The funds will go towards exploration work carried out on the Jolin gold property in Carpentier Twp. near Val d’Or, Que., says the company, which is negotiating another financial deal to resume work on the property.
It is expected surface drilling and construction of an access ramp to the mineralized zone will be part of the next exploration program. Drill-indicated reserves stand at 231,500 tons grading 0.175 oz gold per ton.
Abitibi Metal also announces abandonment of its Belleterre- Guillet Twp. option. The company came to its decision after preliminary drilling work was undertaken on the property.
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