Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2) (“Aben” or “the Company”) has
received and interpreted additional analytical results from drill
holes FK19-55 through FK19-63. These results are from the
2019 drill exploration program at the Forrest Kerr Gold Project in
the Golden Triangle region of British Columbia. This release
reports on drill holes located within the Boundary Valley but
distal to the main mineralized zone at North Boundary. Part of a
second phase of drilling, these holes tested for precious and base
metal mineralization along geologic structures and contacts located
outboard from known mineralization toward the margins of the large
hydrothermal system present on this part of the Forrest Kerr
Property.
The 2019 drill program sought to increase the
mineralized footprint in the Boundary valley, test outlying fault
and shear structures for potential mineralization and to ultimately
vector toward a heat and mineralizing source for the focused
high-grade precious and base metal mineralization recently
discovered on the Property.
Forrest Kerr Project, Golden Triangle,
B.C., location map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Drill hole FK19-55 (250, -80),
a sub-vertical hole collared in the Cracko zone, tested for
polymetallic mineralization at depth near the southern limit of the
North Boundary zone (450 m south of the mineralized center). 26
separate meter-long intervals returned Au values between 0.10 and
1.26 g/t Au with periodic Ag-Cu+/- Zn mineralization. Hole 55 was
the deepest hole drilled on the Property thus far (525 meters
vertical depth) and shows the mineralized zone at North Boundary
that now measures 750 m x 250 m is still highly prospective at
depth.
Forrest Kerr North Boundary Mineralized
Plan View
map:https://abenresources.com/site/assets/files/4855/abn_n_boundary_min_plan_view.jpg
Drill holes
FK19-56→58 were collared from the same
pad to target mineralization associated with the Cracko fault.
Holes 56 & 57 failed to cross this important structure and were
abandoned prior to the target depth. Hole 56 encountered multiple
isolated mineralized horizons that returned a range of polymetallic
mineralization including Au (trace to 3.08 g/t), Ag (trace to 5.1
g/t), Cu (trace to 13,550 ppm) and Zn (trace to 20,600 ppm). Hole
FK19-57 did not discover significant
mineralization before being abandoned at 138 meters. Hole
FK19-58, drilled more Easterly and at a steeper
dip (090, -55) than the previous two holes, crossed the fault and
ended within a poorly mineralized and intensely sericite altered
rock package.
Drill holes
FK19-59→61 were drilled in a fan pattern
at South Boundary, located 2.5 km south of the main mineralized
core at North Boundary. These three holes tested the flanks and
breadth of multiple fault and shear structures within an area that
represents a major structural culmination within the Boundary
valley. Holes 59 and 60, drilled NNE at a -45 degree dip,
encountered multiple disjunct horizons with modest Au grades (<
1.0 g/t). Hole FK19-61 (090, -48) was drilled
across a major structural intersection outlined by an airborne
magnetic survey completed in May 2019. This hole intersected
multiple 1-meter intervals of modest Au (trace to 0.79 g/t) and Ag
(trace to 11.4 g/t) mineralization with intermittent spikes in Pb
(trace to 15,500 ppm) and Zn (trace to 58,800 ppm). Of note and
potential importance in hole 61 was the discovery of a strongly
pyritic bedded sedimentary sequence between two prominent NE
trending lineations. This style of deposition and mineralization
has characteristics of VMS-style stratiform mineralization found in
rift environments, such as the Eskay Creek deposit, located 30 km
to the Southeast. This style of mineralization had not been
previously observed by Aben personnel on the Property and will be
closely examined and followed up with field work and potential
drill testing.
Drill holes FK19-62 & 63
were also drilled at South Boundary, about 500 m North of holes
59 → 61 and 300 m South of holes FK18-19, 20 & 21
(reported October 16, 2018). Both holes intersected coherent zones
of modest grade gold mineralization with hole 62 (110, -45)
reporting an average of 0.12 g/t Au between 78-135 meters (57 m)
and hole 63 (110, -55) returning 0.10 g/t Au between 75-125 meters
(50 m). Hole FK19-62 also encountered a separate zone between
291-337 meters that returned an average grade of 0.12 g/t Au over
46 m. Both holes intersected isolated horizons of strong Ag-Cu-Zn
mineralization. The apparent mineralized corridor defined by gold
values in holes 19, 20, 21, 62 & 63 measures in excess of 500 m
in strike length over a lateral distance between 100-150 m. It is
open toward the North and South and at depth.
Jim Pettit, President and CEO of Aben Resources
states, “We are pleased with the progress of exploration to date as
we have now defined gold mineralization at North Boundary over an
area measuring roughly 750 x 250 meters that is still open at
depth. We have also discovered a second 500-meter mineralized
corridor at the South Boundary Zone that is open to the North and
South as well as at depth. We drilled a zone at the southern
margins of South Boundary that displays characteristics of
VMS-style mineralization, a mineralization style not previously
observed in the Boundary Valley. This newly found occurrence could
prove to be significant and is indicative of the strength of the
hydrothermal system present at Forrest Kerr with the presence of
high-grade mesothermal veins and widespread porphyry-style
alteration and mineralization. Aben has amassed a sizeable and
growing database on the Forrest Kerr Property and we look forward
to receiving analytical data from the remaining seven holes of the
season.”
The 2019 exploration season has now concluded
with over 9600 meters drilled in 25 drill holes. Thus far,
drilling at Forrest Kerr has only tested a small portion of known
targets defined by rock, soil and geophysical anomalies. Base and
precious metal mineralization has now been defined over an area
measuring in excess of 750m x 250m at North Boundary and 500m x
150m at South Boundary. Mineralization corresponds to multiple and
widespread fault and shear zone structures within a panel of
Jurassic Hazelton rocks that dominate the Boundary valley.
Forrest Kerr North & South Boundary
Zone Drill Hole
map:https://www.abenresources.com/site/assets/files/4826/abn_boundary_drill_plan_october_21.1024x0.jpg
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.
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 $1.5 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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