Abitibi Metals Corp. announced results from the second batch of holes of the maiden drill program currently underway at the B26 Polymetallic Deposit. The Company is currently completing its winter drill program at the Deposit, where 13,500 metres is to be drilled under the first phase of a fully funded 30,000-metre 2024 field season.

Drillhole 1274-24-297 was designed to test the up-dip structure closer to the surface of historical hole 1274-14-193, which intercepted 1.65% CuEq over 12.8 metres ending at a depth of 200.5 metres. The hole successfully expanded the silver-zinc zone under the bedrock contact, 50 metres updip from hole 1274-14-193. The interval of 1.47% Zn and 19.22 g/t Ag represents an estimated true thickness of 30 metres.

The following copper zone expands about 25 metres closer to the surface with grade varying from 0.1% to above 4% Cu over metric intervals. Overall, two intervals can be calculated of 0.45% and 0.44% CuEq respectively over 23.4 metres and 8.55 metres. The mineralized structure, identified by a sericite-chlorite rich composition, was cut from a vertical depth of 55 to 110 metres.

Drillhole 1274-24-298 crossed over 60 metres a clay rich host rock with evidence of dissolved chalcopyrite, traces of copper sulfates originating from a weathering process. Drillhole 1274-24-299 was designed to test the up-dip extension closer to the surface of the copper-bearing structure intercepted in historical hole 1274-14-197, which graded 1.22% Cu over 19.5 metres. A succession of sub-concordant chalcopyrite stringers, dissemination halos and chalcopyrite-bearing quartz veins were observed from 30 to 107.9 metres.

The best interval of 1.05% CuEq over 10.4 meters started at 33 metres just under the bedrock contact. Drillholes 1274-24-300 and 1274-24-301 were planned to infill a central cluster of chalcopyrite stringer and quartz veining cross-cutting historical down dip holes 1274-16-238 and 1274-16-240. The two holes are separated laterally by about 150 metres.

The best interval from #301 (1.47 % CuEq over 97.5 metres) started under the bedrock contact from 30.5 to 128 metres downhole, representing an estimated true thickness near the core length of 97.5 metres. #301 intercepted a shorter higher-grade interval of 5.35% CuEq over 8.1 metres from 251.45 to 259.6 metres, which also contained 1.1 g/t Au. The mineralization was intercepted about 12 metres above historical hole B26-03M, which returned 8.1% CuEq over 5.3 metres with a 4.0 g/t gold component.

Drillholes 1274-24-335 and 1274-24-334 were designed to test the continuity of a potential satellite zone 500 metres to the west of the main deposit. Drill hole 1274-24-335 highlighted indications of a strong VMS system with local sphalerite bands and stringers with accessory chalcopyrite hosted in chert tuff. The best interval obtained from #335 with 1.05% CuEq over 8.6 metres followed by lower-grade mineralized intervals of 0.49% CuEq and 0.82% CuEq over 7.55 metres and 6.4 metres, respectively.

The disseminated chalcopyrite mineralization hosted in a tuffaceous sequence extends down to 310 metres along the hole. The core logging program is run by Explo-Logik in Val d'Or. The drill core was split with half sent to AGAT Laboratories and prepared in Val d'Or, QC.

All samples are processed by fire assays on 50gr with Atomic Absorption finish and by ?four acids digestion? with ICP-OES finish respectively for gold and base metals. Samples returning a gold grade above 3 g/t are reprocessed by metallic screening with a cut at 106 µm. Material treated is split and assayed by fire assay with ICP OES finish to extinction.

A separate split is taken to assay separately mineralized intervals with target grades above 0.5% Cu using Na2O2 fusion and ICP-OES or ICP-MS finish. Samples preparation duplicates, varied standards, and blanks are inserted into the sample stream.