Aben Resources Ltd.
(TSX-V: ABN) (OTCQB:
ABNAF)
(Frankfurt:
E2L2) (the “Aben or the Company”)
announces the commencement of diamond drilling at the Forrest Kerr
Gold Project in BC’s Golden Triangle and the completion of the 2019
drill program at the Justin Gold Project in the Yukon. The Company
is planning to start with another 5000-meter drill program at
Forrest Kerr this year that can be expanded to 10,000 meters as
results dictate. Aben Resources is well funded with over $5 million
in the treasury.
ABEN COMMENCES 2019 DRILL PROGRAM AT
FORREST KERR PROJECT, BC
The 2019 drill exploration program at the
Forrest Kerr Gold Project has now seen the mobilization of the
drill and the start of drilling commenced. The size and scope of
this years drill program will start out with 5000 metres and will
increase based on exploration and drilling success. The initial
drilling will be focused within and peripheral to the North
Boundary Zone, which has previously returned high-grade results
such as 38.7 grams/tonne (g/t) (1.12 oz/t) gold over 10.0 m (from
114.0-124.0 m) including 331.0 g/t (9.65 oz/t) gold over 1.0 m in
hole FK18-10. Initially drill testing will focus on the potential
for a northward extension of the high-grade mineralized core at
North Boundary and to test for potential connectivity with historic
high-grade gold discoveries such as 326.0 g/t gold reported in 1991
by Noranda in drill hole RG91-16 (located 200 m to the south of the
North Boundary mineralized core). 2018 drilling was hampered by
limited permitted pad locations as a result of extensive forest
fire activity in the area. Over the winter season, an additional 45
drill pad locations have been approved by government agencies,
allowing maximum flexibility for testing new geophysical and
geochemical targets and for investigating evolving geological
theories.
Forrest Kerr Project, Golden Triangle,
B.C., location
map:https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Drill activities will also target polymetallic
mineralization at the South Boundary Zone where broad intercepts of
gold-silver-copper-zinc values in quartz veins were discovered in
holes FK18-19, 20 & 21. An airborne magnetic survey was
completed in May across the entire Boundary Zone, over an area that
measures in excess of 2.0 km x 4.0 km. The magnetic geophysical
data has thus far correlated well with geologic surface
observations and should help delineate important geologic
structures that influence mineralization.
Airborne Magnetic Survey from Boundary
Zone on the Forrest Kerr
Project:https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf
Drilling to date has targeted near-surface,
high-grade precious metal mineralization. Observations from past
drilling and recently-acquired geophysical data (details below)
support the theory that mineralization encountered may be related
to deeper-seated and/or larger structurally-related systems. The
Golden Triangle area is host to numerous world-class porphyry
deposits (Galore Creek, Copper Canyon, Red Chris), in addition to
numerous high-grade gold deposits (Brucejack, Snip, Premier). Aben
intends to carry out deeper drilling during the 2019 season to test
for these deposit types. Management cautions that past
results or discoveries on proximate lands are not necessarily
indicative of the results that may be achieved on the Forrest Kerr
property.
In addition to the exploration activities at the
Boundary Zone, Aben anticipates that a high priority target
recently identified in the Forrest Zone (located 13 km south of
Boundary) will also be drill tested this summer. The area of
interest at Forrest Kerr is defined by highly anomalous
gold-in-soil and gold-in-rock values coincident with a strong
geophysical conductive anomaly originally reported in 2013.
Aben’s President and CEO Jim Pettit remarks,
“The Company looks forward to continued success as we start our
fourth season of exploration and drilling at the Forrest Kerr Gold
Project. With the addition of the recently completed airborne
magnetic survey to our extensive historic and more recent data
compilation, we hope to gain greater understanding of structural
influences in the highly mineralized Boundary Zone and, further to
all this, we now have approval for 45 more drill pad locations that
will allow us to optimize the targeting of prospective zones, both
new and old.”
Forrest Kerr Project Exploration Target
map:https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png
Soil Sampling Map at Forrest
Zone:https://www.abenresources.com/site/assets/files/4299/abn-forrest-kerr-soil-2017_1024x0.jpg
COMPLETION OF DRILLING AT THE JUSTIN GOLD
PROJECT IN THE YUKON
The Company would also like to announce the
completion of the 2019 drill program at the Justin Property in the
Yukon where a total of 1556 metres utilizing both a diamond drill
rig and a rotary air blast (RAB) drill to test for mineralized
extensions on high priority targets.
The diamond drill rig completed 963.0 m in four
holes at the POW Zone, an area that contains gold-bearing vein,
breccia and skarn replacement mineralization as proven in surface
sampling and recent drill programs (60.0 m grading 1.19 g/t Au in
drillhole JN11009). The 2019 POW drilling sought to evaluate the
potential to host bulk-tonnage gold mineralization and to test for
the continuity of higher-grade skarn mineralization along strike.
All four diamond drill holes encountered sulfide mineralization and
have now been sent off site for analysis. Four rotary air blast
holes were also completed at the POW Zone in order to test for the
subsurface extension of semi-massive sulfide veinlets (pyrite +
arsenopyrite +/- galena) discovered on surface.
The majority of RAB drilling took place at the
recently discovered (2017) Lost Ace Zone, a gold-bearing vein
system that has returned significant gold mineralization in
trenching (chip sample averaged 20.8 g/t Au over 4.4 m including
88.2 g/t Au over 1.0 m). The first ever drilling at Lost Ace
totaled 462 meters in 16 holes. Several drill holes at Lost Ace
successfully intersected mineralization at the contact between a
pebble conglomerate and an underlying phyllite unit where visible
gold was discovered in surface sampling in 2018. The association of
gold mineralization at this contact shares many characteristics
with the mineralized setting at the adjacent 3-Aces project.
Aben Resources will be reporting the results
from the 2019 exploration project at Justin in the upcoming weeks.
To date, the Property has produced gold mineralization hosted
within sheeted vein arrays, stockwork, breccias and skarn
replacement mineralization with several other
mineral occurrences that warrant further evaluation.
Additional info on the Justin
Project can be found on Aben’s web
site:https://www.abenresources.com/projects/gold-projects/justin-gold-project-yk/
Cornell McDowell, P.Geo., V.P. of Exploration
for Aben Resources, has reviewed and approved the technical aspects
of this news release and is the Qualified Person as defined by
National Instrument 43-101.
About Aben Resources Ltd.:
Aben Resources is a Canadian gold exploration
company developing gold-focused projects in British Columbia and
the Yukon Territory. Aben is a well-funded junior exploration
company with approximately 116.6 million shares issued and
outstanding.
For further information on Aben Resources Ltd.
(TSX-V: ABN), visit our Company’s web site at
www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”______________________JAMES G.
PETTITPresident & CEO
For further information contact myself or:Don MyersAben
Resources Ltd.Director, Corporate Communications Telephone:
604-639-3851Toll Free: 800-567-8181Facsimile: 604-687-3119Email:
info@abenresources.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that
may be deemed to be "forward-looking statements". All statements in
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change. Factors
that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and
financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for
further information.
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