Abitibi Metals (CSE: AMQ; US-OTC: AMQFF) is pushing towards 80% ownership of the B26 copper-gold project in Quebec under its option with SOQUEM, a subsidiary of provincial corporation Investissement Quebec, CEO Jon Deluce says.
As drilling moves into the third stage and the preliminary economic assessment (PEA) develops, the company reports it is funded until 2027. It is also using new geotechnical work to explore targets along an 8.4-km trend beyond the current deposit area.
“We’re really swinging to showcase the large-scale growth potential and how this could be a Selbaie-size deposit,” Deluce told The Northern Miner’s Western Editor, Henry Lazenby, on the sidelines of the Precious Metals Summit in Colorado. Selbaie refers to the historic Selbaie mine next door, a past-producer in the same camp that turned out about 53 million tonnes over roughly 20 years.
Abitibi has three drills turning as it chases step-outs and high-grade zones at depth.
The company’s current campaign aims for resource growth and definition drilling. It uses downhole geophysics and property-wide targeting to support the PEA. The SOQUEM earn-in totals $14.5 million of work with a PEA and an equity top-up; on completion, the project will convert to an 80-20 joint venture.
Watch the full interview below:
Joint venture videos are paid-for content in partnership with The Northern Miner.
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