Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2) (“Aben” or “the Company”) has
received and interpreted additional analytical results from the
ongoing 2019 drill exploration program at the Forrest Kerr Gold
Project in the Golden Triangle region of British Columbia. The
latest results continue to outline widespread polymetallic
mineralization throughout the North Boundary Zone. These results
are from 5 drill holes located at the margins and well outboard of
the main mineralized core at North Boundary.
Forrest Kerr Project, Golden Triangle,
B.C., location map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Highlights from hole
FK19-52 include a 16 meter (m) interval (between
323-339m) that averaged 2.22 g/t Au, 2.39 g/t Ag and 3050 ppm Cu.
Included in this zone are two separate 1m high-grade intervals of
19.85 g/t Au, 9.10 g/t Ag, 6810 ppm Cu and 11.30 g/t Au,
8.70 g/t Ag & 14900 ppm Cu. This mineralized zone was
encountered roughly 100m below and 50m southward of historic
high-grade gold mineralization discovered in 1991 (reported as
326.0 g/t Au over 1m by Noranda). Other discrete 1m intercepts from
hole 52 include highs of 20.1 g/t Ag, 6.0% Cu, 0.76% Pb and 0.87%
Zn. Hole FK19-53 intersected multiple zones of
anomalous gold (>0.2 g/t) with the most coherent zone between
346-364m (18m) returning average values of 1.24 g/t Au, 2.47 g/t Ag
and 3459 ppm Cu. Included in this zone are two 1m high-grade
intervals of 5.72 g/t Au, 8.70 g/t Ag and
5860 ppm Cu and 8.09 g/t Au, 5.40 g/t Ag & 14200 ppm
Cu. This zone is significant as it occurs on the West side
of the Nelson Creek fault, which previously lacked evidence of
precious and base metal mineralization. Hole
FK19-54 was drilled in the same direction at a steeper dip
angle (-60) than hole 53 and also intersected several 1 to 2m
intervals of modest grade polymetallic mineralization. Between
203-215m (12m) gold averaged 1.05 g/t, silver 1.71 g/t and copper
2108 ppm (with individual highs of 7.14
g/t Au, 4.80 g/t Ag and 11550 ppm Cu over 1m). The
mineralization encountered in holes 53 & 54 was discovered
roughly 450m south of the main high-grade gold discoveries at North
Boundary.
Base and precious metal mineralization has now
been defined over an area measuring in excess of 600m x 250m at
North Boundary (see map link below). Mineralization corresponds to
multiple and widespread fault and shear zone structures within a
panel of Jurassic Hazelton rocks that dominate the Boundary valley.
The mineralized structures correlate very well with magnetic highs
that were delineated by an airborne survey flown in May 2019. The
2019 drill program will focus on increasing the mineralized
footprint in the Boundary valley and will seek to discover a heat
and mineralizing source for the robust hydrothermal system present
on this part of the property. As a result, analytical results are
expected to continue to exhibit a range of values from trace to
high-grade.
Forrest Kerr North Boundary Mineralized
Plan View
map:https://abenresources.com/site/assets/files/1/ABN-N-Boundary-Min-Plan-View.jpg
Over 8000 meters have now been drilled in 21
holes with a projected seasonal total close to 10,000 meters by the
end of September. Thus far, drilling at Forrest Kerr has only
tested a small portion of known targets defined by rock, soil and
geophysical anomalies. A brief summary of all of the holes included
in this release can be found below.
Forrest Kerr North Boundary Zone Drill
Hole
map:https://abenresources.com/site/assets/files/4855/abn_2019_north_boundary_drilling_sept.jpg
FK19-47 (110/-60) – Drilled
from the same pad as FK19-46 (previously reported August 20, 2019
at 0.12 g/t Au over 500.5 meters) at a steeper dip to test for
continuity of mineralization below 47 and between the main
mineralized zone at North Boundary and historic high-grade gold
mineralization reported by Noranda in 1991 (326.0 g/t Au over 1
meter). Hole 47 encountered multiple modest-grade gold (<1g/t
Au) intercepts with intermittent Ag-Cu-Pb-Zn mineralization.
Analytical results returned by both 46 & 47 have pushed the
edge of known mineralization substantially Eastward.
FK19-48 (135/-45) – Drilled
from a location 100 meters North of the main mineralized zone at
North Boundary to test for potential Northeastward extension of
mineralization. This hole failed to intersect significant precious
metal mineralization.
FK19-49 (195/-57) – Drilled
from the same pad as FK19-50 (previously reported August 20,2019
0.46 g/t Au over 61.7 meters starting at 188.0 m) at a shallower
dip. Both holes 49 & 50 were planned to test for the downward
extension of a mineralized horizon discovered in 2018 (holes
FK18-17 & 18) situated approximately 50 meters NW of high-grade
Au-Ag-Cu mineralization at North Boundary. Hole 49 intersected
weaker gold mineralization (0.52 g/t Au over 8m) than the steeper
hole 50 but the combined result of the two holes shows a 20+m
extension to the zone encountered in 17 & 18.
Drill Hole |
From (m) |
To (m) |
Interval (m) |
Au average (g/t) |
FK19-50 |
188.00 |
249.70 |
61.70 |
0.46 |
including 11.65 g/t over 1 m |
*FK18-17 |
232.00 |
284.00 |
52.00 |
1.82 |
including 31.4, 22.5 and 8.4 g/t over 1 m interval |
*FK18-18 |
186.00 |
247.00 |
61.00 |
0.37 |
including 11.55 g/t over 1 m |
*previously reported
FK19-52 (310/-55) – Located
roughly 500m from the main mineralized core at North Boundary and
drilled from the same pad at a steeper dip than the previously
reported hole FK19-51. Both holes were drilled oblique to the
roughly North-South mineralized corridor to test for the southward
extension of mineralization and depth potential under historically
reported mineralization. Several discrete horizons of base and
precious metal mineralization were reported from this hole. From
323-339 m (16m interval) average grades were 2.22 g/t Au, Ag 2.39
g/t and 3050 ppm Cu. Included in this zone are two separate 1m
high-grade intervals of 19.85 g/t Au, 9.10 g/t Ag,
6810 ppm Cu and 11.30 g/t Au,
8.70 g/t Ag & 14900 ppm Cu. The entire hole returned
an average of 0.11 g/t Au over 469.0 meters.
FK19-53 (250/-45) – Collared
from the same pad as holes 51 & 52 but drilled WSW to test for
mineralization potential within and adjacent to several
sub-parallel fault and shear structures. Between 346-364m this hole
returned 1.24 g/t Au, 2.47 g/t Ag and 3459 ppm Cu over 18 meters.
Included in this zone are two 1m high-grade intervals of
5.72 g/t Au, 8.70 g/t Ag, 5860 ppm Cu and
8.09 g/t Au, 5.40 g/t Ag & 14200 ppm
Cu. Multiple other moderate to high-grade intercepts of
Au, Ag, Cu and Zn mineralization were encountered with an overall
average of 0.10 g/t Au over 430.5 meters.
FK19-54 (250/-60) – This hole
undercut the precious and base metal mineralization encountered in
hole 53 at a steeper dip. Several samples returned elevated
precious and base metal intercepts from discrete zones with the
most coherent zone between 203-215m depth (averaging 1.05 g/t Au,
1.71 g/t Ag and 2108 ppm Cu over 12m), including 1m highs of
7.14 g/t Au, 4.80 g/t Ag and 11550 ppm
Cu.
Drill Hole |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
FK19-52 |
323.0 |
339.0 |
16.00 |
2.22 |
2.39 |
3050 |
including |
330.0 |
331.0 |
1.00 |
19.85 |
9.10 |
6810 |
including |
337.0 |
338.0 |
1.00 |
11.30 |
8.70 |
14900 |
FK19-53 |
346.0 |
364.0 |
18.00 |
1.24 |
2.47 |
3459 |
including |
347.0 |
348.0 |
1.00 |
5.72 |
8.70 |
5860 |
including |
357.0 |
358.0 |
1.00 |
8.09 |
5.40 |
14200 |
FK19-54 |
203.0 |
215.0 |
12.00 |
1.05 |
1.71 |
2108 |
including |
|
|
|
7.14 |
4.80 |
11550 |
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
Forrest Kerr Project Exploration Target
map:https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png
Analytical and QA/QC
description:
All 1- or 2-meter drill core samples were
delivered to ALS Global prep facility in Terrace, British Columbia
where they were crushed until 70% passed a 2mm sieve, then a 250g
split was pulverized until better than 85% passed a 75-micron
screen. Gold was tested via fire assay method Au-ICP21 with all
ore-grade samples (>10 g/t) undergoing fire assay with
gravimetric finish. ALS performed multi-element ICP-AES package
ME-ICP41 in their Vancouver facility to test for 35 other elements.
In addition to the quality assurance and quality control program
performed by ALS, Aben personnel insert lab certified standards,
field blanks and duplicates into the sample stream at the rate of
one QA/QC sample in every 10 samples.
Justin Property, Yukon royalty
renegotiation
The Company reported today that it had entered
into a Settlement Agreement with Sandstorm Gold Ltd. (“Sandstorm”),
pursuant to which the parties have renegotiated the terms of
certain royalty agreements over the Company’s 100% owned Justin and
Hit Properties in the Yukon. As a term of the Settlement Agreement,
the Company will issue 750,000 shares to Sandstorm as partial
consideration for the cancellation of certain advance royalty
obligations and the creation of new royalty agreements with
Sandstorm. Additional consideration for the Settlement Agreement is
the assignment by the Company to Sandstorm of various royalty
buyback rights held by the Company. As a result of the Settlement
Agreement, the royalty obligation to Sandstorm on the Justin and
Hit Properties has been reduced from 3% to 2% and the obligation to
make advance royalty payments has been terminated. The Settlement
Agreement and closing are subject to approval of the transaction by
the TSX Venture Exchange.
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:
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 over $3 million in the Company’s treasury.
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:
604-687-3376Toll 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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