.24
019 155.0 NSV NSV NSV
Hanson Brooke target
020 134.0 44.65 47.85 3.20 1.02 0.59 0.07
Including 46.55 47.85 1.30 2.19 1.12 0.15
61.00 63.40 2.40 1.94 0.88 0.07
Including 61.00 62.90 1.90 2.28 0.69 0.09
Todd Mountain target
016 91.0 17.35 51.50 34.15 0.21 0.12 0.03
Including 41.00 43.15 2.15 0.53 0.33 0.07
And 48.05 49.10 1.05 0.81 0.30 0.10
67.40 69.35 1.95 0.80 0.24 0.09
017 127.5 NSV NSV NSV
021 101.0 NSV NSV NSV
022 167.0 NSV NSV NSV
NSV stands for no significant values.
Intervals represent core lengths, not necessarily true widths.
Platinum, palladium and gold assay results are not reported because, in general, they
are less than one g/t on a combined basis.
We seek Safe Harbor.