Abcourt Mines Reports Fourth Quarter and Fiscal Year 2024 Results

Abcourt Mines Inc. (TSX Venture: ABI) has announced its financial results for the fourth quarter and the fiscal year ended June 30, 2024. The company is focused on its Canadian mining projects, particularly gold.

Highlights for the 2024 fiscal year included the release of a technical report and preliminary economic assessment for the Sleeping Giant project in July 2023. In the same month, geologist Robert Gagnon was appointed Vice-President Exploration. In November 2023, Abcourt conducted a drilling campaign at the Flordin property, confirming the presence of new near-surface, high-grade gold zones. Exploration expenses totaled $4.68 million, with a significant portion allocated to underground drilling at Sleeping Giant and the processing of a 5,000-tonne bulk sample from the Courville project (Pershing Manitou).

Processing of the bulk sample from the Pershing-Manitou project was completed in April 2024. Abcourt also completed 3,143 meters of definition and exploration drilling at the Sleeping Giant mine on its upper four levels, supporting engineering planning for a pre-feasibility study. The mine yielded 327 ounces of gold from 1,428 tonnes of ore, while the Pershing-Manitou project recovered 269.6 ounces of gold from 5,361 tonnes.

Gold sales amounted to approximately 345 ounces at an average realized price of $2,674 CAD per ounce. The company also entered into an option agreement in June 2024 with Québec Lafleur Minerals Inc. (LaFleur) concerning 141 mining claims, with LaFleur fulfilling a portion of the option payment by the fiscal year-end.

The company's financial statements and management report are available on SEDAR+. The report details Abcourt's strategic initiatives, drilling outcomes, and future project plans.