Aben Resources Announces Exploration Plans for 2017
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, March 30, 2017 (GLOBE NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) ("Aben" or the "Company") is
pleased to announce an update with regard to its 3 strategic gold projects and
the upcoming work programs planned for this year.
Forrest Kerr Project-Update on preparations for Exploration and Drill Program
2017
Preparations for the upcoming exploration season at Aben's flagship Forrest Kerr
Project located in the heart of BC's Golden Triangle are progressing smoothly.
Aben's permit application (Notice of Work) has been filed with the Province of
British Columbia and is currently in the consultation phase, with final approval
anticipated in May 2017. Aben has assembled an experienced exploration team and
expects to have all drilling, helicopter, and support contractors in place
during the first week of April. Snow accumulation over the project area has,
thus far, been below average, which should allow field crews to be on the ground
in early June. After several months of compiling and analyzing all historic
data, the exploration team has identified several areas of immediate interest
and is confident that the upcoming field season at Forrest Kerr will prove
successful in advancing the project and providing value for Aben shareholders.
Golden Triangle, B.C., claims map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Forrest Kerr Project Summary and History
Systematic exploration within regions of the Forrest Kerr project area commenced
in the mid-1980s and saw continuous exploration programs from 1988 to 2005.
Little work has been completed from 2005-2016. Early work in the project area
was focussed on exploration for Eskay-type (VMS) deposits, though the more
recent discovery of structurally-related high-grade gold mineralization at
Pretivm Resource's Brucejack project underscores the variety of exploration
targets available to Aben.
Since the completion of significant exploration activity in the early 2000s, the
area has seen major infrastructure improvements including roads associated with
the construction of the Forrest Kerr and McLymont Creek hydro-electric
facilities near the southern boundary of the property and the construction of
the 287KV Northwest Transmission Line. Development of the Galore Creek Project
has also provided road access to the northern reaches of the Forrest Kerr
Project, which provide greatly improved access in addition to new exposures made
by road-cuts.
Forrest Kerr Gold Project, B.C., Golden Triangle claims map:
http://www.abenresources.com/i/maps/ABN_Forrest_Kerr_Project_map_small.jpg
Drilling throughout the project area is relatively limited, with analytical
results ranging from trace amounts to multi-gram gold concentrations. Historical
drilling and field work completed throughout the project area confirms the
presence of numerous high-grade gold, silver, and base-metal mineral showings.
Highlights include:
* RDN drill-hole RG91-16, at the Boundary Zone, returned 10.2 g/t gold over
17m (including 359.7 g/t gold over 0.45m) and RG91-21 which returned 101.0
g/t gold over 1.95m and 137.8 g/t gold over 0.85m (true width unknown). Many
of these intercepts, interpreted to be possible feeder zones to a precious
metal VMS system, are yet to be followed up.
* 1990 drilling at the Triple Creek Zone to the south returned up to 39.7m
grading 1.78 g/t gold (including 2.0m grading 5.9 g/t gold, 190.0 g/t silver
and 12.4% copper).
* Notable sample occurrences include: Jungle (25.5 g/t gold float); For
(15.85% copper in narrow veins); Forgold (30.5 g/t gold and 15.85% copper in
narrow veins); Falls (22.11 g/t gold, .32% copper-grab); Marmot Heights
(45.57 g/t gold-grab).
Aben has not been able to independently verify the methodology and results from
historical work programs within the property boundaries. However, management
believes that the historical work programs have been conducted in a professional
manner and the quality of data and information produced from them are relevant.
Chico Project-Update on preparations for Exploration and drill Program 2017
The 2016 exploration program at Aben's Chico property, located 45 km southeast
of Silver Standard's recently acquired Seabee Gold Mine in northern
Saskatchewan, verified the existence of high grade gold mineralization along a
1500m x 20m quartz-vein-fill shear system. Numerous drill targets have been
identified and permitting has been completed [for a diamond drilling program
proposed for late 2017 to early 2018]. In advance of the drill program, Aben has
commissioned a resistivity-I.P. geophysical survey to be completed immediately
following spring breakup. Results of the detailed survey will be used to
constrain and prioritize the drill targeting.
Chico Gold Project location map, Saskatchewan:
http://www.abenresources.com/i/maps/ABN_Chico_Location_and_Highlights.jpg
Chico Project Summary and History
The Chico structural zone comprises a north/northeast-trending 20m- to 150m-wide
multi-episodic shear system comprising both ductile and brittle gold-bearing
quartz vein systems. Trenching and drilling activities carried out in the
project area by Corona Corporation and Cameco from 1988 to 1993 defined a
mineralized strike length of over 1400m. Follow-up diamond drilling by Cameco
returned five significant intercepts ranging from 0.51 g/t over 1.5m, to 36.0
g/t over 0.3m (AR 63M06-0041).
The 2016 program by Eagle Plains marks the most recent systematic exploration
work carried out to date at Chico.
Highlights include:
* 1.5 km mineralized structural corridor defined by past and current work
* Anomalous soil geochemical samples up to 4.5 g/t gold along structural
corridor
* Rock samples ranging from trace quantities to 20.2 g/t recovered
* Numerous drill targets identified
Aben has not been able to independently verify the methodology and results from
historical work programs within the property boundaries. However, management
believes that the historical work programs have been conducted in a professional
manner and the quality of data and information produced from them are relevant.
Justin Project-Update on Preparation for Exploration Program 2017
Aben's Justin Project is located in the southeastern corner of the Yukon and
adjoins Golden Predators 3 Aces project. In 2011, a first-pass drill program
consisting of 2,020 metres in ten drill holes targeting four separate
mineralized zones was completed on the Justin Project. During this program, a
significant new greenfield gold discovery was made at the POW Zone, with drill
highlights including 60.0 metres of 1.19 g/t gold including 21.0 metres of 2.47
g/t gold in hole JN11009. A total of 1,994 metres were drilled in nine holes
during the 2012 field season at the Justin property with highlights including
46.4 metres of 1.49 g/t gold in hole JN12011. Including the two discovery holes
drilled during the 2011 field season, all holes completed to target depths at
the POW Zone intersected gold mineralization, with the zone open in all
directions.
Justin Gold Project location map, Yukon:
http://www.abenresources.com/i/maps/Justin_Location.jpg
Highlights include:
* Gold mineralizing events on the Justin property directly comprise an
intrusion-related gold system ("IRGS").
* All holes drilled to completion in the POW Zone thus far have successfully
intersected gold mineralization.
* Drill highlights include 60.0 metres of 1.19 g/t gold in hole JN11009, 46.4
metres of 1.49 g/t gold in hole JN12011 and 88.5 metres of 0.73 g/t gold in
hole JN12018.
* The POW Zone continues to exhibit strong continuity of mineralization and
remains open in all directions.
* The majority of the intrusive stock and its surrounding contact aureole at
the Justin Project have yet to be tested and remain high priority targets
for future exploration and drilling.
Cornell McDowell, P.Geo., V.P. of Exploration of 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 projects in
British Columbia's Golden Triangle, the Yukon and Saskatchewan.
For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company's
web site at www.abenresources.com.
Aben Resources has approx. 30.2 million shares issued and outstanding.
ABEN RESOURCES LTD.
"Jim Pettit"
____________________________
JAMES G. PETTIT
President
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)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.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aben Resources Ltd via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2017 - 18:27 Uhr
Sprache: Deutsch
News-ID 533528
Anzahl Zeichen: 11840
contact information:
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