Abcourt Announces First Drilling Results on Abcourt-Barvue Property
MONT-ST-HILAIRE, QUEBEC, CANADA -- (Marketwire) -- 12/07/10 -- Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX VENTURE: ABI)(FRANKFURT: ABI)(BERLIN: ABI) (the 'Company') announce that the Company has received the first assay results from its surface diamond drilling program on its Abcourt- Barvue silver-zinc property. The drilling was done on sections 5625 E to 5730 E at depths ranging from 150 to 200 meters from surface to improve the quality of the resources and to augment them. This is done to justify an increase in the size of the proposed mill from 650,000 tonnes to 1,000,000 tonnes annually and at the same time, to reduce the unit mining costs by treating a larger volume of ore annually. As indicated by the following results, this program is very successful, giving on the average of 7.7 ounces of silver and 2.09% zinc per tonne and it is continuing. This drilling program is part of our 2010 drilling program and is paid with funds raised in December 2009.
Assay results for the first six holes drilled on the Abcourt-Barvue silver-zinc property
HOLE FROM TO LENGHT Ag Zn
No. Meters Meters Meters g/tonne %
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AB10-01 165.00 167.50 2.50 60.12 1.17
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AB10-02 194.00 204.50 10.50 118.95 2.31
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AB10-03 169.00 172.00 3.00 61.77 2.84
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AB10-04 197.80 200.10 2.30 385.24 2.34
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AB10-05 222.10 225.00 2.90 66.48 1.51
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AB10-06 191.50 193.30 1.80 190.24 1.41
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AVERAGE 3.83 130.69 2.09
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130.69 grams of silver per tonne is equal to 3.81 ounces of silver per tonne.
True width is about 80% of core length.
All assays were done at Techni-Lab SGB Abitibi, an approved laboratory.
Holes AB10-01 to AB10-06 represents only about 1/3 of the 4,000-meter drilling program.
The Abcourt-Barvue property has 19.6 millions ounces of silver in ore reserves and resources of all categories and 288,000 tonnes of zinc.
About Abcourt Mines Inc.
The Company, 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 in production (with the main focus currently being on the Elder project) and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A 43-101 resource calculation was recently done for the Elder mine. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment was purchased. To know more about Abcourt, please consult our web site www.abcourt.com and Sedar www.sedar.com under 'Abcourt Mines Inc'. A small location plan of the Elder and Tagami properties is shown on our web site. A small location plan and longitudinal projection of the Aldermac mineralized zones are also shown on our web site.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain 'forward-looking information'. Forward-loo king 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', 'estim ate' 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:
Abcourt Mines Inc.
Renaud Hinse
President and Chief Executive Officer
819-768-2857 / 450-446-5511
819-768-5475 / 450-446-3550 (FAX)
rhinse@abcourt.com