“These are some of the highest-grade intercepts in the project’s history and show a way to potentially increase the grade of our block model,” Abitibi CEO Jonathon Deluce said in a news release. “Investigating the significant increase in grade in #293 when compared to the historical results will be a key objective of ours.”
The results support the project’s near-surface open-pit potential, Abitibi said, adding that the project feeds into the global energy transition’s need to expand copper production by nearly three times current levels by 2040, according to the International Energy Agency.
Shares in Abitibi Metals, which was known until last year as Goldseek (CSE: GSK), gained 3% on Thursday morning in Toronto to C$0.69 apiece, valuing the company at C$68.5 million. They’ve risen from C$0.14 in November.
Giustra-backed
Abitibi is advancing a plan to earn 80% of the project over seven years from Soquem, a subsidiary…
