Abitibi Metals Charts New Course with Expansion Model at B26 Polymetallic Deposit

Abitibi Metals Corp. is expanding its operations at the B26 Polymetallic Deposit, where it recently launched a 16,500-meter drilling program. The company holds an 80% interest in the B26 Deposit, which it acquired through an option agreement with SOQUEM Inc. With strong financial backing of approximately $15.5 million, Abitibi is well-positioned to complete its 2024 work program and execute an additional 20,000 meters of drilling in 2025. This comprehensive drilling campaign will support an updated resource estimate and subsequent Preliminary Economic Assessment, ultimately leading to the completion of the B26 option.

Following the review of results from Phase I drilling, including refinements to the geological model for the B26 deposit, the Company plans to advance its focus on existing targets to showcase the high-grade potential of the deposit. Phase II drilling will aim to extend the historical resource by exploring mineralization of precious and base metals further down the western plunge. This will involve drilling up to 400 meters west of the current B26 limit.

The Company is optimistic about the significant expansion potential both laterally and at depth, with initial interpretations from historical data suggesting the presence of mineralized structures trending W-SW. The Phase I results and historical drilling reinforce the potential to expand the mineralized trend beyond 1,000 meters in depth.

Abitibi is presently conducting a 1,250-meter drill hole (1274-24-338) to explore a extension down-dip west of the historical hole 1274-16-236, which was before intercepted 5.08% Cu Eq over 7.1 meters. Success with this hole would mark the deepest western extension in the Project’s history. A primary goal for the Company is to confirm the continuity and high-grade nature of the mineralized system at B26, which is essential for demonstrating the deposit's overall potential.

Jonathon Deluce, CEO of Abitibi Metals, highlighted the importance of the ongoing Phase II drilling program at the B26 Deposit as a crucial element of their exploration strategy. He expressed enthusiasm about the potential of the western plunge, where deeper drilling could substantially enhance the metal inventory. Deluce noted that the combination of historical data and Phase I drilling results points to significant expansion possibilities both laterally and at depth. This is particularly promising given that previous drilling had identified copper-gold mineralization in widely spaced holes, suggesting that further exploration could reveal substantial new resources.

Abitibi Metals Corp. is a Quebec-based mining company specializing in the acquisition and exploration of high-potential base and precious metal properties. Their strategic focus on drill-ready deposits with significant upside and expansion potential ensures a robust pipeline of opportunities. The company's diverse portfolio includes the option to acquire a majority stake in the B26 Polymetallic Deposit, renowned for its high-grade mineralization, and the Beschefer Gold Project, where historical drilling results have highlighted promising gold intercepts. These strategic assets position Abitibi as a leading player in the Quebec mineral exploration landscape.