Aben Resources to Begin Forrest Kerr Drill Program in BC's Golden Triangle Region
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, July 26, 2017 (GLOBE NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the "Company") is pleased to
announce plans for the upcoming summer drill program at its Forrest Kerr Gold
Property located in North Western British Columbia's Golden Triangle region.
The Company is planning a 2100 metre (6,800') diamond drill program commencing
in the first week of August. Field-based exploration activities have been
underway earlier this season at Forrest Kerr, where crews completed soil
geochemical sampling, ground-truthed historic data and evaluated mineralization
potential on a property-wide basis. Focus was placed on those areas containing
historic high-grade precious- and base-metal occurrences. Aben currently owns
certain mineral tenures outright and has agreements in place with various third-
parties whereby it has the exclusive right to a 100% interest in the 23,000
hectare property area.
Golden Triangle, B.C., claims map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Project high-lights:
* 2100 metre drill program to commence in early August.
* Expanding on high-grade Carcass Creek Zone and Boundary Zone results.
* Testing of conceptual targets for precious- and base-metal potential.
* Potential to expand program.
Drilling will aim to extend known mineralized high-grade horizons located in the
Carcass Creek and Boundary Zones. These zones reported some of the best grades
on the Forrest Kerr Property and the Company feels there is the potential for
the expansion of these known zones based on recent data compilation and field
reconnaissance work. There are also some more conceptual targets to be tested
south of the Boundary Zone. These entail areas of outcrop with multiple shear
zones and abundant sulfides. There is also significant surface sampling
associated to this reporting gold grades in the order of 3 - 5 g/t.
Historic drilling at the Forrest Kerr Project ranged from trace values to
several high grade intercepts such as an average of 9.97 g/t gold over 29 metres
(including 125 g/t gold over 0.8m and 91 g/t gold over 1.9m) in the Carcass
Creek Zone and 33.4 g/t gold over 11 metres in the Boundary Zone (including 326
g/t gold over 0.5m).
*Note: 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.
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.
In other news, the Company has made these corrections to its recently closed
private placement financings announced July 5(th).
The Company has issued 5,815,000 Units at a price of $0.10 per Unit for gross
proceeds of $581,500. Pursuant to the Offering, Aben has also issued 6,540,000
flow-through Units at a price of $0.125 per flow-through Unit for gross proceeds
of $817,500. In connection with part of this Offering, the Company paid $67,655
in cash finder's fees and issued 568,400 finder's warrants ("Finder's Warrants")
to qualified arm's length finders.
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. 46.8 million shares issued and outstanding.
ABEN RESOURCES LTD.
"Jim Pettit"
____________________________
JAMES G. PETTIT
President & CEO
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.
For further information contact:
Aben Resources Ltd.
Director, Investor Relations
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)abenresources.com
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: 26.07.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 553987
Anzahl Zeichen: 6380
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Aben Resources to Begin Forrest Kerr Drill Program in BC's Golden Triangle Region"
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