November 10, 2020 – TheNewswire – London, Ontario – Abitibi Metals Corp. (CSE:GSK) (CNSX:GSK.CN) (“Goldseek” or the “Company”) is pleased to announce that it has acquired the Val D’Or North Property (the “Property”) through direct staking.
Goldseek’s President & CEO Jon Deluce states, “We are excited to acquire the Val D’Or North Property at no dilution to shareholders. Quebec is a top mining jurisdiction world-wide, and we believe with our portfolio of 4 prospective projects in very active mining camps, we are set for discovery in this gold bull market that we feel is in its early innings. The presence of till on surface at the Val D’Or project will allow us first to conduct a cost-effective till survey to screen the entirety of the Property to look for geochemical anomalies.
Over the next 3 months, we will be working on this project along with Bonanza (Urban Barry) and Southern-Arm (Fenelon), so we look forward to keeping our shareholders advised of our continuous work programs.”
The Val D’Or North Property is located 38km north-east of Val D’Or and 4km south of Senneterre. It is accessible by a well-maintained dirt road as well as logging roads. The 143 claims cover approximately 8,175 hectares (81,75km2). The Property shares the majority of its southern border with Probe Metals.
- – The MERN released multiple exploration targets on and around the Property1. One of them is target SMV-2005_1815 and is categorized as a “High-favorability zone for VMS mineralization types in the Abitibi area.”
- – Mineralized showings are located in the surrounding of the Property and are at various stages of exploration. They are often located at the contact between the basalts and the andesites of the Assup Group. The Company covers over 3km of this contact. The Aurora Group mafic and intermediary volcanic rocks also host gold and metallic showings, and the group extends through-out the Property.
A recent review of the soil geochemistry data uncovered the presence of multiples polymetallic (Ag, Cu, Zn) trends in the Property’s northern area. Subsequently, the Company acquired 10 claims to cover the expected anomaly source. Neighbor to the expected source is a showing that graded up to 3.32% Mo ; 2.06% Zn ; 0.2% Cu ; 1.03 g/t Au and 5.14 g/t Ag in a grab sample. The polymetallic nature of the mineralization indicates the potential for a porphyry type deposit, and the Company believes that a similar deposit type could be at the source of the soil anomalies.
The Company is currently reviewing additional data on the Property and will complete a till survey program before the winter season. The survey’s details will be announced in a subsequent press release when additional planning details are known.
This press release was prepared by Pierre-Alexandre Pelletier, P.Geo.OGQ, and Steven Lauzier, P.Geo,OGQ both of whom are qualified persons as defined under National Instrument 43-101, and have reviewed and approved the geological information provided in this news release.
About Abitibi Metals Corp.
Abitibi Metals Corp. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying five projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, Val D’Or and Detour Gold Trend in Quebec and Hemlo in Ontario.
ON BEHALF OF THE BOARD
Chief Executive Officer
For more information, please contact:
Abitibi Metals Corp.
The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
1 Lamothe, D., 2012: Volcanic Massive Sulphide Potential in the Abitibi-2011 Version. MRNF, EP 2011-2.