Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2) (the “Company”) provides further analytical
results from the 2018 exploration drill program at the Forrest Kerr
Property. Three holes totalling 1,153 meters have been completed in
the newly discovered South Boundary Zone 1.5 km south of the strong
precious metal mineralization delineated at the North Boundary
Zone. These holes represent the first ever drill holes collared in
this target area and have intersected numerous broad horizons of
mineralized veins containing abundant pyrite and variable amounts
of chalcopyrite. Discovery hole FK18-21 intersected 379.2 meters of
0.10 grams/tonne (g/t) Au starting at a depth of 4.8m including
89.0m of 0.24 g/t Au and 9.0m of 0.95 g/t Au. Gold values in all
three holes range from trace amounts to greater than 5 g/t in the
1- or 2-meter sample intervals (silver values range from trace to
8.7 g/t and copper values range from trace to 9500 ppm). Aben
management is extremely encouraged that this first-pass drilling
has intercepted broad zones of pervasive alteration
(silica-sericite-pyrite-chlorite-potassic) with abundant
quartz-sulfide veins and mineralized breccia zones indicating a
strong and widespread mineralizing event.
Golden Triangle, B.C., Claims
Map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
The three holes at South Boundary were collared
on the periphery of a large gold-in-soil anomaly that is coincident
with high gold-in-rock values and adjacent to an electro-magnetic
(“EM”) geophysical conductivity anomaly identified in the mid
1990’s (drill hole summary below). Only a very small portion of the
anomalies have been tested with the current drill holes so the
potential for further discovery of precious metal mineralization
remains high and open in all directions. A 355-line km airborne
magnetic survey was recently completed over the entire Boundary
Zone with interpreted results expected soon. Aben anticipates that
the large amount of drill hole, surface and geophysical data
collected in the last two years coupled with a significant database
of historic information will greatly assist in targeting expanded
mineralization with future drilling.
Forrest Kerr South Boundary
Anomalies:https://abenresources.com/site/assets/files/4855/southboundaryanomalies.jpg
Aben has now completed 9,900 meters of drilling
in 36 holes at Forrest Kerr in 2018. The majority of drilling has
taken place at the North Boundary Zone area where high-grade
precious metal mineralization was discovered in 2017 and
subsequently confirmed in 2018. There are 24 drill holes still to
report on, all in the North boundary Zone.
Aben’s President and CEO, Jim Pettit, stated:
“Discovering this new zone of mineralization over 1.5 km from the
known high-grade gold mineralization at the North Boundary Zone is
a significant development for the Company and illustrates the
robust discovery potential over the relatively untested 4km by 2km
soil geochem anomaly. There is a distinct presence of a very strong
and broad mineralizing event that needs to be followed up with more
drilling. There has never been any drilling in the South Boundary
Zone area and on the west side of the valley oriented toward the
Kerr Fault, so this has truly opened up a whole new area for future
exploration. As for upcoming news flow, Aben still has 24 drill
holes from the North Boundary Zone which were drilled using
oriented core drilling and were follow up holes to the first hole
announced this season which intersected 62.4 g/t Gold over
6.0m.”
Boundary Area Soil Geochemical
Map:
https://abenresources.com/site/assets/files/4855/abn_new_boundary_map.jpg
Mineralization at the Boundary Zones 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
Zones lie 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 Golden Triangle region.
Drill Hole Summary:
FK18-19 (400186 E 6309773 N, 280
azimuth/-45 dip)
Collar location 250 meters NE and 70 meters
lower in elevation than FK18-20 & 21. Top of hole drilled
through strongly altered mixed volcanic tuff units. Mineralization
was encountered downhole in weakly brecciated rock with moderate to
strong quartz-chlorite-sulfide fracture filling. Mineralization in
this hole correlates well with FK18-20 & 21 and with historic
EM conductivity anomaly.
Forrest Kerr South Boundary Hole FK18-19
Cross
Section:https://abenresources.com/site/assets/files/4855/fk18-19_south_boundary2.jpg
FK18-20 (400012 E 6309604 N, 270
azimuth/-50 dip)
Mineralization found within mixed ash and
crystal tuff units that displayed pervasive quartz-sericite +/-
chlorite alteration with silica flooded horizons. Potassic
alteration (K-feldspar component to veins) common in fractured
areas containing elevated mineralization.
FK18-21 (400012 E 6309604 N, 270
azimuth/-60 dip)
Multiple mineralized horizons correspond to
areas with stronger silica alteration and chlorite-hematite
component in fractured zones shows relationship between
mineralization and parallel structures to the Forrest Kerr Fault
that spans the Boundary Zone and beyond.
Forrest Kerr South Boundary Holes FK18-20
& 21 Cross
Section:https://abenresources.com/site/assets/files/4855/fk18-20_21_southboundary.jpg
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.
For further information on Aben Resources Ltd.
(TSX-V: ABN), visit our Company’s web site at
www.abenresources.com.
Aben Resources has approx. 110.4 million shares
issued and outstanding.
ABEN RESOURCES LTD.
“Jim
Pettit”____________________________JAMES G.
PETTITPresident & CEO
For further information contact myself or:Don
Myers, Director, Corporate CommunicationsAben Resources Ltd.
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.
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