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Mr. Renaud Hinse, President and C.E.O. of Abcourt
Mines Inc. (TSX VENTURE:ABI) (BERLIN:ABI) (FRANKFURT:ABI) (the "Company"), is
pleased to announce the results of six holes drilled on sections 5100E to
5190E at depths ranging from 150 to 200 m from surface at the west end of the
Abcourt-Barvue ore zone. The property is located 60
km north of Val-d'Or, Québec. The current drilling program is designed
to augment and upgrade existing 43-101 all-categories resources and reserves
and to justify an increase in the size of the proposed mill from 650,000 tonnes to 1,000,000 tonnes per
year.
Five of these holes have intersected two zones of
high silver and zinc values. The best part of Zone 1 averaged 184.34
grams per tonne of silver (5.92 oz/t Ag) and 2.58%
zinc over 2.96 meters. Zone 2 averaged 112.06 grams per tonne
of silver (3.60 oz/t Ag) and 4.92% zinc over 3.57 meters..
Please note that zone 2 in holes AB10-13, AB10-15
and AB10-17 shows a substantial width of mineralization (15 ± meters).
"We're excited with these results and those
reported previously on December 7, 2010 and January 27 last," stated Mr.
Hinse. "Together they are adding to our
reserves and resources. Diamond drilling is continuing."
Assay results for six additional holes drilled on
the western part of the Abcourt-Barvue silver-zinc
property
ZONE
|
HOLE
No.
|
FROM
Meters
|
TO
Meters
|
LENGTH
Meters
|
Ag
g/tonne
|
Zn
%
|
1
2
|
AB10-13
Inc
|
149.60
160.60
160.60
|
152.80
175.50
164.10
|
3.20
14.90
3.50
|
76.42
94.05
376.94
|
2.02
3.40
7.51
|
1
2
|
AB10-14
inc
|
233.50
243.70
244.80
|
235.60
250.00
247.00
|
2.10
6.30
3.30
|
62.63
106.46
199.60
|
1.35
2.05
3.11
|
1
2
|
AB10-15
Inc
|
177.00
189.30
192.50
|
179.10
203.50
194.50
|
2.40
14.20
2.00
|
77.57
24.68
139.40
|
1.77
2.61
3.59
|
1
2
|
AB10-16
Inc
inc
|
188.00
195.60
207.50
207.50
|
200.70
200.70
213.50
209.50
|
12.70
5.10
6.00
2.00
|
152.26
337.02
151.36
464.75
|
2.56
4.03
3.01
4.85
|
1
2
|
AB10-17
Inc
Inc
Inc
|
150.00
154.00
160.00
160.00
169.00
|
156.90
156.00
175.80
163.00
175.80
|
6.90
2.00
15.80
3.00
6.80
|
128.78
223.60
25.69
87.50
14.05
|
2.52
2.04
3.55
3.62
5.66
|
2
|
AB10-18
|
215.50
|
219.90
|
4.40
|
45.38
|
4.57
|
|
|
|
|
|
|
Zone 1 (best part) average
|
2.96
|
184.34
|
2.58
|
|
Zone 2 (best
part) average
|
3.57
|
112.06
|
4.92
|
31.1 grams = 1 ounce
True width is about 80% of core length.
All assays were done by Techni-Lab
S.G.B. Abitibi Inc., an approved laboratory.
Holes AB10-13 to AB10-18 represent
another 14% of the 10,000 metre drill
program. So far, holes 01 to 18 represent 3,989 meters or about 40 % of
the drilling program.
In the past, from 1952 to 1957 and from 1985 to
1990, the Abcourt-Barvue mine produced 6.2 M tonnes of ore with a grade of 1.43 ounces of silver per tonne (8.87 M ounces) and 3.21% zinc (178.965 tonnes or 394 M pounds of zinc).
In 2006, an in-situ
mineral resource for Abcourt-Barvue was calculated
according to guidelines set forth in NI-43-101. With the 2007 feasibility
study, most of these resources were converted into ore reserves after taking
into account mine dilution and mining recovery. See table below:
Mineral Reserves Statement by Genivar
Limited Partnership (including dilution) (NI-43-101)
|
|
|
Grade
|
|
|
Mining
method
|
Classification
|
Tonnes
|
Ag g/t
|
Zn %
|
Ounces of
silver
|
Tonnes
of zinc
|
Open pit
|
Proven Mineral Res.
|
5,338,731
|
44.79
|
3.15
|
7,688,000
|
168,170
|
|
|
|
|
|
|
|
Underground
|
Proven
Mineral Res.
|
1,169,662
|
105.19
|
2.87
|
3,956,000
|
33,569
|
|
Probable Min.
Res.
|
315,139
|
101.61
|
3.23
|
1,030,000
|
10,179
|
|
Total underground
|
1,484,901
|
104.43
|
2.95
|
4,986,000
|
43,748
|
|
|
|
|
|
|
|
Open pit and underground
|
Poven Mineral Res.
Probable Mineral Res.
|
6,508,393
315,139
|
55.64
101.61
|
3.10
3.23
|
11,644,000
1,030,000
|
201,760
10,179
|
|
Total
|
6,823,532
|
57.76
|
3.11
|
12,674,000
|
211,939
|
|
|
|
|
|
|
|
Open pit
|
Proven
marginal ore
|
1,152,502
|
17.65
|
1.58
|
654,000
|
18,210
|
Remaining 43-101 resources
|
|
Grade
|
|
|
Description
|
Tonnes
|
Ag/t
|
Zn %
|
Ounces
of silver
|
Tonnes
of zinc
|
Measured and
indicated
|
562,748
|
71.26
|
3.76
|
1,289,000
|
21,159
|
|
|
|
|
|
|
Inferred
|
1,505,687
|
120.53
|
2.98
|
5,835,000
|
44,869
|
About Abcourt Mines Inc.
Abcourt Mines Inc. is an exploration and development
company with strategically located properties in northwestern Quebec, Canada.
The Elder Mine with 43-101 gold resources, the Abcourt-Barvue
Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources
are all former producers. Abcourt is now focused on
bringing the Elder and Abcourt-Barvue projects back
into production with Elder as the first priority. At the same time the
company is working on other projects (Aldermac, Jonpol and Vendome) to increase its mineral resources
inventory. A 43-101 resource calculation was completed in July, 2009, for the
Elder Mine. A positive 43-101 feasibility study was completed by GENIVAR in
2007 on the Abcourt-Barvue Project. In addition,
mill equipment was purchased. To know more about Abcourt,
please visit our web site at www.abcourt.com.
FORWARD-LOOKING STATEMENTS: Certain of the information
contained in this news release may contain "forward-looking
information". Forward-looking information and statements may
include, among others, statements regarding the future plans, costs,
objectives or performance of Abcourt Mines
Inc. (the "Company"), or the assumptions
underlying any of the foregoing. In this news release, words such as
"may", "would", "could", "will",
"likely", "believe", "expect",
"anticipate", "intend", "plan",
"estimate" and similar words and the negative form thereof are used
to identify forward-looking statements. Forward-looking statements
should not be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at or by
which, such future performance will be achieved. Forward-looking
statements and information are based on information available at the time
and/or management's good-faith belief with respect to future events and are
subject to known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond the Company's
control. These risks, uncertainties and assumptions include, but are not
limited to, those described under "Risk Factors" in the Company's
amended and restated annual information form dated November 26, 2010 and
could cause actual events or results to differ materially from those projected
in any forward-looking statements. The Company does not intend, nor does
the Company undertake any obligation, to update or revise any forward-looking
information or statements contained in this news release to reflect
subsequent information, events or circumstances or otherwise, except if
required by applicable laws.
This press release was prepared by Mr. Renaud Hinse, a qualified
person, President of Abcourt Mines Inc.
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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