Aben Commences Diamond Drill Program at its Forrest Kerr Gold Project in BC's Golden Triangle Region
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Aug. 03, 2017 (GLOBE NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the "Company") is pleased to
announce it has commenced its summer diamond drilling program at its 23,000
hectare Forrest Kerr Gold Property located in North Western British Columbia's
Golden Triangle region. The Company intends to drill 2,100 meters (6,800 feet)
with initial drill holes testing the Carcass Creek and Boundary Zones to confirm
and extend the high grade gold mineralization discovered in historical drilling.
Drilling conducted in the early 1990's and 2000's at these zones returned some
of the highest 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, structural geological interpretation and additional field
reconnaissance work. 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 large property area.
Golden Triangle Claims Map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Historical drilling results at the Forrest Kerr Project have ranged from trace
values to several high-grade intercepts such as 9.97 g/t gold over 29.3 metres,
including 125 g/t Au over 0.8 metres and 91 g/t Au over 1.9 metres, in hole
RG91-21 in the Carcass Creek Zone as well as 33.4 g/t gold over 11 metres,
including 326 g/t over 0.5 metres, in hole RG91-16 in the Boundary Zone. This
high grade mineralization is within 200 metres vertical depth from surface and
the Carcass and Boundary Zones are approx. 4 kilometres apart leaving robust
discovery potential along strike, at depth and at other regional targets on the
property.
Aben's Forrest Kerr Project Map:
http://www.abenresources.com/i/maps/FK-007.jpg
Field based exploration activities have been underway earlier this season at
Forrest Kerr where crews completed soil geochemical sampling, ground-truthed
historical data and evaluated mineralization potential on a property-wide basis.
Focus was placed on those areas containing historical high-grade precious and
base-metal occurrences. There are also more conceptual targets to be tested
south of the Boundary Zone where there are areas of outcrop with multiple shear
zones and abundant sulfides with surface samples returning gold grades ranging
from trace values to 3 - 5 g/t Au.
Jim Pettit, President and CEO of Aben, states: "The commencement of this first-
pass drill program at our Forrest Kerr project in the prolific Golden Triangle
is a milestone for the Company. Recent drill discoveries by Pretium, GT Gold,
Colorado Resources and others illustrate the significant discovery upside
remaining in the district and we are confident in the potential at Forrest Kerr
given the known high-grade gold mineralization present there which we plan to
test early in the drill program. Despite excellent drill results including 10
g/t Au over 29 metres and 33 g/t Au over 11 metres, these historical drill holes
at the Carcass and Boundary Zones were drilled decades ago with limited follow
up work due to limited accessibility, high drilling costs, and a less
comprehensive understanding of the geology. Since then, major infrastructure
improvements have been made including the Galore Creek access road on the north
end of the property as well as roads and powerlines on the south end of the
property where hydroelectric facilities have been built in recent years which
have helped bring the drilling costs down. In addition, rapid glacial retreats
over the past 25 years have exposed extensive new areas of outcrop exposure in
this highly prospective region. Lastly, Aben's technical team has spent over a
year analyzing and reinterpreting the historical exploration and geological data
with the help of structural geologists and we feel we have a stronger
understanding of the existing targets and high-grade gold mineralization at the
project."
Tim J. Termuende, P.Geo., a Director of Aben, commented: "Since first working in
the Forrest Kerr area in 1990 as a young geologist, I have been continually
impressed with the abundance of mineralization within the Golden Triangle. The
project is located along the Forrest Kerr Fault which consists of a 40 km long
north-south belt overlying rocks of the Hazelton and Stuhini Groups, a complex
assemblage of volcanic accumulations with intervening sedimentary sequences
which are host to significant gold deposits in the Golden Triangle region."
*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. In addition, management cautions that past results or discoveries
on proximate land are not necessarily indicative of the results that may be
achieved on the Forrest Kerr property.
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. The Company
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 Forrest Kerr property area.
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
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
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: 03.08.2017 - 09:05 Uhr
Sprache: Deutsch
News-ID 555165
Anzahl Zeichen: 8997
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Aben Commences Diamond Drill Program at its Forrest Kerr Gold Project in BC's Golden Triangle Region"
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