Thu Oct 27, 2011 Aben Resources Completes 2011 Exploration Programs in Yukon and NWT
Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (FWB: E2L) (the "Company") is pleased to provide an update on its Selwyn Recce and Justin Gold Projects in the Yukon and the Northwest Territories (NWT).
Field crews completed a very large scale regional reconnaissance program on the Company's Selwyn Recce Gold Project that included geological mapping, regional prospecting, geochemical surveys and geophysical surveys. Eighteen high priority targets had previously been identified to form the focus of the project's 2011 exploration efforts. The bulk of the field work was carried out on the high priority targets with many thousands of samples having been collected including:
7368 soil samples
681 rock samples
668 silt samples
14 heavy mineral bulk samples
51 petrographic analysis samples
The Company has received about 75% of the analytical results from the field work carried out on the Selwyn Recce Project this season. As Aben waits for the remaining results to come in, all of the obtained data is currently being imported into a database to allow for geological interpretation and analysis. Once all of the results and data have been imputed into the database and analyzed, the Company's geologists will make final conclusions and recommendations in preparation for next season's work programs on the project. Aben expects this technical geological report to be completed by mid-December with subsequent news releases to follow.
As a result of the proprietary database acquired earlier this year and the extensive exploration work carried out this season, the Company has been very aggressive in staking land in the Selwyn Recce area. In total an additional 147,404 acres of highly prospective ground in the NWT and the Yukon was staked by Aben in the region.
The Selwyn Recce Project is comprised of the previously announced NWT Permits totaling 426,821 acres of ground (see news release dated Feb. 14, 2011) as well as additional land that was staked this season in the Yukon and NWT directly east of ATAC Resources' (TSX.V-ATC) Rau and Osiris gold zones. The area has garnered considerable attention recently with the discovery of Carlin-style mineralization in the Yukon at ATAC Resources' Osiris gold zone. Aben's permits and newly staked claims cover prospective targets with both Carlin-style stratigraphy and promising geochemical signatures. In addition to being prospective for the presence of Carlin-type gold deposits, the permits and claims have the potential to host carbonate and sedimentary-exhalative ("sedex") style silver-lead-zinc deposits as well as sediment-hosted copper deposits.
Update on the Justin Gold Project, Yukon
Aben recently completed its phase one, ten hole diamond drill program on its 100% owned 4,414 acre Justin Gold Project located within 10 kilometres of Northern Tiger's (TSX-V: NTR) 3Ace Gold Project. The assay results are still pending for the ten holes and are expected to be received within the next few weeks. The majority of the drilling was conducted on zones that have never before been tested by diamond drilling. Encouraging mineralization was noted in most of the holes.
Aben engaged TerraLogic Exploration Inc. of Cranbrook, BC to oversee all aspects of the 2011 exploration and drilling programs on the Company's Yukon and NWT projects. TerraLogic has been operating mineral exploration projects in North America since 1992 and has extensive experience up in the Yukon and NWT. Through TerraLogic, Aben arranged for field crews, support staff, camps, supplies, helicopters and drill rigs to conduct the exploration carried out this year. The Company's budget for its 2011 exploration programs on its properties was approximately $5 million.
Tim J. Termuende, P.Geo., is the Qualified Person for Aben Resources as defined by National Instrument 43-101 and has reviewed and approved the technical information in this release.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company developing properties in the Yukon and Northwest Territories. The Company is well funded with approximately $3 million in its treasury.
For further information on Aben Resources Ltd.(TSX-V: ABN), visit our Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Aben Resources Ltd.
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 news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
You can view the Next News Releases item: Thu Nov 17, 2011, Aben Drills Significant New Discovery of 60m of 1.19 g/t Gold on Justin Project, Yukon
You can view the Previous News Releases item: Thu Sep 29, 2011, Aben Resources Announces Completion of Phase 1 Drill Program at Justin Gold Project, Yukon
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