Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX
VENTURE:ABI)(BERLIN:AML)(FRANKFURT:AML) (the "Company"), reports that a NI
43-101 resource report on Vendome property has recently been filed on SEDAR.
This report was prepared by Mr. Jean-Pierre Berube, B.Sc., Eng. (the "Author"),
an independent consulting geologist and a Qualified Person with past relevant
work experience in that matter.
ABCOURT is the 100% owner of the Vendome property which consist in fifty-nine
(59) contiguous mining claims (CL) located in Range 10 of Fiedmont Township and
Range 1 of Barraute Township. The Vendome deposit is located 3 km west of the
municipality of Barraute in the province of Quebec and is easily accessible by
car via routes 117 and 397 joining Montreal to Barraute. The property is subject
to a 2% net smelter return on any production originating from the 15 half claims
of Xstrata Zinc that covers the Vendome VMS deposit and the Mogador gold
occurrence. A right to purchase or treat any concentrate produced from the
former Xstrata Zinc Vendome property is also included in the deal concluded in
February 28, 2011.
The Vendome property straddles the contact between the Landrienne and the
Heva-Nord Formations. This contact is intruded by the Mogador granodiorite
stock. A 0,7 to 1,0 km thick felsic volcanic sequence lies in the central part
of the property. This sequence is mainly composed of massive dacite to rhyolite
flows interbedded with thin units of pyroclastic rocks having variable sizes.
This felsic layer is bounded by massive variolitic andesite flows.
The Vendome property includes three volcanogenic massive sulphides (VMS)
deposits and one gold occurrence namely called and proceeding westward; Vendome,
Barvallee, Mogador (gold) and Belfort. There are many zones of massive and
disseminated pyrite and pyrrhotite mineralization within the tuffaceous bands
hosting the VMS deposits. These mineralized units strike N70 degrees W and dip
steeply to the north (Vendome) to 55-60 degrees north (Barvallee) on the
westward direction.
At the request of the Author, four (4) holes totalling 658 metres were drilled
to fulfill some of the following requirements; 1) get tangible geological
information from the drilled core, 2) get assay results and mineralized
intervals from the Vendome deposit and, 3) test the Belfort deposit in drilling
a hole 1,7 km west from the Vendome shaft collar. The holes intersected the
mineralized zones at their expected location and vertical depth. Assay results
are as following;
----------------------------------------------------------------------------
From To Length Au Ag Cu Zn
Hole ID (m) (m) (m) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
V11-01 56,9 59,7 2,8 0,38 34,29 0,02 3,74
----------------------------------------------------------------------------
V11-01 64,1 65,8 1,7 0,12 49,61 0,05 15,78
----------------------------------------------------------------------------
V11-02 171,5 173,3 1,8 0,32 11,03 0,21 1,53
----------------------------------------------------------------------------
V11-02 175,5 208,5 33,0 1,70 95,84 0,94 7,72
----------------------------------------------------------------------------
V11-03 108,5 110,0 1,5 2,85 176,60 0,08 0,02
----------------------------------------------------------------------------
V11-03 112,7 120,5 7,8 2,23 133,39 0,40 16,55
----------------------------------------------------------------------------
V11-04 207,9 211,5 3,6 0,67 16,88 0,32 11,05
----------------------------------------------------------------------------
Table 1a. Best intersections from surface holes V11-01 to 04.
The data made available in a paper format represents more than 540 diamond drill
holes (66,700 metres) and about 25,000 individual assay results. The Author
spent a large amount of time to validate the assay results of the borehole logs
with the assay certificates. The Author didn't observe any major errors. The
Author made a new calculation of all composite intervals made available from
hole-to-hole and hole-to-chip/muck samples taken for any block outlined in the
current report.
It was observed that a few surface holes are not perfectly in line with the ore
outline. Nevertheless, it was also possible to survey the casing of five of them
(G8, G-16, X-18, X-32 and 72-3A). It was found that they were all within 0,5
metre from the position they were plotted on ABCOURT's and NORANDA compilation
maps.
On June 14th 2011, the Author visited the Vendome property guided by Mr. Eugene
Gauthier, who was the senior geologist of ABCOURT at that time. This site visit
included a field tour of the newly drilled holes V11-01 to 04 and a core review
of mineralized and un-mineralized intervals.
The block method was used for this resources calculation. Resources categories
for the Vendome, Barvallee and Belfort deposits are following the
recommendations of the CIM Standing Committee on Reserves Definitions. The
detailed resources calculation for all the blocks are provided in Appendix III
and they were plotted on sections (paper format). The parameters used for this
mineral resources calculation are;
-- Specific Gravity: 3,60 t/m3,
-- Minimum (true) width: 1,50 m,
-- No cuts on high Au, Ag, Cu and Zn values,
-- Minimum cut-off of 55$/t or 4,53% zinc equivalent (ZnEq) based on the
average metal prices in US$ over the past 3 years (June 2009 to May
2012):
gold = $1,359.94/ounce; silver = $25.91/ounce; copper = $3.53/pound;
zinc = $0.95/pound
The geological resources of the Vendome property are totalling 1,018,102 tonnes
grading 1,15 g/t Au, 53,10 g/t Ag, 0,59% Cu and 6,54% Zn in all categories
(Table 1b).
----------------------------------------------------------------------------
ZONE MEASURED + INDICATED INFERRED
--------------------------------------------------------------
TONNES Au Ag Cu Zn TONNES Au Ag Cu Zn
--------------------- ---------------------
(g/t) (g/t) (%) (%) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
Vendome 559 506 1,18 62,18 0,52 8,11 116 048 0,73 40,78 0,49 4,55
----------------------------------------------------------------------------
Barvallee 152 826 1,39 52,54 1,05 5,26 123 096 1,20 42,50 0,65 3,30
----------------------------------------------------------------------------
Belfort 0 0,00 0,00 0,00 0,00 66 625 1,05 19,22 0,18 5,71
----------------------------------------------------------------------------
TOTAL: 712 332 1,23 60,11 0,63 7,50 305 769 0,99 36,77 0,49 4,30
----------------------------------------------------------------------------
---------------------------------------------
ZONE TOTAL ALL CATEGORIES
-------------------------------
TONNES Au Ag Cu Zn
---------------------
(g/t) (g/t) (%) (%)
---------------------------------------------
Vendome 675 554 1,10 58,50 0,51 7,50
---------------------------------------------
Barvallee 275 923 1,31 48,06 0,87 4,38
---------------------------------------------
Belfort 66 625 1,05 19,22 0,18 5,71
---------------------------------------------
TOTAL: 1 018 102 1,15 53,10 0,59 6,54
---------------------------------------------
Table 1b. Total measured, indicated and inferred resources for all zones
(refer to Appendix III for details).
Moreover, the upper levels of the Vendome deposit are already developed and the
property is 17 km away from the Abcourt-Barvue Ag-Zn deposit where over 7 Mt of
Ag-Zn mineralization can be processed (Source: Genivar's Feasibility Study of
2007).
The Author is proposing an exploration budget of 500,000$ allowing an EM-Mag
airborne survey and 4,250 metres of diamond drilling followed by In-the-Hole EM
surveys to test the felsic units hosting the Vendome, Barvallee and Belfort VMS
deposits.
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, Vezza,
Jonpol and Vendome) to increase its mineral resources inventory. A 43-101
resource calculation was completed in July, 2012, for the Elder Mine. A positive
PEA report was prepared on Elder mine in the Fall of 2012 by Roche Limited,
Consulting Group. A positive 43-101 feasibility study was completed by GENIVAR
in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was
purchased. A positive PEA report on Elder mine, prepared by Roche Ltd,
Consulting Group, was recently received (November 2012)To know more about
Abcourt, please visit our web site at www.abcourt.com and SEDAR.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Renaud Hinse, President and CEO
819 768-2857 or 450 446-5511
819 768-5475 or 450 446-3550 (FAX)
rhinse@abcourt.com
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