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Abitibi Royalties Inc.
Summary
| Project: | Canadian Malartic Mine | |
|---|---|---|
| Deposit: | Barnat, Jeffrey, Gouldie, Odyssey Zones | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-3-2017: Abitibi Royalties Inc. announces a Resource Estimation report for its Barnat, Jeffrey, Gouldie, Odyssey Zones deposit at the Canadian Malartic Mine project. Reserve and Resource update for Abitibi's NSR interests of project. Abitibi Royalties I | |
| Resources: | ||
| CP/QP: | [Overall Report]: Glenn Mullan (Internal) | |
| ABSTRACT: | Abitibi Royalties Inc. (RZZ-TSX-V: “Abitibi Royalties” or the “Company”) is pleased to announce the receipt of the year-end 2016 gold Reserve and Resource estimate completed by the Canadian Malartic Partnership ("Canadian Malartic"), operated by Agnico Eagle Mines Limited and Yamana Gold Inc., in respect of the Company's net smelter return (“NSR”) interests on various areas of the Canadian Malartic mine. These areas include Odyssey, Barnat, Jeffrey and Gouldie. In addition, Canadian Malartic has provided a production schedule for areas covered by the Company’s NSR interests during the years 2017-2019. “The Odyssey discovery is proving to be important part of Canadian Malartic’s future after only 1.5 years of continual drilling. With another 100,000 metres planned at the mine in 2017, plus the impressive assay results that were recently released from the new internal zone at Odyssey, this deposit looks to have a bright future and should continue to experience exciting growth at no cost to our shareholders. In addition, several other areas covered by our royalties are either moving towards production, currently in development or at an exploration stage but with meaningful drill results, such as the Norrie Zone, also at Canadian Malartic. We are in a unique position that should allow us to continue to build the Company for the benefit of existing shareholders. We have one of the strongest balance sheets amongst companies of our size, no debt, limited expenses, positive cash flow, a small share count where the number of shares are set to go down, not up and we continue to build our portfolio of additional royalties through bolton acquisitions. This is why I have invested all my after tax salary in the Company for the past 2.5 years and have no plans to stop,” stated Ian Ball, president and CEO. | |
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