VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) has received analytical results from the the first shipment of drill core from the 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia.
Forrest Kerr Project, Golden Triangle, B.C., location map:
5000+m has now been completed in 10 holes, with numerous sample shipments now in the laboratory. Based on the encouraging results obtained to date, Aben had elected to expand the budget for the program and intends to continue drilling into September.
Forrest Kerr Project North Boundary Zone map - August 2019:
The goal of the 2019 drill program is to test a specific area of the North Boundary Zone as well as the area around the historic “Noranda hole” and a corresponding new zone of sericite alteration located south of the Noranda hole. These initial results are from three widely spaced holes located peripheral to the main zone of mineralization at North Boundary. Each hole encountered variable and intermittent polymetallic mineralization within the Hazelton volcanic/sub-volcanic sequence (brief hole descriptions are summarized below). Mineralization corresponds to multiple and widespread fault and shear zone structures within a panel of Jurassic Hazelton rocks that dominate the Boundary valley. The mineralized structures correlate very well with magnetic highs that were delineated by an airborne survey flown in May 2019. Thus far, drilling in this part of the Forrest Kerr Property has only tested a small portion of the potentially mineralized structures defined by the magnetic survey.
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project:
FK19-46 (110/-45) -- Drilled oblique to the main mineralized corridor at North Boundary to test for continuity of mineralization between recently discovered mineralization and historic high-grade gold mineralization reported by Noranda in 1991 (326.0 g/t Au over 1 meter). This hole encountered multiple mineralized horizons with an overall average of 0.12 g/t Au over its entire length of 500.5 meters (m) (including 12.4 g/t Au between 203-204m).
FK19-50 (195/-65) – Drilled to test for the downward extension of a mineralized horizon discovered in 2018 (holes FK18-17 & 18) situated 50 meters NW of high-grade Au-Ag-Cu mineralization at North Boundary. The mineralized horizon is characterized by intermittent higher-grade gold intercepts within broad lower grade envelopes associated with fractures and fault structures. The zone remains open to the NW.
|Drill Hole||From (m)||To (m)||Interval (m)||Au average (g/t)|
|including 11.65 g/t over 1 metre|
|including 31.4, 22.5 and 8.4 g/t over 1 metre intervals|
|including 11.55 g/t over 1 m|
FK19-51 (310/-45) – Located some 500m from the main mineralized core at North Boundary, this hole was drilled oblique to the roughly North-South mineralized corridor to test for southward extension of mineralization and depth potential under historically reported mineralization. Multiple and sporadic Au-Ag-Cu-Pb-Zn intercepts were reported with strong widespread QSP alteration that appears to overprint earlier potassic alteration. Quartz-sulfide-hematite veins are also prevalent in this area, an important host to mineralization on this part of the property. Gold mineralization, although common, was generally low grade in this hole and not as strongly correlated to the repetitive sequences of copper mineralization. Hole FK19-52 was drilled from the same set-up at a steeper dip with assay results pending.
Aben’s President and CEO, Jim Pettit says: “We are off to a great start for the 2019 drill season. We have some exciting theories to test from the analysis of the last few years drill results as well as our new geophysical survey results. As we work our way south of the mineralized core of the North Boundary Zone, we are looking for potential connectivity with the historic, high-grade gold discovery made by Noranda in 1991. As noted from the description of Hole FK19-51, we have been drilling a highly altered zone of mineralization a few hundred meters south of the Noranda hole. The style of alteration and mineralization in this Zone has a strong association with elevated gold values in the region as well as a strong copper mineralization represented by chalcopyrite. The mineralization in this type of setting is definitely something we want to chase.”
Forrest Kerr Project Exploration Target map:
Soil Sampling Map at Forrest Zone:
JUSTIN GOLD PROJECT, YUKON
2019 drilling consisted of 4 diamond drill-holes (963m) testing the POW Zone while 20 rotary air-blast (“RAB”) holes (592m) tested the Lost Ace Zone. At the POW Zone, drilling targeted a magnetic geophysical feature inferred to be associated with skarn alteration and sulphide mineralization. JN19020 and -021 are approximately 125 m step-outs from holes drilled during the 2011 and 2012 campaigns. Both holes intersected zones of massive sulphide, sulphide-mineralized skarn and mineralized quartz veins. Results include 1.5 g/t Au over 15.4 m (165.0-180.4 m) including 10.5 g/t Au over 1.2 m in JN19020 and 0.9 g/t Au over 3.3 m (250.5-253.8 m) including 3.5 g/t Au over 0.8 m in hole JN19021. JN19031 which tested the POW Zone magnetic “wedge” anomaly did not return significant results. At this stage the source of the anomaly is unclear, and the target remains open. JN19039 was drilled to test the mineralization potential of the Justin Fault and variably mineralized sheeted quartz veins within the Justin Intrusion. The mineralized intersection of the Justin Fault returned 0.2 g/t Au over 9.5 m (35.5 – 45.0m). The sheeted quartz veins of the Justin Intrusion, which are comparable to veins observed in surface trenching from 2014 (TR14-001), returned 0.4 g/t Au over 7.3 m (52.0-59.3 m) including 1.8 g/t over 0.6 m (sample JN19039-035; 58.7-59.3m).
Select diamond drill samples were sent to a referee lab for re-analysis. The decision was made after the first round of analysis returned results that were unexpected through zones of massive sulphide and sulphide mineralized skarn. The results from the re-analysis are in agreement with the initial results.
RAB drilling at the Lost Ace Zone was successful in intersecting the mineralized phyllite/quartz-pebble conglomerate contact discovered through surface geochemical surveys, prospecting and mapping during the 2017 and 2018 programs. Results will allow for an updated interpretation of the contact geometry and mineralization potential at depth. Results include 0.9 g/t Au over 1.5 m (19.8-21.3 m) in hole JN19026 and 0.5 g/t Au over 3.0 m (12.2-15.2 m) in hole JN19029. RAB drilling at the POW zone targeted near-surface pyrite-arsenopyrite ± galena veins first observed in DDH JN19021. Results include 0.2 g/t over 1.5 m (29.0-30.5 m) in hole JN19042. Sampling was hindered by extremely wet hole conditions, which may reduce the reliability of analytical results.
Justin Gold Project, Yukon location map:
Cornell McDowell, P.Geo., V.P. of Exploration for 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 gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $5 million in the Company’s treasury and approximately 116.7 million shares issued and outstanding.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Aben Resources Ltd.
Director, Corporate Communications
Toll Free: 800-567-8181
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.