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Abitibi Royalties Inc.
Summary
| Project: | Canadian Malartic Mine | |
|---|---|---|
| Deposit: | Odyssey North | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-9-2016: Abitibi Royalties Inc. announces an Exploration/Drilling Update report for its Odyssey North deposit at the Canadian Malartic Mine project. Drilling results incl. 49.50m @ 2.49g/t Au from 1268.50m (NSR on project). Val-d’Or, Québec, September 1 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Glenn Mullan (Internal) | |
| ABSTRACT: | Val-d’Or, Québec, September 12, 2016 – Abitibi Royalties Inc. (RZZ-TSX-V: “Abitibi Royalties” or the “Company”) is pleased to provide an update on the Company’s 3% net smelter royalty (“NSR”) on the Odyssey North discovery located at the Canadian Malartic Mine near Val-d’Or, Québec. The information contained in this news release is based on disclosure made by Yamana Gold Inc. (“Yamana”) in their presentation titled “Made in Canada” dated September 6, 2016 and located on their website (www.yamana.com) and without independent verification by the Company. Abitibi Royalties holds a 3% NSR on Odyssey North that is located inside the Malartic CHL property. Odyssey North is proximate to the Odyssey South Zone and together, these zones comprise the “Odyssey Zones”, “Odyssey deposit” or “Odyssey” that is east of the main Canadian Malartic Mine open pit. The Canadian Malartic Mine and Malartic CHL Property are jointly operated by Yamana and Agnico Eagle Mines Limited (“Agnico Eagle”). The operators of the Canadian Malartic Mine have budgeted Cdn$13.5 million for exploration at Odyssey in 2016 for a total of 95,000 metres of drilling. As last reported by the mine operators, nine drill rigs are currently active on Odyssey North. As of June 30, 2016, 57 holes for 53,417 metres had been completed at Odyssey during the year. | |
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