VANCOUVER, British Columbia, Oct. 16, 2018 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) provides further analytical results from the 2018 exploration drill program at the Forrest Kerr Property. Three holes totalling 1,153 meters have been completed in the newly discovered South Boundary Zone 1.5 km south of the strong precious metal mineralization delineated at the North Boundary Zone. These holes represent the first ever drill holes collared in this target area and have intersected numerous broad horizons of mineralized veins containing abundant pyrite and variable amounts of chalcopyrite. Discovery hole FK18-21 intersected 379.2 meters of 0.10 grams/tonne (g/t) Au starting at a depth of 4.8m including 89.0m of 0.24 g/t Au and 9.0m of 0.95 g/t Au. Gold values in all three holes range from trace amounts to greater than 5 g/t in the 1- or 2-meter sample intervals (silver values range from trace to 8.7 g/t and copper values range from trace to 9500 ppm). Aben management is extremely encouraged that this first-pass drilling has intercepted broad zones of pervasive alteration (silica-sericite-pyrite-chlorite-potassic) with abundant quartz-sulfide veins and mineralized breccia zones indicating a strong and widespread mineralizing event.
Golden Triangle, B.C., Claims Map:
The three holes at South Boundary were collared on the periphery of a large gold-in-soil anomaly that is coincident with high gold-in-rock values and adjacent to an electro-magnetic (“EM”) geophysical conductivity anomaly identified in the mid 1990’s (drill hole summary below). Only a very small portion of the anomalies have been tested with the current drill holes so the potential for further discovery of precious metal mineralization remains high and open in all directions. A 355-line km airborne magnetic survey was recently completed over the entire Boundary Zone with interpreted results expected soon. Aben anticipates that the large amount of drill hole, surface and geophysical data collected in the last two years coupled with a significant database of historic information will greatly assist in targeting expanded mineralization with future drilling.
Forrest Kerr South Boundary Anomalies:
Aben has now completed 9,900 meters of drilling in 36 holes at Forrest Kerr in 2018. The majority of drilling has taken place at the North Boundary Zone area where high-grade precious metal mineralization was discovered in 2017 and subsequently confirmed in 2018. There are 24 drill holes still to report on, all in the North boundary Zone.
Aben’s President and CEO, Jim Pettit, stated: “Discovering this new zone of mineralization over 1.5 km from the known high-grade gold mineralization at the North Boundary Zone is a significant development for the Company and illustrates the robust discovery potential over the relatively untested 4km by 2km soil geochem anomaly. There is a distinct presence of a very strong and broad mineralizing event that needs to be followed up with more drilling. There has never been any drilling in the South Boundary Zone area and on the west side of the valley oriented toward the Kerr Fault, so this has truly opened up a whole new area for future exploration. As for upcoming news flow, Aben still has 24 drill holes from the North Boundary Zone which were drilled using oriented core drilling and were follow up holes to the first hole announced this season which intersected 62.4 g/t Gold over 6.0m.”
Boundary Area Soil Geochemical Map:
Mineralization at the Boundary Zones 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 host package Hazelton is known to be a prolific host to several deposits throughout the Golden Triangle region.
Drill Hole Summary:
FK18-19 (400186 E 6309773 N, 280 azimuth/-45 dip)
Collar location 250 meters NE and 70 meters lower in elevation than FK18-20 & 21. Top of hole drilled through strongly altered mixed volcanic tuff units. Mineralization was encountered downhole in weakly brecciated rock with moderate to strong quartz-chlorite-sulfide fracture filling. Mineralization in this hole correlates well with FK18-20 & 21 and with historic EM conductivity anomaly.
Forrest Kerr South Boundary Hole FK18-19 Cross Section:
FK18-20 (400012 E 6309604 N, 270 azimuth/-50 dip)
Mineralization found within mixed ash and crystal tuff units that displayed pervasive quartz-sericite +/- chlorite alteration with silica flooded horizons. Potassic alteration (K-feldspar component to veins) common in fractured areas containing elevated mineralization.
FK18-21 (400012 E 6309604 N, 270 azimuth/-60 dip)
Multiple mineralized horizons correspond to areas with stronger silica alteration and chlorite-hematite component in fractured zones shows relationship between mineralization and parallel structures to the Forrest Kerr Fault that spans the Boundary Zone and beyond.
Forrest Kerr South Boundary Holes FK18-20 & 21 Cross Section:
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.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
Aben Resources has approx. 110.4 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers, Director, Corporate Communications
Aben Resources Ltd.
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.