Abcourt Mines Outlines 2023 Objectives, Reports Corporate Update
Abcourt Mines Inc. has laid out its 2023 objectives, including a preliminary economic assessment (PEA) for a rapid restart of the Sleeping Giant mine. The company expects to publish the PEA by the end of June 2023.
Rouyn-Noranda, Canada – Abcourt Mines Inc. on February 23, 2023, presented its objectives for the upcoming year and provided a corporate update. The company is focusing on updating resources at the Sleeping Giant mine and a swift restart.
Abcourt is developing a preliminary economic assessment (PEA) for a rapid restart of the Sleeping Giant mine, with the study anticipated by the end of June 2023. Plans involve utilizing existing mine infrastructure and upgrading surface facilities and worker accommodations. The mine and processing plant hold the necessary environmental permits for commencement upon completion of pre-feasibility studies.
The company also plans a 15,000-meter drilling campaign at the Sleeping Giant mine during 2023. The goal is to increase mineral resources and convert existing resources into more defined categories. Additionally, Abcourt is updating mineral resource estimates for the Flordin and Discovery deposits in spring 2023, followed by a planned surface drilling campaign.
Abcourt continues to clean up its ore processing plant and will proceed with gold sales into the next quarter. Concurrently, the company is seeking buyers to monetize its base metal assets, such as copper and zinc, in the short to medium term.
Due to current market conditions, Abcourt and Pershimex Resources Corporation have agreed to extend the closing date of their merger by 60 days, to April 29, 2023.