Abitibi Royalties Inc.: Malartic CHL Joint Venture 2012 Drill Assay Results
Property-Scale Exploration Targeting Geo Zone: 19.70 metres averaging 0.94 g/t Gold 6.35 metres averaging 1.51 g/t Gold North Geo Zone: 3.00 metres averaging 4.99 g/t Gold 1.50 metres averaging 4.95 g/t Gold
(firmenpresse) - VAL-D'OR, QUEBEC -- (Marketwired) -- 07/15/13 -- Abitibi Royalties Inc. (TSX VENTURE: RZZ) (the "Company" or "Abitibi Royalties") is pleased to report on the third and final series of assay results from the 2012 drill program on the Malartic CHL Prospect, located immediately east of Osisko Mining Corporation's ("Osisko") 100%-owned Canadian Malartic gold mine property. The information that follows has been provided to Abitibi Royalties by joint venture partner, and program operator, Osisko.
The assay results contained herein pertain exclusively to exploration targets outside of the main mineralized ore zones (namely the Mammoth Extension Area and the Hal Zone located immediately south of the Jeffrey Zone). These exploration targets include the Geo Target Area (4 ddh's, 663-metres) located on-strike with the Jeffrey Zone to the east, the North Geo Target Area (3 ddh's, 675-metres) located along the northeastern boundary of the Jeffrey Zone, the Eastern CHL Target (1 ddh, 246 metres) and Cadillac Group Sediments (2 ddh's, 423-metres).
Highlights for the ten (10) new drillholes include 19.70 metres averaging 0.94 g/t gold (CHL12-2434) and 6.65 metres averaging 1.51 g/t gold (CHL12-2418) from the Geo Target Area and 13.20 metres averaging 0.58 g/t gold (CHL12-2415) and 3.00 metres averaging 4.99 g/t gold (CHL12-2416), including 1.50 metres averaging 9.12 g/t gold from the North Geo Target Area.
Drillhole Assay Table
Please refer to the attached Figures 1, 2, and 3 () for the locations of the individual holes listed in the above drillhole assay table.
In summary, the 2012 drill program consisted of thirty-one (31) new drillholes in addition to two (2) drillhole extensions, totalling 5,660.2 metres, targeting six (6) separate areas. For specific details related to the program as well as the individual drillhole assay results from the Mammoth Extension Area and Hal Zone (Jeffrey Zone), please refer to the Company's news releases dated May 6, 2013, June 4, 2013 and July 2, 2013.
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val-d'Or, Quebec. Reported drill core weighted averages were calculated using a minimum of 0.40 g/t Au over successive intervals of 20 metres. The lengths of mineralized intervals of less than 20 metres were minimized, and an upper cut-off of 35 g/t Au was applied to individual assays where indicated. Intervals containing individual assays that are greater than six times the average of the interval are included separately. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals.
Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. Glenn J. Mullan, Chief Executive Officer of Abitibi Royalties, is the Qualified Person (as such term is defined in National Instrument 43-101 - Standards of Mineral Disclosure) who has reviewed this news release and is responsible for the technical information reported herein.
About Abitibi Royalties Inc.: Abitibi Royalties holds 100% title to the Luc Bourdon and Bourdon West Prospects in Ontario and a 30% free-carried interest on the Malartic CHL Property near Val-d'Or, Quebec which is the object of a joint venture with Osisko Mining Corp. In addition, the Company holds a 2% net smelter royalty interest in one additional claim held by Osisko, and may acquire and generate other property and royalty interests.
Golden Valley Mines Ltd. holds an approximate 66.3% interest in Abitibi Royalties Inc.
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the 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 news release.
Contacts:
Glenn J. Mullan
President
819-824-2808, x 204
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Datum: 15.07.2013 - 17:59 Uhr
Sprache: Deutsch
News-ID 278442
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VAL-D'OR, QUEBEC
Kategorie:
Mining & Metals
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