YASTEST
VANCOUVER, British Columbia, Sept.
19, 2017 (GLOBE NEWSWIRE) -- Aben
Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF)
(Frankfurt:E2L2) (the "Company") is pleased to report that the
Company has now completed 9 holes and 2,445 metres of its expanded
1st Phase drill program. Assays are pending and are
expected to start being received by the Company and continue
through to the end of October. This drill program is
considered the 1st Phase of what will be a
multi-phase/multi-year exploration program guided by the extensive
data compilation completed by the Company. The data obtained
is based on historic exploration results made available when the
Forrest Kerr Property was assembled in 2016. This historic
data includes over 120 drill holes, 2,100 rock and 18,000 soil
samples property-wide. This comprehensive study has helped our team
generate several exploration and drill targets based on a regional
scale.
Golden
Triangle, BC claims map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
This first drill program is
designed to test and confirm 2 historic drill intercepts and to
better define the nature of the mineralizing systems with which
they are associated. The Company will determine further drill
plans for this program when assays are received and evaluated.
Forrest Kerr
Gold Project Summary:
Historical drilling results at the
Forrest Kerr Project have ranged from trace values to several
high-grade intercepts such as 9.97 g/t gold over 29.3 metres,
including 125 g/t gold over 0.8 metres and 91 g/t gold over 1.9
metres, in hole RG91-21 in the Carcass Creek Zone as well as 33.4
g/t gold over 11 metres, including 326 g/t gold over 0.5 metres, in
hole RG91-16 at the Boundary Zone. This high grade mineralization
is within 200 metres vertical depth of surface and the Carcass and
Boundary Zones are approximately 4 kilometres apart, leaving robust
discovery potential along strike, at depth and at other regional
targets on the Property.
Aben's
Forrest Kerr, BC project map:
http://www.abenresources.com/i/maps/FK-007.jpg
The historical drill holes at the
two main target areas, the Carcass and Boundary Zones, were drilled
decades ago with limited follow up work due to limited
accessibility, high drilling costs and a less comprehensive
understanding of the geology. Since then, major infrastructure
improvements have been made including the Galore Creek access road
on the northern extent of the Property as well as roads and
powerlines within the southern boundaries of the Property where
hydroelectric facilities have been constructed in recent years. In
addition, rapid glacial retreat over the past 25 years has exposed
extensive new areas of outcrop exposure in this highly prospective
region. Aben's technical team has spent over a year analyzing and
reinterpreting the historical exploration and geological data with
the help of structural geologists to gain a stronger understanding
of the existing targets and high-grade gold mineralization at the
project.
*Note: 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. In
addition, management cautions that past results or discoveries on
proximate land are not necessarily indicative of the results that
may be achieved on the Forrest Kerr 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.
In other news that positively
affects Aben Resources, the Federal and the Yukon Governments have
announced over $360 million in combined federal and territorial
funding to improve road access in two mineral-rich areas: the
Nahanni Range Road in southeastern Yukon and the Dawson Range in
central Yukon. The Company's 100% held 18,300 acre Justin Gold
Project is contiguous with Golden Predator's advancing high-grade 3
Aces gold project which is traversed by the Nahanni Range Road for
approximately 30 km.
Justin Gold
Project, Yukon location map:
http://www.abenresources.com/i/maps/Justin_Location.jpg
Improvements to the Nahanni Range
Road will include upgrades along its 188 km length from its
junction with the Campbell Highway to the border between the Yukon
and the Northwest Territories. Aben's Justin Project camp is
located at km 143 on the Nahanni Range Road. This camp is currently
being utilized by Golden Predator for its 3 Aces project and by
Aben personnel for a sampling, mapping and trenching program
supported by the Yukon Government through a YMEP grant.
The "Yukon Resource Gateway
Project" is critical to help advance exploration and develop new
mining projects with improved access to our Justin Project and
others, for the benefit of the Yukon's First Nations, rural Yukon
communities, and Canada in general.
Aben's CEO, Jim Pettit states:
"This move to upgrade infrastructure into these mineral-rich
regions of the Yukon will have the same knock-on effects as the
upgrades to infrastructure in the very active Golden Triangle
region of British Columbia where our flagship Forrest Kerr Project
is located. Aben's Justin Project and camp are located along the
Nahanni Range Road, and any upgrades to access should help bring
down costs. Aben believes the Yukon is one of the best
jurisdictions in Canada for exploration and mining."
The Company is spending $100k on
the Justin Project this year for further mapping, sampling and
trenching. This will help expand our current knowledge and
understanding of the intrusive-related gold system discovered by
Aben in 2011.
About Aben
Resources:
Aben Resources is a Canadian gold
exploration company developing projects in British Columbia's
Golden Triangle, the Yukon, and Saskatchewan. Aben's flagship
Forrest Kerr Gold Project is located in the Golden Triangle of BC
where the Company currently owns certain mineral tenures outright
and has agreements in place with various third-parties whereby it
has the exclusive right to a 100% interest in the 23,000-hectare
property area.
For further information on Aben
Resources Ltd. (TSX-V:ABN), visit our Company's web site
at www.abenresources.com.
Aben Resources has approx. 53.2
million shares issued and outstanding.
ABEN RESOURCES LTD.
"Jim Pettit"
______________________
JAMES G. PETTIT
President & CEO
For further information contact
myself or:
Don Myers
Aben Resources Ltd.
Director, Investor Relations
Telephone: 604-639-3851
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.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aben Resources Ltd via Globenewswire
Abn Amro (NYSE:ABN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abn Amro (NYSE:ABN)
Historical Stock Chart
From Apr 2023 to Apr 2024