Abcourt Mines Inc.: High Grade Values Intersected at Vendome Property in Four Holes Confirm Historical Data
MONT-ST-HILAIRE, QUEBEC -- (Marketwire) -- 08/09/11 -- 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 four holes drilled on the Vendome property to confirm historical data have intersected high grade values. These holes will be used to complete a NI 43-101 mineral resources report by an independent qualified person. The property is located in Fiedmont and Barraute Townships, 65 km north of Val d'Or, Quebec.
DIAMOND DRILLING RESULTS ON VENDOME PROPERTY
Hole Section From TO Length Au Ag Cu Zn
no. m m m g/t g/t % %
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V11-01 15W 58.30 60.80 2.50 0.46 40.99 0.02 4.04
64.10 67.00 2.90 0.15 34.42 0.04 9.40
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V11-02 60W 175.50 208.50 33.00 1.69 95.84 0.94 7.72
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V11-03 2 25W 108.50 110.00 1.50 2.85 176.60 0.08 0.02
113.90 120.50 6.60 4.69 151.98 0.43 19.54
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V11-04 16 80W 207.90 211.50 3.60 0.67 16.88 0.32 11.05
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Section O is at the center of the shaft. In holes 1, 3 and 4, true width is about 80% of the core length. In hole 2, true width is about 60% of core length.
All assays were done at Techni-Lab S.G.B., an approved laboratory.
This property is located on a 2,000-meter long zone of massive to semi-massive sulphides. Good gold- silver-copper and zinc values were obtained by diamond drilling and mine development in the past. Historical resources are as follows:
ZONE SHORT Au Ag Cu Zn
TONS oz/t oz/t % %
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Vendome 495,000 0.036 1.73 0.48 8.07
Barvallee 181,000 -- 1.42 1.23 5.71
Belfort 227,000 0.012 0.61 0.22 7.80
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Total 903,000 0.022 1.39 0.56 7.53
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In addition, there are some quartz veins with pyrite and gold at the west end of the Mogador batholith with an inferred historical resource of 63,000 short tons, grading 0.19 ounce of gold per ton.
These resources are all located between bedrock and a depth of 200 meters from surface. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources. The issuer is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon, but they give a very good indication of the type of mineralization found on that property. This statement is made by Mr. Renaud Hinse, Professional Engineer, a qualified person, president of the Company. A few holes drilled under the historical resources indicate that the mineralized zone continues at least to 500 meters below surface.
In the 1950's, a three-compartment shaft was sunk on the Vendome zone, to a depth of 160 meters (525 feet) and three levels were established at depths of 76 meters (250 feet), 114 meters (375 feet) and 152 meters (500 feet). A total of 2,134 meters (7,000 feet) of drifts and raises were excavated and 351 holes were drilled underground for a total of 19,595 meters (64,600 feet). At the same time, two deposits, the Barvallee and the Belfort were found on strike to the west by surface drilling.
In 1987, a surface plant was installed and a short (76 meters) ramp was excavated on the Barvallee part of the property.
'The geology on section 16 80W is very promising. The felsic horizon made up of felsic tuffs and cherty tuffs is wide. It is twice as wide as on section 2 25W. It does not reach sections 60W and 15W. On the two latter sections, the mineralized lenses are trapped in the upper part of an andesitic porous breccia. This information suggests that the mineralized lenses are distributed at random in the western felsic unit and in the brecciated flows at the east. It indicates an interruption in the volcanic activity followed by a silicious exhalation at the western end of the zone. This exhalation is favourable to the emplacement of large mineralized lenses near the volcanic source. Our future exploration programs will be planned accordingly' said Mr Renaud Hinse, C.E.O.
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:
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