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Abitibi Metals ( (TSE:AMQ) ) has issued an announcement.
Abitibi Metals reported further high-grade copper-gold drill results from its Phase 3 program at the B26 deposit in Québec, highlighted by hole 1274-17-269W6, which intersected 12.83% CuEq over 5 metres within a broader 19-metre interval at depth in the Western Down-Plunge zone. The Phase 3 campaign, comprising 24,544 metres across 40 holes, has confirmed strong grade continuity in a 250 m by 500 m high-grade window and extended resource-grade mineralization by 250 m down plunge, supporting expectations of significant resource growth beyond the current 11.3 Mt indicated and 7.2 Mt inferred CuEq resource. With mineralization still open along strike and at depth, Abitibi is accelerating a 40,000-metre Phase 4 drill program focused on rapidly expanding this high-grade zone, signalling potential improvements to project economics and reinforcing the deposit’s importance within the regional copper-gold exploration landscape.
The most recent analyst rating on (TSE:AMQ) stock is a Hold with a C$0.57 price target. To see the full list of analyst forecasts on Abitibi Metals stock, see the TSE:AMQ Stock Forecast page.
Spark’s Take on TSE:AMQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:AMQ is a Neutral.
The score is driven primarily by a strong, debt-free balance sheet but offset by no revenue, widening losses, and ongoing cash burn. Technicals are supportive on trend but show very overbought momentum, while valuation is constrained by negative earnings and no dividend data.
To see Spark’s full report on TSE:AMQ stock, click here.
More about Abitibi Metals
Abitibi Metals Corp. is a mineral exploration company focused on advancing the B26 polymetallic copper-gold deposit in Québec. The company targets high-grade copper, gold, zinc and silver resources, with current indicated and inferred resources totalling over 18 million tonnes of CuEq mineralization, and is working to expand its stake in the B26 project beyond its current 50% interest through an earn-in option with SOQUEM Inc.
Average Trading Volume: 638,704
Technical Sentiment Signal: Buy
Current Market Cap: C$86.68M
For an in-depth examination of AMQ stock, go to TipRanks’ Overview page.