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_Golde...le_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_Forre..._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...lights.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@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.
