Abcourt Purchases 23 Claims in Barraute Township, in Abitibi, to Enlarge its Abcourt-Barvue Property
MONT-ST-HILAIRE, QUÉBEC--(Marketwired - Sept. 24, 2013) - Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:AML)(FRANKFURT:AML) ("Abcourt" or "the Company"), is pleased to announce the purchase of 23 claims (the "Property") in Ranges V and VI in Barraute Township, Abitibi, from Galahad Metals Inc., to enlarge its Abcourt-Barvue property. The Property covers the eastern extension of the Abcourt-Barvue silver-zinc structure and is adjacent to the Bartec gold zone which is on a property that Abcourt optioned in the 1980's and contains a non-compliant 43-101 Resource of 80,000 tonnes grading 5.8 g/t of gold. Historic drilling on the Property in hole B86-6 intersected 36.36 grams gold per tonne over 1.04 m from 47.75 m to 48.79 m. In addition, historic drilling has also identified other gold showings on the Property.
Consideration for the acquisition is $5,500 cash and 150,000 class B common shares of Abcourt.
The Company has also reached an agreement with Teck Resources Limited ("Teck") under which Teck has agreed to extinguish their pre-existing right of first refusal and a back-in right (the "Rights") with respect to the Property. In consideration of the extinguishment of the Rights, Teck has been granted a 1.5% net smelter royalty on the Property.
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Keine Kauf-Verkaufsempfehlung. "Das Glück des einen ist das Unglück des anderen"
