Aben Provides Final Results from 2018 Drill Program at the Forrest Kerr Gold Project in BC and Provides Update on the Justin ...
December 13 2018 - 7:00AM
Aben Resources Ltd.
(TSX-V: ABN) (OTCQB:
ABNAF)
(Frankfurt:
E2L2) (“Aben” or “the Company”)
reports analytical results from the remaining holes of the 2018
drill program at the Company’s 100%-controlled 23,000-hectare
Forrest Kerr Gold Project. This series of holes (FK18-37à45)
focussed on areas immediately adjacent to known high-grade gold
horizons and sought to test for an extension of the mineralized
area identified at the North Boundary Zone. Results show broad
horizons of low-grade gold mineralization punctuated by
intermittent intercepts of moderate to high-grade
gold-silver-copper-zinc values (see table summary below). Drilling
to date has shown that mineralization extends several meters
outboard of high-grade precious metal intercepts in subordinate
shear structures and vein arrays within a main mineralized core
that measures 100m x 200m and remains open at depth.
View Forrest Kerr Drill Hole Cross
Sections:
https://www.abenresources.com/projects/photo-gallery/
The greater mineralized area at the Boundary
Zone measures 1.5 km x 4.0 km as defined by gold-silver-copper-zinc
values in soil, rock and drill core. The area features extensive
talus and vegetative cover which serve to conceal prospective
precious metal bearing structures with coincident gold in soil and
outcrop anomalies. Only a fraction of the prospective targets at
the Boundary Zone have been drill-tested to date. Oriented core
tooling was utilized for the final phase of the 2018 drill program
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 permitting delay
by 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. The Company maintains a
healthy treasury which will allow for an aggressive 2019
exploration program at Forrest Kerr without significant
dilution.
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.
Assay Results for Holes FK18-37à45:
Hole
ID |
From
(m) |
To
(m) |
Interval
(m) |
Au (g/t)
(averageover interval) |
FK18-37 |
76.00 |
108.00 |
32.00 |
0.12 |
including |
90.00 |
91.00 |
1.00 |
1.39 |
FK18-38 |
90.00 |
253.00 |
163.00 |
0.10 |
including |
116.00 |
117.00 |
1.00 |
2.00 |
FK18-39 |
119.00 |
316.00 |
197.00 |
0.23 |
including |
201.00 |
202.00 |
1.00 |
14.35 |
FK18-40 |
94.00 |
182.00 |
88.00 |
0.39 |
within |
94.00 |
266.00 |
172.00 |
0.22 |
including |
110.00 |
111.00 |
1.00 |
9.23 |
FK18-41 |
99.00 |
238.00 |
139.00 |
0.17 |
including |
113.00 |
131.00 |
18.00 |
0.66 |
including |
113.00 |
114.00 |
1.00 |
9.05 |
FK18-42 |
|
|
|
NSR |
FK18-43 |
|
|
|
NSR |
FK18-44 |
128.00 |
166.00 |
38.00 |
0.30 |
including |
137.00 |
138.00 |
1.00 |
3.51 |
FK18-45 |
200.00 |
252.00 |
52.00 |
0.26 |
including |
226.00 |
228.00 |
2.00 |
3.49 |
*Intervals are drilled intercepts and not true
widths NSR=no significant results
Golden Triangle, B.C., claims
map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
President and CEO Jim Pettit states, “This has
been a significant season for us in the Golden Triangle. We
had success early and managed to raise funds and we managed to
increase our 2018 drill program to almost 10,000 meters. Granted,
we did this with the understanding we would have our Multi Year
Area Based Permit in hand, but, because of the extreme fires this
summer, that was not to be. We did, however, manage to get a lot of
good work done this year and have a tremendous amount of data to
analyze to help get ready for next year. As mentioned above, only a
fraction of the prospective targets at the Boundary Zone have been
drill-tested to date. We also look forward to trenching and channel
sampling analytic results coming from the Justin Property in the
Yukon any time now and an initial winter drilling program on the
Chico Property in Saskatchewan possibly commencing the end of
February”.
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
Aben Resources has now received all of the
finalized analytical data from the field program completed in
September 2018 on their 100% owned Justin Gold Property in the
Yukon Territory. The geologic team reported 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. The new mineralization style is interpreted to be
orogenic-style quartz-gold veins that bear a strong resemblance to
and share similar geologic setting with Golden Predator’s adjacent
3-Aces Property. Previous exploration at Justin has successfully
discovered Intrusion related sheeted veins & vein breccias
along with gold bearing skarn mineralization. The new discovery at
Lost Ace highlights the existence of a multi-phase hydrothermal
system with the potential for overprinting mineralizing
systems.
Channel sampling at Lost Ace in 2017 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. Historic drill results from the POW
Zone, located 1.5 km southeast of the Lost Ace discovery, indicate
a potential for bulk tonnage gold with 46.6 meters grading 1.49 g/t
gold in JN12011 and 60.0 meters grading 1.19 g/t gold in JN11009.
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. $5.6 million in its
treasury and no debt.
ABEN RESOURCES LTD.
“Jim
Pettit” ____________________________JAMES G.
PETTITPresident & CEO
For further information contact myself or:Aben
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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