Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (Frankfurt: E2L) (OTC Pink: ABNAF) (the “Company”) is pleased to announce additional drill results from its 2012 exploration program at its 100% owned, 18,314-acre flagship Justin Project within the Tintina Gold Belt in southeast Yukon.
The first phase of drilling, totaling 1,298 metres in six holes within the POW Zone, was completed in August. Assay results from the first 2012 drill hole were previously reported (see News Release dated August 16, 2012), while results of the remaining five holes are reported here with gold mineralization being intersected in all but one hole which was abandoned before reaching target depth. A second phase of drilling at the Justin Project is currently underway with three additional holes completed so far. Assay results are pending.
Justin Gold Project Location Map:
- Gold mineralization has been intersected in all seven completed holes at the POW Zone (one hole was abandoned due to poor ground conditions).
- POW Zone West drill hole JN12016, located more than 150 metres south of northernmost hole JN11010, intersects 5.3 metres of 4.12 g/t gold.
- The presence of both a shallowly buried intrusion and an Intrusion Related Gold System (IRGS) is confirmed by consistent IRGS mineralogy/alteration and sheeted veining observed in drill core and surface mapping (multi-phased gold mineralization is present at the Justin Project).
- Results from drill holes JN12012-JN12016 continue to demonstrate the potential for sizable zones of gold mineralization at the POW Zone including possible zones of gold mineralization hosted within the multi-kilometric intrusive stock.
- Intense and widespread alteration observed in drill core and surface mapping substantiates the multi-kilometric intrusive contact zone as a high-priority drill target.
- A second phase of drilling is currently underway with a focus on expanding the POW Zone West. This zone remains open in all directions and has shown notable consistency of gold mineralization in each of the four reported holes from this zone to date.
Discussion of POW Zone West and Results from Drill Hole JN12016:
Hole JN12016 was drilled to test the potential for skarn hosted gold mineralization south of previously reported holes JN11009, JN11010 and JN12011. Drill hole JN12016 was successful in intersecting skarn-hosted sheeted veining which returned a significant result of 5.3 metres of 4.12 g/t gold. This is interpreted as the southernmost intersection to date at the POW Zone West as the hole was collared over 150 metres from the northernmost hole JN11010.
Justin Project Cross Section of POW Zone Drill Hole JN12016:
The first four holes testing the POW Zone West have all intersected significant gold intervals near surface with notable consistency and continuity of the auriferous skarn mineralization in each hole. Discovery hole JN11009 returned 60.0 metres of 1.19 g/t gold, hole JN11010 returned 11.3 metres of 2.7 g/t gold, hole JN12011 returned 46.4 metres of 1.49 g/t gold, and now JN12016 has intersected 5.3 metres of 4.12 g/t gold. All of the holes planned in the current second phase of drilling will focus on expanding this mineralized zone as it remains open in all directions.
Justin Project Plan View of POW Zone Drilling:
Discussion of POW Zone East and Results from Drill Holes JN12013-JN12015:
Holes JN12012, JN12013 and JN12014 were drilled to test the original POW Zone surface showing, dubbed the “POW Zone East”, and all intersected zones of gold mineralization. Discovered in 2010 through a surface sampling program, this zone is located 400 metres southeast of the intersection in discovery hole JN11009. Holes JN12012 and JN12014 were drilled to test the down dip extension of the POW Zone East and to test newly discovered auriferous veins west of the original showing. Both JN12012 and JN12014 intersected a zone of sheeted veining hosted both within near-surface skarn mineralization and the intrusive stock at depth. Drilling indicates the structure extends to a depth of at least 165 metres and that it has the potential to host gold mineralization.
The POW Zone represents the known northern limit of a large property-scale structure, extending over two kilometres southward to the Main Zone skarn showing. Hole JN12013 was drilled at an azimuth of 260 degrees to test sheeted veins occurring on surface. JN12013 was successful in delineating a zone of near-surface sheeted veins, not previously sampled. Hole JN12015 was abandoned shortly after it commenced due to difficult drilling conditions and as a result no significant results were returned.
Significant results from JN12012-JN12016 are summarized below in the table below:
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)|
|JN12015||No Significant Results - Hole Abandoned|
* 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
Discussion of POW Zone Geology and Intrusion Related Gold Systems:
In addition to skarn-hosted gold mineralization other characteristics of IRGS mineralization, such as sheeted veining, have been observed at the Justin property in drill core and on surface both within the intrusion and the surrounding country rock. These indicate zones of structural preparation, presenting prospective targets for IRGS mineralization. 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 property tenure is contiguous with Northern Tiger Resources’ (TSX-V: NTR) 3Ace Gold Project.
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 gold including 21.0 metres of 2.47 g/t gold in hole JN11009. The first hole drilled during the 2012 season, JN12011, returned 46.4 metres of 1.49 g/t gold including 9.2 metres of 3.88 g/t gold, successfully tracing gold mineralization at the discovery zone an additional 85 metres laterally to the west.
In conjunction with diamond drilling, 2012 exploration activity to date has also included prospecting, detailed mapping, ground geophysical surveying and the construction of an exploration camp adjacent to the Nahanni Range Road.
Qualified Person and Quality Assurance:
Carl Schulze, 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, “Metallic Screen Fire Assay” analysis was utilized. 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. An aggressive 2012 follow-up surface exploration and diamond drilling program is currently underway.
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.