The Afton properties belonging to the Company lie within a mining camp hosting a number of mined and un-mined alkalic copper-gold, porphyry style deposits.   Since 2002, Abacus has redefined several known deposits through expansion of copper – gold mineralization down dip and along strike. The Company has completed over 520,000 feet (approximately 158,000 metres) of drilling and developed NI 43-101 compliant Indicated resources on the DM and Rainbow deposits, totaling 60.1 million tonnes and an Inferred resource at the Ajax West deposit totaling 147,000,000 tonnes (all resources estimated at 0.20% copper cut-off).

Ajax  Area Deposits 

Geologically, the Ajax pits are very similar to the Rainbow Zone. At the West Pit, the mineralization generally occurs within Sugarloaf diorite and hybrid diorite; which is bounded by picrite to the south and older Pothook diorite and Pothook Hybrid to the north. Pothook diorite is not seen in the West Pit or the drilling; however a "gabbroic" magnetite-pyroxene Pothook Hybrid occurs along much of the north wall of the pit and has been intersected in some of the drill holes. The East pit host rocks are similar; although picrite is not seen near surface.  

The Ajax property comprises of eight 100% owned Crown grants which include the historic Ajax East and West pits.  Also included is an interest in claims between the pits acquired as a result of a joint-venture agreement signed with New Gold Inc.  The Ajax area lies nine kilometres southeast along an existing haul road from the Afton mill, shop facilities and tailings area which Abacus agreed to purchase along with the water rights in 2005 from Teck-Cominco.  The high priority, Phase 1, drilling on the Joint Venture ground has been completed.  One  drill  is currentley active on the property  ( as of August 6 ,2008) .    

Abacus is  working with  AMEC Americas Limited (“AMEC”) to complete a new 43-101 resource on the entire Ajax Area as well as the other Abacus deposits in the camp, which will include over 280,000 feet (approximately 85,000 metres) of additional drill data since the last resource work was done.  This new resource estimate is scheduled for completion in the third quarter of 2008 followed by the Preliminary Economic Assessment which is expected to be finalized before the end of the year. This is a slightly revised schedule to what was originally anticipated but will yield a high quality comprehensive technical report providing the foundation to move the project forward.”

Ajax West

Ajax West - Inferred Resources