Abacus Mining & Exploration Corporation (TSXV:AME)

Mining

Abacus Mining & Exploration Corporation focuses on development of gold and copper properties across North America.

The company holds 20 per cent interest in Ajax Project, a copper and gold porphyry property in Kamloops, British Columbia.

KGHM Polska Miedź S.A. manages the project and holds 80 per cent interest.

Abacus Mining aims to explore properties through a sustainable approach and offer maximum returns to its investors.

The company’s portfolio consists of three cornerstone assets:
• Ajax Project
• Willow Porphyry Project
• Jersey Valley

Ajax Project

The company says that the mineral exploration commenced in the 1880s when copper, gold and iron deposits were founded at the Thompson Nicola region. It further says underground exploration began at Ajax in 1906. In addition, a Canadian company completed various surface drilling programs on the property in 1928.

Teck company operated the Afton mine between 1987 and 1997. In addition, it claims to have operated on two satellite pits: Pothook and Crescent.

New Gold now operates the mine as New Afton Mine since 2012. The Afton property consists of shop facilities, a tailings area, water rights, purchased by Abacus in 2005.

The mining company announced a joint venture agreement with KGHM Polska Miedz SA ("KGHM") in 2010 to reportedly boost the operations at the mine. KGHM claims to be a global leading developer of copper and silver deposits.

KGHM Ajax Mining Inc holds 100 per cent interest in Ajax property. It is a joint venture firm where Abacus has 20 per stake and KGHM holds 80 per cent.

Willow property

Abacus acquired this property through a joint venture agreement with Almadex Minerals in 2017. It is located in the Buckskin Mountain Range of Nevada.

Anaconda Mining, Bear Creek Mining and Conoco commenced exploration operations on Nev-Lorraine and Willow property in the 1960s.

The company discovered copper- iron and copper-gold metamorphic rocks with four porphyry copper deposits, namely Yerington, Ann Mason, Bear and MacArthur. The exploration company says that main skarns are Malachite Mines, Bluestone and Mason Valley.

The camp hosts another large porphyry, Ann Mason, consisting of 1.4 billion tons of copper previously acquired by Mason Resources.

Jersey Valley

The company purchased this property, located in north-central Nevada, from a private Nevada-based company in 2019. This property consists of gold skarns, a broad range of sediments, intrusive rocks, the Phoenix/Fortitude mine complex and the Cove/McCoy Mine. The property is connected to a 15 megawatts geothermal power plant that is accessible by a sealed road, the mining firm claims.

Contact Information

company address "Suite 1000 - 1050 West Pender Street Vancouver, B.C. V6E 3S7 Canada"

company phone866-834-0301

company email[email protected]

company websitehttps://www.amemining.com

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