Four Holes Drilled by Abcourt on Tagami Property Intersected Excellent Gold Values
MONT-ST-HILAIRE, QUEBEC -- (Marketwire) -- 07/05/11 -- Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE: ABI)(BERLIN: ABI)(FRANKFURT: ABI) Stock Exchanges) (the 'Company'), is pleased to report excellent diamond drilling results in the four best holes recently drilled on the Tagami property, immediately to the north of the Elder mine, including hole T11-02 which intersected 7.17 grams of gold per tonne over a width of 3.00 meters. Holes T11-05 and T11-12 were also pretty good. The Elder mine is located 10 km north-west from the town of Rouyn-Noranda, north-western Quebec.
DRILLING RESULTS OF FOUR BEST HOLES
RECENTLY DRILLED ON THE TAGAMI PROPERTY
------------------------------------------------------
Hole From To Length Gold
no. Section meters meters meters grams/tonne
------------------------------------------------------
360 N 154.50 163.00 8.50 3.71
T11-02 Inc 154.50 157.50 3.00 7.17
------------------------------------------------------
T11-04 360 N 62.90 64.40 1.50 5.38
------------------------------------------------------
T11-05 330 N 135.20 137.50 2.30 7.95
------------------------------------------------------
49.40 49.70 0.30 4.99
T11-12 270 N 66.70 68.20 1.50 9.20
------------------------------------------------------
Other holes in the same series (T11-01 to T11-11) intersected the mineralized zone with values of 2.0 /- grams of gold per tonne.
The length of intersections is approximately equal to true width.
All assays were done by Techni-Lab S.G.B. Abitibi Inc., an approved laboratory.
'Our goal is always to build significantly on the 2009 NI-43-101 resource estimate for the Elder and Tagami Properties and we're very confident that we're going to succeed with the drilling that we are doing', stated Renaud Hinse, President and CEO. 'We're gaining a much better understanding of the entire structural model for Elder and the Tagami mineralized zones and this is aiding us immensely as our aggressive drilling campaign continues. We're also very excited with the potential of the Tagami property, immediately to the north of Elder mine where more drilling has taken place. We are strongly focused on the re-opening of the Elder mine as quickly and efficiently as possible in the near term'.
From 1944 to 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. This revision was made according to NI 43-101 standards.
Below is a summary of the non-diluted resources:
Cut-off grade 3.8grams/tonne 5.1grams/tonne
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
------------------------------------------------------
Maesured & indicate 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
Meanwhile, a major drill program continues at Abcourt-Barvue Silver-Zinc Property near Val-d'Or, (more results pending). Drilling there is designed to upgrade and augment existing NI 43-101 all category reserves and resources.
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.
Contacts:
Renaud Hinse, President and Chief Executive Officer
819 768-2857 or 450 446-5511
819 768-5475 or 450 446-3550 (FAX)
rhinse@abcourt.com