Abcourt Receives Environmental Certificate for Custom Milling at Sleeping Giant Mill

Abcourt Mines Inc. has received its environmental certificate of authorization to process ore from external deposits at its Sleeping Giant mill in Quebec, Canada. This permit enables Abcourt to commence commercial discussions with potential clients and expedite environmental authorization processes for processing gold ore from mining companies lacking their own milling facilities.

Building a new ore processing complex to extract gold and store tailings typically requires several years and substantial capital investment, potentially costing hundreds of millions of dollars. For many gold development companies, custom milling arrangements offer a faster and more cost-effective pathway to monetize their resources.

According to Abcourt's Preliminary Economic Assessment (PEA) for the Sleeping Giant Mine, released on June 7, 2023, the mill is projected to operate at less than 40% of its capacity processing ore from the company's own mine. The permitted daily throughput is 950 tonnes, while the average planned throughput in the PEA is 340 tonnes per day. Abcourt's long-term objective is to define additional mineral resources at the Sleeping Giant Mine to maximize the mill's utilization with internal ore.

In the short term, Abcourt can process ore from other sites, generating additional revenue streams alongside its planned production from Sleeping Giant. President and CEO Pascal Hamelin stated that the Abitibi and Eeyou Istchee regions contain numerous gold deposits too small to justify the initial investment in a dedicated processing complex. Abcourt's custom milling service provides an attractive alternative for accelerating the development of these deposits, while simultaneously maximizing mill usage and enhancing company revenue and asset value.