Paladin’s Fission Uranium takeover delayed by Canada security review
The takeover has faced several hurdles, including a delayed shareholder vote in August and opposition from Fission’s largest investor.
Canadian junior explorer Abcourt Mines (TSX-V:ABI) has intercepted a high-grade silver zone at its Abcourt-Barvue orebody in Quebec.
Quebec-focused Abcourt said it intersected a 4.7-metre section where silver grades averaged 1,386 grams per tonne and 5.57% zine. One section 1.3 meters wide contained 4,696 g/t silver and 11.75% zinc. The intersection was cut 225 metres below surface.
The company’s stock was up 23.81% in mid-day trading Wednesday on high volumes.
“Our drilling program continues to give excellent results in the main zone of mineralization. We are getting good grades and good widths,” Abcourt said in a statement.
Abcourt is drilling the property in hopes of upgrading its NI 43-101 resources and reserves. The company is also exploring the Elder gold mine and the Aldermac copper-zinc property- both former producers.
