en.Wedoany.com Reported - Canadian mining company Abitibi Metals (CSE: AMQ) has released detailed data on the B26 polymetallic deposit project in Quebec, reporting total resources of 25.3 million tonnes with a copper equivalent grade exceeding 2.1%. Of this, indicated resources stand at 12.96 million tonnes with a copper equivalent grade of 2.08%, containing 1.19% copper, 1.16% zinc, 0.44 g/t gold, and 30.8 g/t silver; inferred resources total 12.34 million tonnes with a copper equivalent grade of 2.20%, containing 1.60% copper, 0.16% zinc, 0.68 g/t gold, and 8.1 g/t silver. Metallurgical test results from SGS show copper recovery at 98.3%, gold recovery at 90.0%, zinc recovery at 96.1%, and silver recovery at 72.1%.
The B26 deposit is located 7 kilometers southeast of the former Selbaie mine in Quebec and is a volcanic massive sulfide (VMS) asset, characterized by a well-developed copper vein system accompanied by intense dark chlorite alteration. Abitibi Metals holds an 80% interest in the deposit, while SOQUEM, a subsidiary of Investissement Québec, holds the remaining 20%.
A financing totaling C$31 million (without warrants issued) has fully funded a two-year drilling program exceeding 80,000 meters. The program is being executed in two phases, with the 2026 budget balancing expansion drilling and strategic infill targets, with infill drilling focused on inferred zones; the 2027 budget will shift significantly toward infill drilling, systematically converting inferred resources into indicated resources to build the resource confidence required for a feasibility study. The complete two-year plan and detailed budget allocation are scheduled for release in late May or early June.
In the first quarter of 2027, the project is expected to deliver two outcomes: a Preliminary Economic Assessment (PEA) and an updated resource estimate. The PEA focuses on the economics of early returns from near-surface mineralization and shallow zones of the deposit, while the resource update focuses on the potential scale of the mineralized footprint and the mine life it can support. Currently, Phase 4 drilling is underway, including a 150-meter stepback at depth, with recent drilling confirming a 50-meter eastward extension of the high-grade west-dipping down-dip zone, further supporting the deposit's expansion potential.
Discovery Silver holds a strategic 9.9% stake in the project, bringing operational expertise in Indigenous engagement, permitting process management, environmental management, and securing federal government grants. Abitibi Metals CEO Jonathon Deluce stated that this balanced relationship aims to provide critical capability support for the project while maintaining capital cost discipline.
In terms of industry valuation, Eldorado's acquisition of Foran for approximately C$3.8 billion has established a valuation benchmark for large polymetallic VMS deposits in Canada. Foran's asset is the McIlvenna Bay deposit, and B26, along with McIlvenna Bay, belongs to the same narrow category of deposits of comparable scale and grade in Canada, providing a reference value for this asset class. Management also indicated an intention to consolidate the area around B26 through additional acquisitions, expanding the asset base from a single deposit to a multi-asset mining district, but this acquisition intent is independent of the currently funded core drilling program.
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