2,462 meters of surface diamond drilling was done on the Abcourt-Barvue property in December 2016 and January 2017 and in most cases, excellent results were obtained
Mont-St-Hilaire, February 21, 2017 - Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt" or the "Company") is pleased to announce that 10 surface holes were drilled, for a total of 2,462 meters, on the Abcourt-Barvue property located near Val-d'Or, Quebec, Canada, and in most cases, excellent results were obtained. See below: | Hole No. | From m | To m | Length m | Ag g/t | Zn % |
| AB 16-06 | 211.5 | 219.0 | 7.50 | 66.8 | 2.66 |
| AB16-07 | 172.0 | 176.0 | 4.00 | 43.0 | 1.86 |
| AB16-08 | 251.0 | 254.6 | 3.60 | 21.9 | 6.08 |
| AB16-09 | 220.5 | 230.5 | 10.00 | 47.8 | 1.55 |
| AB16-10 | 222.0 | 231.1 | 9.10 | 41.5 | 3.27 |
| AB16-11 | See Note 1 | ||||
| AB16-11 A | 230.0 239.0 | 235.0 250.3 | 5.00 11.30 | 37.8 7.4 | 4.09 2.80 |
| AB16-12 | 160.0 275.7 | 161.93 292.4 | 1.93 16.65 | 12.9 4.7 | 13.80 2.00 |
| AB17-01 | 318.0 | 319.75 | 1.75 | 15.6 | 0.38 |
| AB17-02 | 234.0 240.0 | 240.0 242.9 | 6.00 2.90 | 49.8 2.2 | 1.37 4.25 |
Note 1: Hole abandoned due to important deviation.
Most of these holes were drilled to increase the amount of information on which the inferred resources calculations are based.
True widths represent between 60% and 75% of core lengths.
The intersections were obtained at depths of about 250 meters.
Additional drilling on this property is justify as long as this kind of results continue to be obtained.
QA/QC PROCEDURE
N.Q. core is placed in boxes at drill site and boxes are delivered to the core shack by the drillers. Hole locations and dips of holes are checked by an Abcourt employee. Core is logged and samples taken are marked by a qualified person. The sampled core is cut in half by a diamond saw, half being kept in the core box and stored on the site, the other half being taken to Laboratoire Expert in Rouyn-Noranda for assaying by the atomic absorption method. For every twenty samples of core, a standard sample is included in the batch. At the laboratory, one sample in ten is analyzed in duplicate. Sample rejects and unused pulps are returned and stored at the project site. Laboratoire Expert is not an accredited assayer but the use of standard samples enables us to check the accuracy of the assays.
New resources calculations in 2014
A 43-101 report on the Abcourt-Barvue resources was prepared by Mr. Jean-Pierre Berube, engineer and independent consulting geologist with pertinent experience in this field. This report indicates an increase in indicated and inferred resources in comparison with those of 2006. This report was filed on SEDAR. Here is a comparative table of resources in all categories:
Table 1. Resources of all categories
2014 Estimate 2006 Estimate
| CATEGORY | TONNES | Ag (g/t) | Zn (%) | TONNES | Ag (g/t) | Zn (%) | ||
| Measured | 6,284,000 | 43.98 | 3.09 | 6,516,000 | 58.32 | 3.33 | ||
| Indicated | 1,799,000 | 95.51 | 2.94 | 503,000 | 98.35 | 3.44 | ||
| M + I | 8,083,000 | 55.45 | 3.06 | 7,019,000 | 61.19 | 3.33 | ||
| Inferred | 2,037,000 | 114.16 | 2.89 | 1,506,000 | 120.53 | 2.98 |
If the open pit outlines designed in 2007 by GENIVAR remain unchanged, it is estimated that 77% of the measured and indicated resources will be extracted from an open pit and 23% from underground operations.
The increase in tonnage between the 2006 estimate and the 2014 estimate was brought about by additional diamond drilling in 2010 and 2011 and by a substantial increase in the price of silver which enabled us to use a lower cut-off grade.
The measured resources are generally extending from surface to a maximum depth of 165 meters. The indicated resources are generally located in the immediate extensions of the measured blocks from elevation -125 to -300 meters.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2012) and a positive P.E.A. study. Abcourt is focusing on the exploitation of the Elder mine.
The Abcourt-Barvue property has silver-zinc resources (2014). A feasibility study was completed in 2007 by Roche / Genivar on the Abcourt-Barvue project.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and Matagami, 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 and the Sleeping Giant property has measured and indicated historical resources of 306,000 tonnes with a grade of 12.3 grams of gold per tonne and 42,000 tonnes of inferred historical resources with a grade of 12.4 grams of gold per tonne. Other advanced exploration properties were also acquired, with, in aggregate, historical indicated and measured resources totaling 403,210 ounces of gold and historical inferred resources of 432,000 ounces of gold.
Historical resources in copper, zinc, gold and silver are found on the Aldermac and Jonpol properties.
Work must be done to upgrade or verify the historical mineral resources as current mineral resources.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, and the issuer is not treating the historical estimate as current mineral resources.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com and consult our filings under Abcourt's profile on www.sedar.com.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt Mines Inc. Mr. Hinse is a "Qualified Person" under the terms of Regulation 43-101.
Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they are made. Except as may be required by law, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Abcourt' annual and periodic reports. The forward-looking information contained herein is made as of the date of this news release.
For more information, please contact:
Renaud Hinse, President and CEO
T: 819 768-2857 450 446-5511
F: 819 768-5475 450 446-3550
Email : rhinse@abcourt.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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