2012-11-08 15:28:16 -
VANCOUVER, BC -- (Marketwire) -- 11/08/12 --
Aben Resources Ltd. /
Aben Resources Ltd. : Aben Continues to Expand POW Gold Zone at its Justin
Gold
Project, Yukon
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Suite2230, 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA
www.abenresources.com :
www.abenresources.com
Trading Symbol (TSX-V: ABN), (Frankfurt: E2L)
Email:
info@abenresources.com : mailto:info@abenresources.com
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:
www.abenresources.com/i/maps/ABN-Justin.jpg :
www.abenresources.com/i/maps/ABN-Justin.jpg
Highlights:
* 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:
www.abenresources.com/i/maps/Pow_Zone_Highlights_Sep_2012.jpg :
www.abenresources.com/i/maps/Pow_Zone_Highlights_Sep_2012.jpg
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:
www.abenresources.com/i/photos/Aben_Projects_Justin_Section_7.jp .. :
www.abenresources.com/i/photos/Aben_Projects_Justin_Section_7.jp ..
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:
www.abenresources.com/i/photos/Aben_Projects_Justin_Section_5.jp .. :
www.abenresources.com/i/photos/Aben_Projects_Justin_Section_5.jp ..
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 |
+----------+--------+------+------------+--------+------+---------+
| JN12018 | 197.6 |201.5 | 3.9 | 0.23 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 202.0 |209.9 | 7.9 | 0.39 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 211.7 |223.2 | 11.5 | 1.38 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 215.8 |219.6 | 3.8 | 1.42 | 0.3 | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 223.9 |226.2 | 2.3 | 1.62 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 227.1 |249.0 | 21.9 | 1.06 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 229.1 |231.7 | 2.6 | 0.79 | 1.8 | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 251.0 |252.0 | 1.0 | 0.51 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 253.0 |254.3 | 1.3 | 0.36 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 256.5 |258.3 | 1.8 | 1.48 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 260.0 |263.6 | 3.6 | 0.46 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 264.4 |272.0 | 7.6 | 0.49 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 272.9 |276.9 | 4.0 | 1.38 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 272.9 |273.2 | 0.3 | 14.40 | 0.1 | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 277.4 |279.0 | 1.6 | 0.70 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| JN12019 | 102.0 |104.4 | 2.4 | 2.44 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 102.0 |102.6 | 0.6 | 6.68 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 135.9 |136.3 | 0.4 | 2.83 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 137.5 |138.9 | 1.4 | 0.31 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 162.8 |163.4 | 0.6 | 1.09 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 175.5 |177.8 | 2.3 | 1.29 | | NQ |
+----------+--------+------+------------+--------+------+---------+
|including | 176.8 |177.8 | 1.0 | 2.08 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 178.5 |179.9 | 1.4 | 0.54 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 194.2 |199.4 | 5.2 | 0.10 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 207.0 |210.0 | 3.0 | 0.51 | | NQ |
+----------+--------+------+------------+--------+------+---------+
|including | 208.5 |210.0 | 1.5 | 0.91 | | 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:
www.abenresources.com/i/maps/Justin_Geophysics_Compilation_Mag.j .. :
www.abenresources.com/i/maps/Justin_Geophysics_Compilation_Mag.j ..
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:
www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg :
www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg
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.
TerraLogic Exploration:
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 :
www.abenresources.com .
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
JAMES G. PETTIT
President
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 :
www.sedar.com .
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aben Resources Ltd. via Thomson Reuters ONE
[HUG#1656063]
For further information contact:
Jordan Trimble
Aben Resources Ltd.
Corporate Development and Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: Email Contact :
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