Update on Pringle North gold project, Red Lake, On
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Posted On: 03/31/2022 11:06:59 AM
Update on Pringle North gold project, Red Lake, Ontario
The Pringle North Property consists of 5 contiguous mining claims covering approximately 1,881 hectares (18.81 square km, approximately 4.3 km x 4.3 km), and is located 55 kilometers north of the prolific Red Lake Gold Camp. The Property sits within the ‘Red Lake Northern Extension’ corridor, an area that saw a marked increase in exploration activity in 2021. The Pringle North Property has had very limited ground exploration so the planned field exploration program in the Spring of 2022 will be an exciting advancement for the Company. The Red Lake Mining Complex is located within the Red Lake greenstone belt of the Superior Tectonic Province. This belt is host to one of Canada’s largest and richest Archean gold deposits producing more than 26 million ounces of gold since the 1930s. The Red Lake Greenstone Belt is subdivided into several rock assemblages recording magmatic and sedimentary activities that occurred from 3.0 to 2.7 billion years ago. In July, 2021 Aben Resources signed an agreement whereby they can earn-in an 100% right, title and interest in and to the Property by paying to the Optionors a total of $97,000 and issuing to the Optionors a total of 320,000 common shares. The Optionors shall retain a 1.5% Net Smelter Returns Royalty, of which the Company may purchase 0.5% at any time for $600,000.
https://abenresources.com/site/assets/files/4...22_map.jpg
Aben geologic personnel have been compiling and interpreting geophysical and geologic data from several sources from across the Red Lake Gold Belt, including the finalized results from a high-resolution airborne magnetic survey completed over the Pringle North Property in the Fall of 2021. The magnetic geophysical maps illustrate several apparent convergent structural breaks and extensional features that are common to all gold deposits in the Belt. The structural complexity illustrated by the magnetic survey offers strong evidence of wide-spread shearing, folding and faulting, structural controls that can provide fluid pathways and traps for gold mineralizing fluids in potentially economic concentrations.
https://abenresources.com/site/assets/files/4...-_2022.jpg
In addition to the full spectrum of structural controls present on the Property, Pringle North is host to several surface samples that tested at or above the 95th percentile from an overburden sampling program by Agnico Eagle in 2009. A substantial belt of mafic to ultramafic rocks that parallel the Nungesser Deformation Zone (NDZ) have been mapped on the property. Age determination by Sanborn et al, 2004, dates this volcanic-sedimentary belt at 2.94 billion years old and assigns it to the Balmer Assemblage, which is host to the gold mines in the Red Lake
Camp.
https://abenresources.com/site/assets/files/4...22_map.jpg
The Pringle North Property consists of 5 contiguous mining claims covering approximately 1,881 hectares (18.81 square km, approximately 4.3 km x 4.3 km), and is located 55 kilometers north of the prolific Red Lake Gold Camp. The Property sits within the ‘Red Lake Northern Extension’ corridor, an area that saw a marked increase in exploration activity in 2021. The Pringle North Property has had very limited ground exploration so the planned field exploration program in the Spring of 2022 will be an exciting advancement for the Company. The Red Lake Mining Complex is located within the Red Lake greenstone belt of the Superior Tectonic Province. This belt is host to one of Canada’s largest and richest Archean gold deposits producing more than 26 million ounces of gold since the 1930s. The Red Lake Greenstone Belt is subdivided into several rock assemblages recording magmatic and sedimentary activities that occurred from 3.0 to 2.7 billion years ago. In July, 2021 Aben Resources signed an agreement whereby they can earn-in an 100% right, title and interest in and to the Property by paying to the Optionors a total of $97,000 and issuing to the Optionors a total of 320,000 common shares. The Optionors shall retain a 1.5% Net Smelter Returns Royalty, of which the Company may purchase 0.5% at any time for $600,000.
https://abenresources.com/site/assets/files/4...22_map.jpg
Aben geologic personnel have been compiling and interpreting geophysical and geologic data from several sources from across the Red Lake Gold Belt, including the finalized results from a high-resolution airborne magnetic survey completed over the Pringle North Property in the Fall of 2021. The magnetic geophysical maps illustrate several apparent convergent structural breaks and extensional features that are common to all gold deposits in the Belt. The structural complexity illustrated by the magnetic survey offers strong evidence of wide-spread shearing, folding and faulting, structural controls that can provide fluid pathways and traps for gold mineralizing fluids in potentially economic concentrations.
https://abenresources.com/site/assets/files/4...-_2022.jpg
In addition to the full spectrum of structural controls present on the Property, Pringle North is host to several surface samples that tested at or above the 95th percentile from an overburden sampling program by Agnico Eagle in 2009. A substantial belt of mafic to ultramafic rocks that parallel the Nungesser Deformation Zone (NDZ) have been mapped on the property. Age determination by Sanborn et al, 2004, dates this volcanic-sedimentary belt at 2.94 billion years old and assigns it to the Balmer Assemblage, which is host to the gold mines in the Red Lake
Camp.
https://abenresources.com/site/assets/files/4...22_map.jpg
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