Highlights:
Hole 1274-17-269-W1b intersected 20 metres of strong VMS style mineralization 80 metres beyond current resource boundary. Visual observations (refer to Figure 1) confirm the presence of copper stringers and mineralization in key growth corridors; assays pending.
A total of six holes completed, and 4,829 metres drilled to date in Phase 3, with two rigs active and 15,171 metres remaining.
London, Ontario--(Newsfile Corp. - July 21, 2025) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to report on the progress of its ongoing Phase 3 drill program at the B26 Polymetallic Deposit in Québec. Drilling has successfully intersected mineralization outside the current Mineral Resource Estimate ("MRE"), confirming expansion potential in multiple directions. The Company currently owns 50% of the B26 Deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023).
As of this release, six holes have been completed in Phase 3 and a total of 4,829 metres drilled to date (This includes the holes drilled prior to breakup). Two drill rigs remain active on site, testing high-priority expansion zones across the western, down-plunge, and southeastern extensions of the B26 mineralized system.
"What's particularly exciting is the volume of high-grade mineralization sitting outside the current resource model," added Jonathon Deluce, CEO of Abitibi Metals. "The holes being drilled in this phase 3 program have the potential to rapidly convert the open zones into a new phase of resource growth - and that's where a company value re-rating begins. It's also important to highlight that results from our Phase 2 drill program were not included in the recent resource update, underscoring the additional future upside for Abitibi Metals."
CEO Update - Video
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Drilling Update at B26 Deposit:
Abitibi has completed several key step-out holes designed to test the boundaries of the current resource model. Visual analysis of core indicates strong mineralization in multiple holes.
Notable Highlights include:
1274-17-269-W1b: Intersected a mineralized zone approximately 80 metres beyond the existing MRE, representing a meaningful step-out and validating continued growth potential. This hole encountered a heavily mineralized interval of 6.6 metres from 993.0 within a broader 17.4-metre mineralized package between 982.2 and 999.6 metres downhole; assays are pending.
1274-17-269-W2b: Currently in progress, targeting an additional 80-metre step-out from hole 1274-24-338W1 in the eastern extension, aimed at following up on previously intersected mineralization
1274-25-368: Currently in progress, targeting an additional 160-metre step-out from hole 1274-16-234 in the eastern extension, aimed at following up on previously intersected mineralization.
1274-25-367: Drilling has been completed with core processing in progress, targeting an additional 80-metre step-out from hole 1274-14-182 in the eastern extension, aimed at following up on previously intersected
Figure 1: Copper stringers mineralization observed in Hole 1274-17-269W1b
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11775/259432_055ae18f84963b8a_002full.jpg
Figure 2: B26 Long Section with Holes Completed
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https://images.newsfilecorp.com/files/11775/259432_055ae18f84963b8a_003full.jpg
B26's Expansion Potential:
With over 1.8 km of strike length and excellent vertical continuity, the 2024 mineral estimate of B26 outlines a global resource of 11.3MT @ 2.13% Cu Eq (indicated) & 7.2MT @ 2.21% Cu Eq (inferred). However, as the current drilling demonstrates, the system remains open in multiple directions, providing the opportunity to significantly grow current resources, positioning Abitibi Metals as one of the most compelling copper growth stories in Canada.
Strategic Focus of Phase 3 Program:
With up to 17,500 metres planned in Phase 3, drilling is focused on multiple targets as outlined in the recently released long section:
Western Extension: Multiple holes are testing the western strike of high-grade Cu-Au lenses, targeting continuity up to several hundred metres beyond the current model.
Eastern Extension: Six holes to test the eastern extension of the deposit in the vicinity of the N-S diabase dyke
Down-Plunge Growth: Deeper drilling aims to extend the interpreted plunge of the Cu-Au system with potential additional high-grade lenses at depth.
Southeastern Gravimetric Anomaly: A large untested geophysical target southeast of the main zone, situated along the plunge vector, is now being drilled and may represent a blind lens and have the potential for a massive extension of the mineralized system.
Central Zone Step-Outs and Infill: Holes are designed to improve model confidence and continuity as well as testing lateral expansion potential in zones with prior high-grade hits (>2.0% CuEq).
Branch Hole Strategy: Directional drilling technology is being used from existing collars to efficiently test multiple orientations around positive results, minimizing time and reducing drilling costs.
All targets were selected based on 3D modelling of the updated 2024 resource, historical drilling, and advanced geophysical interpretations.
Figure 3: B26 Deposit-Long Section Target Summary
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Collectively, these targets represent a critical step in unlocking the next phase of growth at B26. With the potential to significantly expand the strike length, depth, and overall mineralized footprint of the deposit, this phase of drilling could significantly enhance the scale, grade continuity, and long-term development potential of one of Quebec's most promising mineral deposits.
Looking Ahead:
Initial assay results from Phase 3 are expected in the coming month and will continue throughout the remainder of 2025. Abitibi Metals is fully funded to Q1, 2027, the Company has budgeted approximately 25,000 additional metres for Phase 4 drilling, to be strategically deployed in 2026 based on ongoing exploration success.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Abitibi Metals Corp:
Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones.
About SOQUEM:
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
For more information, please call 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada - Geostat., Effective Date: November 1, 2024, Date of Report: February 26, 2025
Forward-looking statement:
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259432
SOURCE: Abitibi Metals Corp.
