Abcourt Mines: Hole AB11-24 Drilled at Abcourt-Barvue Intersected 4.9 Meters Grading 300.99 Grammes of Silver Per Tonne and 3.05% Zinc
MONT-ST-HILAIRE, QUEBEC, CANADA -- (Marketwire) -- 05/25/11 -- 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 that hole AB11-24 drilled on section 5040E at Abcourt-Barvue intersected 4.9 meters grading 300.99 grammes of silver per tonne and 3.05% zinc. This hole is part of the current drilling program designed to augment and to upgrade existing 43-101 all-categories resources and reserves. The property is located 60 km north of Val-d'Or, Quebec. Here are the results of six holes recently drilled:
Assay results for six holes drilled recently on the
western part of the Abcourt-Barvue silver-zinc property
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HOLE FROM TO LENGTH Ag Zn
ZONE SECTION No. Meters Meters Meters g/tonne %
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1 5040E AB11-24 137.4 142.3 4.90 300.99 3.05
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1 198.1 199.6 1.50 38.32 2.76
2 5010E AB11-25 215.9 224.4 8.50 57.81 2.56
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AB11-26 154.5 162.1 7.60 92.55 2.32
1 5010E inc 156.0 161.2 5.20 131.40 3.09
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1 5010E AB11-27 131.0 141.0 10.00 129.48 3.12
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1 5550E AB11-28 207.0 209.1 2.10 117.96 2.46
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1 5580E AB11-29 224.2 231.9 7.70 114.18 2.51
inc 226.1 228.2 2.10 347.39 4.21
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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.
'Our drilling program is very successful. We are getting good grades and good widths. The above results with those reported previously are adding to our reserves and resources.' stated Mr. Hinse 'Diamond drilling is continuing.'
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 by Mr Jean-Pierre Berube, P. Eng., an independent consulting engineer. 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)
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Mining Classifi- Grade Grade Ounces of Tonnes
method cation Tonnes Ag g/t Zn % silver of zinc
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Proven
Mineral
Open pit Res. 5,338,731 44.79 3.15 7,688,000 168,170
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Proven
Mineral
Underground 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
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Total
underground 1,484,901 104.43 2.95 4,986,000 43,748
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Poven
Mineral
Res. 6,508,393 55.64 3.10 11,644,000 201,760
Open pit Probable
and Mineral
underground Res. 315,139 101.61 3.23 1,030,000 10,179
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Total 6,823,532 57.76 3.11 12,674,000 211,939
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Proven
marginal
Open pit ore 1,152,502 17.65 1.58 654,000 18,210
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Remaining 43-101 resources
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Grade Grade Ounces Tonnes
Description Tonnes Ag/t Zn % of silver of zinc
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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
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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