Abcourt Updates on Sleeping Giant Activities and Options Grant
Abcourt Provides an Update on Activities at Sleeping Giant
Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) presents an update on its activities at the Sleeping Giant mine.
Highlights of Recent Activities
Recent activities have shown significant progress at the Sleeping Giant mine with the following highlights:
- Lost time accident frequency: 0.0
- 8,707 hours worked for employees and contractors
- Addition of computer stations dedicated to training
- Obtaining construction permits for the workers’ camp
- Progress of work on the tailings pond in anticipation of planned upgrades
- Rehabilitation of refuge stations and surface piping up to level 665
- Exploration and definition drilling of 507 metres to support future stope designs
- Selection of a mining contractor for an underground vertical raise contract
- Delivery of 96 ounces of gold to the Royal Canadian Mint
Future Plans
Looking ahead, the following steps are planned:
- Development of raises and galleries for future stopes
- Begin extraction from stopes
- Construction and development of a camp to house 110 workers at the mine site
- Advancement of geotechnical engineering planning for future dam raises in the tailings pond
- Hiring of approximately 100 people, mainly for underground positions
Increased staffing is critical for accelerating the development and extraction of the first stopes, with the construction of the camp being a priority.
Grant of Stock Options
Stock options have been granted to the Corporation’s new director, Noureddine Mokaddem, allowing him to subscribe to 1,500,000 common shares at an exercise price of $0.05 per share. Additionally, stock options for a total of 2,000,000 common shares have been granted to selected employees under similar terms.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration corporation with strategically positioned properties in northwestern Québec. The Corporation focuses its efforts on the Sleeping Giant mill and mine.
For further information, please contact:
Pascal Hamelin
President and CEO
T: (819) 768-2857
E: phamelin@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276, post 456
E: dany.cenac-robert@reseaupromarket.com
Frequently Asked Questions
What recent activities has Abcourt reported?
Abcourt has provided updates on safety records, hours worked, training enhancements, and progress on construction projects.
What are the future plans for the Sleeping Giant mine?
Future plans include developing stopes, building a worker camp, and hiring additional staff for underground roles.
Who received the stock options at Abcourt?
Stock options were granted to the new director Noureddine Mokaddem and certain employees of the Corporation.
What are the key highlights from the recent update?
Key highlights include a perfect safety record, extensive hours worked, and steps towards operational enhancements at the mine.
Where can I find more information about Abcourt Mines Inc.?
More information can be found on the corporation's website and through their investor relations contacts.
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