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Press Release - Abitex Resources Inc. (ABE-TSXV) |
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I worked five years in the Otish Mountains back in the early1980’s, so I’ve seen the entire Otish Mountains and all of the uranium showings, but this is by far the most significant outcrop in the Otish Mountains. There is no doubt about it. The quality is there of mineralization and everything else, so we are quite excited about it. The market response to that is that we have had a lot of offers to the company financially as we go along with these projects... - Yves Rougerie(ABE) (Interview published December 11, 2009) |
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Abitex Reports Final Assay Results Including 0.63% Nickel and 0.22% Copper Over 21.4 Metres at the St. Stephen Project VAL-D'OR, QC, Sept. 15 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE) (the "Company") is pleased to announce that Continental Nickel Limited (TSX-V: CNI) ("Continental") has received the final assay results from the 2010 drilling program at the St. Stephen Nickel-Copper project in New Brunswick. Highlights include: 21.4 metres grading 0.63% nickel and 0.22% copper at the newly discovered Triple J Zone. The property is wholly owned by Abitex. Under the terms of an option agreement with the Company, Continental can acquire up to a 75% interest in the project and is the operator during the option period. As previously announced (Press Release, August 18, 2010), the Company reported the discovery by Continental of new nickel-copper sulphide zones at the Triple J and G targets, which were intersected in the first three diamond drill holes of a ten hole, 1,356.3 metre, diamond drilling program. The highlights from the first three drill holes included 2.00% nickel and 0.56% copper over 3.3 metres, within a wider interval grading 1.0% nickel and 0.29% copper over 9.30 metres from diamond drill hole SSD10-003 drilled at Target G; and 0.68% nickel and 0.24% copper over 8.9 metres and 0.87% nickel and 0.67% copper over 3.65 metres, from diamond drill hole SSD10-001 drilled at the Triple J Target. The final assay results for the remaining seven drill holes, totalling 956.3 metres, are reported below (see Table I). Triple J Anomaly ---------------- Five diamond drill holes totalling 722.0 metres were completed to drill test a 100 metre strike length of the Triple J target to a vertical depth of 125 metres. The assay results from the first two holes were previously reported (August 18, 2010) and the remaining three drill holes, totalling 414.0 metres, are reported herein. Drill hole SSD10-004 intersected a 21.4 metre zone of disseminated to net-textured sulphide mineralization grading 0.63% nickel and 0.22% copper, including a higher grade interval of 0.78% nickel and 0.25% copper over 8.4 metres. Drill hole SSD10-005 intersected a narrow zone of semi-massive to massive sulphide mineralization grading 1.02% nickel and 0.19% copper over 0.65 metres. Drill hole SSD10-010 intersected a fault zone at the expected depth of the mineralized zone. The drilling conducted to date on the newly discovered Triple J zone has intersected up to 21.4 metres of nickel and copper bearing sulphide mineralization to a depth of 125 metres. The zone is open along strike to the southwest and the results from the 2009 ground electromagnetic ("EM") survey indicate that the zone remains open for at least 300 metres in that direction from the current area of drilling. E Zone ------ Two diamond drill holes, totalling 226.8 metres, were completed to test an EM anomaly below the level of previous drilling at the historic E Zone. Drill hole SSD10-006 intersected several zones of disseminated sulphides with minor nickel and copper. A follow-up bore hole electromagnetic survey ("BHEM") has indicated that the targeted conductor was intersected, but increases in strength down-dip below the drill hole. A second hole, SSD10-007, also designed to test the E zone at depth, was abandoned because of poor drilling conditions. Roger's Farm Zone ----------------- One drill hole was drilled to a depth of 175.5 metres to test for an extension of the Roger's Farm Zone to the north along strike of previous drilling. Drill hole SSD10-008 intersected several zones of disseminated to net textured mineralization over widths ranging from 0.5 metres to 3.05 metres. Assay results indicate that these zones contain minor nickel and copper. A BHEM survey has indicated that SSD10-008 drilled under the edge of a strong, near surface conductor, thought to be an extension of the Roger's Farm Zone. The survey results indicate the zone has a limited dip extent at this location. Billy's Brook ------------- One drill hole was drilled to a depth of 140.0 metres to test a new, high conductance, EM anomaly, detected in the 2009 ground EM survey and located approximately 700 metres west of the Roger's Farm Zone. Drill hole SSD10-009 intersected a 21.9 metre interval of disseminated to net textured sulphide mineralization, including six, 10 to 30 centimetre wide, veins of massive sulphide. The best interval from the mineralized zone graded 0.51% nickel and 0.41% copper over 3.3 metres. A follow up BHEM survey completed on drill SSD10-009 confirmed that the drill hole successfully intersected the original ground EM anomaly and no off-hole anomalies were detected. Yves Rougerie, President & CEO of Abitex Resources Inc., reports "We are encouraged with the results of this initial drill program by Continental on the St. Stephen project. The discovery of three new nickel-copper sulphide occurrences with significant grades clearly warrants further work. Further exploration drilling will be required to better evaluate and delineate these new zones as well as test numerous other quality targets." Qualified Persons ----------------- The information in this release was prepared under the direction of Craig MacDougall, P. Geo., President and CEO for Continental Nickel Limited. Mr. MacDougall is a qualified person as defined by National Instrument 43-101. Yves Rougerie, P. Geo., President and CEO of Abitex Resources is the QP for Abitex Resources. He has reviewed and approved this release. Quality Control --------------- The drilling was completed by Maritime Diamond Drilling Ltd of Nova Scotia recovering NQ sized core. Drill core samples are cut in half by a diamond saw and half of the core is retained for reference purposes. Samples are generally 1.0 metre intervals or less at the discretion of the site geologist. Core samples are placed in individual samples bags with unique sample ID tags and shipped in sealed batches to the SGS Minerals Services Laboratory in Toronto, Ontario for sample preparation and analyses. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-OES finish (Analytical Code ICP90Q). Analyses for Pt, Pd, and Au are by fire assay with an ICP-OES finish (Analytical Code FAI313). The Company's public documents may be accessed at www.sedar.com For further information on the Company, visit our website at www.abitex.ca ------------------------------------------------------------------------- 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 release. Table I: Summary of Recent Assay Results, St. Stephen Project, New Brunswick. ------------------------------------------------------------------------- Drill- Location Inter- hole (UTM - Az / Length From To val % % % (SSD10-) WGS84) Dip (m) (m) (m) (m) Ni Cu Co ------------------------------------------------------------------------- Triple J ------------------------------------------------------------------------- 004 632190mE, 270/-70 143.0 23.55 23.95 0.40 1.67 0.11 0.66 5007761mN 88.0 109.4 21.4 0.63 0.22 0.08 Incl: 101.0 109.4 8.4 0.78 0.25 0.10 ------------------------------------------------------------------------- 005 632189mE, 270/-50 134.0 18.8 19.6 0.8 0.48 0.15 0.07 5007761mN 98.20 98.85 0.65 1.02 0.19 0.08 ------------------------------------------------------------------------- 010 632200mE, 270/-65 137.0 NSA NSA NSA 5007805mN ------------------------------------------------------------------------- E Zone ------------------------------------------------------------------------- 006 633315mE, 090/-57 170.0 NSA NSA NSA 5008903mN ------------------------------------------------------------------------- 007 633315mE, 090/-73 56.8(*) NSA NSA NSA 5008881mN ------------------------------------------------------------------------- Roger's Farm Zone ------------------------------------------------------------------------- 008 633132mE, 270/-50 175.5 NSA NSA NSA 5009052mN ------------------------------------------------------------------------- Billy's Brook ------------------------------------------------------------------------- 009 632373mE, 180/-62 140.0 83.0 86.3 3.3 0.51 0.41 0.07 5008936mN 95.6 96.6 1.0 0.59 0.10 0.08 98.15 98.65 0.50 0.55 0.08 0.07 ------------------------------------------------------------------------- Note: Intervals represent core lengths, not necessarily true widths. Pt, Pd and Au assay results are not reported because in general, they are less than 1.0 g/t on a combined basis. NSA - No Significant Assays (*) - Hole Abandoned %SEDAR: 00003760EF For further information: Yves J. Rougerie, President and CEO, Tel: (819) 874-6200
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