-- Abcourt Mines (ABI.V) Wednesday provided an update on activities at the Sleeping Giant mine for the quarter ended March 31.
The company completed 7,153 meters of diamond drilling during the quarter and produced 1,197 ounces of gold. It completed 4,572 meters of drilling in the preceding quarter, producing 1,138 ounces of gold.
Abcourt said the first long-hole drill will be commissioned underground in April and anticipates the start of the first long-hole stopes in early summer.
A gravimetric geophysical survey will also be conducted across the entire Sleeping Giant property, to identify possible significant mineralized zones at depth. Recent observations of drill cores showed the presence of minerals that are often associated with gold, suggesting significant mineral potential linked to a deep volcanic source, a statement said.
The results will allow for better targeting of future drilling and assessment of the deposit's potential at depth, with the aim of optimizing the next stages of exploration, the company added.
Abcourt shares closed unchanged at $0.10, on the TSX Venture Exchange.