Aben Extends Mineralized Envelope around High-Grade Gold Discoveries at North Boundary on the Forrest Kerr Project in BC’s ...
November 19 2018 - 7:00AM
Aben Resources Ltd.
(TSX-V: ABN) (OTCQB: ABNAF)
(Frankfurt: E2L2) (the “Company”) reports further results from
the recently completed drill program at the Forrest Kerr Project.
Drilling has extended the mineralized envelope surrounding the 2017
and 2018 high-grade gold discoveries at North Boundary. This round
of focused drilling tested for the depth and lateral extension of
known mineralized shear and vein sets located in the North Boundary
Zone. Broad horizons of low to moderate grade gold mineralization
were encountered in several of the 15 drill holes (FK18-22 à36)
reported herein, while all drill holes encountered discrete
polymetallic vein hosted mineralization with gold values ranging
from trace amounts to 13 grams per tonne (g/t) over 1 meter.
Forrest Kerr Drill Hole Plan View
Map:https://abenresources.com/site/assets/files/4855/abn_fk_north_boundary_inset_drilling.jpg
President and CEO, Jim Pettit states: “The 2018
season has been a geologic and technical success in terms of what
we have accomplished this year. We started out with a 5000
meter drill program and expanded it to 10,000 meters after success
with the drill. We raised $5.2 million and an additional $1.7
million from the exercise of warrants. Logistically, we
adapted quickly and efficiently on the fly and actually
substantially reduced our overall cost of drilling per meter. We
have identified the Boundary Zone as a very large, robust
environment for gold mineralization and discovery. We have 9
more holes to report on from this season and we look forward to
compiling all the data available to us generated from this 2018
drilling program as well as new geochemical and geophysical
analysis. It is also important to note we have the funds in the
treasury for the 2019 exploration and drill
program.”
Analytical results indicate that a coherent zone
of vein-hosted mineralization extends up to 30 meters outward from
the high-grade Au reported in holes FK18-4,5,6 & 10 (see News
Releases Nov. 6, 2017 and Aug. 9, 2018). Results from this
area include 0.8 g/t Au over 11
meters (m) in hole FK18-32, 0.7 g/t Au
over 14 m in FK18-33, 1.2 g/t Au over 21
m in FK18-34, 0.8 g/t Au over 15 m in
FK18-35 and 0.46 g/t Au over 17 m in FK18-36
(chart below). The mineralization defined by these holes extends
for over 30 meters along strike and remains open in multiple
directions.
View Forrest Kerr Drill Hole Cross
Sections:https://www.abenresources.com/projects/photo-gallery/
Drilling to date has shown that mineralization
extends several meters outboard of the high-grade area within
subordinate shear structures and vein arrays. Oriented core tooling
was utilized for this phase of drilling in order to collect
structural data that will help determine the orientation of both
the main and subsidiary mineralized structures. The oriented core
data, combined with the surface mapping data and a growing
subsurface database at the Boundary Zone will assist greatly in
planning future targeted drill programs.
Aben Resources completed 9900 meters of NQ
drilling in 2018 on a low cost per meter basis. The number of
available drill locations was constrained due to a delay in
receiving an updated MX Permit from the British Columbia Provincial
Government in response to extreme forest fire activity in the area.
As a result the last phase of targeted drilling was completed from
only 3 pad locations with fan arrays from each set-up. Subsequent
to completion of the summer drill program Aben received the much
anticipated 5 year Multi-Year Area Based (MYAB) permit, which will
allow for more extensive drill programs going forward.
Mineralization at Boundary North 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.
Golden Triangle, B.C., claims
map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Hole ID |
|
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
FK 18-32 |
|
43.0 |
54.0 |
11.0 |
0.8 |
3.4 |
1923 |
|
|
|
|
|
|
|
|
FK 18-33 |
|
48.0 |
62.0 |
14.0 |
0.7 |
1.1 |
615 |
|
|
|
|
|
|
|
|
FK 18-34 |
|
46.0 |
67.0 |
21.0 |
1.2 |
0.9 |
704 |
|
incl |
46.0 |
57.0 |
11.0 |
2.2 |
1.4 |
717 |
|
|
|
|
|
|
|
|
FK 18-35 |
|
38.0 |
53.0 |
15.0 |
0.8 |
0.6 |
375 |
|
|
|
|
|
|
|
|
FK 18-36 |
|
47.0 |
64.0 |
17.0 |
0.5 |
0.6 |
858 |
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.
Update on the Justin Gold Project, Yukon Territory,
Canada
Aben Resources is currently finalizing
analytical results from field work completed in September 2018 on
its 100% owned Justin Gold Property in the Yukon Territory. The
geologic team reports visible gold in trenches and channel samples
from quartz stockwork veining in bedrock at the Lost Ace Zone, a
gold-bearing zone discovered in 2017. Channel sampling in 2017 at
Lost Ace returned 1.44 g/t Au over 5m including 4.77 g/t Au over
1.0 m in addition to a bulk soil sample that contained 1135 visible
gold grains, the majority of which were termed ‘pristine’
indicating a proximal bedrock source for the gold. Lost Ace is an
exciting new prospect on the Justin Property as it is located
within 2km of the main mineralized POW Zone and bears striking
similarities to Golden Predators adjacent 3 Ace
Property.
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 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
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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