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Abcourt Mines Inc.
Summary
| Project: | Elder Mine | |
|---|---|---|
| Deposit: | Elder Mine, Tagami | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-10-2018: Abcourt Mines Inc. announces a PEA report for its Elder Mine, Tagami deposit at the Elder Mine project. PEA and updated mineral resource estimate update for the project. Mont-St-Hilaire, Québec, Canada, October 30, 2018. Mr. Renaud Hinse, Pres | |
| Resources: | (Resource, M+I): 638Kt @ 6.38g/t Au at Elder and Tagami | |
| CP/QP: | [Resources]: Jean-Pierre Berube (Independent) | |
| ABSTRACT: | Mont-St-Hilaire, Québec, Canada, October 30, 2018. Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSXV: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (“Abcourt” or the “Company”) is pleased to announce that a NI 43-101 update report of resources on the Elder mine and the Tagami property has been prepared by Mr. Jean-Pierre Bérubé, engineer in geology. Mr. Bérubé is an independent consultant. Mr. Renaud Hinse, mining engineer, has prepared an update of the Preliminary Economic Assessment (PEA) report prepared by Roche, Consulting-group in 2012. An independent PEA was not required as there has not been a 100% increase in the mineral resource estimate. Both persons are designated as “qualified persons” according to NI 43-101, each one of them has pertinent experience in his domain. The Elder mine is made up of one mining concession, two mining leases and claims. At the Elder mine, vein No. 1 vein is the main vein. It extends over a strike distance of about 650 meters, from surface 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 following page. Vein #7 is indicated in one hole with marginal values. Additional drilling will be done to assess the economic potential of this structure. The Tagami property is made up of 10 claims and it is located immediately to the north of the Elder property. The known mineralization from surface to a depth of 150 meters is found in a shear zone with a strike of N-40o -E and a dip of 50% to the south-east and in the walls of the shear zone where veins with the same direction are found with a dip of 20o to the south-east. | |
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