Das nenne ich mal fette NEWS!!!!!!!
Abcourt property has 7.01 million tonnes of resources
2006-06-01 16:45 ET - News Release
Mr. Renaud Hinse reports
ABCOURT REPORTS A SUBSTANTIAL INCREASE IN ZINC AND SILVER MEASURED AND INDICATED RESOURCES AT ITS ABCOURT-BARVUE PROPERTY
Abcourt Mines Inc.'s revision of its resources for the Abcourt-Barvue property has been completed by an independent qualified person, Jean-Pierre Berube, PEng, consultant for MRB & Associates of Val-d'Or, Que. This revision was made according to National Instrument 43-101 standards.
Here is a summary of the resources:
Open pit (not diluted)
Classification Tonnes Ag g/t % Zn Ounces Ag Tonnes Zn
Measured resources
Abcourt pits 1,009,151 81.52 2.87 2,644,954 28,963
Barvue pit 4,116,978 38.11 3.41 5,044,466 140,389
Total open pits 5,126,129 46.65 3.30 7,689,420 169,352
Underground (not diluted)
Measured resources
Abcourt 1,047,878 114.31 3.12 3,851,170 32,694
Barvue 341,856 61.63 4.28 677,381 14,631
Total measured 1,389,734 101.36 3.40 4,528,551 47,325
Indicated resources
Abcourt 232,214 111.53 3.43 832,679 7,965
Barvue 270,892 87.05 3.44 758,163 9,319
Total indicated 503,106 98.34 3.44 1,590,842 17,284
Total measured and
indicated, open pit and
underground 7,018,969 61.17 3.33 13,808,813 233,961
Inferred resources
Abcourt and Barvue 1,505,687 120.53 2.98 5,834,727 44,869
Several composite samples assayed for gold gave an average grade of 0.138 gram per tonne.
Comparison between the non-diluted measured and indicated resources of 2005 and those of 2006
The non-diluted measured and indicated resource estimates of 2005 and those of 2006 compare as follows:
2005 estimate: 3,696,009 tonnes at 70,47 g/t Ag, 3.94 per cent Zn; and
2006 estimate: 7,018,969 tonnes
st 61,17 g/t Ag, 3.33 per cent Zn.This indicates a very large increase in tonnes (plus 90 per cent)
with only a small reduction in the silver grade (minus 13 per cent) and in the zinc grade (minus 16 per cent).
Similarly, the measured non-diluted open pit resources increased from 2,162,614 tonnes at 66.34 g/t silver and 3.89 per cent zinc in 2005 to 5,126,129 tonnes st 46.65 g/t silver and 3.30 per cent zinc in 2006. Obviously, there is a very large increase in pit tonnage (plus 137 per cent).
The increase was brought about in part by the success of the company's 2005 drilling program and by using a lower cut-off grade. The discoveries made in the company's 2005 drilling program were made along the known mineralized zone and the cost of the additions was very low.
In the pits, in addition to the resources indicated above, there are 1,341,000 tonnes of mineralized material with a grade of 17.86 g/t silver and 1.58 per cent zinc.
The open pit limits were provided by Abcourt and accepted by the qualified person.
Criteria used for the calculation of resources
For the calculation of the Abcourt-Barvue resource estimates, the reasonable parameters established by Innovexplo Inc. have been used. These parameters are based on recommendations of the CIM Standing Committee on reserves definitions (CIM Definition Standards, Nov. 1, 2004).
A fixed density of 3.0 grams per cubic centimetre as obtained from tests done on core samples was used for the tonnage estimate. The minimum horizontal width used was 1.5 metres (5.0 feet). No dilution factor was included.
The Abcourt-Barvue deposit is characterized by some high-grade silver values (mainly in the Abcourt zone), requiring that a high-grade assay cutting value be established in order to reduce the risks of overestimating the total silver content of the deposit. The high-grade assay cutting value has been established by Abcourt. A high-grade cutting value of 15 ounces per ton. Ag was used by Abcourt during previous mining operations (between 1985 and 1990) and in previous resource estimates. For zinc, no cutting value was used.
Based on $10.00 (U.S.) per ounce for silver, $1.00 (U.S.) per pound for zinc and a rate of exchange of 86 U.S. cents per $1.00 (Canadian), it was found by Abcourt that one ounce of silver in the ore is equivalent to 0.65 per cent zinc. Based on the prices indicated above and estimated mining costs, the following cut-off grades were established by Abcourt for different mine sectors:
Abcourt open pit: 2.4 per cent zinc equivalent
Barvue open pit: 2.55 per cent zinc equivalent
Underground: 3.20 per cent zinc equivalent
Method used to calculate the resources
The estimated resource blocks were delineated in two steps. First, the measured and indicated resources were delimited on cross-sections in areas characterized by a greater density of geological data (example: fringes of open pit or underground workings, or areas with regular drill holes spacing of 15 m to a maximum of 30 m). The mid-distance rules were applied on sections and laterally between drill hole intercepts for defining the resource blocks. Grade of the estimated blocks were obtained from weighted averages of drill hole intercepts or from underground sampling when available. Areas of influence for each polygon were obtained on sections from Autocad drafting tools. Lateral influences of the polygons were defined on the longitudinal view using the mid-distance rule. Usually 7.5 m away and 7.5 m toward for measured resources obtained from sections drilled on a 15 m spacing and 15.0 m away and 15.0 m toward for indicated resources from sections drilled on 30 m spacing. The influence of one drill hole intersection on a cross-section represents approximately 15 m (down dip) for measured resources and 30 m (down dip) for the indicated resources.
Inferred mineral resources were obtained in a second step from polygons drafted on the longitudinal view in areas characterized by fewer drill hole intercepts (example: drill holes spacing of 60 m and more). The area covered by the measured and indicated resources was transferred on the longitudinal view and was used as a boundary for limiting the influence of drill hole intercepts. The area covered by each inferred polygon was obtained with Gemcom and Autocad software. The horizontal widths combined with the areas shown on the longitudinal view were used to obtain the volume of resource blocks. The grade of the drill hole intercepts was applied to the volumes.
Description of the property and orebody
The Abcourt-Barvue project is located in the Val-d'Or area, northwestern Quebec, Canada. Existing mine infrastructures are readily usable. In the past, the Abcourt-Barvue deposit produced 5,002,190 metric tons grading 38.74 g/t Ag and 2.98 per cent Zn (1952-1957, Barvue open pit) and 632,319 metric tons grading 131.65 g/t Ag and 5.04 per cent Zn (1985-1990, Abcourt underground).
The property represents an area of 3,452 hectares and includes two mining concessions and 85 mining claims. Some claims of the Abcourt-Barvue property are subject to a small royalty.
The Abcourt-Barvue silver-zinc deposit is classified as a volcanogenic disseminated sulphide deposit. The Abcourt-Barvue deposit shares numerous similarities with the Mattabi volcanogenic deposit. The Zn and Ag sulphide mineralization (disseminated and bedded sphalerite and pyrite) is found in close association with felsic volcanoclastic rocks within a strong carbonate (siderite, ankerite and calcite), sericite (plus or minus pyrophyllite) in a silica alteration zone. The Abcourt-Barvue ore zone thickness ranges from two m to 30 m and extends over an east-west length of 2.2 kilometres. Mineralization has been recognized to a maximum vertical depth of 425 m below surface. Lithological units and the mineralization have a steep (75-degree) dip to the north.
Review by the outside consultant
The review made by the outside engineer covered all information from previous exploration programs and mining activities on the project. Validation and consultation of pertinent documents were also completed for the mining rights, claim status and environmental status via Internet on the Quebec government official website. The author's review has indicated that there are no known environmental, permitting, legal, title, taxation, socio-political and marketing issues that would affect the mineral resource estimates. The author's responsibility consisted in assessing the geological information from previous programs and other relevant data, such as infrastructure, mill and tailings pond and resources estimates. The author considers that this review was thoroughly done and included all the pertinent information on the Abcourt-Barvue property and neighbouring deposits.
The author, Mr. Berube, reviewed some core from the 2005 drilling program including mineralized and unmineralized intervals before their sampling. He also visited the surface installations on the Abcourt-Barvue mine site (April 11, 2006) and selected 14 samples from hole AB05-02 to be check assayed.
Recommended exploration program
After a review of the geological information on the property, Mr. Berube concluded that the mineral potential of the Abcourt-Barvue property is of sufficient merit to justify a $3-million exploration program, with the objective of exploring at depth below the existing resources, along strike to find offset extensions of the ore zone, and on some other excellent targets outside the main ore zone.
Feasibility study
Abcourt is conducting a feasibility study on the Abcourt-Barvue project. This study will have to determine if the measured and indicated resources may be transferred into proven and probable reserves. By definition, the economic viability of a mineral resource has to be demonstrated before it may be classified as a mineral reserve. This is the objective of the company's continuing feasibility study.
The technical information contained in this press release has been approved by Mr. Berube, PEng, an independent qualified person under the terms of NI 43-101.
We seek Safe Harbor.