It is a short exploration and drilling season in BC’s Golden Triangle. Jim Pettit, CEO of Aben Resources (V.ABN), knows the company has only four or five months to accomplish its program. Aben’s property is in the North Coastal Mountains where 30 or even 40 feet of snow could fall. “Winter drilling is possible,” said Pettit, “But it is a logistical nightmare and really, really expensive.”
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.
Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) has arranged and closed a non-brokered private placement of 2,375,000 flow-through common shares at a price of $0.40 each for gross proceeds of $950,000. The financing was placed with institutional investors. The Company intends to utilize the proceeds from the private placement on the expansion of its 2018 exploration and drilling program at its Forrest Kerr Gold Project located in the Golden Triangle region of British Columbia. The Company had originally announced and budgeted for up to 5000 metres of drilling and now intends to at least double that amount this year.
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.
Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces a non-brokered private placement of up to 13,333,333 units at a price of $0.30 each to raise gross proceeds of up to $4,000,000. Each unit will consist of one common share and one warrant (each, a “Warrant”) exercisable to purchase one additional common share at a price of $0.45 each for a period of two (2) years from the date of issuance. The lead order is for $2,000,000 from Eric Sprott who will subscribe for 6,666,667 million Units. Additionally, Palisade Global Investments will subscribe for 2,750,000 million Units and Venture Ad Network will subscribe for 600,000 Units.
Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to report that assay results from the first drill hole of 2018 have been received with multiple high-grade zones and precious metal values intersected in the hole at shallow depths. Drill hole FK18-10 was collared in the North Boundary Zone of the Forrest Kerr Property in BC’s Golden Triangle region where drilling late in the season in 2017 discovered strong precious and base metal mineralization. Hole FK18-10, the first of eight holes that have been drilled thus far, has four separate high-grade zones with the best zone returning and interval of 38.7 g/t Au over 10.0m including 62.4 g/t Au over 6.0m starting at 114 metres downhole.
Aben Resources Ltd. (TSX-V:ABN) (OTCQB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to provide the following progress update on its 2018 exploration and drilling program at its 23,000-hectare Forrest Kerr Gold Property located in British Columbia’s Golden Triangle region. The first five holes drilled at the high grade North Boundary Zone have encountered mineralization and the drill core has been sent to the assay labs and final geochemical assays are pending. These holes have transected rock that has been strongly altered with quartz-sericite-pyrite with variable chlorite and strong calcite and hematite throughout. The pervasive nature of the alteration is evidence toward the strength of the hydrothermal system that operated through time in this part of the Property. Several fault and shear zones have been encountered in each hole, which have been interpreted and observed as the likely host to Au-Ag-Cu mineralization. This area of the Forrest Kerr Property hosts gold-silver-copper in rock and soil anomalies that span in excess of 2 km by 4 km and remain under-explored.
Aben Resources Ltd. (TSX-V:ABN) (OTCQB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to announce that the drill is now turning at the Boundary North Zone discovery at the Company’s 100% held 23,000-hectare Forrest Kerr Gold Project located in BC’s Golden Triangle region. Aben’s 2018 program will encompass a 5000-metre diamond drilling program in approximately 18 holes with the potential for program expansion.