TSXV: ABE
VAL-D'OR, QC, March 3, 2014 /CNW Telbec/ - ABE Resources Inc. (the "Company") (TSXV: ABE) is pleased to report on the results of its Annual General and Special Meeting ("AGSM") held February 26, 2014, and announces the acquisition by staking of two large gold and base metal exploration projects in the Abitibi region of Québec. The Company will be present at PDAC and will have booth #2415 at the Investor's Exchange on Tuesday and Wednesday, March 4-5.
At the Company's AGSM meeting, held in Val d'Or, shareholders voted for the election of individual directors, the appointment of Auditors and the approvals of the Options plan and a new by-law. All items on the agenda were approved with between 83% and 100% of votes cast. The board is composed of Co-chairmen Yves Rougerie and François Ruel, Secretary-Treasurer Robert Bryce and Chairman of the Audit committee Fred Burrows. Yves Rougerie remains President & CEO and Martin Richard is the Company's CFO.
The Company is also pleased to announce it has staked two large properties in Québec's Abitibi region.
The Mazarin property is located approx. 50 km north of the town of Amos. It consists of 69 claims covering 3,706 hectares. The property covers over 20km of strike of the Octave River Formation which consists of Archean Rhyolites, Rhyodacites and Dacites, as well as Intermediate and Felsic Tuffs. The property sits along strike and adjacent to the east of the historic Vior-Mazarin property which was the subject of extensive work in the 1980s by Placer Dome. Widespread polymetallic and gold mineralization occurs in several zones on this property. ABE's new Mazarin property has seen only very limited work over the years, even though it's geological setting appears favourable for classic Abitibi-style gold and/or VMS mineralization.
The Valrennes property is located approx. 30 km northwest of the past mining town of Joutel, itself located 130km north of Amos, Québec. The property consists of 30 claims covering 1676 hectares. Access is available through forestry roads. It is located east of the dormant Estrades high grade polymetallic deposit, and WNW of the Agnico-Eagle past producing Eagle and Telbel gold mines and the past producing Joutel base metal camp. The property covers over 14km of strike along the Valrennes Formation which is comprised of varying felsic tuffs bound by mafic volcanics to the north and south. Very limited drilling on the property has recognized significant shearing and alteration in places. This property's geological setting also appears favourable for classic Abitibi-style gold and/or VMS mineralization.
About ABE Resources
ABE Resources is a Quebec mineral exploration company focused on the discovery and development of mineral deposits of economic potential in Québec. ABE currently has 9,510,944 common shares issued and outstanding.
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.
SOURCE ABE Resources Inc.
For further information:
Yves J. Rougerie
President and CEO
Tel: (819) 874-6200 ext 222
yrougerie@ressourcesabe.ca
The Company's public documents may be accessed at www.sedar.com
For further information on the Company, please visit our website at www.ressourcesabe.ca or contact us at info@ressourcesabe.ca
