Part of running a successful resource exploration company is working on complementary projects. Projects which mesh with one another so that the exploration resources, the drillers, the geos and the logistical support can be deployed efficiently. A big part of that is combining projects which have different drilling seasons.
Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces, pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, employees and consultants to purchase up to an aggregate of 4,000,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.16 per share. The Company’s 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on July 25, 2018.
Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to provide a summary of exploration results from the 2018 exploration program on their 100% owned Justin Gold Project in the Yukon Territory. Work completed in 2018 included the collection of 19 channel and 28 chip samples from 5 trenches, 16 rock samples, 7 till samples and 240 soil samples with coverage totaling 6.0 line-km. The 2018 field program focused primarily on the Lost Ace Zone, a gold bearing zone discovered in 2017. Lost Ace is located 2 kilometers west of Aben’s POW Zone where past drill results indicate potential for bulk-tonnage gold mineralization with intercepts reported ranging from trace values to highs of 1.19 g/t Au over 60.0 m (including 2.47 g/t Au over 21.0 m) and 1.49 g/t Au over 46.4 m.
Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) reports further results from the recently completed drill program at the Forrest Kerr Project. Drilling has extended the mineralized envelope surrounding the 2017 and 2018 high-grade gold discoveries at North Boundary. This round of focused drilling tested for the depth and lateral extension of known mineralized shear and vein sets located in the North Boundary Zone. Broad horizons of low to moderate grade gold mineralization were encountered in several of the 15 drill holes (FK18-22 à36) reported herein, while all drill holes encountered discrete polymetallic vein hosted mineralization with gold values ranging from trace amounts to 13 grams per tonne (g/t) over 1 meter.
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.