RESUMPTION OF OPERATIONS AT ELDER MINE
Rouyn-Noranda, Québec, Canada, Feburary 2, 2021
Abcourt Mines Inc. (TSX-V: ABI) (“Abcourt” or the “Corporation”), is pleased to announce
the resumption of operations at Elder mine. The motor for the hoist at the Elder mine was
repaired with success. A production crew started with the night shift friday night, on January
29, 2021. We are ready to increase production quickly to reach the excellent level that we
had before the shut down.
Being a employer of choice in the area, we are sure that most of our employees will be back
to work within the next few days, Our excellent safety record with more than 450 days without
compensable accidents will help us with the hiring of new employees as needed. Beside, we
are happy to have a clean mine. This is a great advantage to recruit new miners when needed
to develop our projects. The assays of the mine water rejected in the environment over the
past eight years have complied with regulations 99% of the time. As chief operating officer
of the Corporation, I am very proud of this excellent environmental and safety record.
Our good financial situation and our records of production and sales of gold over the latest
quarters enabled us to go through this difficult period of work stoppage.
During the temporary closure period at the Elder mine, most of the rehabilitation crew at the
Sleeping Giant mine was kept to advance this project. Our objective of having two mines in
production at the end of calender 2021 remains realistic and realizable.
This press release was prepared by Mr. Renaud Hinse, Engineer and President of Abcourt
Mines Inc. Mr. Hinse is a “Qualified Person” under the terms of Regulation 43-101. Mr. Hinse
has approved the scientific and technical disclosure. See below
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration company with strategically located
properties in northwestern Quebec, Canada. The Elder property has gold resources. Abcourt is
currently focusing on the exploitation of the Elder mine and on the rehabilitation of the Sleeping Giant
mine. For the long term in gold, the Corporation has prepared a $ 2M exploration programme, mainly
for the Sleeping Giant mine where important targets of gold mineralization have not been explored
In 2016, Abcourt acquired the Sleeping Giant mine and mill, located half-way between Amos and
Matagami, in Abitibi, Province of Quebec. The mill has a capacity to treat 700 to 750 tonnes per day.
Measured mineral resources total 10,900 tonnes with a grade of 12.20 g/t of gold and indicated 2 resources total 475,625 tonnes with a grade of 11.20 g/t of gold. Inferred resources are 93,100 tonnes with a grade of 11.85 g/t of gold. A NI 43-101 feasibility study was completed in July 2019 by PRB
Mining Services Inc. Probable reserves according to MI 43-101 have bean estimated at 339,221
tonnes with a grade of 7.9 g/t of gold.
The Abcourt-Barvue property has silver–zinc reserves (2019). A MI feasibility study was completed in
2007 by Roche / Genivar. An update was completed in July 2019 by PRB Mining Services Inc. A total
of 8.07M tonnes are in proven and probable reserves with a grade of 51.79 g/t of silver and 2.83%
zinc. About 81.6% of these reserves are mineable by open pit and 18.4% are mineable by
underground operations. Inferred resources total 2.07M tonnes with a grade of 114.16 g/t of silver and
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at www.abcourt.com
and consult our filings under Abcourt’s profile on www.sedar.com.
For more information, please contact:
Renaud Hinse, President and CEO
T : 819 768-2857 450 446-5511
F : 819 768-5475 450 446-3550
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this