Aben Resources Expands Known Mineralization With New Gold-bearing Vein System at the Justin Gold Project, Yukon Territory
VANCOUVER, British Columbia, Dec. 13, 2017 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to provide a summary of exploration results from field work carried out in August 2017 on the 100% owned 18,314 acre Justin Gold Project in southeast Yukon. Highlights include the discovery of a new gold-bearing vein system (Lost Ace) that returned 4.77 g/T (grams/tonne) Au over 1.0 metre. The new Lost Ace zone is located 2 kilometres along strike from the POW Zone, an area that has previously returned drilled intercepts of 1.19 g/T Au over 60 m (including 2.47 g/T Au over 21 m) and 1.49 g/T Au over 46.4 m.
Work completed during the 2017 exploration program included the collection of 21 channel and 3 chip samples from 4 trenches in addition to 13 rock samples, 2 silt samples, 1 bulk soil sample for gold grain analysis and 380 soil samples with coverage totaling 16.8 line-km. The program was focused on two areas, the Lost Ace Zone and the Confluence Zone, where previous exploration by the Company has revealed the potential for intrusion-related and/or orogenic gold mineralization at surface. In addition to the newly discovered areas there are several high-priority exploration targets defined by geochemical and geophysical anomalies that remain untested by drilling.
Justin Gold Project, Yukon location map:
Four trenches were completed in a newly discovered area of stockwork quartz veining that is proximal to a 2014 soil sample which returned 2.4 g/T Au. Assays from the 2017 trenching program returned encouraging results from a zone of quartz-carbonate stockwork veining hosted within coarse-grained clastic metasedimentary rocks of the Hyland Group. TR17-004 returned 1.44 g/T Au over 5.00 m true thickness, including 2.11 g/T Au over 3.85 m true thickness and 4.77 g/T Au over 1.0 m. The gold-bearing vein system occurs in the hanging wall of a contact zone between a coarse grained gritty sandstone and phyllite, a geologic setting that is very similar to mineralization present on Golden Predators 3 Ace Project located immediately NW of the Justin claim group.
A bulk soil sample was collected and sent for gold grain count analysis and classification from a location 115 meters upslope from the Lost Ace Zone. The 3.8 kg sample returned a total of 1135 visible gold grains, which is considered highly anomalous. Of the 1135 gold grains recovered, 1049 gold grains were classified as pristine suggesting that they are within 100 m of the lode source. The proximity of the bulk soil sample containing native gold to the gold-bearing vein system indicates the potential fertility of the structure. The Company is strongly encouraged by these results and plans to send several historic sample pulps for similar analysis to gain further understanding of the new discovery in order that follow-up exploration in 2018 continues to build upon the recent success.
Analytical and QA/QC description
All samples were submitted to ALS Minerals (“ALS”) in Whitehorse, Yukon for sample preparation. Geochemical analyses were completed at the ALS facility in Vancouver, British Columbia. The following analytical techniques were used for all samples: ME-ICP41, Au-AA23 30 g Fire Assay and Au-SCR21 30 g Metallic Fire Assay. The Company’s QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip and channel samples. A minimum of one standard and one blank sample was inserted for each trench. In addition, the lab was instructed to wet-sieve each sample prior to sample preparation in order to minimize contamination from overlying gravels.
A bulk soil/till sample was submitted to Overburden Drilling Management in Ottawa, Ontario and was processed via heavy liquid separation and micro-panning to count visible gold grains and estimate metallic mineral abundances.
Cornell McDowell, P.Geo., V.P. of Exploration for 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.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia, the Yukon Territory, and Saskatchewan. Aben is a well-funded junior exploration company with approximately 53.2 million shares issued and outstanding. For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company’s web site at: www.abenresources.com.
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.