Abcourt Mines Inc. (TSX Venture: ABI) (OTCQB: ABMBF) has announced the launch of a new drilling campaign of approximately 2,000 metres at the site of the former Barvue silver and zinc mine, located in the Barraute sector of Abitibi-Témiscamingue, Quebec. The work is scheduled to begin during the first week of June.
Strategic Alignment with Rising Metal Prices
The drilling campaign aligns with the Company's corporate strategy to enhance its premier silver assets following the recent dramatic increase in metal prices. Past exploration and mining operations at Barvue never exceeded a vertical depth of 200 metres, leaving deeper potential unexplored.
Geological Context and Targets
Volcanogenic Massive Sulphide (VMS) deposits in Quebec are known to extend to significant depths. Geologically, the former Barvue mine is comparable to the Matagami zinc deposit, where the famous 'Key Tuffite' may be equivalent to the 'Grey Tuff' described at Barvue. Major mines in the Matagami camp, such as Isle-Dieu, Bell-Allard South, Bracemac-McLeod, Perseverance, and Norita, are found at depths ranging from the surface to over 1,200 metres.
The current campaign will consist of four drill holes of approximately 500 metres each. They will specifically test silver-rich plunge extensions beneath the old pit, where mineralized axes converge. This marks the first time these high-value targets will be tested at depth.
Historical Production
Historical production at the Abcourt-Barvue mine totals more than 5.6 million tonnes of ore extracted during two periods:
- Open-Pit Period (1952-1957): Approximately 5.0 million tonnes with grades of 38.74 g/t silver and 2.98% zinc.
- Underground Period (1986-1990): Nearly 632,000 tonnes extracted by Abcourt Mines with grades of 131.65 g/t silver and 5.04% zinc.
Combined total historical production includes approximately 5,634,500 tonnes of processed ore, 320 million pounds of zinc, and 6.7 million ounces of silver.
Historical Resource Estimates
The last economic scoping study conducted by P. Bonneville and F. Baril in 2019 highlighted the asset's robustness. The historical resource assessment of the Barvue deposit is as follows:
| Resource Category | Tonnes (Mt) | Silver (g/t) | Zinc (%) |
|---|---|---|---|
| Measured & Indicated | 8.08 | 55.45 | 3.06 |
| Inferred | 2.03 | 114.16 | 2.89 |
| Total (Combined) | 10.11 | 67.27 | 3.02 |
The 2019 scoping study used a silver price of $16.50 USD per ounce. With current prices exceeding $70 USD, the intrinsic value of these resource blocks benefits from a financial leverage effect nearly four times higher.
