Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (FWB: E2L) (the “Company”) is pleased to announce an update on its ongoing exploration programs in the Yukon and Northwest Territories (NWT) projects.
Aben’s Yukon and NWT Properties Claims Map:
Justin Gold Project, Yukon
A 2000 metre diamond drill program is planned to commence at Aben’s 100% owned, 4,114 acre Justin Gold project on August 8th, 2011. Located within 10 kilometres of Northern Tiger’s (TSX-V: NTR) 3Ace gold project, the Justin project has the potential to host significant epithermal, skarn and sediment hosted gold mineralization. Historic work on the property has exhibited this potential with grab samples returning up to 59 g/t Au and a continuous chip sample returning 2.38 g/t Au over 22.5 metres. Channel sampling in 2010 again encountered significant gold mineralization including 1.4 g/t Au over 11 metres and 2.07 g/t Au over 7 metres.
Justin Gold Project Location Map:
The 2011 activities represent the first serious drilling campaign on the project since a small four hole program was completed on the “Main Zone” in the mid-1980’s. The majority of the drilling will be conducted on new zones that have never before been tested by diamond drilling.
Rusty Springs Silver-Base Metal Project, Yukon
The initial phase of the 2011 field work has now been completed at the 2,718 acre Rusty Springs project. Phase 1 work included refurbishing the project’s airstrip, structural mapping and a review of the historic drill core from the property. Past drilling highlights from the property include 1,140 g/t (33.27 oz/t) silver, 2.30% copper and 4.72% lead over 37.5 metres (123 feet) from surface to a depth of 37.5 metres.
An 1800 line kilometre high resolution, heli-borne magnetic survey is planned for the project. An updated schedule has the survey commencing mid-August with a diamond drill program to follow.
Aben is earning a 100% interest in the Rusty Springs Property from Eagle Plains Resources Ltd. (TSX-V: EPL). The property is located north of Dawson City, Yukon.
Selwyn Recce Gold-Base Metal Project - Northwest Territories (NWT)
Aben’s Selwyn Recce project is comprised of the previously announced NWT Permits totaling 426,821 acres of highly prospective ground (see news release dated Feb. 14, 2011) as well as additional land currently being staked 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.
Aben’s NWT Selwyn Recce Prospecting Permits:
Eighteen high priority targets have been identified to date on the Selwyn Recce project which will be the focus of the 2011 exploration efforts. These targets were identified as a result of Aben’s recently acquired proprietary geochemical database, with an estimated replacement cost of over $2.5 million. All in all, this has allowed the Company to advance the Selwyn Recce Project by at least a year in terms of the time required to identify these targets.
Field crews have been carrying out a very large scale regional reconnaissance program that includes geological mapping, regional prospecting and geochemical surveys. To date, a lot of ground has been covered with seven targets having been assessed already while another eleven high-priority targets have yet to be investigated. Geochemical results are still pending on all the samples taken and should start being returned within the next couple of weeks.
A geophysical survey, consisting of airborne helicopter magnetics, will be completed over the most prospective target to help identify mineralization controlling structures and/or suspected buried intrusions. The airborne geophysical crew will be arriving on July 25th with the survey expected to last between 8-11 days depending on the weather.
Aben has 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 has arranged for field crews, support staff, camps, supplies, helicopters and drill rigs to conduct the exploration planned for this year. The Company’s estimated budget for its exploration programs on its properties this summer is approximately $5 million.
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 $4.5 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.