Aben Resources to Begin Forrest Kerr Drill Program in BC's Golden Triangle Region
July 26 2017 - 8:00AM
VANCOUVER, British Columbia, July 26, 2017 (GLOBE
NEWSWIRE) -- Aben Resources
Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the
"Company") is pleased to announce plans for the upcoming
summer drill program at its Forrest Kerr Gold Property located in
North Western British Columbia's Golden Triangle region. The
Company is planning a 2100 metre (6,800') diamond drill program
commencing in the first week of August. Field-based
exploration activities have been underway earlier this season at
Forrest Kerr, where crews completed soil geochemical sampling,
ground-truthed historic data and evaluated mineralization potential
on a property-wide basis. Focus was placed on those areas
containing historic high-grade precious- and base-metal
occurrences. Aben 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.
Golden Triangle, B.C., claims
map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
Project high-lights:
-
2100 metre drill program to commence in early
August.
-
Expanding on high-grade Carcass Creek Zone and
Boundary Zone results.
-
Testing of conceptual targets for precious- and
base-metal potential.
-
Potential to expand program.
Drilling will aim to extend known mineralized
high-grade horizons located in the Carcass Creek and Boundary
Zones. These zones reported some of the best grades on the Forrest
Kerr Property and the Company feels there is the potential for the
expansion of these known zones based on recent data compilation and
field reconnaissance work. There are also some more conceptual
targets to be tested south of the Boundary Zone. These entail areas
of outcrop with multiple shear zones and abundant sulfides. There
is also significant surface sampling associated to this reporting
gold grades in the order of 3 - 5 g/t.
Historic drilling at the Forrest Kerr Project
ranged from trace values to several high grade intercepts such as
an average of 9.97 g/t gold over 29 metres (including 125 g/t gold
over 0.8m and 91 g/t gold over 1.9m) in the Carcass Creek Zone and
33.4 g/t gold over 11 metres in the Boundary Zone (including 326
g/t gold over 0.5m).
*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.
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, the Company has made these
corrections to its recently closed private placement financings
announced July 5th.
The Company has issued 5,815,000 Units at a price
of $0.10 per Unit for gross proceeds of $581,500. Pursuant to
the Offering, Aben has also issued 6,540,000 flow-through Units at
a price of $0.125 per flow-through Unit for gross proceeds of
$817,500. In connection with part of this Offering, the Company
paid $67,655 in cash finder's fees and issued 568,400 finder's
warrants ("Finder's Warrants") to qualified arm's length
finders.
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. 46.8 million shares
issued and outstanding.
ABEN RESOURCES LTD.
"Jim Pettit"
____________________________
JAMES G. PETTIT
President & CEO
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.
For further information contact:
Aben Resources Ltd.
Director, Investor Relations
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com
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