[Marinir] {Disarmed} Aben (TSX-V: ABN) Drills 46.6 Metres of of 1.49 g/t Gold
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Thu Aug 16 16:49:52 CEST 2012
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Aben Drills 46.6m of 1.49 g/t Au including 9.2m of 3.88 g/t Au at Justin
Project, Yukon, and Extends the POW Discovery Zone by 85m
Aben Resources Ltd. (TSX-V: ABN
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=ABN®ion=C&lookup=symbol&snapshot=default
) (Frankfurt: E2L) (OTC Pink: ABNAF
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=ABNAF®ion=u&lookup=symbol&snapshot=default
) is pleased to announce results from its first drill hole of the 2012
exploration program at its 100% owned, 18,314 acre flagship Justin
Project in the southeast Yukon within the Tintina Gold Belt. Thus far, a
total of 1298 metres of drilling has been completed in six holes within
the POW Zone this season. Assay results for the first hole (JN12011)
have now been received, with results pending for the additional five
holes.
Justin Gold Project Location Map:
http://www.abenresources.com/i/maps/ABN-Justin.jpg
http://www.abenresources.com/i/maps/ABN-Justin.jpg
Highlights:
Results from the first hole JN12011 returned 46.4 metres grading 1.49
g/t Au including 9.2 metres grading 3.88 g/t Au at a vertical depth of
approximately 100 metres.
Gold hosted by skarn replacement mineralization in the western POW Zone
has been extended laterally by up to 85 metres with this hole and
remains open in all directions.
The first three holes ever drilled into the POW Zone have successfully
intercepted significant gold intervals showing notable consistency and
continuity of mineralization within the holes.
Presence of shallowly buried intrusion and an Intrusion Related Gold
System (IRGS) confirmed by consistent IRGS mineralogy/alteration and
sheeted veining as observed in drill core and surface mapping
(multi-phased gold mineralization present at the Justin Project).
Intense and widespread alteration observed in drill core and surface
mapping substantiates the multi-kilometre intrusive contact zone as a
high-priority drill target.
Surface sample MMJNR036, with noted visible gold, assays 3.66 g/t Au in
eastern POW Zone. Assay results are pending for drill holes designed to
further test this surface anomaly located 400+ metres southeast of hole
JN12011.
Discussion of POW Zone and the Results from Drill Hole JN12011:
The first hole of the 2012 program, JN12011, has intercepted a robust
zone of gold mineralization at the POW Zone and has successfully
extended the massive sulphide skarn gold mineralization discovered
during the 2011 program up to a distance of 85 metres from last year's
drilling. The two drill holes last season at the POW Zone, including
discovery hole JN11009 which returned 60.0 metres of 1.19 g/t Au, and
the first hole this season have all intercepted significant gold
intervals in this rapidly expanding zone. Furthermore, the notable
consistency of the skarn-hosted gold mineralization seen amongst these
initial three drill holes at the POW Zone suggests strong continuity of
the mineralized zone.
Justin Project Plan View of POW Zone Drilling:
http://www.abenresources.com/i/maps/ABN-Justin-Project-Plan-View-of-2012-Pow-Zone-Drilling.jpg
http://www.abenresources.com/i/maps/ABN-Justin-Project-Plan-View-of-2012-Pow-Zone-Drilling.jpg
Hole JN12011 was also successful in confirming the presence of a
shallowly buried granitoid intrusion immediately underlying the POW
Zone. Detailed mapping to the south of the POW Zone has since confirmed
the presence of the intrusive body at surface. The contact zone of the
intrusion with the surrounding carbonate country rocks is now a primary
drill target as it is an important control on the skarn-replacement
mineralization observed in the first three holes at the POW Zone. This
contact zone remains open along strike, down dip and to surface. Assays
are pending for holes JN12012 and JN12014 which were drilled to further
test encouraging surface sample results in an area 400+ metres southeast
of hole JN12011. Visually encouraging mineralization and structure were
noted in the drill core in both holes.
Justin Project Cross Section of POW Zone Drill Hole JN12011:
http://www.abenresources.com/i/maps/ABN-Justin-Project-Cross-Section-Hole-JN12011.pdf
http://www.abenresources.com/i/maps/ABN-Justin-Project-Cross-Section-Hole-JN12011.pdf
Significant results from a portion of Hole JN12011 are presented below,
with complete assay intervals available on the Aben website:
Drill Hole From (m) To (m) Interval (m) Gold (g/t)
JN12011 131.6 178.0 46.4 1.49
including 145.5 160.5 15.0 3.08
also including 147.5 156.7 9.2 3.88
* 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 first hole of the
2012 drill program has been successful in intercepting a strongly
mineralized gold interval and expanding on the greenfield gold discovery
we made last year by 85 metres. We are very pleased with the continuity
that the gold mineralization shows from surface mapping and drill
results obtained to date. We are also encouraged by the proximity of
mineralization to the intrusion and the implications this has for gold
mineralization potential in other places on the property as the
intrusive body shows significant size potential."
Justin Project Cross Section of Drill Holes JN11009, JN11010 and
JN12011:
http://www.abenresources.com/i/maps/ABN-Justin-Project-Cross-Section-Holes-JN11009-JN11010.pdf
http://www.abenresources.com/i/maps/ABN-Justin-Project-Cross-Section-Holes-JN11009-JN11010.pdf
Besides skarn-hosted gold mineralization, other characteristics of IRGS
deposits such as sheeted veining have been observed at the Justin
Project in drilling and on surface, both within the intrusion and the
surrounding country rock. These structural zones present prospective
targets for IRGS mineralization. Holes drilled subsequent to JN12011
with pending assay results have been designed to test both skarn-related
and structurally- controlled vein mineralization. There are also large
untested geophysical anomalies proximal to the POW discovery zone, which
are considered high-priority targets.
Justin Project Geophysics and Areas of Interest for Drilling:
http://www.abenresources.com/i/maps/Justin_Geophysics_Compilation_Mag.jpg
http://www.abenresources.com/i/maps/Justin_Geophysics_Compilation_Mag.jpg
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
Golds' Eagle Gold Deposit, with reported reserves of 2.3 million ounces
of gold, indicated resources of 4.8 million ounces of gold and inferred
resources of 1.5 million ounces of gold (Victoria Gold website, August,
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.
In conjunction with diamond drilling, 2012 exploration activity so far
has included prospecting, detailed mapping, ground geophysical surveys
and the construction of an exploration camp adjacent to the Nahanni
Range Road.
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:
http://www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg
http://www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg
In 2011, a first-pass drill program consisting of ten drill holes was
completed on the Justin Project to test four different mineralized
areas. The previously reported drill hole results indicated that a
significant new greenfield gold discovery was made at the POW Zone.
Highlights from that program included 60.0 metres of 1.19 g/t gold
including 21.0 metres of 2.47 g/t gold in hole JN11009.
Updated Selwyn Recce Project Agreement
The Company announces an agreement with Eagle Plains Resources Ltd. with
respect to a base metal exploration program on its 55 Northwest
Territories mineral claims, which specifically includes all
carbonate-hosted and/or sedimentary exhalative-style silver-lead-zinc,
or other base-metal targets and/or sediment-hosted copper targets (the
"Sedex Minerals"). Pursuant to the terms of the Agreement, all costs
associated with the Sedex Minerals exploration program will be shared
equally and the parties shall each own a 50% interest in the Sedex
mineral rights to the Property.
Qualified Person and Quality Assurance:
Tim J. Termuende, P.Geo., is a Director and the Qualified Person for
Aben Resources as defined by National Instrument 43-101 and 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 is
completed for samples measuring greater than 10 g/t Au. When visible
gold is noted in drill core or rock samples, metallic screen assay
method is used. The Company has implemented a quality assurance and
quality control 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 over 600,000 acres of land.
The Company's road-accessible flagship property, the Justin Gold
Project, boasts a new greenfield discovery made in 2011 with an
aggressive 2012 follow-up exploration and drill program currently
underway.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our
Company's web site at www.abenresources.com
http://www.abenresources.com
.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
____________________________
JAMES G. PETTIT
President
For further information contact myself or:
Jordan Trimble
Aben Resources Ltd.
Corporate Development and Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
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
http://www.sedar.com/
.
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