Aben Resources Provides Drilling Update for Forrest Kerr Gold Project in BC’s Golden Triangle, Assays Pending for Justin Gold Project in the Yukon
FOREST KERR UPDATE
VANCOUVER, British Columbia, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF
) (“Aben or the Company”) is pleased to announce that the 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia is ongoing and continues to provide encouraging visual indicators of significant alteration and mineralization immediately south of the North Boundary mineralized zone. A total of 4000 meters (m) in 9 holes have been completed to date, with regular sample shipments being sent to ALS Chemex prep facility in Terrace BC. All results to date are pending. A total of 5,000m of drilling has been planned for 2019, with funding in place to expand the program considerably.
Forrest Kerr Project, Golden Triangle, B.C., location map:
2019 drilling to date has focussed on confirming high-grade mineralization on the 23,000-ha property based on results obtained by Aben in 2017 and 2018 and from historical exploration activity dating back to 1990’s. The initial drilling has been focussed in an area which has previously returned high-grade results including 38.7 grams per tonne (1.12 ounces per ton) gold over 10 m (from 114.0 m to 124.0 m), including 331.0 g/t (9.65 oz/t) gold over 1.0m in hole FK18-10.
Drilling has also tested for a potential northward extension of the high-grade mineralized core at the North Boundary Zone and for potential connectivity with historic, high-grade gold discoveries, including 326.0 g/t gold reported in 1991 by Noranda in drill hole RG91-16 (located 200 m to the south of the North Boundary Zone mineralized core).
Currently, the drill rig is testing a strongly leached and iron-oxidized area located 500 meters south of the main North Boundary mineralized zone. Drill core from this new zone displays variably strong QSP (quartz-sericite-pyrite) overprinting potassic alteration with strong hematite and chlorite altered horizons. This style of alteration and mineralization has a strong association with elevated gold values on the Forrest Kerr Property, along with locally strong copper mineralization represented by chalcopyrite. Several holes will be drilled from this set-up in order to both test for and better understand the continuity, nature and geometry of mineralization in this zone. Initial visual observations from drill core have been very favourable in terms of the presence and abundance of alteration and sulfide minerals that indicate the type of environment required for high-grade base and precious metal mineralization. The entire range of sample intervals from the first hole in this zone have been sent to the lab on an expedited basis.
A 173 line-km airborne geophysical magnetic survey was completed within the property area in early 2019 and has provided important data with respect to inferred structural and mineralogic trends noted from past exploration. A number of high-priority targets have been generated from this survey and are the focus of ongoing drilling.
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project:
Data from extensive soil geochemical sampling has been compiled by Aben geologists and indicates strong geochemical trends within the Forrest Kerr property area. Targets generated from this data also form the basis for target generation during the 2019 drilling campaign.
Soil Sampling Map at Forrest Zone:
Forrest Kerr Project Exploration Target map:
JUSTIN GOLD PROJECT, YUKON UPDATE
Drilling activity at Aben’s 100% owned Justin Property was completed in July, with samples pending. A total of 963m (3,158’) was completed in 4 diamond-drill holes and 592m (1,942’) completed in 20 rotary air-blast (RAB) holes. Important visual indicators of alteration and pathfinder elements associated with intrusion–related gold systems were noted in many holes. Management has elected to re-assay a number of key sample intervals in order to ensure the accuracy of results to date. An update on all conclusions from the program will be released once complete analytical results are received, compiled and interpreted.
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 116.6 million shares issued and outstanding.
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.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
NAXS Delårsrapport januari – september 201918.10.2019 17:45:00 CEST | Pressemelding
Nio månader 2019 Resultat efter skatt uppgick till 26,4 (22,2) MSEK. Resultatet per aktie uppgick till 2,29 (1,70) SEK. Substansvärdet uppgick till 717 MSEK (SEK 64,16 per aktie) per den 30 september 2019, jämfört med 736 MSEK (SEK 61,81 per aktie) per den 31 december 2018. De omfattande aktieåterköpen under delårsperioden samt betalning av utdelningen för 2018 var de två viktigaste orsakerna till det minskade substansvärdet. Nettokassan uppgick till 194 MSEK (17,40 SEK per aktie) per den 30 september 2019, jämfört med 261 MSEK (21,94 SEK per aktie) per den 31 december 2018. Årsstämman 2019 beslutade att lämna en utdelning om 2,78 SEK per aktie. Tredje kvartalet 2019 Resultat efter skatt uppgick till 11,7 (10,6) MSEK. Resultatet efter skatt per aktie uppgick till 1,05 (0,86) SEK. VD-kommentar NAXS hade en fortsatt stabil utveckling under det tredje kvartalet med en tillväxt i substanse/aktie om 3% under kvartalet och 7,4% över en 12-månaders period, inklusive lämnad utdelning. NAXS har
Interim Report January-September 201918.10.2019 17:45:00 CEST | Press release
Nine months 2019 Net profit/loss for the period amounted to MSEK 26.4 (22.2). Earnings per share amounted to SEK 2.29 (1.70). Net asset value amounted to MSEK 717 (SEK 64.16 per share) at September 30, 2019, compared to MSEK 736 (SEK 61.81 per share) at year-end 2018. The fact that the total net asset value decreased, while the net asset value per share increased is due to the shares repurchases made during the period. Net cash amounted to MSEK 194 (SEK 17.40 per share) at September 30, 2019, compared to MSEK 261 (SEK 21.94 per share) at year-end 2018. The 2019 Annual General Meeting resolved that a dividend of 2.78 SEK per share to the shareholders for FY 2018. Third quarter 2019 Net profit/loss for the quarter amounted to MSEK 11.7 (10.6). Earnings per share amounted to SEK 1.05 (0.86). Comments by the CEO NAXS delivered a steady performance during the third quarter of 2019, with the NAV/share growing by 3% during the quarter and by 7.4% over 12 months, including the dividend paid. N
DNO ASA: Mandatory Notification of Trade18.10.2019 16:47:00 CEST | Press release
Oslo, 18 October 2019 - DNO ASA, the Norwegian oil and gas operator, has today purchased 1,200,000 own shares at an average price of NOK 12.4482 per share. Following this transaction, DNO holds 78,800,000 own shares. -- For further information, please contact: Media: email@example.com Investors: firstname.lastname@example.org -- DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Netherlands, Ireland and Yemen. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
PCI Biotech: Mandatory notification regarding trade of shares18.10.2019 14:59:00 CEST | Press release
Stocken Invest AS, a wholly owned company by Lars Viksmoen, has on 18 October 2019 transferred 12,966 shares in PCI Biotech Holding ASA (“PCI Biotech”) to Lars Viksmoen, board member of PCI Biotech, at an average price of NOK 26.80 per share. After the transaction, Lars Viksmoen holds 12,966 shares in PCI Biotech and Stocken Invest AS holds 0 shares in PCI Biotech. This information is subject to the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
Announcement of the Management Board of joint stock company “Olainfarm”18.10.2019 14:23:00 CEST | Press release
The joint stock company “Olainfarm” has received draft decisions prepared by the initiators of the November 1, 2019 Extraordinary General Meeting of Shareholders – limited liability company “OLMAFARM” and Andrejs Saveljevs who is authorized representative of Nika Saveljeva, which include, inter alia, a list of candidates for the Council and Auditing committee of joints stock company “Olainfarm”. The requirements laid down in the laws and regulations in force in Republic of Latvia and in related documents determines the specific requirements to be complied with by capital companies listed in regulated market regarding their management and disclosure of information. Legislation of the Republic of Latvia (including the Financial Instrument Market Law) sets requirements for capital companies, and the European Union and the OECD (Organization for Economic Co-operation and Development) set out recommendations for the corporate governance of the capital companies. Nasdaq Riga, AS has develope
Nordic American Tankers Limited (NYSE:NAT) Announces the date for its 2019 Annual General Meeting of Shareholders (AGM)18.10.2019 13:32:00 CEST | Press release
Hamilton, Bermuda, October 18, 2019. Nordic American Tankers Limited today announced that its Board of Directors has scheduled the 2019 AGM, to be held on November 20, 2019 at 10:00 a.m., local time, at the LOM Building,27 Reid Street, Hamilton HM 11 Bermuda. The Board has set a record date of October 8, 2019 for the determination of the NAT shareholders entitled to receive notice of and to vote at the AGM or any adjournment thereof. The Notice of the Meeting and Proxy Statement will be furnished to the Securities and Exchange Commission (SEC) on October 18, 2019. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals,