Abcourt Mines Inc./ Update on Elder-Tagami Surface Diamond Drilling: Excellent Values in Three Different Areas
MONT-ST-HILAIRE, QUEBEC -- (Marketwire) -- 11/04/10 -- Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE: ABI)(BERLIN: ABI)(FRANKFURT: ABI), (the 'Company') is pleased to provide an update on Elder-Tagami surface diamond drilling. From February to September 2010, excellent results up to 2.7 meters grading 13.71 grams of gold per tonne in hole T-10-14 and 2.00 meters grading 17.27 grams of gold per tonne in hole E-10-13 have been obtained. This drilling has confirmed the continuity of good values over good mining widths in the existing system at the eastern and western ends of the mine and at depth. The indicated potential justifies an additional commitment of funds for an aggressive drilling program. See press releases dated May 25, September 14 and October 8, 2010.
At the west end of the Elder mine, twelve holes for a total of 3,290 meters have averaged 8.18 grams of gold per tonne over a width of 2.16 meters and have indicated an extension of the mineralized zone beyond the western limit of the mine and at depth.
TEN BEST INTERSECTIONS AT WEST END OF ELDER MINE
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Hole From To Length Gold
No. M M Meters Grams/tonne
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E10-07 287.95 290.97 3.02 10.01
inc 288.56 289.79 1.23 20.86
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E10-08 305.14 307.65 2.51 4.90
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E10-09 298.36 299.86 1.50 6.73
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E10-10 259.00 260.50 1.50 3.85
inc 260.05 260.36 0.31 18.63
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E10-11 245.15 249.41 4.26 9.12
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E10-13 226.50 228.50 2.00 17.27
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E10-14 289.50 291.63 2.13 6.50
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E10-15 191.67 193.17 1.50 8.61
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E10-16 197.08 198.58 1.50 5.21
inc 197.08 198.08 1.00 7.12
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E10-18 202.25 203.90 1.65 6.05
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AVERAGE 2.16 8.18
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At the east end of the Elder mine, ten holes totalling 1,653 meters, have confirmed the eastern extension of no. 1 vein beyond the mine working and has also given excellent results. Here is a list of the best ten intersections.
TEN BEST INTERSECTIONS AT EAST END OF ELDER MINE
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Hole From To Length Gold
No M M Meters Grams/tonne
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E10-01 134.15 135.15 1.00 4.86
175.17 176.04 0.87 5.82
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E10-02 186.47 187.70 1.23 7.60
199.50 201.87 2.37 8.24
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E10-20 175.86 177.36 1.50 4.97
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E10-22 44.90 46.40 1.50 6.30
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E10-23 28.25 32.11 3.86 6.54
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E10-24 51.48 54.96 3.48 6.30
59.16 60.88 1.72 4.46
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E10-27 86.53 88.88 2.35 8.41
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AVERAGE 1.99 6.55
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On the Tagami part of the property, 20 definition holes totalling 3,331 meters on the northern half of the West Gold Zone, combined with results obtained previously, outlined a 400-meter continuous zone of mineralization in a north-east direction at shallow depth averaging 8.87 grams of gold per tonne over an average thickness of 2.23 meters. Here is a list of all these intersections.
TAGAMI WEST GOLD INTERSECTIONS
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Depth Vertical Gold
Hole No. Section meters width grams/tonne
meters
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48 DU-19 390 N 62 1.83 3.77
48 DU-17 330 N 60 3.04 5.14
48 DU-16 300 N 44 6.09 2.30
96-18 285 N 46 1.52 4.39
48 DU-18 270 N 79 2.13 6.52
48 DU-15 270 N 58 2.44 4.87
48 DU-12 240 N 72 1.83 8.40
48 DU-11 240 N 58 1.83 9.74
T10-33 240 N 93 1.90 5.58
WG-24 210 N 108 2.13 3.50
48 DU-08 210 N 68 3.05 7.85
T10-30 210 N 55 3.40 5.73
48 DU-07 195 N 91 1.83 8.78
48 DU-05 195 N 70 3.05 14.06
48 DU-03 195 N 64 1.52 5.62
48 DU-13 165 N 59 1.52 5.52
96-26 145 N 67 1.52 11.35
96-23 130 N 132 1.71 5.66
T10-14 110 N 82 2.70 13.71
96-21 120 N 35 1.52 8.44
97-32 90 N 232 1.52 5.04
WG-27 100 N 139 1.65 14.16
96-24 100 N 46 1.52 6.31
62 1.50 11.07
96-22 80 N 59 2.35 38.50
T10-15 90 N 49 1.75 4.83
96-28 60 N 149 1.52 23.80
96-25 60 N 84 1.52 5.94
97-31 30 N 192 1.52 12.89
96-29 30 N 98 1.95 5.52
97-30 30 N 67 1.52 4.15
T10-18 30 N 52 1.88 7.72
97-34 0 N 152 2.26 6.65
T10-28 10 N 73 2.34 5.38
97-35 10 N 76 2.29 32.07
97-36 25 S 104 2.53 5.18
T10-05 30 S 64 2.25 4.54
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Average 2.12 8.87
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All intersections are close to true widths.
All assays were done by Techni-Lab S.G.B. Abitibi Inc., an approved laboratory
In the past (1944-1964), the Elder mine produced 350,000 ounces of gold.
In July 2009, a revision of the resources for the Elder property was completed by an independent qualified person, Mr. Jean-Pierre Berube, P. Eng., consultant from Trois-Rivieres, Quebec, Canada. This revision was made according to NI 43-101 Standards.
Here is a summary of the non-diluted resources -Converted to metric:
Cut-off grade 3.8 grams/tonne 5.1 grams/tonne
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Description Tonnes Au gr/t Ounces Tonnes Au gr/t Ounces
Measured 402,286 6.5 83,635 256,379 7.7 63,736
Indicated 402,742 6.6 85,502 287,296 7.7 71,422
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Measured &
Indicated 805,028 6.5 169,137 543,675 7.7 135,158
Inferred 237,289 6.1 46,722 159,704 7.2 37,067
About Abcourt Mines Inc.
The Company, Abcourt Mines Inc., is an exploration and development company with strategically located properties in Northwestern Quebec, Canada. The Abcourt-Barvue project with 43-101 silver-zinc ore reserves and resources and the Elder mine with 43-101 gold resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Abcourt- Barvue and Elder projects back in production and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment was purchased. A 43-101 resource calculation was recently done for the Elder mine. To know more about Abcourt, please consult our web site www.abcourt.com and Sedar www.sedar.com, see 'Abcourt Mines Inc'. A small location plan and longitudinal projection of the Aldermac mineralized zones are shown on our web site. A small location plan of the Elder and Tagami properties is also shown on our web site.
FORWARD-LOOKING STATEMENTS: Except for statements of historical facts, all statements in this news release, including, without limitation, statements regarding forecasts, plans and objectives of Abcourt Mines Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. 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.
Contacts:
Abcourt Mines Inc.
Renaud Hinse
President
819-768-2857 / 450-446-5511
819-768-5475 / 450-446-3550 (FAX)
rhinse@abcourt.com