Abitibi Metals Corp. (CSE:AMQ; OTCQB: AMQFF; FSE: FW0) has reported progress from its ongoing Phase 3 drilling program at the B26 Polymetallic Deposit in Québec, with early indications confirming mineralization beyond the boundaries of the existing Mineral Resource Estimate (MRE). According to the company, the findings validate the expansion potential of the deposit in multiple directions, strengthening the project’s longer-term development prospects.

Jonathon Deluce, CEO of Abitibi Metals, commented in a press release: “What’s particularly exciting is the volume of high-grade mineralization sitting outside the current resource model. The holes being drilled in this phase 3 program have the potential to rapidly convert the open zones into a new phase of resource growth – and that’s where a company value re-rating begins. It’s also important to highlight that results from our Phase 2 drill program were not included in the recent resource update, underscoring the additional future upside for Abitibi Metals.”

The B26 Deposit, located in a mineral-rich region of Québec, is currently 50% owned by Abitibi, with an option to increase that stake to 80% through an earn-in agreement with SOQUEM Inc., a subsidiary of Investissement Québec. The project is being developed as part of Abitibi’s broader strategy to advance high-potential copper and precious metal properties in Canada.

Highlights from the results are as follows:

• Hole 1274-17-269-W1b intersected 20 metres of strong VMS style mineralization 80 metres beyond current resource boundary. Visual observations (refer to Figure 1) confirm the presence of copper stringers and mineralization in key growth corridors; assays pending.
• A total of six holes completed, and 4,829 metres drilled to date in Phase 3, with two rigs active and 15,171 metres remaining.
• 1274-17-269-W1b: Intersected a mineralized zone approximately 80 metres beyond the existing MRE, representing a meaningful step-out and validating continued growth potential. This hole encountered a heavily mineralized interval of 6.6 metres from 993.0 within a broader 17.4-metre mineralized package between 982.2 and 999.6 metres downhole; assays are pending.
• 1274-17-269-W2b: Currently in progress, targeting an additional 80-metre step-out from hole 1274-24-338W1 in the eastern extension, aimed at following up on previously intersected mineralization
• 1274-25-368: Currently in progress, targeting an additional 160-metre step-out from hole 1274-16-234 in the eastern extension, aimed at following up on previously intersected mineralization.

Ongoing Drilling at B26: Status and Strategy

To date, six holes have been completed under the current Phase 3 drilling campaign, with a total of 4,829 metres drilled. This figure includes metres drilled prior to spring breakup. Two drill rigs remain active on site, focusing on priority areas located at the western, southeastern, and down-plunge extensions of the mineralized system.

Phase 3 plans call for up to 17,500 metres of drilling in total, aimed at extending the mineralized footprint and confirming continuity in areas adjacent to and beyond the current resource model.

Target Zones and Expansion Areas

The Phase 3 program has been strategically designed to test several extensions of the B26 system based on three-dimensional modelling of the 2024 resource, historic drilling data, and recent geophysical interpretations. 

With over 1.8 kilometres of strike length and strong vertical continuity, the deposit has been identified as a significant copper-polymetallic system. The newly reported step-out intersections suggest that the deposit remains open in multiple directions, which could lead to an expansion of the current resource in future updates.

Upcoming Results and Future Phases

Initial assay results from Phase 3 drilling are expected within the next month. Additional results are scheduled to be reported throughout the remainder of 2025.

Abitibi Metals has indicated it is fully funded through the first quarter of 2027. Phase 4, scheduled for 2026, includes a planned 25,000 metres of additional drilling. This next phase will be informed by the success and results of the current program, with a focus on resource expansion and model refinement.

Project Oversight and Compliance

All technical content related to the drill program has been reviewed and approved by Louis Gariépy, P.Eng. (OIQ #107538), Vice President of Exploration at Abitibi Metals. Gariépy is designated as a Qualified Person under National Instrument 43-101, which governs standards of disclosure for mineral projects in Canada.

Ownership and Partnerships

Under the current agreement, Abitibi Metals holds a 50% interest in the B26 Deposit. The company retains the right to earn an additional 30% by fulfilling the terms of its option agreement with SOQUEM Inc. SOQUEM is a Québec-based mining development entity wholly owned by Investissement Québec, tasked with advancing mineral discovery and exploration across the province.

In addition to B26, Abitibi Metals’ project portfolio includes the Beschefer Gold Project, where historical drilling has returned multiple high-grade gold intercepts. These include 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014), among others, distributed across four modelled zones.

As Phase 3 drilling at B26 continues, Abitibi Metals’ ongoing efforts are aimed at defining new mineralized zones, expanding the resource envelope, and improving grade and continuity understanding. While results from this round of drilling are pending, the step-out intersections reported thus far suggest that the B26 deposit may have significantly more upside potential than previously modeled.

The next set of assays, along with structural and geophysical interpretations, will help shape the next phase of drilling and could play a critical role in determining the long-term development trajectory of one of Québec’s most closely watched polymetallic deposits.