Abitibi Metals Corp
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Jonathon Deluce
- Full Time Employees
- - -
- Sector
- Non-energy minerals
- Industry
- Precious metals
- Address
- 1231 Huron Street London ON Canada N5Y 4L1
- IPO Date
- Mar 9, 2020
- Website
- abitibimetals.com
- Similar Companies
- Business
- Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition, exploration and development company engaged in the advancement of high-grade base and precious metal properties in the Abitibi Greenstone Belt of Quebec and Ontario. The company holds interests in the flagship B26 Polymetallic Deposit, a volcanogenic massive sulfide (VMS) project hosting indicated resources of 11.3 million tonnes grading 2.13% copper equivalent (1.23% copper, 1.27% zinc, 0.46 g/t gold, 31.9 g/t silver) and inferred resources of 7.2 million tonnes grading 2.21% copper equivalent (1.56% copper, 0.17% zinc, 0.87 g/t gold, 7.4 g/t silver), along with the Beschefer Gold Project featuring historical high-grade intercepts including 55.63 g/t gold over 5.57 metres; additional properties include the 100%-owned Horizon North-West in Ontario, Bonanza, Val D’ North and Southern Arm projects in Quebec. Operations target copper, zinc, gold and silver deposits for resource expansion and potential development in mining-friendly jurisdictions. Founded in 2018 and headquartered at 1231 Huron Street in London, Ontario, Canada, the company was formerly known as Goldseek Resources Inc. prior to its name change in October 2023. Recent developments include securing a 50% interest in the B26 Deposit in June 2025 through the completion of an earn-in agreement with SOQUEM Inc., a subsidiary of Investissement Québec, positioning the company to advance toward 80% ownership via a planned joint venture with an 80-20 expenditure split and subject to a 2% net smelter return royalty (1% buyback option for $2 million); resumption and expansion of the Phase 3 drill program in June 2025 to up to 20,000 metres across three rigs using directional drilling technology, focusing on high-grade extensions up to 500 metres from the resource with intercepts such as 4.46% CuEq over 21.1 metres and 150-metre step-outs confirming mineralization growth; and incorporation of 16,500 metres from Phase II drilling into an updated internal resource model supporting preliminary economic assessment work. The company also enhanced operational efficiency through transition to in-house teams, advanced geophysical targeting with VTEM and downhole EM surveys, and strategic funding including a C$10 million bought deal in April 2024. These initiatives underscore aggressive resource delineation and partnership-driven advancement of the B26 system.
Company News
Abitibi Metals Intersects 3.72% CuEq over 9.2 m Within a Broader 1.25% CuEq over 60.2 m at the B26 Deposit
Abitibi Metals Announces Initial Recoveries at B26 of 98.2% Copper in Metallurgical Testwork
Abitibi Metals Intersects New Potential VMS Zone 1.5 Kilometres West of the B26 Deposit
Abitibi Metals Continues to Strengthen Leadership Team with the Appointment of Ben Pullinger as Senior Vice President of Corporate Development and Growth
Abitibi Metals Appoints Keith Gorman as Chief Financial Officer and Operations Update
Abitibi Metals Secures 100% Ownership of the B26 Deposit and Establishes a District Scale Consolidation Platform Across the Selbaie Camp
Abitibi Metals Intersects 4.04% CuEq (3.63% Cu, 0.37 g/t Au) over 14 m within 1.48% CuEq (1.33% Cu, 0.13 g/t Au) over 46.7 m
Abitibi Metals Announces Closing of Non-Brokered Financing for Gross Proceeds of $30.75 Million
Abitibi Metals Secures Up to C$30.75 Million in Strategic Financing Led by Discovery Silver
Abitibi Metals Announces Non-Brokered Financing Led by Discovery Silver, with a 9.9% Strategic Stake
Abitibi Metals Expands Western Down-Plunge Zone with 150m Step-Out, Intersecting 2.71% CuEq over 7m within 1.81% CuEq over 15m
Abitibi Metals Announces Filing of NI 43-101 Technical Report for the B26 Deposit
Abitibi Metals Achieves Early Exercise of B26 Option, Securing 80% Ownership of the High-Grade Copper-Gold Project in Quebec
Abitibi Metals Delivers 124% Resource Growth at B26, Defining a High-Grade Copper-Gold System of Meaningful Scale
Abitibi Metals Delivers Significant Increase in B26 Mineral Resource, Advancing to 13.0 Mt Indicated at 2.1% CuEq and 12.3 Mt Inferred at 2.2% CuEq
Abitibi Metals Delivers 12.83% CuEq at B26 as High-Grade Zone Continues to Grow
Abitibi Metals Continues to Expand High-Grade Copper-Gold Mineralization in the Western Down-Plunge, Highlighted by 12.83% CuEq over 5m
Abitibi Metals Appoints Proven Mine Builder and Operator David Bernier as Chief Operating Officer
Abitibi Metals Launches Large-Scale Phase 4 Drill Program Targeting up to 40,000 Metres at the B26 Project
Abitibi Metals Issues Year-End Shareholder Letter as Copper Hits Record Highs