January 25, 2022 The TSX Venture Exchange has acc
Post# of 1088
(Total Views: 495)
Posted On: 01/27/2022 10:12:37 AM
January 25, 2022 The TSX Venture Exchange has accepted for filing documentation relating to an option agreement dated Nov. 9, 2021, between Aben Resources Ltd. and Eagle Plains Resources Ltd., pursuant to which Aben may earn up to a 100-per-cent interest in Eagle Plains' Slocan graphite project.
Pursuant to the agreement, Aben may acquire a 100-per-cent interest in the property by making certain cash payments and the issuance of common shares in the capital of Aben to Eagle Plains, as well as completing certain expenditures on the property as follows:
Within five days of receipt of final exchange approval of the option agreement:
Pay $30,000 cash
Issue 100,000 common shares of Aben
On or before Dec. 31, 2022:
Pay $25,000 cash,
Issue 150,000 common shares of Aben
Incur $250,000 in exploration expenditures
On or before Dec. 31, 2023:
Pay $35,000 cash
Issue 250,000 common shares of Aben
Incur $300,000 in exploration expenditures
Or before Dec. 31, 2024:
Pay $60,000 cash
Issue 350,000 common shares of Aben
Incur $450,000 in exploration expenditures.
Aben has granted Eagle Plains a 2-per-cent net production royalty on the Slocan graphite project with one-half of the royalty being subject to a buyback option for $1-million. Aben will also issue 500,000 common shares to Eagle plains as a success fee if at any time a resource in excess of 10 million tonnes is reported for the property.
Insider/pro group participation: Timothy Termuende is a director of Aben, and is the president and a director of Eagle Plains.
For further information, refer to the news releases dated Nov. 10, 2021, which are available under the companies' profiles on SEDAR.
https://sedar.com/GetFile.do?lang=EN&docC...Id=5077221
Source of Information:
https://abenresources.com/news/aben-resources...rest-kerr/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
In the Slocan Graphite option Aben needs to pay $150K cash, 850,000 shares to Eagle Plains and spend totally $1 million on exploration. That is a good deal.
Explanation for foregoing drilling in Forrest Kerr this year:
Excerpt: "Aben Resources will forego ground exploration activities at the Forrest Kerr Gold Property in Northwest B.C in 2022. The Forrest Kerr Property remains an important asset to Aben Resources and all geologic data collected through recent drill programs will continue to be analyzed and re-interpreted with the aim to conduct focused exploration programs in the future. The Forrest Kerr Property is fully permitted and in good standing through March 2024 "
The phenonmena of high grade gold in every hole drilled in the North Boundary zone, visible gold near the fault line, close proximity to Eskay Creek and same geology as Eskay Creek all are indication that there is a gold mine in the North Boundary zone similar to that in Eskay Creek, but right now finding it is like searching for a pin in a haystack. The geology in Forrest Kerr is just as complicated as that in Eskay Creek, since it took Stikine Resources 50 years to discover the bonanza gold deposit in Eskay Creek, certainly it will take more time for the Aben geologists to understand the intriguing geological structure in Forrest Kerr. I see why James Pettit foregoes exploration in Forrest Kerr in 2022: They have no potential drilling targets yet, as he said in one of the Ellis Martin Reports that if there are no specific drilling targets then ramdom drilling is a waste of money. He sees strong potential in Slocan Graphite in generating revenue, so upon the approval of the Stock Exchange in the Slocan Graphite option, he decides to explore the Slocan Graphite property and bring the graphite to production. The graphite market is growing exponentially along with lithium, even in a recession due to climate change issue. Production in Slocan Graphite can potentially generate $4 million annually, that will enhance shareholders value while sustaining the exploration in Forrest Kerr without the need for further financing, thus keeping the fully diluted share low to maximize future buyout per share value. Technically, by 2024 gold price will has hit $3000, that will enhance the value of Forrest Kerr project. If the geologists will finally solve the intriguing geological puzzle in Forrest Kerr and successfully drilling 27 g/t over 208 meters, then they will have drilled into a gold vein and Aben Resources could be sold for $67 per share just as Stikine Resources did. If that happens, James Pettit may be inducted into the Canadian Mining Hall of Fame for discovering a new gold mine.
An inspiration for the Aben geologists:
History of Eskay Creek mine, the world's massive high grade gold mine
In 1932 a prospector named Tom Mackay of Consolidated Stikine Resources was the first to recognize the area's unique geological setting after spotting an alluring rock outcrop from his single-engine bush plane. After staking the property he discovered a boulder broken free from its source higher up on the mountain, rolling several dozen meters downslope, assays from the boulder returned a spectacular five ounces of gold per tonne. Mackay explored the property for over 50 years but bonanza gold deposit was never found. In 1988 after investing in Consolidated Stikine Resources which held rights to Eskay Creek, geologist Ron Netolitzky became Stikine’s technical person and one of five controlling shareholders. He teamed up with Murray Pezim of Calpine Resources to raise $900,000 for a drill program and started exploring the area in the summer of 1990. After drilling 108 holes and with momentum building, they hit a fault. Chet Idziszek, Pezim’s geologist with a M.Sc. degree from McGill University observed gradually increasing gold grade and increasing interval length in the assays, he had an intuition that he must be very close to the main gold vein, he studied the maps and analysed the terrain then he ragged the drill rig to a spot 350 meters from the last hole drilled and drilled hole #109. Bingo, assays from hole 109 returned spectacular 27.2 g/t gold, 30.2 g/t silver over 208 meters (682 feet). In 1994 Eskay Creek went into production that lasted 14 years, finally ended in 2008. Eskay Creek had the highest grade gold on the planet and produced 3.3 million ounces of gold at a breathtaking 45 g/t Au, also 160 million ounces of silver at 2,224 g/t. Stikine Resources was acquired by Placer Dome and International Corona for $67 per share. Ron Netolitzky has had a very successful career in mining and mineral exploration with decades of experience and having been directly associated with three major mineral discoveries in Canada that have subsequently been put into production: Eskay Creek, Snip and Brewery Creek. Ron Netolitzky was inducted into the Canadian Mining Hall of Fame in 2014.
Pursuant to the agreement, Aben may acquire a 100-per-cent interest in the property by making certain cash payments and the issuance of common shares in the capital of Aben to Eagle Plains, as well as completing certain expenditures on the property as follows:
Within five days of receipt of final exchange approval of the option agreement:
Pay $30,000 cash
Issue 100,000 common shares of Aben
On or before Dec. 31, 2022:
Pay $25,000 cash,
Issue 150,000 common shares of Aben
Incur $250,000 in exploration expenditures
On or before Dec. 31, 2023:
Pay $35,000 cash
Issue 250,000 common shares of Aben
Incur $300,000 in exploration expenditures
Or before Dec. 31, 2024:
Pay $60,000 cash
Issue 350,000 common shares of Aben
Incur $450,000 in exploration expenditures.
Aben has granted Eagle Plains a 2-per-cent net production royalty on the Slocan graphite project with one-half of the royalty being subject to a buyback option for $1-million. Aben will also issue 500,000 common shares to Eagle plains as a success fee if at any time a resource in excess of 10 million tonnes is reported for the property.
Insider/pro group participation: Timothy Termuende is a director of Aben, and is the president and a director of Eagle Plains.
For further information, refer to the news releases dated Nov. 10, 2021, which are available under the companies' profiles on SEDAR.
https://sedar.com/GetFile.do?lang=EN&docC...Id=5077221
Source of Information:
https://abenresources.com/news/aben-resources...rest-kerr/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
In the Slocan Graphite option Aben needs to pay $150K cash, 850,000 shares to Eagle Plains and spend totally $1 million on exploration. That is a good deal.
Explanation for foregoing drilling in Forrest Kerr this year:
Excerpt: "Aben Resources will forego ground exploration activities at the Forrest Kerr Gold Property in Northwest B.C in 2022. The Forrest Kerr Property remains an important asset to Aben Resources and all geologic data collected through recent drill programs will continue to be analyzed and re-interpreted with the aim to conduct focused exploration programs in the future. The Forrest Kerr Property is fully permitted and in good standing through March 2024 "
The phenonmena of high grade gold in every hole drilled in the North Boundary zone, visible gold near the fault line, close proximity to Eskay Creek and same geology as Eskay Creek all are indication that there is a gold mine in the North Boundary zone similar to that in Eskay Creek, but right now finding it is like searching for a pin in a haystack. The geology in Forrest Kerr is just as complicated as that in Eskay Creek, since it took Stikine Resources 50 years to discover the bonanza gold deposit in Eskay Creek, certainly it will take more time for the Aben geologists to understand the intriguing geological structure in Forrest Kerr. I see why James Pettit foregoes exploration in Forrest Kerr in 2022: They have no potential drilling targets yet, as he said in one of the Ellis Martin Reports that if there are no specific drilling targets then ramdom drilling is a waste of money. He sees strong potential in Slocan Graphite in generating revenue, so upon the approval of the Stock Exchange in the Slocan Graphite option, he decides to explore the Slocan Graphite property and bring the graphite to production. The graphite market is growing exponentially along with lithium, even in a recession due to climate change issue. Production in Slocan Graphite can potentially generate $4 million annually, that will enhance shareholders value while sustaining the exploration in Forrest Kerr without the need for further financing, thus keeping the fully diluted share low to maximize future buyout per share value. Technically, by 2024 gold price will has hit $3000, that will enhance the value of Forrest Kerr project. If the geologists will finally solve the intriguing geological puzzle in Forrest Kerr and successfully drilling 27 g/t over 208 meters, then they will have drilled into a gold vein and Aben Resources could be sold for $67 per share just as Stikine Resources did. If that happens, James Pettit may be inducted into the Canadian Mining Hall of Fame for discovering a new gold mine.
An inspiration for the Aben geologists:
History of Eskay Creek mine, the world's massive high grade gold mine
In 1932 a prospector named Tom Mackay of Consolidated Stikine Resources was the first to recognize the area's unique geological setting after spotting an alluring rock outcrop from his single-engine bush plane. After staking the property he discovered a boulder broken free from its source higher up on the mountain, rolling several dozen meters downslope, assays from the boulder returned a spectacular five ounces of gold per tonne. Mackay explored the property for over 50 years but bonanza gold deposit was never found. In 1988 after investing in Consolidated Stikine Resources which held rights to Eskay Creek, geologist Ron Netolitzky became Stikine’s technical person and one of five controlling shareholders. He teamed up with Murray Pezim of Calpine Resources to raise $900,000 for a drill program and started exploring the area in the summer of 1990. After drilling 108 holes and with momentum building, they hit a fault. Chet Idziszek, Pezim’s geologist with a M.Sc. degree from McGill University observed gradually increasing gold grade and increasing interval length in the assays, he had an intuition that he must be very close to the main gold vein, he studied the maps and analysed the terrain then he ragged the drill rig to a spot 350 meters from the last hole drilled and drilled hole #109. Bingo, assays from hole 109 returned spectacular 27.2 g/t gold, 30.2 g/t silver over 208 meters (682 feet). In 1994 Eskay Creek went into production that lasted 14 years, finally ended in 2008. Eskay Creek had the highest grade gold on the planet and produced 3.3 million ounces of gold at a breathtaking 45 g/t Au, also 160 million ounces of silver at 2,224 g/t. Stikine Resources was acquired by Placer Dome and International Corona for $67 per share. Ron Netolitzky has had a very successful career in mining and mineral exploration with decades of experience and having been directly associated with three major mineral discoveries in Canada that have subsequently been put into production: Eskay Creek, Snip and Brewery Creek. Ron Netolitzky was inducted into the Canadian Mining Hall of Fame in 2014.
(0)
(0)Aben Minerals Ltd. (ABNAF) Stock Research Links
Scroll down for more posts ▼