VANCOUVER, British Columbia, March 30, 2017 (GLOBE
NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) ("Aben" or
the "Company") is pleased to announce an update with regard to its
3 strategic gold projects and the upcoming work programs planned
for this year.
Forrest Kerr Project-Update on
preparations for Exploration and Drill Program
2017
Preparations for the upcoming exploration season at Aben's flagship Forrest Kerr Project located in the heart
of BC's Golden Triangle are
progressing smoothly. Aben's permit application (Notice of Work)
has been filed with the Province of British Columbia and is
currently in the consultation phase, with final approval
anticipated in May 2017. Aben has assembled an experienced
exploration team and expects to have all drilling, helicopter, and
support contractors in place during the first week of April. Snow
accumulation over the project area has, thus far, been below
average, which should allow field crews to be on the ground in
early June. After several months of compiling and analyzing all
historic data, the exploration team has identified several areas of
immediate interest and is confident that the upcoming field season
at Forrest Kerr will prove successful in advancing the project and
providing value for Aben shareholders.
Golden Triangle, B.C., claims
map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Forrest Kerr Project Summary and
History
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 Pretivm Resource's Brucejack project 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.
Forrest Kerr Gold Project, B.C.,
Golden Triangle claims map:
http://www.abenresources.com/i/maps/ABN_Forrest_Kerr_Project_map_small.jpg
Drilling throughout the project area is relatively
limited, with analytical results ranging from trace amounts to
multi-gram gold concentrations. Historical drilling and field work
completed throughout the project area confirms the presence of
numerous high-grade gold, silver, and base-metal mineral
showings.
Highlights 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 gold over 1.95m
and 137.8 g/t gold 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 gold (including
2.0m grading 5.9 g/t gold, 190.0 g/t silver and 12.4%
copper).
-
Notable sample occurrences include:
Jungle (25.5 g/t gold float); For (15.85% copper in narrow veins);
Forgold (30.5 g/t gold and 15.85% copper in narrow veins); Falls
(22.11 g/t gold, .32% copper-grab); Marmot Heights (45.57 g/t
gold-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.
Chico Project-Update on
preparations for Exploration and drill Program 2017
The 2016 exploration program at Aben's Chico
property, located 45 km southeast of Silver Standard's recently
acquired Seabee Gold Mine in northern Saskatchewan, verified the
existence of high grade gold mineralization along a 1500m x 20m
quartz-vein-fill shear system. Numerous drill targets have been
identified and permitting has been completed [for a diamond
drilling program proposed for late 2017 to early 2018]. In advance
of the drill program, Aben has commissioned a resistivity-I.P.
geophysical survey to be completed immediately following spring
breakup. Results of the detailed survey will be used to constrain
and prioritize the drill targeting.
Chico Gold Project location map,
Saskatchewan:
http://www.abenresources.com/i/maps/ABN_Chico_Location_and_Highlights.jpg
Chico Project Summary and
History
The Chico structural zone comprises a
north/northeast-trending 20m- to 150m-wide multi-episodic shear
system comprising both ductile and brittle gold-bearing quartz vein
systems. Trenching and drilling activities carried out in the
project area by Corona Corporation and Cameco from 1988 to 1993
defined a mineralized strike length of over 1400m. Follow-up
diamond drilling by Cameco returned five significant
intercepts ranging from 0.51 g/t over 1.5m, to 36.0 g/t over 0.3m
(AR 63M06-0041).
The 2016 program by Eagle Plains marks the most
recent systematic exploration work carried out to date at
Chico.
Highlights include:
-
1.5 km mineralized structural corridor
defined by past and current work
-
Anomalous soil geochemical samples up
to 4.5 g/t gold along structural corridor
-
Rock samples ranging from trace
quantities to 20.2 g/t recovered
-
Numerous drill targets identified
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.
Justin Project-Update on
Preparation for Exploration Program 2017
Aben's Justin Project is located in the
southeastern corner of the Yukon and adjoins Golden Predators 3
Aces project. In 2011, a first-pass drill program consisting
of 2,020 metres in ten drill holes targeting four separate
mineralized zones was completed on the Justin Project. During this
program, a significant new greenfield gold discovery was made at
the POW Zone, with drill highlights including 60.0 metres of 1.19
g/t gold including 21.0 metres of 2.47 g/t gold in hole JN11009. A
total of 1,994 metres were drilled in nine holes during the 2012
field season at the Justin property with highlights including 46.4
metres of 1.49 g/t gold in hole JN12011. Including the two
discovery holes drilled during the 2011 field season, all holes
completed to target depths at the POW Zone intersected gold
mineralization, with the zone open in all directions.
Justin Gold Project location map,
Yukon:
http://www.abenresources.com/i/maps/Justin_Location.jpg
Highlights include:
-
Gold mineralizing events on the Justin
property directly comprise an intrusion-related gold system
("IRGS").
-
All holes drilled to completion in the
POW Zone thus far have successfully intersected gold
mineralization.
-
Drill highlights include 60.0 metres of
1.19 g/t gold in hole JN11009, 46.4 metres of 1.49 g/t gold in hole
JN12011 and 88.5 metres of 0.73 g/t gold in hole JN12018.
-
The POW Zone continues to exhibit
strong continuity of mineralization and remains open in all
directions.
-
The majority of the intrusive stock and
its surrounding contact aureole at the Justin Project have yet to
be tested and remain high priority targets for future exploration
and drilling.
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. 30.2 million shares
issued and outstanding.
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.
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
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