Abitibi Metals Corp (CSE:AMQ, OTC:AMQFF) announced it has added a third drill rig to its ongoing maiden drill program at the B26 polymetallic deposit.

The deployment of this rig is set to propel the company towards its target of over 10,000 meters across three priority areas by quarter end, as part of a fully funded 30,000-meter 2024 field season.

Once the rig arrives, Abitibi will be able to remain on schedule to complete over 10,000 meters across three priority targets by the end of the quarter, it said in a statement.

Additionally, the statement references an option agreement entered into on November 16, 2023, regarding the B26 Deposit, through which Abitibi has the potential to earn an 80% interest over seven years from SOQUEM Inc.

Since securing that option agreement, Abitibi’s drill program has yielded promising results. With two rigs already operational, attention is now turning to the Eastern Extension, a high-priority target where historical drilling revealed significant copper mineralization.

Jonathon Deluce, CEO of Abitibi Metals, highlighted what he called “exceptional copper mineralization” observed at the deposit, where recently drill intercepts showed promising results.

Deluce emphasizes that the third rig will enable them to advance aggressively on multiple fronts, focusing on maximizing drilling meters at the Main Deposit and Satellite West Target while also unlocking the exploration potential at the high-priority Eastern Extension target.

He sees this as an opportunity to potentially expand the main deposit further, illustrating the company’s commitment to advancing the project and capitalizing on its exploration opportunities.

“Our first phase of drilling has demonstrated the robust nature of the B26 polymetallic deposit and has established a solid foundation and technical vision for resource expansion and de-risking of the project,” Deluce told investors.

The company is awaiting assay results from 29 completed drill holes.