VANCOUVER, British Columbia, Aug. 23, 2018 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V:ABN) (OTCQB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to provide an update on its exploration drill program currently underway at the Forrest Kerr Property in BC’s Golden Triangle. The Company has intersected mineralization 1.5km south of the North Boundary Zone in a newly discovered area called the South Boundary Zone. Aben has now completed 4,850 meters of drilling in 16 holes at Forrest Kerr in 2018. The majority of drilling has taken place at the North Boundary area where high-grade precious and base metal mineralization was discovered in 2017 drill holes as well as in the first reported drill hole of 2018 (see news release dated August 9th, 2018). The ongoing drill program has been expanded and will continue well into the Fall.
Golden Triangle, B.C., claims map:
Of the sixteen holes, three holes (1,150m) have been completed on the southwest side of the valley at the “South Boundary” target, located 1.5km south of the strong gold and copper mineralization intersected at the North Boundary Zone. Drilling in this area targeted a prominent soil geochemical anomaly (Au, Cu) that trends southward over 2km. These three holes represent the first ever drill-holes collared in this target and have intersected numerous broad horizons of quartz-sulfide veins containing abundant pyrite and copper (chalcopyrite) mineralization. The mineralized veins are hosted within a package of Hazelton Group volcanic rock that display moderate to strong silica-sericite alteration with a variable chlorite and potassic alteration component. This combination of sulfide mineralization and alteration has been indicative toward the potential for associated precious metal values throughout the 4km x 2km Boundary Zone. Assay results for South Boundary and North Boundary drilling are pending and will be reported once they have been received, compiled and interpreted. The target at the South Boundary Zone is an area of interest due to the elevated gold in rock and soil values that are coincident with an historic electromagnetic (“EM”) conductive geophysical anomaly. Aben is highly encouraged that the mineral potential of the Forrest Kerr property has been greatly expanded through drilling at the newly discovered South Boundary Zone.
Boundary Area Soil Geochemical map:
Jim Pettit, President and CEO of Aben Resources stated, ” This new discovery of mineralization 1.5km south of the North Boundary Zone is a major development for the Company and further highlights the robust discovery potential at the Forrest Kerr Project. The mineralizing system at the property is apparently widespread and well-developed with high-grade mineralization being discovered at shallow depths over a large area. We believe we have only just scratched the surface at the newly discovered North and South Boundary Zones and an expanded drill program is currently underway with assays pending for most of the holes drilled to date.”
First Drill Hole in 2018 Season (FK18-10):
As previously reported in the August 9th, 2018 news release, the first drill hole of Aben’s 2018 drill season intersected four separate high-grade zones. The best high-grade interval consisted of 331.0 g/t Au over 1.0m, within a broad zone averaging 38.7 g/t Au over 10.0m from 114.0-124.0m, including 62.4 g/t gold over 6.0m (true thicknesses undetermined). The other intervals included: 22.01 g/t Au, 22.38 g/t Ag over 4.0m from 84.0 to 88.0m; 3.94 g/t Au, 3.99 g/t Ag over 13.0 m from 61.0 to 74.0m; and 8.23 g/t Au, 1.43 g/t Ag over 6.0m between 183.0 to 189.0m.
Boundary North Plan View map:
FK18-10 (140/-45) was drilled from a location 35 meters northwest and along section from the drill pad from which the discovery holes FK17-04, 05 and 06 were drilled last August. The new hole has further defined and increased the zone of precious and base metal mineralization that the 2017 holes originally pierced. Of note, the high grade intercept of 331.0 g/t Au was encountered 230 meters northward of a 326 g/t Au grade reported by Noranda in 1991 in drillhole RG91-16 (see attached plan map). High grade intercepts are generally found in narrow and discrete zones of moderate mineralization within a broad envelope of lower grade mineralization. Mineralization at North Boundary reflects the poly-metallic nature of the core with widely variable values of Au, Ag, Cu, Pb and Zn throughout. Partial results have been received for the second hole FK18-11 but will not be released until all assays are in hand.
Boundary North Cross Section map:
Select results previously reported from the 2017 holes include 6.7 g/t Au, 6.4 g/t Ag and 0.9% Cu over 10.0 m including 18.9 g/t Au, 16.6 g/t Ag and 2.2% Cu over 3.0 m in hole FK17-04 which contributed to an average grade of 0.26 g/t Au over 387.0 m. Hole FK17-05 returned 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu over 6.0 m from the same zone at a slightly greater depth.
The North Boundary area shows very little outcrop exposure and contains complex geology which is disrupted by a series of faults of unknown orientation. Additional drilling is required to determine true thicknesses and establish controls to mineralization. Based on results to date the scope of the project has been expanded with additional funding to be directed to extend the current drill program. Mineralization at North 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 Zone lies 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 host package Hazelton is known to be a prolific host to several deposits throughout the region.
*all assay values are uncut and intervals reflect drilled intercepts, true thicknesses and orientations of the various zones is currently not known
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:
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.