MONT-ST-HILAIRE, QUEBEC, CANADA, Oct 08, 2010 — Mr. Renaud Hinse, president and C.E.O. of Abcourt Mines Inc. (tsx venture:ABI)(berlin:ABI)(frankfurt:ABI), is pleased to announce that excellent results have been obtained in surface diamond drilling at the east end of the Elder Gold Property, as follows:
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Hole From To Length Gold
No M M Meters Grams/tonne
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E10-01 134.15 135.15 1.00 4.86
175.17 176.04 0.87 5.82
E10-02 186.47 187.70 1.23 7.60
199.50 201.87 2.37 8.24
E10-20 175.86 177.36 1.50 4.97
E10-22 44.90 46.40 1.50 6.30
E10-23 28.25 32.11 3.86 6.54
E10-24 51.48 54.96 3.48 6.30
59.16 60.88 1.72 4.46
E10-27 86.53 88.88 2.35 8.41
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AVERAGE 1.99 6.55
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All assays were done by Techni-Lab S.G.B. Abitibi inc., an approved laboratory.
Ten holes, for a total of 1,653 meters, were drilled to confirm the eastern extension of the no.1 vein beyond the mine workings. All holes were drilled vertically. The best seven holes are reported above. Holes E10-01, E10-02 and E10-24 intersected two veins. Holes E10-21, E10-25 and E10-26, not reported, intersected only narrow veins. Two drills will be used over the next three months of this year to further extend the mineralized zone to the east and to the west.
In the past (1944-1964), the Elder mine produced 350,000 ounces of gold.
In July 2009, a revision of the resources for the Elder property was completed by an independent qualified person, Mr. Jean-Pierre Berube, P. Eng., consultant from Trois-Rivieres, Quebec, Canada. This revision was made according to NI 43-101 Standards.
Here is a summary of the non-diluted resources -Converted to metric:
Cut-off grade 3.8 grams/tonne 5.1 grams/tonne
Description Tonnes Au gr/t Ounces Tonnes Au gr/t Ounces
Measured 402,286 6.5 83,635 256,379 7.7 63,736
Indicated 402,742 6.6 85,502 287,296 7.7 71,422
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Measured &
Indicated 805,028 6.5 169,137 543,675 7.7 135,158
Inferred 237,289 6.1 46,722 159,704 7.2 37,067
Our objective with the current drilling programme is to expand these resources.
Abcourt Mines Inc. is an exploration and development company with strategically located properties in Northwestern Quebec, Canada. The Abcourt-Barvue project with 43-101 silver-zinc ore reserves and resources and the Elder mine with 43-101 gold resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Abcourt-Barvue and Elder projects back in production and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment was purchased. A 43-101 resource calculation was recently done for the Elder mine. To know more about Abcourt, please consult our web site www.abcourt.com and Sedar www.sedar.com, see “Abcourt Mines Inc”. A small location plan and longitudinal projection of the Aldermac mineralized zones are shown on our web site. A small location plan of the Elder and Tagami properties is also shown on our web site.
FORWARD-LOOKING STATEMENTS: Except for statements of historical facts, all statements in this news release, including, without limitation, statements regarding forecasts, plans and objectives of Abcourt Mines Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. This press release was prepared by Mr. Renaud Hinse, a qualified person, president of Abcourt Mines Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
