Aben’s First Drill Hole Discovers Multiple High-Grade Zones Including 62.4 g/t Gold over 6.0m within 38.7 g/t Gold over 10....
August 09 2018 - 02:01AM
Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2) (the “Company”) is pleased to report that
assay results from the first drill hole of 2018 have been received
with multiple high-grade zones and precious metal values
intersected in the hole at shallow depths. Drill hole FK18-10 was
collared in the North Boundary Zone of the Forrest Kerr Property in
BC’s Golden Triangle region where drilling late in the season in
2017 discovered strong precious and base metal mineralization. Hole
FK18-10, the first of eight holes that have been drilled thus far,
has four separate high-grade zones with the best zone returning and
interval of 38.7 g/t Au over 10.0m including 62.4 g/t Au over 6.0m
starting at 114 metres downhole.
Golden Triangle, B.C., claims
map:
https://www.abenresources.com/site/assets/files/4728/abn_golden_triangle_map_1.1024x0.jpg
Highlights:
- Four separate high-grade zones intersected in first drill hole
FK18-10 all within 190 metres downhole at recently discovered North
Boundary Zone
- Highest-grade zone consists of 331.0 g/t (grams/tonne)
gold (Au) (9.65 oz/t) over 1.0 metre (m) within broad zone
averaging 38.7 g/t Au (1.12 oz/t) over 10.0m from
114.0-124.0m including 62.4 g/t Au over 6.0m (true
thicknesses undetermined)
- Additional high-grade zones in Hole FK18-10 include
22.0 g/t Au, 22.4 g/t silver (Ag)
over 4.0m; 3.9 g/t Au, 4.0 g/t Ag over
13.0m; and 8.2 g/t
Au, 1.4 g/t Ag over 6.0m (see
table below for intervals in more detail)
- This new discovery is part of the Boundary North Zone
and is 230m north of the historic high-grade drill hole drilled by
Noranda in 1991
- Plans to expand the drill program are being put in place and
assays are pending for seven more drill holes
Jim Pettit, President and CEO of Aben Resources
stated, “The high-grade gold and base metal values in the first
hole of the 2018 drill program have far exceeded our expectations
and confirm the presence of a robust and strong mineralizing system
at the recently discovered North Boundary Zone. We are now looking
at an area that extends 230m south to the historic high-grade
Noranda drill hole from 1991 and although the geology is complex we
believe more drilling will delineate additional high-grade
mineralization. The target areas in and around the Boundary Zone
are relatively shallow and continue to provide strong discovery
potential as we look to value-add the project using a systematic
exploration methodology. With drilling ongoing, the Company is
awaiting assay results from an additional seven drill holes, all of
which were drilled at the North Boundary Zone and will provide
updates as results become available. I would like to congratulate
our geological team on their work thus far as we have made a
significant discovery in the Golden Triangle region that is still
in its early days with drilling slated to ramp up over the coming
months."
Ron Netolitzky, Chairman of Aben Resources,
stated: “The presence of multiple mineralized zones associated with
mesothermal veining and adjacent to major structural breaks is very
encouraging. Close proximity to infrastructure will facilitate
ongoing exploration.”
Overview of Drill Hole FK18-10 and
Geological Description:
Hole FK18-10 (140/-45) was drilled from a
location 35 metres northwest and along section from the drill pad
from which the discovery holes FK17-04, 05 and 06 were drilled late
in the drill season last year in August/September. The new hole has
further defined and significantly increased the zone of precious
and base metal mineralization that the 2017 holes originally
intersected. Of particular note, the high-grade interval of 331.0
g/t Au was encountered 230 metres north of a 326 g/t Au interval
reported by Noranda in 1991 in drill hole RG91-16 (see attached
plan map). High-grade intercepts are generally found in narrow and
discrete zones of moderate mineralization within a broad envelope
of lower grade mineralization. Mineralization at North Boundary
reflects the poly-metallic nature of the core with widely variable
values of Au, Ag, Cu, Pb and Zn throughout.
Boundary North Plan View
map:https://abenresources.com/site/assets/files/4826/abn-boundary-north-plan-map-2018.jpg
With drilling currently ongoing, final
geochemical assays results for seven completed holes are still
pending and the Company will look to expand the scope of the
program given the results from the first hole and visual indicators
in the other holes. This recently discovered North Boundary Zone
shows very little outcrop exposure and contains complex geology
which is disrupted by a series of faults of unknown orientation.
Additional drilling is required to determine true thicknesses and
establish controls to the mineralization Previously
reported and select results from the few 2017 drill holes at North
Boundary include 6.7 g/t Au, 6.4 g/t Ag and 0.9% Cu over 10.0m
including 18.9 g/t Au, 16.6 g/t Ag and 2.2% Cu over 3.0m in hole
FK17-04 which contributed to an average grade of 0.26 g/t Au over
387.0m. Hole FK17-05 returned 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu
over 6.0m from the same zone at a slightly greater depth.
Boundary North Cross Section
map:https://abenresources.com/site/assets/files/4826/abn-boundary-north-cross-section-aug-2018.jpg
Mineralization at North Boundary is structurally
controlled and hosted in a package of volcanic and volcaniclastic
rocks from the Jurassic Hazelton Group. Several generations of
quartz and quartz-carbonate veining are important hosts to
mineralization, as are subordinate breccia zones with strong
chlorite, hematite and carbonate alteration. The Boundary Zone lies
between the Forrest Kerr Fault to the west, a major deep-seated
crustal feature, and the unconformable contact between the Jurassic
Hazelton Group and the Triassic Stuhini Group to the East. The rock
reflects a prolonged history of strong hydrothermal activity
combined with brittle deformation. The host package Hazelton is
known to be a prolific host to several deposits throughout the
region.
Table 1: Geochemical Assay Results from
Hole FK18-10:
|
Hole ID |
|
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
|
|
FK18-10 |
|
61.0 |
74.0 |
13.0 |
3.9 |
4.0 |
6184 |
|
|
|
incl |
64.0 |
65.0 |
1.0 |
4.6 |
6.8 |
12000 |
|
|
|
incl |
65.0 |
66.0 |
1.0 |
38.4 |
35.6 |
57800 |
|
|
FK18-10 |
|
84.0 |
88.0 |
4.0 |
22.0 |
22.4 |
1667 |
|
|
|
incl |
85.0 |
86.0 |
1.0 |
87.3 |
84.4 |
4490 |
|
|
FK18-10 |
|
114.0 |
124.0 |
10.0 |
38.7 |
2.9 |
916 |
|
|
|
incl |
114.0 |
120.0 |
6.0 |
62.4 |
4.3 |
813 |
|
|
|
incl |
118.0 |
119.0 |
1.0 |
331.0 |
21.5 |
1040 |
|
|
FK18-10 |
|
183.0 |
189.0 |
6.0 |
8.2 |
1.4 |
1066 |
|
|
|
incl |
185.0 |
186.0 |
1.0 |
48.4 |
5.5 |
3900 |
|
|
*
all assay values are uncut and intervals reflect drilled
intercepts |
|
|
|
|
true thicknesses and orientations of the various zones is
currently not known |
|
|
|
|
|
|
|
|
|
|
|
|
|
Analytical and QA/QC
Description:
All 1 or 2 metre drill core samples were
delivered to ALS Global prep facility in Terrace, British Columbia
where they were crushed until 70% passed a 2mm sieve, then a 250g
split was pulverized until better than 85% passed a 75 micron
screen. Gold was tested via fire assay method Au-ICP21 with all
ore-grade samples (>10 g/t) undergoing fire assay with
gravimetric finish. ALS performed multi-element ICP-AES package
ME-ICP41 in their Vancouver facility to test for 35 other elements.
In addition to the quality assurance and quality control program
performed by ALS, Aben personnel insert lab certified standards,
field blanks and duplicates into the sample stream at the rate of
one QA/QC sample in every 10 samples.
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 advancing projects in British Columbia’s Golden Triangle,
the Yukon and Saskatchewan. The Company is actively exploring its
flagship and high-grade Forrest Kerr Project located in the Golden
Triangle region where recent drilling has discovered strong
precious and base metal mineralization at the North Boundary
Zone.
For further information on Aben Resources Ltd.
(TSX-V: ABN), visit our Company’s web site at
www.abenresources.com.
Aben Resources has approx. 81.5 million shares
issued and outstanding.
ABEN RESOURCES LTD.
“Jim
Pettit” ____________________________JAMES G.
PETTITPresident & CEO
For further information contact myself or:Don
MyersAben Resources Ltd. Director, Corporate
CommunicationsTelephone: 604-687-3376Toll Free:
800-567-8181Facsimile: 604-687-3119Email:
info@abenresources.com
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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.
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