Name of the Project
Sleeping Giant gold project.

Location
Greenstone belt of Abitibi, 80 km north of the town of Amos, in Quebec, Canada.

Project Owner/s
Abcourt Mines.

Project Description
The project is an underground mine that was operated until 2014.

The project envisages a rapid startup of operations with minimal initial investment.

The project involves the extraction of 720 000 t of ore, including new stopes that can be accessed almost exclusively from existing levels.

Production will be split between levels N-145 and N-1110, and will require rehabilitation of the drifts, escapeway, shaft service compartment and existing infrastructure.

The stopes will be mined using longhole, shrinkage and room-and-pillar methods, with a tonnage distribution of 27%, 30% and 43% respectively.

Ore will be processed at Sleeping Giant’s concentrator plant, which has a capacity of between 700 t/d and 750 t/d.

Sleeping Giant has strong potential for mineral resource expansion, based on more than 800 mineralised structures remaining open at depth, down plunge and to the east. Future modelling could offer an increase in the potential of the project. Using nearly 50% of its capacity, the current ore-processing plant has excess capacity that could offer the opportunity to accept material from deposits surrounding the project.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of C$54.4-million and an internal rate of return of 33.3% with a payback of 2.1 years.

Capital Expenditure
Initial capital expenditure is estimated at C$73.83-million.

Planned Start/End Date
Abcourt Mines started processing gold at its Sleeping Giant mill on February 13, 2024.

Latest Developments
Abcourt Mines has announced results from the underground diamond drilling campaign at the Sleeping Giant mine.

The drilling programme totalled 3 650 m and was conducted from December to July to support optimisation work of the mining plan as part of a prefeasibility study.

According to the mining plan, the Zone 20 West stope is among the first stopes to be put into production at startup. Eleven holes totalling 1 118 m were drilled in the Zone 20 West sector to better define the dimension and grade of the planned stope.

Abcourt presented the results of six drill holes, totalling 641 m and drilled in Zone 20 West from level 235, at the end of August. In hole 23-489, the company encountered 125 g/t gold over 0.5 m and in hole 23-485, 46.08 g/t over 1 m were intersected.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Abcourt Mines, tel +1 819 768 2857 or email info@abcourt.com.