Aben Resources Ltd. (TSX-V:ABN) (OTCQB:ABNAF) (Frankfurt:E2L2)
(the “Company”) is pleased to provide an update on its exploration
drill program currently underway at the Forrest Kerr Property in
BC’s Golden Triangle. The Company has intersected mineralization
1.5km south of the North Boundary Zone in a newly discovered area
called the South Boundary Zone. Aben has now completed 4,850 meters
of drilling in 16 holes at Forrest Kerr in 2018. The majority of
drilling has taken place at the North Boundary area where
high-grade precious and base metal mineralization was discovered in
2017 drill holes as well as in the first reported drill hole of
2018 (see news release dated August 9th, 2018). The ongoing drill
program has been expanded and will continue well into the Fall.
Golden Triangle, B.C., claims
map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Of the sixteen holes, three holes (1,150m) have
been completed on the southwest side of the valley at the “South
Boundary” target, located 1.5km south of the strong gold and copper
mineralization intersected at the North Boundary Zone. Drilling in
this area targeted a prominent soil geochemical anomaly (Au, Cu)
that trends southward over 2km. These three holes represent the
first ever drill-holes collared in this target and have intersected
numerous broad horizons of quartz-sulfide veins containing abundant
pyrite and copper (chalcopyrite) mineralization. The mineralized
veins are hosted within a package of Hazelton Group volcanic rock
that display moderate to strong silica-sericite alteration with a
variable chlorite and potassic alteration component. This
combination of sulfide mineralization and alteration has been
indicative toward the potential for associated precious metal
values throughout the 4km x 2km Boundary Zone. Assay results for
South Boundary and North Boundary drilling are pending and will be
reported once they have been received, compiled and interpreted.
The target at the South Boundary Zone is an area of interest due to
the elevated gold in rock and soil values that are coincident with
an historic electromagnetic (“EM”) conductive geophysical anomaly.
Aben is highly encouraged that the mineral potential of the Forrest
Kerr property has been greatly expanded through drilling at the
newly discovered South Boundary Zone.
Boundary Area Soil Geochemical
map:https://abenresources.com/site/assets/files/4855/abn_new_boundary_map.jpg
Jim Pettit, President and CEO of Aben Resources
stated, " This new discovery of mineralization 1.5km south of the
North Boundary Zone is a major development for the Company and
further highlights the robust discovery potential at the Forrest
Kerr Project. The mineralizing system at the property is apparently
widespread and well-developed with high-grade mineralization being
discovered at shallow depths over a large area. We believe we have
only just scratched the surface at the newly discovered North and
South Boundary Zones and an expanded drill program is currently
underway with assays pending for most of the holes drilled to
date."
First Drill Hole in 2018 Season
(FK18-10):
As previously reported in the August 9th, 2018
news release, the first drill hole of Aben’s 2018 drill season
intersected four separate high-grade zones. The best high-grade
interval consisted of 331.0 g/t Au over 1.0m, within a broad zone
averaging 38.7 g/t Au over 10.0m from 114.0-124.0m, including 62.4
g/t gold over 6.0m (true thicknesses undetermined). The other
intervals included: 22.01 g/t Au, 22.38 g/t Ag over 4.0m from 84.0
to 88.0m; 3.94 g/t Au, 3.99 g/t Ag over 13.0 m from 61.0 to 74.0m;
and 8.23 g/t Au, 1.43 g/t Ag over 6.0m between 183.0 to 189.0m.
Boundary North Plan View map:
https://abenresources.com/site/assets/files/4826/abn-boundary-north-plan-map-2018.jpg
FK18-10 (140/-45) was drilled from a location 35
meters northwest and along section from the drill pad from which
the discovery holes FK17-04, 05 and 06 were drilled last August.
The new hole has further defined and increased the zone of precious
and base metal mineralization that the 2017 holes originally
pierced. Of note, the high grade intercept of 331.0 g/t Au was
encountered 230 meters northward of a 326 g/t Au grade reported by
Noranda in 1991 in drillhole 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. Partial results have been received
for the second hole FK18-11 but will not be released until all
assays are in hand.
Boundary North Cross Section
map:
https://abenresources.com/site/assets/files/4826/abn-boundary-north-cross-section-aug-2018.jpg
Select results previously reported from the 2017
holes include 6.7 g/t Au, 6.4 g/t Ag and 0.9% Cu over 10.0 m
including 18.9 g/t Au, 16.6 g/t Ag and 2.2% Cu over 3.0 m in hole
FK17-04 which contributed to an average grade of 0.26 g/t Au over
387.0 m. Hole FK17-05 returned 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu
over 6.0 m from the same zone at a slightly greater depth.
The North Boundary area 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
mineralization. Based on results to date the scope of the project
has been expanded with additional funding to be directed to extend
the current drill program. 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.
*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 meter 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 developing 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 LTD.
“Jim
Pettit” ____________________________JAMES G.
PETTITPresident & CEO
For further information contact:Don MyersAben
Resources Ltd. Director, Corporate Communications Telephone:
604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email:
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.
Aben Resources (TSXV:ABN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Aben Resources (TSXV:ABN)
Historical Stock Chart
From Apr 2023 to Apr 2024