Abcourt Mines (V.ABI) signs custom milling agreement with Aurbec Mines

Stockhouse Editorial
0 Comments| August 16, 2013


Abcourt Mines Inc. (TSX: V.ABI, Stock Forum) announced that it has signed an agreement with Aurbec Mines Inc., a wholly-owned subsidiary of Maudore Minerals Ltd. (TSX: V.MAO, Stock Forum), to treat the Elder mineralized material at the Sleeping Giant mill owned by Aurbec.

The Elder mine is located in Rouyn-Noranda, Quebec, and the mineralized material will be transported by trucks to the mill located about 80 kilometres north of Amos, Quebec.

According to the Abcourt Mines press release, the agreement is good for a period of six months and it may be extended if both parties agree.

Aurbec has requested all relevant environmental permits and authorizations to store and process the Elder mineralized material at its mill.

A certificate of authorization is expected on or about Sept. 15, 2013. The shipment of mineralized material will start as soon as this permit is obtained. The company expects to ship about 39,000 tonnes of mineralized material before the end of 2013.

Abcourt is an exploration and development company with strategically located properties in northwestern Quebec, Canada.

On Friday, Abcourt rose 12.5% and was trading at $0.09 a share. The company had a market cap of $15 million, based on 167 million shares outstanding.

Tags: GOLD

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