Abcourt Provides an Update on its Activities at Sleeping Giant and Announces the Granting of Stock Options to a Director and Certain Employees
2024年8月20日 - 8:30PM
Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX
Venture: ABI) (OTCQB: ABMBF) presents an update on
its activities at the Sleeping Giant mine for the month of July
2024.
Highlights:
-
Lost time accident frequency: 0.0;
-
8,707 hours worked for employees and contractors;
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Addition of computer stations dedicated to training;
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Obtaining construction permits for the workers’ camp;
-
Surface: Progress of work on the tailings pond in anticipation of
planned upgrades in 2025 and 2026;
-
Underground: Rehabilitation of refuge stations and surface piping
up to level 665;
-
Exploration and definition drilling of 507 metres to support the
design of future stopes;
-
Selection of a mining contractor for the execution of an
underground vertical raise contract;
-
Delivery of 96 ounces of gold to the Royal Canadian Mint.
Next steps and Planning:
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Development of raises and galleries for future stopes;
-
Begin extraction from stopes;
-
Construction and development of a camp to house 110 workers at the
mine site;
-
Advancement of geotechnical engineering planning to optimize the
design of future dam raises in the tailings pond in 2025 and
2026;
-
Hiring of approximately 100 people, mainly underground, by winter
2025.
Since the announcement of the closing of the
private placement on July 25, 2024, Abcourt has accelerated job
interviews at the Sleeping Giant mine. The Corporation’s short-term
objective is to increase the number of miners and accelerate the
development and extraction of the first stopes. Item No. 1 on the
critical path to commercial production is the construction of the
camp to house the workers.
Grant of Stock Options
On August 1, 2024, the Board of Directors of the
Corporation granted stock options to its new director, Noureddine
Mokaddem, appointed on July 24, 2024, on the same terms as those
granted last year to its directors. These stock options allow to
subscribe 1,500,000 common shares of Abcourt at an exercise price
of $0.05 per share, expiring in 5 years. Stock options on a total
of 2,000,000 common shares were also granted to some employees, at
the same conditions.
Qualified Persons
Mr. Pascal Hamelin, Eng, President and Chief
Executive Officer of the Corporation, wrote, collected, verified
and approved the technical information contained in this press
release.
Mr. Hamelin is a Qualified Person under
Regulation 43-101.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian exploration
corporation with strategically located properties in northwestern
Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where
it concentrates its activities.
For further information, please visit our
website at www.abcourt.com and consult our filings under Abcourt's
profile on www.sedarplus.com, or contact:
Pascal HamelinPresident and CEOT:
(819) 768-2857E: phamelin@abcourt.com |
Dany Cenac Robert, Investor
RelationsReseau ProMarket Inc.,T: (514)
722-2276, post 456E: dany.cenac-robert@reseaupromarket.com |
Cautionary Statement on Forward-Looking
Information
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Such forward-looking information
includes, but is not limited to, statements concerning the
Corporation’s expectations with respect to the use of the available
funds following completion of the Private Placement; and
expectations with respect to other activities, events or
developments that the Corporation expects or anticipates will or
may occur in the future. Forward-looking information involves
risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, delays in obtaining or failures to obtain required
approvals; uncertainties relating to the availability and costs of
financing needed in the future; changes in equity markets;
inflation; fluctuations in commodity prices; delays in the
development of projects; other risks involved in the mineral
exploration and development industry; and those risks set out in
the Corporation’s public documents filed on SEDAR+ at
www.sedarplus.com. Although the Corporation believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Corporation disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Neither the 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 news release.
Abcourt Mines (TSXV:ABI)
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