Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (Frankfurt: E2L) (OTC Pink: ABNAF) (the “Company”) announces its phase two drill results from its 2012 exploration program at its 100% owned, 18,314-acre Justin Gold Project within the Tintina Gold Belt in southeast Yukon.
A total of 1,994 metres was drilled in nine holes during the 2012 field season with all seven drill holes that were completed to their target depths successfully intersecting gold mineralization while two holes were abandoned due to difficult ground conditions. Including the two discovery holes drilled during the 2011 field season, all nine holes completed to target depths at the POW Zone have intersected gold mineralization in this expanding zone which remains open in all directions.
Justin Gold Project Location Map:
- All holes drilled to completion in the POW Zone thus far have successfully intersected gold mineralization.
- Hole JN12018 intersected significant replacement style gold mineralization approximately 50 metres north of holes JN11009 and JN11010 including a mineralized interval returning 88.5 metres of 0.73 g/t gold (uncut gold grade).
- The POW Zone continues to exhibit strong continuity of mineralization and remains open in all directions.
- Mineralization has been traced along surface for approximately 450 metres west-east by 200 metres north-south and to 205 metres depth.
- The vast majority of the intrusive stock and its surrounding contact aureole at the Justin Project have yet to be tested and remain very high priority targets for future exploration and drilling.
Discussion of Drill Holes JN12017 - JN12019:
The first hole of the second phase program, hole JN12017, was abandoned prior to reaching target depth due to poor ground conditions. The second hole, JN12018 was collared to test the desired target sought in hole JN12017 and, using HQ coring equipment, was successful in doing so.
Justin Project Plan View of POW Zone Drilling:
Hole JN12018 intersected significant skarn replacement style mineralization approximately 50 metres north of discovery holes JN11009 and JN11010 which returned 60 metres of 1.19 g/t Au and 11.3 metres of 2.7 g/t Au respectively. Gold mineralization within JN12018 is preferentially hosted within altered calc-silicate strata of similar character to that observed in JN11009, JN11010 and JN12011. Of particular interest is the overall continuity of mineralization throughout the calc-silicate horizon. Uncut gold grade across the entire mineralized interval in hole JN12018 returned 88.5 metres of 0.73 g/t Au, reflecting the overall importance of this horizon in the POW Zone. Within this wider mineralized zone there were shorter intervals including 21.9 metres of 1.06 g/t Au as well as 11.5 metres of 1.38 g/t Au. This drill interval is the northernmost intersection to date at the POW Zone. Significant intersections from hole JN12018 are presented in the table below.
Justin Project Cross Section of POW Zone Drill Hole JN12018:
Hole JN12019 was collared with an intended target 50 metres south of the interval reported from previously reported hole JN12011 which returned 46.4 metres of 1.49 g/t Au. The hole intersected the calc-silicate horizon and gold mineralization at the anticipated target depth; however grades of mineralization were more erratically distributed through the zone. Significant intersections from JN12019 are presented in the table below.
Justin Project Cross Section of POW Zone Drill Hole JN12019:
The 2012 exploration program was successful in intersecting gold mineralization both in structurally controlled sheeted veins and skarn style replacement settings. All holes drilled to completion in the POW Zone to date have intersected significant gold mineralization. The results indicate that a notable and developing discovery has been made on the Justin property in an area described by geologists as an underexplored, emerging gold district within the Yukon Territory. Northerly dipping, stratabound mineralization has been traced along surface for approximately 450 metres west-east by 200 metres north-south and to 205 metres depth.
Significant results from JN12017-JN12019 are summarized in the table below:
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Cu (%)||Core Size|
|JN12017||No Significant Results - Hole Abandoned||NQ|
* g/t = grams per metric tonne
* Au intercepts were calculated using a 0.1 g/t Au cut-off grade
* The reported results above are down-hole interval lengths; true widths for the mineralized intercepts are not yet known
Jim Pettit, President of Aben Resources, stated: “The Company is very pleased with the drilling to date and how quickly an understanding has been gained with respect to mineralizing controls at the Justin Property. The POW gold zone is rapidly expanding and with everything learned this season we believe we have just scratched the surface of this exciting new greenfield discovery. Aben will be diligently working to compile and further interpret all of the geological and drill data gathered this year on the Justin property as the Company is slated to give a detailed technical presentation at the upcoming Yukon Geosciences Forum in Whitehorse in a couple of weeks.”
Discussion of POW Zone Geology and Intrusion Related Gold Systems:
In addition to skarn-hosted gold mineralization, other types of IRGS mineralization, such as sheeted veining, are present at the Justin property both within the intrusion and the surrounding country rock. These indicate zones of structural preparation and provide for numerous prospective drill targets at the project. There are also large untested geophysical anomalies, considered high-priority targets, proximal to the POW discovery zone.
Justin Project Geophysics and Areas of Interest for Drilling:
Producing IRGS deposits within the Tintina Gold Belt include Kinross’ Fort Knox operation in Alaska, with reported proven and probable reserves of 314Mt grading 0.43 g/t Au, representing 4.3 million ounces of contained gold (Kinross Mineral Reserve and Resource Statement, December, 2011). Advanced IRGS projects in the Yukon include Victoria Gold’s Eagle Gold Deposit with an NI 43-101 compliant indicated resource of 4.8 million ounces of gold and inferred resources of 1.5 million ounces of gold. (Victoria Gold website, September, 2012). Readers are cautioned that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Justin property.
Justin Property Location and Previous Exploration on the Project:
The Justin property is located in the southeast Yukon within the Tintina Gold Belt approximately 35 kilometres southeast of the Cantung Mine and is accessed by an all-season road.
Justin Project Claims Map:
In 2011, a first-pass drill program consisting of 2,020 metres in ten drill holes targeting four separate mineralized zones was completed on the Justin Project. The previously reported drill hole results indicate that the POW Zone represents a significant new greenfield gold discovery. Highlights from that program include 60.0 metres of 1.19 g/t Au including 21.0 metres of 2.47 g/t Au in hole JN11009. The first hole drilled during the 2012 season, JN12011, returned 46.4 metres of 1.49 g/t Au including 9.2 metres of 3.88 g/t Au, successfully tracing gold mineralization at the discovery zone an additional 85 metres laterally to the west.
In conjunction with diamond drilling, 2012 exploration activity completed to date has also included the acquisition of a five year exploration permit, prospecting, detailed mapping, ground geophysical surveying and the construction of an exploration camp adjacent to the Nahanni Range Road on the property.
Qualified Person and Quality Assurance:
Tim J. Termuende, P.Geo., is a Director and the Qualified Person for Aben Resources’ Justin Project as defined by National Instrument 43-101, has reviewed and approved the technical information in this release. Rock and drill core analysis was conducted by ALS Minerals Canada. Samples were analyzed for multiple elements by aqua regia 35 element ICP-AES and for gold by 30 gram fire assay with AA finish. Gravimetric fire assay was done for samples returning greater than 10 g/t Au from ICP-AES analysis. When visible gold was noted in drill core or rock samples, and where fire assay results returned grades > 5.0 g/t Au, “Metallic Screen Fire Assay” analysis was utilized. Screen metallic assay results are accepted as the most representative value and are used in the geochemical database. The Company has implemented a quality assurance and quality control (QA-QC) program to ensure that the sampling and analysis of all samples is conducted in accordance with industry best practices, including insertions of blank, standard, and duplicate samples.
Aben has engaged TerraLogic Exploration Inc. to oversee all aspects of the 2012 exploration and drilling programs on the Company’s Yukon projects. TerraLogic has been operating mineral exploration projects in North America since 1992 and has extensive experience in the Yukon and NWT.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company exploring and developing its portfolio of properties in the Yukon and NWT in which it has exploration rights to more than 600,000 acres of land. The Company’s road-accessible flagship property, the Justin Gold Project, boasts a new greenfield discovery made in 2011.
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.
Corporate Development and Communications
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.