Aben Resources Ltd Commences 2021 Reconnaissance and Field Work at the Forrest Kerr Project and Closes Financing
August 11 2021 - 7:00AM
Aben Resources Ltd.
(TSX-V: ABN) (OTCQB:
ABNAF)
(Frankfurt:
E2L2) (“Aben” or “the Company”)
is pleased to announce that it has initiated a reconnaissance and
field work program at its 100% owned Forrest Kerr Project in BC’s
Golden Triangle. The 2021 program will consist of additional
mapping and sampling in specifically identified areas of the
property that have had limited coverage to date and in areas of
interest as the property’s extensive data base dictates. This
program is designed to generate additional drill targets and to
further the understanding of the geologic processes that have taken
place and are the cause of the gold emplacement in the North and
South Boundary Valley of the Forrest Kerr Property.
The areas of interest this year will be to the
North and South of the Boundary zones. Minimal exploration has been
conducted in the 3.5km-long Boundary-Marcasite corridor to the
north of the North Boundary High-grade Zone despite the presence of
high-grade precious metal values on surface. And to the south, very
limited surface work has been conducted south of the South Boundary
mineralized corridor, although discovery potential is high as this
area overlies the regional-scale Forrest Kerr Fault Zone and other
associated structures.
Flow-Through Financing
Further, the Company has closed a non-brokered
private placement financing for total gross proceeds of CAD
$175,000 (the “Placement”).
The Company has allotted and issued 2,500,000
flow-through units (the “FT Units”) at a price of CAD $0.07 per FT
Unit. Each FT Unit is comprised of one flow-through common share
and one-half of one transferable warrant. Each whole warrant will
entitle the holder to purchase one non-flow through common share
for a period of two (2) years at a price of CAD $0.10 per
share.
The Company intends to use the proceeds from the
Placement towards exploration on its Forrest Kerr Gold Project,
British Columbia. All securities issued under the Placement will be
subject to a four-month and one-day hold period expiring December
12, 2021. The Placement remains subject to the final approval of
the TSX Venture Exchange.
About Aben Resources:
Aben Resources is a Canadian gold exploration
company developing gold-focused projects in British Columbia and
the Yukon Territory. Aben is a well-funded junior exploration
company.
Forrest Kerr Gold Project, Golden
Triangle, BC claims
map:https://abenresources.com/site/assets/files/4087/abn_forrest_kerr_project_map.pdf
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:Aben Resources Ltd.Telephone:
604-416-2978Toll 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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