Aben Resources to Begin Forrest Kerr Drill Program in BC's Golden Triangle Region
Vancouver, BC - Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the "Company") is pleased to announce plans for the upcoming summer drill program at its Forrest Kerr Gold Property located in North Western British Columbia's Golden Triangle region. The Company is planning a 2100 metre (6,800') diamond drill program commencing in the first week of August. Field-based exploration activities have been underway earlier this season at Forrest Kerr, where crews completed soil geochemical sampling, ground-truthed historic data and evaluated mineralization potential on a property-wide basis. Focus was placed on those areas containing historic high-grade precious- and base-metal occurrences. Aben currently owns certain mineral tenures outright and has agreements in place with various third-parties whereby it has the exclusive right to a 100% interest in the 23,000 hectare property area.
2100 metre drill program to commence in early August.
Expanding on high-grade Carcass Creek Zone and Boundary Zone results.
Testing of conceptual targets for precious- and base-metal potential.
Potential to expand program.
Drilling will aim to extend known mineralized high-grade horizons located in the Carcass Creek and Boundary Zones. These zones reported some of the best grades on the Forrest Kerr Property and the Company feels there is the potential for the expansion of these known zones based on recent data compilation and field reconnaissance work. There are also some more conceptual targets to be tested south of the Boundary Zone. These entail areas of outcrop with multiple shear zones and abundant sulfides. There is also significant surface sampling associated to this reporting gold grades in the order of 3 - 5 g/t.
Historic drilling at the Forrest Kerr Project ranged from trace values to several high grade intercepts such as an average of 9.97 g/t gold over 29 metres (including 125 g/t gold over 0.8m and 91 g/t gold over 1.9m) in the Carcass Creek Zone and 33.4 g/t gold over 11 metres in the Boundary Zone (including 326 g/t gold over 0.5m).
*Note: Aben has not been able to independently verify the methodology and results from historical work programs within the property boundaries. However, management believes that the historical work programs have been conducted in a professional manner and the quality of data and information produced from them are relevant.
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.
In other news, the Company has made these corrections to its recently closed private placement financings announced July 5th.
The Company has issued 5,815,000 Units at a price of $0.10 per Unit for gross proceeds of $581,500. Pursuant to the Offering, Aben has also issued 6,540,000 flow-through Units at a price of $0.125 per flow-through Unit for gross proceeds of $817,500. In connection with part of this Offering, the Company paid $67,655 in cash finder's fees and issued 568,400 finder's warrants ("Finder's Warrants") to qualified arm's length finders.
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. 46.8 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Aben Resources Ltd.
Director, Investor Relations
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.
You can view the Next News Releases item: Thu Aug 3, 2017, Aben Commences Diamond Drill Program at its Forrest Kerr Gold Project in BC's Golden Triangle Region
You can view the Previous News Releases item: Mon Jul 10, 2017, Aben Receives Exploration Permit for Forrest Kerr Drill Program in BC's Golden Triangle Region, Archaeological Overview Assessment Completed
You can return to the main News Releases page, or press the Back button on your browser.