--News Direct--
Copper is poised for a significant demand surge, driven by technological advancements and a push towards sustainability.
According to Trafigura, a leading commodities trading firm, new technologies are ramping up power consumption, thereby boosting the need for copper.1 This trend is expected to be further fueled by the rapid adoption of electric vehicles, renewable energy infrastructure, and other green technologies.
First Quantum Minerals, a major copper producer, echoes Trafigura's sentiments, forecasting a rally in copper prices as the metal becomes increasingly crucial for the green industry. The growing emphasis on renewable energy production, electric vehicles, and sustainable infrastructure underscores copper's pivotal role in facilitating the transition towards a greener economy.
At the same time, copper supply concerns are growing. The limited availability of mined copper or concentrate, critical for copper metal production, has pushed prices upward this year. Supply disruptions, such as the closure of First Quantum’s Cobre mine in Panama last year, have intensified these constraints, propelling prices even higher.2
A lack of new copper projects and declining ore grades pose significant challenges to meeting the burgeoning demand. This imbalance between supply and demand has prompted investors to re-enter the copper market, betting on the metal's long-term prospects.
Funds are buying back into copper's super-cycle credentials, recognizing its potential for substantial returns amid the global shift towards sustainability.3 Despite recent market volatility, investors remain optimistic about copper's enduring appeal and its ability to deliver solid performance over the coming years.
In the midst of surging demand and tightening supply, Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) is poised to make a substantial impact with a 400-million-pound (Indicated and Inferred) historical high-grade copper deposit in the heart of the Abitibi Greenstone Belt.
Abitibi Metals just secured the funding to complete a 7-year option agreement in just four months to acquire an 80% stake in the B26 Polymetallic Copper Deposit, an advanced, high-grade development project that was initially funded by the Quebec government.
The B26 deposit boasts a historical resource estimate of 7.0 million metric tons at 2.94% Cu Eq (Ind) & 4.4 million metric tons at 2.97% Cu Eq (Inf),4 with significant room for expansion. The company also owns the Beschefer Gold Project, where historical drilling has revealed promising intercepts, including 55.63 g/t gold over 5.57 meters and 13.07 g/t gold over 8.75 meters across four identified zones.
Abitibi Metals Expands Exploration Efforts Following Success at B26 Polymetallic Deposit
Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) just announced the completion of its Phase 1 maiden drill program at the B26 deposit, which revealed promising concentrations of copper equivalent and high metal factor zones close to the surface including 2.6% CuEq over 37.0 meters and 2.5% CuEq over 61.3 meters in different drill holes.
The company is fully-funded with $19 million to complete the remaining 16,500 meters planned for the 2024 work program and an additional 20,000 meters in 2025, which will then be used to complete a Preliminary Economic Assessment (PEA) to complete the option to earn 80% of the B26 Deposit over 7 years from SOQUEM Inc.
The company also discovered significant semi-massive and massive sulphides during extensional drilling at the Central Lens of the B26 deposit, where it recently announced some of the highest-grade intercepts in the project's history, including 11.4% CuEq over 10.6 metres at 135 metres depth and 6.3% CuEq over 10.6 metres at 120 metres depth.
Abitibi Metals has successfully drilled 44 diamond drill holes, totaling 13,502 meters as part of a comprehensive 50,000-meter drill program planned for 2024-2025.
“We are thrilled with these initial results of our maiden drill program at the B26 Polymetallic Copper Deposit. We had initially planned to drill 2,750 metres but with the continued success in drilling and support from our shareholders, we expanded our maiden program to 13,500 metres, larger than our initial total program for 2024,” said Abitibi Metals’ CEO John Deluce. “The significance of this program cannot be understated. Part of our thesis when we optioned B26 was to assess the potential open-pit component that could be added to the historical underground resource.”
With the recently completed financing bringing our total treasury to approximately $19 million, Abitibi Metals is well-positioned to build on this maiden program with a further 36,500 metres to be drilled into 2025.
The company's 2024 strategy for developing the B26 Deposit includes drilling an additional 16,500 meters as part of a fully funded 50,000-meter project. Abitibi Metals has also introduced a 3D geological model integrating current and historical data to refine resource estimates. Upcoming initiatives include a Gravity Survey to explore potential mineralized zones and enhanced assay preparation protocols to improve metal content accuracy. Additionally, the company plans to assay previously untested core sections to define the deposit's boundaries more precisely, streamlining efforts to maximize the site’s potential.
Abitibi Metals also reported ongoing drilling activities at the Beschefer Gold Project, located 7 km northeast of the B26 Deposit. Currently, drilling efforts are concentrated on the "East Zone," with 5 holes totaling 1,679 meters completed as of April 22, 2024. The Company is on schedule to complete drilling across 10 holes, totaling 2,975 meters. The East Zone is renowned for hosting some of the highest historical intercepts, such as 55.63 g/t gold over 5.57 meters and 13.07 g/t gold over 8.75 meters.
As the competition for copper intensifies, Abitibi Metals Corp. is well-positioned to make significant strides in 2024 and beyond with a strong backing of heavyweight investors like the Deluce Family, Greg Chamandy, and Frank Giustra and an all-star advisory board with members who have held pivotal roles at major mining companies, including Hecla Mining, Eldorado Gold, Agnico Eagle, Kirkland Lake Gold, and Skeena Resources.
Click here for more information about Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF).
[1] https://www.mining.com/web/copper-demand-to-boom-as-new-technology-drives-power-consumption-trafigura-says/
[2] https://markets.businessinsider.com/news/commodities/copper-commodity-price-rally-outlook-metal-green-industry-first-quantum-2024-4
[3] https://www.mining.com/web/column-funds-buy-back-into-coppers-super-cycle-credentials/
[4] A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. Rapport Technique NI 43-101 Estimation des Ressources Projet B26, Québec, For SOQUEM Inc., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: April 18, 2018, Date of Report : May 11, 2018
Disclaimer
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by, Abitibi Metals Corp.. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Abitibi Metals Corp.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Abitibi Metals Corp.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-amq.
3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.
4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on pressreach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on pressreach.com.
5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Abitibi Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Abitibi Metals Corp.’s industry; (b) market opportunity; (c) Abitibi Metals Corp.’s business plans and strategies; (d) services that Abitibi Metals Corp. intends to offer; (e) Abitibi Metals Corp.’s milestone projections and targets; (f) Abitibi Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Abitibi Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Abitibi Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Abitibi Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Abitibi Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Abitibi Metals Corp.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Abitibi Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Abitibi Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Abitibi Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Abitibi Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Abitibi Metals Corp.’s business operations (e) Abitibi Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Abitibi Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Abitibi Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Abitibi Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Abitibi Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Abitibi Metals Corp. or such entities and are not necessarily indicative of future performance of Abitibi Metals Corp. or such entities.
8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.
Contact Details
James Young
+1 800-340-9767
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/copper-supply-struggles-against-surging-demand-729512517
