Drilling has delineated a 450-metre-long system containing anomalous-to-high-grade epithermal mineralization. The eight holes drilled to date have extended the system along strike in both directions, confirming the continuity of narrow high-grade sections. The mineralization remains open in all directions.
Hole 3 cut 26 metres averaging 0.79 gram gold and 14.2 grams silver starting at a down-hole depth of 8 metres. This was followed by a 14-metre interval of 2.21 grams gold and 93.1 grams silver, starting at 90 metres down-hole. Included in this second intercept was a 2-metre section of 7.85 grams gold and 63.7 grams silver, followed by another 2-metre section, which averaged 6.67 grams gold and 526.2 grams silver.
Abacus says hole 3 confirms that a narrow high-grade zone extends southward by about 90 metres. The zone was intersected in previously reported holes 98-2 (13.5 metres averaging 21.66 grams gold and 45.2 grams silver) and 98-11 (14.5 metres of 5.1 grams gold and 56.66 grams silver).
Mineralization was also identified in hole 5, which was drilled 160 metres east of hole 3. Hole 5 was collared along the southeastern margin of a gold-in-soil anomaly, toward the southwest. It intersected 68 metres averaging 0.45 gram gold and 27.6 grams silver, starting at a down-hole depth of 26 metres. This included a 2-metre interval averaging 2.08 metres gold and 114.8 metres silver. Hole 5 hole cut a broad, near-surface zone of lower-grade mineralization, which is believed to be the continuation of a similar zone intersected 100 metres to the west by hole 98-12 (43.5 metres averaging 1.27 grams gold and 22.8 grams silver). The zone remains open along strike and at depth.
Hole 1 was collared 225 metres northwest of hole 3 and intersected 56 metres averaging 0.33 gram gold and 9.45 grams silver starting at a down-hole depth of 4 metres. This included a 4-metre section of 1.38 grams gold and 7.1 grams silver.
Hole 2, collared 75 metres north of hole 1, intersected 2 metres averaging 4.83 grams gold and 33.5 grams silver starting at 128 metres down-hole.
Hole 6, collared 80 metres southwest of hole 2, intersected 32 metres averaging 0.5 gram gold and 39.9 grams silver, starting at a down-hole depth of 40 metres. Included in this interval were two 2-metre sections — one averaging 2.6 grams gold and 374.1 grams silver; the other, 0.79 gram gold and 295.2 grams silver. Hole 6 extends known mineralization about 50 metres to the north.
Hole 7, situated 60 metres northwest of hole 6, intersected a basal fault contact between the felsic and mafic rocks. The company believes the potential strike continuation of mineralization will be found northeast of hole 7.
A new target area has been identified 2 km southeast of the recently drilled holes.
Geochemical data point to a well-defined, continuous mercury soil anomaly that trends to the northwest for about 1 km and is up to 400 metres wide. Mercury values of up to 2,400 parts per billion (ppb) have been recorded, and these correlate with strong hydrothermal clay alteration seen on satellite images.
Hole 8 was initiated prior to the receipt of soil geochemistry results, and was drilled outside of the main target area. Widespread silicified float material and hydrothermal hematite breccia returned up to 0.31 gram gold and 10,000 ppb mercury. This southern grid target is believed to represent a mineralized epithermal system close to the paleo-surface.
Abacus must spend US$2.7 million on exploration and issue 600,000 of its shares to earn a 100% interest in the Manchuria property from
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