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Abcourt Mines Inc
Symbol ABI
Shares Issued 288,703,070
Close 2018-04-24 C$ 0.055
Market Cap C$ 15,878,669
Recent Sedar Documents

ORIGINAL: Abcourt issues Elder, Tagami NI 43-101 resource update

2018-04-25 10:18 ET - News Release

Received by email:

File: Press Release - April 2018 Update of 43-101 resources for Elder mine and Tagami property.docx


FOR IMMEDIATE RELEASE
TSX Venture - ABI.V 
April 25, 2018


UPDATE OF 43-101 RESOURCES FOR ELDER MINE AND TAGAMI PROPERTY
___________________________________________________

Mont-St-Hilaire, Quebec, Canada, April 25, 2018

Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfur
--->t Stock Exchanges: AML-FF) ("Abcourt" or the "Company") is please to announce that a NI 43-101 update report of resour
--->ces on the Elder mine has been prepared by Jean-Pierre Berube, engineer,  independent consulting geologist and a Quali
--->fied Person according to NI 43-101, with pertinent experience in this domain. This update was done in three parts.

The first part is inside the limits of mining concession 363 and covers the upper part of the mine, from the 10th leve
--->l to surface.

The second part covers the lower part of the mine, below the 10th level. This update was prepared for an application t
--->o have a mining lease.

The third part is located immediately to the North of the Elder mine and was incorporated in the 2012 calculations of 
--->resources.

See the cross-section below.

/


At the Elder mine, the No. 1 vein is the main vein. It extends over a strike distance of about 650 meters, from surfac
--->e to the bottom of the mine. The dip is 22o to the South. It is accompanied by vein #3 and #6 with the same strike and
---> dip. There are also veins No.2 and No.2A, from the 4th level to surface, with the same strike and a dip of 40o S and 
--->vein No.4 with a North-South direction and a dip of 22o to the East. See the cross-section on the previous page.

Vein #7 is indicated in one hole with marginal values. Additional drilling will be done to assess the economic potenti
--->al of this structure.

Abcourt owns 100% of the Elder and Tagami properties, made up of one mining concession, a mining lease, claims and sma
--->ll parts of claims for which a mining lease has been asked and adjacent claims.


Table of resources and parameters used

As of June 30, 2017, mineral resources in the measured and indicated categories, within the mining concession 363, in 
--->the upper part of the mine were as follows: 
CATEGORIES
 MEASURED
 INDICATED
 MEASURED + INDICATED
      
      GOLD
 
 
   ZONE
 TONNES
   GRADE
 TONNES
   GRADE
 TONNES
 GRADE
 OUNCES
(Oz)
 
 
 (metric)
 (g/t)
 (metric)
 (g/t)
 (metric)
 (g/t)
 
 
 ELDER
 
 
 
 
 
 
 
 
 VEIN 1
 8,091
 6.00
 111,146
 7.60
 119,237
 7.49
 28,727
 
 VEIN 2
 16,102
 5.28
 73,925
 6.53
 90,027
 6.31
 18,253
 
 VEIN 3
 5,200
 8.23
 37,942
 6.21
 43,142
 6.46
 8,954
 
 VEIN 4
 44,947
 5.76
 97,086
 5.63
 142,034
 5.67
 25,892
 
 VEIN 6
 0
 0
 71,711
 7.71
 71,711
 7.71
 17,768
 
 TOTAL:
 74,341
 5.85
 391,811
 6.80
 466,151
 6.65
 99,594
 
   Measured and indicated resources on M.C. 363


In addition, inferred resources total 360,900 tonnes with a grade of 5.78 g/t Au.

CATEGORY
                         INFERRED
   GOLD
 
 
            ZONE
 TONNES
      GRADE
    THICK
      OUNCES
 (Oz)
 
 
 (metric)
   (g/t)
     (m)
 
 
 ELDER
 
 
 
 
 
 VEIN 1
 102,600
 5.32
 2.08
 17,544
 
 VEIN 2
 70,191
 6.24
 1.93
 14,079
 
 VEIN 3
 64,258
 6.17
 2.18
 12,749
 
 VEIN 4
 81,628
 5.04
 1.93
 13,218
 
 VEIN 6
 42,227
 6.97
 1.81
 9,460
 
 TOTAL:
 360,904
 5.78
 2.00
 67,050
 
 
Inferred mineral resources within M.C 363

The technical parameters used were:
                Density: 2.70 t/m3, minimum thickness: 1.8 m
Lower cutting grade = 3.45 g/t Au
Higher cutting grade = 31.1 g/t Au


RESOURCES LOCATED WITHIN MINING LEASE 1045

As of March 22, 2017, measures and indicated resources located within mining lease 1045 were as follows:


 MEASURED
 INDICATED
 MEASURED+ INDICATED
   GOLD
 
 ZONE
 TONNES
 GRADE
 THICK
 TONNES
 GRADE
 THICK
 TONNES
 GRADE
 THICK
   OUNCES
(Oz)
 
 
    (metric)
 (g/t Au)
 (m)
 (metric)
 (g/t Au)
 (m)
 (metric)
 (g/t Au)
 (m)
 
 
 ELDER
 
 
 
 
 
 
 
 
 
 
 
 Vein 1
 230,217
 7.66
 5.18
 51,030
 5.01
 2.13
 281,247
 7.18
 4.63
 64,916
 
 CDR
 
 
 
 
 
 
 
 
 
 
 
 
 -
 -
 -
 4,172
 16.49
 2.50
 4,172
 16.49
 2.50
 2,213
 
 TOTAL:
 230,217
 7.66
 5.18
 55,202
 4.63
 1.97
 285,419
 7.07
 4.56
 67,129
 
 
Measured and indicated resources within mining lease 1045

In addition, inferred resources totaled 94.088 tonnes with a grade of 5.15 g/t Au.


 INFERRED
 GOLD
 
 ZONE
 TONNES
 GRADE
 THICK
     OUNCES
(OZ)
 
 
 (mETRIC)
 (g/t Au)
 (m)
 
 
 ELDER
 
 
 
 
 
 Vein 1
 43,840
 5.14
 2.49
 7,246
 
 CDR
 
 
 
 
 
 
 50,248
 5.15
 1.83
 8,328
 
 TOTAL:
 94,088
 5.15
 2.14
 15,574
 
 
Inferred mineral resources in mining lease 1045

The technical parameters used for the calculation of these resources were the same as those used for the calculation o
--->f resources in the mining concession above.


TAGAMI RESOURCES LOCATED IMMEDIATELY TO THE NORTH OF THE ELDER MINE, NEAR SURFACE

In his 43-101 report of 2012, Jean-Pierre Berube estimated the Tagami resources. As there has not been any additional 
--->drilling since that time, these calculations are considered valid now.

CATEGORIES
 MEASURED
 INDICATED
 MEASURED & INDICATED
 GOLD OUNCES
 
 ZONE
 TONNES
 GRADE
 TONNES
 GRADE
 TONNES
 GRADE
 
 
 
 (metric)
 (g/t Au)
 (metric)
 (g/t Au)
 (metric)
 (g/t Au) 
 (Oz)
 
 TAGAMI
 0
 0
 173,200
 6.54
 173,200
 6.54
 36,400
 
 
Indicated mineral resources at Tagami project (Berube 2012)

The parameters used for the calculation of these resources were the same as those above, except that the minimum thick
--->ness was 1.5 m instead of 1.8 m.


TOTAL RESOURCES OF THE ELDER MINE AND THE TAGAMI PROPERTY

The measured and indicated resources of the Elder mine and the Tagami property is shown in the table on the next page.
---> These resources are estimated at 924,700 tonnes with a grade of 6.8 g/t Au, for a total of 200,000 ounces.

Categories
 MEASURED
 INDICATED
 
 Zone
 Tonnes
 Grade
 Ounces
 Tonnes
 Grade
 Ounces
 
 CM 363(1)
 74,300
 5.85
 14,000
 391,800
 6.80
 85,650
 
 BM 1045
 230,200
 7.66
 56,700
 55,200
 4.63
 8,200
 
 Projet Tagami
 0
 0,00
 0
 173,200
 6.54
 36,400
 
 TOTAL:
 304,500
 7.22
 70,700
 620,200
 6.53
 130,250
 
 
Measured and indicated mineral resources for the Elder and Tagami properties

Note (1): From July 1, 2017, to March 31, 2018, Elder produced 82,450 tonnes with a grade of 4.41 g/t Au.



The inferred resources at Elder and Tagami is shown in the table below. These resources are estimated at 630,400 tonne
--->s with a grade of 5.7 g/t Au, for a total of 114,800 ounces.

Category
 INFERRED
 
 Zone
 Tonnes
 Grade
 Ounces
 
 CM 363
 360,900
 5.78
 67,100
 
 BM 1045
 94,100
 5.15
 15,600
 
 Projet Tagami
 175,400
 5.69
 32,100
 
 TOTAL:
 630,400
 5.66
 114,800
 
 
Inferred mineral resources for the Elder and Tagami properties


Quality control and assurance

In its operations, Abcourt applies a procedure for the three methods of sampling used: drill core (series D), chips (s
--->eries F) and broken muck (series M), to reconcile grade with the ounces produced at the Sleeping Giant mill. The lab i
--->s directed by a chief analyst with adequate experience in this domain. This lab maintains an internal quality control 
--->program. Assay results of blanks, duplicates and standards appear regularly (3/24) on assay reports.

Check assays done for 15 chip samples (F) and 10 muck samples (M) done by an accredited laboratory (ALS-Chemex) indica
--->te that the assay results from both laboratories have a very good coefficient of correlation (R2=0.975) even after inc
--->luding an odd value for sample M18465. See graph on next page.
/

Strong correlation coefficient between Sleeping Giant (GD) 
and ALS-Chemex (ALS) assays without the odd value


Marc Filion's resignation

It is with regrets that we announce the resignation of Marc Filion, as of March 2, 2018. The latter was a director and
---> chief of finance for the Company. We wish to thank him for all the services rendered to the Company.


About Abcourt Mines Inc. 

Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in nort
--->hwestern Quebec, Canada. The Elder property has gold resources (2012) and a positive P.E.A. study.  Abcourt is focusin
--->g on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver-zinc resources (2014). A feasibility study was completed in 2007 by Roche / Gen
--->ivar on the Abcourt-Barvue project. 
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, in Abitibi, Qu
--->ebec, in the territory covered by the Plan Nord of the Quebec government.  The mill has a capacity of 700 to 750 tonne
--->s per day. Resources are being revised now.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filing
--->s under Abcourt's profile on www.sedar.com.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. and by Mr. Jean-Pier
--->re Berube, independent engineer. Messrs. Hinse and Berube are  "Qualified Persons" under the terms of Regulation 43-10
--->1.



Forward-Looking Statements

This news release contains forward-looking statements that include risks and uncertainties. When used in this news rel
--->ease, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressi
--->ons, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statem
--->ents. 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, futur
--->e events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statemen
--->ts include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and u
--->nforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as unce
--->rtainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt' annua
--->l 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 
Email: rhinse@abcourt.com 

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.



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