VANCOUVER, British Columbia, July
18, 2016 (GLOBE NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the
"Company") is pleased to announce, further to its news release on
July 06th, the TSX Venture Exchange has accepted for filing three
agreements with third-parties whereby the Company will acquire a
100% interest in the 23,000 hectare Forrest Kerr Gold Project
within B.C.'s "Golden Triangle" region north of Stewart, B.C.
The Golden Triangle is host to significant mineral deposits
including Galore Creek, Copper Canyon, Schaft Creek, Valley of the
Kings, Snowfield, KSM, Snip, Granduc, Red-Chris and numerous
others.
See Forrest Kerr project, Golden
Triangle area map:
http://www.abenresources.com/i/maps/ABN_Forrest_Kerr_Project_map_small.jpg
Aben's Forrest Kerr land package
is located along the Forrest Kerr Fault, immediately north of the
Iskut River and southward of More Creek, with recent road access
afforded to the northern and southern limits of the property. The
claims consist of a 40km-long north-south belt overlying rocks of
the Hazelton and Stuhini Groups, a complex assemblage of volcanic
accumulations with intervening sedimentary sequences which are host
to significant gold deposits in the Golden Triangle area.
Historical drilling and field work
done through the project area in the past hosts numerous high-grade
gold, silver, and base metal mineral showings as well as past drill
results.
High-lights include:
- RDN drill-hole RG91-16, at the Boundary Zone,
returned 10.2 g/t gold over 17m (including 359.7 g/t gold over
0.45m) and RG91-21 which returned 101.0 g/t Au over 1.95m and 137.8
g/t Au over 0.85m (true width unknown). Many of these intercepts,
interpreted to be possible feeder zones to a precious metal VMS
system, are yet to be followed up.
- 1990 drilling at the Triple Creek Zone to the
south returned up to 39.7m grading 1.78 g/t Au (including 2.0m
grading 5.9 g/t Au, 190.0 g/t Ag and 12.4% Cu).
- Notable sample occurrences include: Jungle (25.5
g/t float); For (15.85% Cu in narrow veins; Forgold (30.5 g/tAu and
15.85% Cu in narrow veins); Falls (22.11 g/t Au, .32% Cu-grab);
Marmot Heights (45.57 g/t Au-grab).
Aben has not
been able to independently verify the methodology and results from
historical work programs within the property boundaries. However,
management believes that the historical work programs have been
conducted in a professional manner and the quality of data and
information produced from them are relevant.
2016 Forrest
Kerr Exploration Activity
Aben intends to immediately
initiate a comprehensive data compilation, bringing all historical
work into a single GIS database. This work will be followed by
fieldwork aimed at determining drill targets for a possible fall
2016 drilling campaign. Permitting for the drilling activity is
currently underway.
Forrest Kerr
Area History
Interest in the Golden Triangle
region of British Columbia dates back to 1861 when placer gold was
discovered at the confluence of the Stikine and Anuk rivers
sparking the Stikine Gold Rush. Large-scale lode mining first took
place at the Premier Mine located north of Stewart in 1918. In
1964, Cominco discovered the Snip deposit, which commenced
operation in 1991, ultimately producing over 1.1 million ounces at
an average grade of 27.5 g/t. Eskay Creek was discovered in 1988
and ultimately produced in excess of 3 million ounces of gold and
160 million ounces of silver, in addition to appreciable lead and
zinc. Pretivm Resources in June 2014 announced updated Proven and
Probable Mineral Reserves at Valley of the Kings containing 6.9
million ounces of gold from 13.5 Mt ore grading 15.7 g/t gold, with
commercial production scheduled for 2017. Management cautions that
past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the subject
properties.
Systematic exploration within
regions of the Forrest Kerr project area commenced in the mid-1980s
and saw continuous exploration programs from 1988 to 2005. Little
work has been completed from 2005-2016. Early work in the project
area was focussed on exploration for Eskay-type (VMS) deposits,
though the more recent discovery of structurally-related high-grade
gold mineralization at Valley of the Kings underscores the variety
of exploration targets available to Aben.
Since the completion of
significant exploration activity in the early 2000s, the area has
seen major infrastructure improvements including roads associated
with the construction of the Forrest Kerr and McLymont Creek
hydro-electric facilities near the southern boundary of the
property and the construction of the 287KV Northwest Transmission
Line. Development of the Galore Creek Project has also provided
road access to the northern reaches of the Forrest Kerr Project,
which provide greatly improved access in addition to new exposures
made by road-cuts.
Tim J. Termuende, Director 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, the
Yukon and North West Territories.
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. PETTIT
President
For further information contact
myself or:
Don Myers
Aben Resources Ltd.
Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: 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.