Great news today.... Stock jumps 50% as well... wahoo
Barvue mine and Vendome properties now commercially viable
Abcourt Mines Ltd ABI.B
Shares issued 16,562,643 Sep 26 close $0.20
Mon 29 Sept 97 News Release
Mr Renaud Hinse reports
The company's Abcourt/Barvue mine and its Vendome property would now be
commercial at current gold, silver, copper and zinc, prices and it is
investigating the possibility of building a mill on one of the mine sites.
For 1997-1998 both properties will be drilled from surface in known
mineralized areas to increase the ore reserve base. The Barvue plant and
mine infrastructures will be updated in preparation for the re-opening of
the mine. The Abcourt-Barvue mine currently has 794,000 tons of reserves in
all three categories calculated by Abcourt in 1990, grading 3.76% zinc and
7.53 oz/t silver, including 248,000 tons in the proven category grading
5.13% zinc and 4.50 ounces of silver per ton. The proven portion has a
dilution of 15% built into the grade given and the probable has 20%.
Assays in the past were done by different labs but between 1985 and 1990,
they were done in the Noranda lab at Matagami. The planned surface diamond
drilling will be done at depths greater than 600 feet in the 5% zinc areas.
The Vendome property, in close proximity to the Barvue, has reserves in all
three categories calculated by Abcourt of 966,000 tons averaging 7.04%
zinc, 0.52% copper, 1.3 oz/t silver and 0.034 ounce of gold per ton,
including 495,000 tons in the proven category grading 8.07% zinc, 0.48%
copper, 1.73 oz/t silver and O.036 oz/t gold. The Barvallee deposit is cut
off by a north-south fault at its western limit.
Four hundred feet south of the deposit, there is a strong EM anomaly. The
1997-1998 surface diamond drilling program will be done to check the EM
anomaly.
The Abcourt-Barvue property has a silver resource of six million ounces of
silver (794 000 tons at 7.53 ounces of silver per ton).
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
