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.
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