Inferred resources increased by 63% to 7.2 Mt from 4.4 Mt. Inferred resources now grade 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag or 2.21% CuEq. Inferred resources contain 246.0 Mlbs Cu, 27.3 Mlbs Zn, 200.8 koz Au and 1.7 Moz Ag or 348.8 Mlbs of CuEq.
Abitibi highlighted an 38% increase in contained Cu, 15% increase in contained Zn, 29% increase in contained Au and 22% increase in contained Ag relative to the 2018 resource estimate.
Abitibi, which holds 9.9% of B26, is working to earn 80% of the project over seven years from Soquem, a subsidiary of Investment Quebec. The company has raised C$18.5 million from investors such as Frank Giustra, who helped start Wheaton Precious Metals (TSX: WPM, NYSE: WPM; LSE: WPM) and Endeavour Mining (TSX: EDV; LSE: EDV).
The company in April identified a new copper target west of B26 that shows potential for expanding the project.
The B26 polymetallic deposit…
