Abitibi Metal Mines, a small, Montreal-listed junior (not to be confused with Abitibi Resources), is very optimistic about mining 500,000 tons of what it calls probable ore, on a 6-claim property north of Marlartic, Que. and using heap leaching techniques to recover gold, estimated to grade 0.06 oz per ton.
“The profitability of this project will be determined by a re-evaluation of the property this year,” Executive Vice-President Pedro Cardoso, says in the company’s annual report.
The property is called the Audet property.
Earlier this year the company took a 4,165-ton bulk sample from the surface showing of a zone that’s been traced to a depth of 100 m. The sample was processed in Louvem Inc’s mill at Manitou and yielded 443.51 oz of the yellow metal.
Only 16 holes have been drilled into the zone.
Abitibi is in the final stages of a public financing, designed to raise in the order of $4 million for exploration work on this and four other properties being worked by the company in northwestern Quebec.
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