Abcourt announces the discovery of a new high-grade gold vein at the elder mine

Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)(“Abcourt” or the “Mines Abcourt Inc.) is pleased to announce the discovery of a new highgrade vein in the extension of the west drift on level 9 at the Elder mine.This vein, named 9-1-5, is currently being developed. It has given so far 13.24 g/t of gold over atrue width of 1.1 meter for a distance of 39 meters.Operating results for the first quarter, ended on September 30, 2019, will be announced later thisweek. About Abcourt Mines Inc. Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategicallylocated properties in northwestern Quebec, Canada. The Elder property has gold resources(2018). Abcourt is focusing on the exploitation of the Elder mine. A $2M exploration program hasrecently been approved by directors.The Abcourt-Barvue property has silver-zinc reserves (2014). A feasibility study was completed in2007 by Roche / Genivar. A 43-101 update was completed in January 2019. A total of 8.07 Mtonnes of proven and probable reserves with a grade of 51.79 g/t of silver and 2.83% of zinc areavailable to be mined. The portion mineable by open pit is 81.6% and the portion mineableunderground is 18.4%. Inferred resources are 2.07 M tonnes with a grade of 114.16 g/t of silverand 2.89% zinc.In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos andMatagami, in Abitibi, Quebec, in the territory covered by the Plan Nord of the Quebec government.The mill has a capacity of 700 to 750 tonnes per day. A NI 43-101 resource estimate was filed inMay 2019. A positive 43-101 feasibility study was completed recently by PRB Mining Services Inc.The mineral reserves are 10,900 tonnes in the proven category with a grade of 12.20 g/t of goldand 475,625 tonnes in the probable category with a grade of 11.85 g/t of gold. The inferredresources are 93,100 tonnes with a grade of 11.85 g/t of gold. Surface diamond drilling will startshortly. For the full version of the press release. Click here.

Edited by user Wednesday, January 20, 2021 2:10:31 AM(UTC)  | Reason: Not specified