VANCOUVER, British Columbia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces that additional analytical results have been received from the early-stage drilling at the 23,000 hectare Forrest Kerr Property (the “Property”) located in the Golden Triangle region of British Columbia. The eight drill holes reported here consist of step-out drilling at the North Boundary Zone and most of the holes intersected shallow, high-grade gold mineralization. Highlights include: 5.08 g/t Au over 12.0m in hole FK18-12; 23.3 g/t Au over 2.0m in hole FK18-13; and 10.62 g/t Au over 3.0m in hole FK18-17. To date, final analytical results have been received for 3,000m of a total projected 10,000m (table of values and hole descriptions near end of release).
Golden Triangle, B.C., claims map:
This step-out drilling has successfully expanded the North Boundary Zone along an interpreted NE-SW trend from the high-grade gold mineralization reported last year in holes FK17-04, 05, and 06 as well as in previously reported FK18-10 which intersected 38.7 g/t Au over 10.0m from 114.0m - 124.0m depth including 62.4 g/t Au over 6.0m (see news release dated August 9, 2018). Several discrete zones of Au-Ag-Cu-Zn mineralization were encountered in all eight drill holes reported here and the multiple mineralized horizons illustrate the strong potential for further discovery of precious metal bearing structures on the Property.
- Hole FK18-12 returned 5.08 g/t Au over 12.0m (40.0m - 52.0m depth), including 24.25 g/t Au over 2.0m (42.0m - 44.0m depth)
- Hole FK18-13 returned 23.3 g/t Au over 2.0m (106.0m - 108.0m depth)
- Hole FK18-17 returned 3.18 g/t Au over 15.0m (232.0m - 247.0m depth) including 11.02 g/t Au over 2.0m (239.0m - 241.0m depth), as well as 31.40 g/t Au over 1.0m (261.0m - 262.0m depth)
- North Boundary Zone remains open in all directions
- 36 drill holes completed to date with assays pending for 27 of these holes which were drilled using Oriented Core Drilling techniques
- Drilling continues as part of an expanded program
- Broad soil geochemical anomaly over 4 km in length and continues to yield new discoveries (i.e.: recently-announced South Boundary Zone where final assays are still pending)
- New airborne geophysical survey reveals numerous untested target areas
Jim Pettit, President and CEO of Aben Resources stated, “These high-grade step-out holes at North Boundary have expanded the zone which is open in all directions and confirm the presence of a robust mineralizing system in the area. Based on the geochemical and new geophysical data available to us we can clearly see the potential of the area that now includes the North Boundary Zone, the historic Noranda hole 230 meters to the south and the South Boundary Zone another 1.5 kilometers further south. Given the complex geology, we started using Oriented Drill Core techniques after these eight holes reported here which will help in identification of orientation and structure as well as to delineate additional high-grade mineralization. The target areas in and around the Boundary Zones are relatively shallow and continue to provide strong discovery potential as we have only systemically tested a very small area at shallow depths. The Company is awaiting additional assay results from 27 holes, three of which are from South Boundary and the rest from the North Boundary Zone. This new high-grade discovery is still in its early days and with this increased drill program there will be news for some time to come. I would also like to welcome Eric Sprott as a new major shareholder and thank him for his support. The Company now has just over $7 million in the treasury from financings and the exercise of warrants. "
Complete assays for the three holes collared 1.5 km south at the South Boundary Zone are still pending. The South Boundary Zone had never been drill-tested and the newly discovered mineralization is encouraging considering the distance between the collar locations in the North and South Boundary Zone. The ground between and beyond the two zones is highly prospective for further discovery of gold and copper-bearing horizons given that they are located within a large gold-in-soil and rock anomaly in similar lithologies. The ubiquitous nature of the veining and widespread alteration regimes indicates that a strong and extensive hydrothermal system operated throughout time across the Boundary Zone. The broader soil geochemical anomaly that covers both the North and South Boundary Zones extends for over 4 km north to south and 1.5 km east to west.
Boundary Area Soil Geochemical map:
Aben has also just completed a 355 line-kilometer airborne Magnetic survey over the entire Boundary Zone with results expected by the end of September. The interpreted results of the survey are expected to greatly assist in identifying fault structures that have good potential to host high-grade precious metal mineralization in the Boundary valley. Mineralization at Boundary is structurally controlled and hosted in a package of volcanic and volcaniclastic rocks from the Jurassic Hazelton Group. Several generations of quartz and quartz-carbonate veining are important hosts to mineralization, as are subordinate breccia zones with strong chlorite, hematite and carbonate alteration. The Boundary Zones lie between the Forrest Kerr Fault to the west, a major deep-seated crustal feature, and the unconformable contact between the Jurassic Hazelton Group and the Triassic Stuhini Group to the East. The rock reflects a prolonged history of strong hydrothermal activity combined with brittle deformation. The Boundary host package Hazelton rocks are also known to be a prolific host to several deposits throughout the region. The North Boundary area shows very little outcrop exposure and contains complex geology which is disrupted by a series of faults of unknown orientation. All additional drilling is implementing Oriented Core Drilling techniques which will aid in determining true thicknesses and establishing structural and lithologic controls to mineralization.
Table of Assay Results:
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Cu (ppm)|
|FK18-14||no significant results|
|FK18-15||hole lost at 61.5m|
|*all assay values are uncut and intervals reflect drilled intercepts true thicknesses and orientations of the various zones is currently not known|
North Boundary Plan View Drill map:
Summary of Drilling:
FK18-11: same pad as FK18-10 at a steeper angle
Several intercepts > 1.0 g/t Au were encountered (high 4.55 g/t) throughout its 402m length
FK18-12: collar location 40 meters NE of FK18-10 & 11
Collared in mineralization at 12.0m (3.5 g/t Au) with a shallow zone between 40-52m that returned 5.1 g/t Au over 1.0m including 34.3 g/t Au over 1.0m
FK18-13: collar location same as above
Mineralization at or near top returned between 1-3 g/t Au with a high of 23.3 g/t Au over 1.0m at 106m depth
FK18-14 & 15: collar location 50m SW of FK18-10 & 11
Both holes encountered broken and faulted ground conditions that were poorly mineralized and in the case of FK18-15 lost at 61m
FK18-16: collar location as above at steeper dip (-65)
Narrow zones of low grade (<1 g/t) gold mineralization near top with a strong sulfide horizon at 300m that returned 1.7 g/t Au over 8.0m
FK18-17 & 18: collar location 185m SW of FK18-10 and drilled opposite direction (northward)
FK18-17 (-45) pierced a 15.0m zone that tested 3.2 g/t Au with an intercept of 31.4 g/t Au 20m below this zone (240m depth)
FK18-18 (-50) hit the same zone of above with 4.0 g/t Au over 4m.
Link to additional Cross Section and Plan View maps:
Analytical and QA/QC Description:
All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.
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. The Company is actively exploring its flagship and high-grade Forrest Kerr Project located in the Golden Triangle region where recent drilling has discovered strong precious and base metal mineralization at the North Boundary Zone.
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
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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.