Malartic CHL Joint Venture 2012 Drill Assay Results
Highlight of 60.90 metres averaging 1.31 g/t gold
Highlight of 60.90 metres averaging 1.31 g/t gold
VAL-D'OR, QUÉBEC -- June 4, 2013 - Abitibi Royalties Inc. (TSX VENTURE:RZZ) (the "Company" or "Abitibi Royalties") is pleased to report the initial drill assay results from the 2012 drill program on the Malartic CHL Prospect, located immediately east of Osisko Mining Corporation's ("Osisko") 100%-owned Canadian Malartic gold mine property. The information that follows has been provided to Abitibi Royalties by joint venture partner and program operator Osisko.
The initial set of drill assay results contained herein pertains to the Mammoth Extension Area, where a total of fourteen (14) holes (2,699 metres) were drilled. Within this specific target area, four (4) individual zones have been identified and include the "Gap Barnat-Jeffrey", "Sheehan", "Mammoth Extension" and "Mammoth Area South".
Highlights from the fourteen (14) drillholes include, 60.90 metres averaging 1.31 g/t gold from the Mammoth Extension (CHL12-2451), 25.70 metres averaging 1.14 g/t gold from the Mammoth Extension (CHL12-2455), 45.60 metres averaging 1.32 g/t gold, including 1.2 metres averaging 8.71 g/t gold from the Sheehan Zone (CHL12-2450) and 9.10 metres averaging 1.73 g/t gold, including 1.10 metres averaging 9.23 g/t gold from the Gap Barnat-Jeffrey Zone (CHL12-2426).
Drillhole Assay Table
|Mammoth Area South|
Please refer to the attached Figures 1, 2 and 3 (available at the following address: http://media3.marketwire.com/docs/Malartic_Osisko_figs_0604.pdf) for the locations of the individual holes listed in the above drillhole assay table.
The assay results for the other five (5) targets tested in the 2012 drill program will follow in separate news releases over the coming weeks. In summary, the 2012 drill program consisted of thirty-one (31) new drillholes in addition to two (2) drillhole extensions, totalling 5,660.2 metres targeting six (6) separate targets (for details please refer the Company's May 6, 2013 news release).
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val-d'Or, Québec. Reported drill core weighted averages were calculated using a minimum of 0.40 g/t Au over successive intervals of 20 metres. The lengths of mineralized intervals of less than 20 metres were minimized, and an upper cut-off of 31 g/t Au was applied to individual assays where indicated. Intervals containing individual assays that are greater than six times the average of the interval are included separately. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals.
Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. Glenn J. Mullan, Chief Executive Officer of Abitibi Royalties, is the Qualified Person (as such term is defined in National Instrument 43-101 - Standards of Mineral Disclosure) who has reviewed this news release and is responsible for the technical information reported herein.
About Abitibi Royalties Inc.: Abitibi Royalties holds 100% title to the Luc Bourdon and Bourdon West Prospects in Ontario and a 30% free-carried interest on the Malartic CHL Property near Val-d'Or, Québec which is the object of a joint venture with Osisko Mining Corp. In addition, the Company holds a 2% net smelter royalty interest in one additional claim held by Osisko, and may acquire and generate other property and royalty interests.
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Abitibi Royalties Inc.
Glenn J. Mullan
819-824-2808, x 204