ABI - Abcourt Mines

Abcourt Mines , ABI-v

This one recently came across my radar as the stock moved up over the .20 mark while most others in the silver mining sector took a fall. I noted Pinetree has been buying ABI of late,(another 4 million shares) and would have about 8% of the company if they exercise all warrants.
Did some dd on it over the past week and i believe this one a good value play, perhaps a bit under the radar.
Last drilling results came from the Barvue play in Quebec :
Abcourt drills 118.95 g/t Ag over 10.5 m


2010-12-07 07:13 PT - News Release

Mr. Renaud Hinse reports
ABCOURT ANNOUNCES FIRST DRILLING RESULTS ON ABCOURT-BARVUE PROPERTY
Abcourt Mines Inc. has received the first assay results from its surface diamond drilling program on its Abcourt-Barvue silver-zinc property. The drilling was done on sections 5625 E to 5730 E at depths ranging from 150 to 200 metres from surface to improve the quality of the resources and to augment them. This is done to justify an increase in the size of the proposed mill from 650,000 tonnes to one million tonnes annually and at the same time, to reduce the unit mining costs by treating a larger volume of ore annually. As indicated by the following results, this program is very successful, giving on the average of 7.7 ounces of silver and 2.09 per cent zinc per tonne and it is continuing. This drilling program is part of Abcourt's 2010 drilling program and is paid with finances raised in December, 2009.
The 100% owned Abcourt-Barvue property is conveniently located at Barraute, 60 kilometers (35 miles) north of the mining community of Val-d'Or, Quebec. It covers 3,452 hectares with 85 claims and two (2) mining concessions.
In 1950, zinc was discovered on surface on the Barvue claims. An intensive drill program soon confirmed an important zinc-silver ore body. From 1952 to 1957, an open pit mine was operated by Barvue Mines Limited and produced 3,200 metric tonnes per day. The open pit reached a depth of 76 m (250 feet) and preparation work for underground mining was well advanced by the excavation of a ramp and sub-levels at 15-meter (50-foot) intervals between the 76-meter (250-foot) and the 152-meter (500-foot) depth.

Barvue Mines, which later became Manitou-Barvue Mines Limited, spent about $11 million to open the mine and produced 5,500,000 short tons of ore grading 1.13 ounces of silver per short ton and 2.98% zinc (equivalent to 6,200,000 ounces of silver and 164,000 tons of zinc). Following a drop in the price of zinc, the mine was closed.
The Barvue property was purchased by Abcourt in 1983. A $0.25 per short ton royalty is payable to a former owner.
The original Abcourt property is adjacent to the Barvue property and is on strike with the ore zone.
The joint Abcourt-Barvue property, was placed into production by Abcourt in 1985 after an expenditure of $20 M. At that time, the ore was extracted underground and hauled by trucks to Matagami, a distance of 250 km (150 miles) to be custom milled by Noranda Mines Ltd. In 1990, with falling prices for silver and an anticipated drop in the price of zinc, production was stopped. Abcourt produced 697,016 short tons of ore grading 3.84 ounces of silver per short ton and 5.04% zinc representing 2.67 M ounces of silver and 34,850 tons of zinc.

ABI currently has just over 99 million shares OS , giving them a market cap of 19 million $.
The resources at Abcourt-Barvue were revised in 2006 by an independant qualified engineer in accordance with National Instrument 43-101. Open pit measured and indicated resources are 5,126,129 metric tons with a grade of 46.65 g/t silver and 3.30% zinc for a total of 7.7 M ounces of silver and 169,352 tonnes of zinc. The underground measured and indicated resources total 1,389,734 tonnes with a grade of 101.36 g/t silver and 3.40% zinc. In addition, there are 1,505,687 tonnes of inferred resources with a grade of 120.33 g/t silver and 2.98% zinc.

Several composite samples assayed for gold gave an average grade of 0.138 g/t.

In the pits, in addition to the resources indicated above, there are 1,341,000 tonnes of mineralized material with a grade of 17.86 g/t silver and 1.58% zinc.
The latest proven and probable mineral reserves was 6,823,532 tonnes at 57.1 gpt silver and 3.1 % zinc.There is also some minor gold byproduct .
When i look at valuations per oz of equiv silver in explorers with near term production potential , ABI gets into the top 5 in values.
Just in proven reserves alone ABI has over 350million $ of silver, 465 million$ worth of zinc and about 1 million $ worth of gold.
ABI, at 19 million $ market cap is getting approx .62 per oz of silver equiv just in reserves alone. If you include meas and indicated and inferred, it would be under .50.
ABI also has other plays with proven ore , Elder mine, could be put into production quickly, has a lot of infrastructure in and a 43-101 resource of about 215,000 ozs GOLD at over 6gpt average.
Overall a very good value , going to look deeper into the stock this weekend.

Abcourt Continues to Expand Mineralized System at Elder Drilling Intersects 6.07 g/t Gold Over 10.9 Meters

MONT-ST-HILAIRE, QUEBEC, CANADA, Jan. 17, 2011 (Marketwire) --

Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI) (the "Company"), is pleased to report that additional drilling results from 11 holes in the western portion of the Elder Gold Mine Property, located 10 km northwest of Rouyn-Noranda, continue to expand this growing mineralized system which also remains open to the east, the north and at depth.

Three new gold-bearing alteration zones have been identified on the western side that branch off from the Main Vein. Widths improve when these branch veins meet the Main Vein as demonstrated by hole E10-41. It was drilled in an open area and intersected 10.9 metres grading 6.07 g/t gold.

A successful and extensive Phase 1 drill program at Elder and the adjoining Tagami Property has been completed (results on 8 more holes at Elder are still pending) and a 10,000-metre Phase 2 program has now commenced. This will include 4,000 metres at Elder and 6,000 metres at Tagami. On Elder, holes are drilled vertically with a spacing of 30 m X 30 m whereas on Tagami, holes are also drilled vertically but with a spacing of 45 m X 30 m.

The Phase 1 drilling on the west side of Elder covered a surface area of 500 metres north-south and 135 metres east-west. On the east side, drilling was over an area 180 metres north-south and 110 metres east-west. At Tagami, a 400-metre continuous zone of mineralization has been outlined in a northeast direction at shallow depth over the northern half of the West Gold Zone.

"It's our goal to build significantly on the 2009 NI-43-101 resource estimate for the Elder Property and we're very confident that we're going to succeed", stated Renaud Hinse, Abcourt President and CEO. "We're gaining a much better understanding of the entire structural model for Elder and this is aiding us immensely as our aggressive drill campaign continues. We're also very excited with the potential of the Tagami Property immediately to the north where much more drilling will be taking place. We're strongly focused on re-opening the Elder mine as quickly and efficiently as possible."

Meanwhile, a major drill program continues at the Abcourt-Barvue Silver-Zinc Property near Val d'Or (more results pending). Drilling there is designed to upgrade and augment existing NI-43-101 all-category reserves and resources and justify an expansion of the proposed mill from 650,000 tonnes to one million tonnes per year.

DRILL HIGHLIGHTS FROM THE LATEST 11 HOLES AT WEST END OF ELDER MINE



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Hole no. From M To M Length Meters Gold Grams/tonne
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E10-19 115.20 117.20 2.0 11.99
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E10-29 151.00 153.70 2.7 2.10
161.10 162.70 1.6 2.83
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E10-30 138.90 140.40 1.5 4.58
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E10-31 41.20 42.00 0.8 6.65
123.50 124.30 0.8 2.66
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E10-32 25.50 26.30 0.8 6.03
135.20 136.20 2.7 2.41
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E10-33 68.70 70.50 1.8 4.07
115.80 117.30 1.5 5.16
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E10-35 52.10 53.10 1.0 3.59
99.10 99.40 0.3 55.40
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E10-38 99.50 102.30 2.8 6.03
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E10-39 82.80 88.90 6.1 2.73
inc 82.80 85.00 2.2 4.62
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E10-40 47.00 48.50 1.5 4.73
91.50 93.40 1.5 5.15
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E10-41 169.50 180.40 10.9 6.07
Inc 177.20 180.40 3.2 12.65
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Bought another 60k today to add to a small position i had started. Looking quite strong with volume buying today , so could get thru resistence here around .22 and head much higher.

abi

glad to see your on board mouserman very undervalued imo

bought today. nice accumulation going on for the past 2 months.

Drilling at Abcourt-Barvue Intersects Two Bands of High Silver and Zinc Values
MONT-ST-HILAIRE, QUEBEC, Jan. 27, 2011 (Marketwire) --

Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI) (the "Company"), is pleased to announce the results of six holes drilled on sections 5310 E, 5250 E and 5290 E at depths ranging from 150 to 200 m from surface on the Abcourt-Barvue Silver-Zinc property located 60 km north of Val-d'Or, Quebec. The current drill program is designed to augment and upgrade existing 43-101 all-category resources and reserves and to justify an increase in the size of the proposed mill from 650,000 tonnes to 1,000,000 tonnes per year.

Three of these holes have intersected two zones of high silver and zinc values. The best part of Zone 1 averaged 173.41 grams per tonne of silver (5.58 oz/t Ag) and 2.56% zinc. Zone 2 averaged 179.93 grams per tonne of silver (5.78 oz/t Ag) and 5.26% zinc.

"We're excited with these results and those reported previously on December 7, 2010," stated Mr. Hinse. "Together they are adding to our reserves and resources. Diamond drilling is continuing."

Assay results for six additional holes drilled on the Abcourt-Barvue silver-zinc property




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ZONE HOLE FROM TO LENGTH Ag Zn
No. Meters Meters Meters g/tonne g/tonne
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1 AB10-7 220.0 227.5 7.50 45.43 2.40
Inc 222.0 226.50 4.50 61.33 2.56
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1 AB10-8 161.3 165.9 4.60 56.56 2.43
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1 AB10-9 198.8 204.1 5.30 169.49 1.87
Inc 202.4 204.1 1.70 388.15 1.06
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2 207.5 209.3 1.80 166.65 8.74
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1 AB10-10 152.4 154.4 2.00 89.65 2.58
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2 162.60 167.50 4.90 278.94 6.15
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1 AB10-11 232.0 240.4 8.40 164.49 2.31
Inc 237.1 240.4 3.30 354.76 3.37
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2 246.70 249.0 2.30 68.76 2.66
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1 AB10-12 198.50 207.30 8.80 155.50 2.29
Inc 201.50 207.30 5.80 215.81 2.64
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2 216.40 218.50 2.10 82.06 3.02
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Zone 1 (best part) average 3.65 173.41 2.56
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Zone 2 average 2.78 179.93 5.26
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173.41 g/t silver = 5.58 oz/t Ag
179.93 g/t silver = 5.78 oz/t Ag



True width is about 80% of core length.

All assays were done by Techni-Lab S.G.B. Abitibi Inc., an approved laboratory.

Holes AB10-07 to AB10-12 represent only about 14% of the 10,000 metre drill program.

In the past, from 1952 to 1957 and from 1985 to 1990, the Abcourt-Barvue mine produced 6.2 M tonnes of ore with a grade of 1.43 ounces of silver per tonne (8.87 M ounces) and 3.21% zinc (178.965 tonnes or 394 M pounds of zinc).

In 2006, an in-situ mineral resource for Abcourt-Barvue was calculated according to guidelines set forth in NI-43-101. With the 2007 feasibility study, most of these resources were converted into ore reserves after taking into account mine dilution and mining recovery. See table below:

Mineral Reserves Statement by Genivar Limited Partnership (including dilution) (NI-43-101)

*****See above for the rest of the PR......



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Mining Classifi- Ounces Tonnes
method cation Tonnes Grade of silver of zinc
Ag g/t Zn %
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Proven
Open pit Mineral Res. 5,338,731 44.79 3.15 7,688,000 168,170
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Proven
Underground Mineral Res. 1,169,662 105.19 2.87 3,956,000 33,569
Probable Min.
Res. 315,139 101.61 3.23 1,030,000 10,179
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Total
underground 1,484,901 104.43 2.95 4,986,000 43,748

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Poven Mineral 6,508,393 55.64 3.10 11,644,000 201,760
Open pit and Res.
Probable
underground Mineral Res. 315,139 101.61 3.23 1,030,000 10,179
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Total 6,823,532 57.76 3.11 12,674,000 211,939

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Proven
Open pit marginal ore 1,152,502 17.65 1.58 654,000 18,210
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Remaining 43-101 resources




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Ounces of Tonnes of
Description Tonnes Grade silver zinc
Ag/t Zn %
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Measured and
indicated 562,748 71.26 3.76 1,289,000 21,159

Inferred 1,505,687 120.53 2.98 5,835,000 44,869
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