Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (Frankfurt: E2L) (the “Company”) is pleased to announce additional gold and silver drill results from its 100% owned, 11,098 acre Justin Project in the southeast Yukon. The Company recently completed a ten-hole diamond drill program on the property in which a significant greenfield gold discovery was made in the POW Zone (see November 17, 2011 news release).
Justin Gold Project Location Map:
- Both exploratory holes drilled into POW Zone in 2011 intercepted significant gold mineralization constituting a new greenfield gold discovery on Aben’s Justin Project in the Yukon.
- The second hole drilled into POW Zone, JN11010, intercepted 11.3 metres of 2.70 g/t Au and 29.00 g/t Ag starting at a vertical depth of 125 metres. This intercept lies within a larger mineralized zone grading 1.58 g/t Au and 16.00 g/t Ag over 23.0 metres.
- The mineralized intercept in drill hole JN11010 correlates with the upper zone intercepted in previously reported Hole JN11009 of 60 metres of 1.19 g/t Au.
- Gold mineralization is open in all directions at the POW Zone.
- 2011 Surface samples from POW Zone returned up to 8.97 g/t Au and 84.10 g/t Ag
- Positive surface sampling results from 2010 and 2011 are located 400 metres to the east of the new gold discovery in holes JN11009 and JN11010.
- New high grade silver and copper discovery in the Kangas Zone located 1.4 km south of the POW Zone
- Hole JN11003 intercepted 1.07 metres of 7320 g/t Ag (234 oz/ton Ag) and 3.52% Cu near surface in the Kangas Zone.
- As a result of the new gold, silver, and copper discoveries on the Justin Project, Aben has acquired 7,058 additional acres around the original property border which will facilitate an aggressive drill program next season.
Discussion of POW Zone and the Results from Drill Hole JN11010:
JN11010 returned 23 metres of 1.58 g/t Au and 16.00 g/t Ag and was the second diamond drill hole to test the recently discovered POW Zone. The hole was drilled with an azimuth of 250 degrees, an inclination of 60 degrees and to a total depth of 254.50 metres. It was designed to test the mineralized zone discovered initially in Hole JN11009 which returned 1.19 g/t Au over 60 metres (see Nov. 17, 2011 news release). The intercept observed in Hole JN11010 correlates with the upper 5 metre zone grading 1.79 g/t Au in Hole JN11009.
Cross Section of POW Zone Drill Holes JN11009 and JN11010:
Mineralization within the zone is observed as massive skarn-style replacement of silty limestone beds, and quartz-calcite stock-work veining. The stock-work veining observed within the POW Zone parallels a north-northwest trending structural zone, suggesting that it played an important role in focusing hydrothermal fluids derived from the intrusion. The geochemical signature and spatial setting of the mineralized zone further supports an Intrusion Related Gold Model for the POW Zone.
During the 2011 program on the Justin Project, crew members returned to the POW Zone to conduct follow up mapping and prospecting. Diamond drilling of the zone was prompted by two new zones of alteration and mineralization being found 400 metres west of the original POW Zone, which are coincident with one of the geophysical anomalies outlined in the 2010 airborne survey. In addition to the two drill holes completed into the POW Zone, rock samples collected during the 2011 program returned values ranging from trace quantities to significant gold and silver values as high as 8.97 g/t Au and 84.10 g/t Ag, extending the known limits of the zone. To date, work on the POW Zone has outlined a mineralized trend approximately 400 metres long and to a depth of 140 metres below surface coincident with the northern margin of an intrusive stock. The POW Zone is open in all directions and warrants further exploration.
Plan View of Diamond Drill Holes in POW Zone:
As a result of the new greenfield gold discovery made at the Justin Project this season, Aben has staked more claims around the property and in particular around the POW Zone. The Company has recently acquired 7,058 additional acres of mineral tenure in the immediate vicinity of the project. This new ground will facilitate an even more aggressive drill program next season.
Justin Project Claims Map:
Discussion of Kangas Zone and the Results from Drill Hole JN11003:
The Kangas Zone is located 1.4 kilometres south of the POW Zone. Three holes totaling 494.20 metres were drilled from two pads on the Kangas Zone (holes JN11001, JN11002 and JN11003). Difficult ground conditions hampered drilling efforts, and target depths were reached on only one of the three holes. A new high grade silver-copper zone was intercepted in Hole JN11003 which was the only hole to intersect significant mineralization despite being abandoned within the contact of a fault zone. A 1.07 metre interval within the contact zone of the fault returned values of 7320 g/t Ag (234 oz/ton Ag) and 3.52% Cu at a down-hole depth of 42.23 metres. Sample recovery over the interval was only 15%, and therefore results may not reflect the true thickness or tenor of the mineralization. The hole was terminated within the mineralized interval due to extremely poor ground conditions. This newly discovered silver-copper zone is open along strike and follow-up drilling will be conducted next season to further delineate this high grade zone.
The Kangas Zone represents a north-south trending zone of skarn and replacement style mineralization within siltstone, calcareous siltstone and minor limestone located along the north flank of the central ridge of the Justin property. Ground sample values up to 1.6 g/t Au over 1.5 metres and 1.2 g/t Au over 1.0 metre were returned from replacement style arsenopyrite horizons. Mineralization has been traced along a 400 metre by 75 metre north-south extending zone.
Discussion of Main Zone:
The Main Zone is located 2.4 kilometres south of the POW Zone. Three holes totaling 520.20 metres were drilled from one pad testing the Main Zone skarn and porphyry dikes (holes JN11004, JN11005 and JN11006). The primary target for the program was trench SN97-2 which returned historic values of 2.38 g/t Au over 22.5 metres. 2011 drilling returned anomalous gold and copper values from the calc-silicate skarn adjacent to porphyry dikes. Further exploration of this zone is warranted.
Discussion of Confluence Zone:
The Confluence Zone is located 3.3 kilometres southwest of the POW Zone. Two holes, JN11007 and JN11008, totaling 461.00 metres were drilled from one pad in order to test trench SN97-3 which returned 4.24 g/t Au over 4.5 metres. Low-grade gold mineralization was intercepted in both holes confirming historic grades, and proving that the mineralized structures extend to a depth of 115.00 metres below surface. The gold mineralization is structurally controlled and occurs in zones of quartz-sulphide veining and brecciation.
Cross Section of Confluence Zone Drill Holes JN11007 and JN11008:
Significant Intercepts from 2011 Drill Program on the Justin Project:
|Zone||Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (%)|
* 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.
* NSV = no significant values
** Sample recovery over the JN11003 interval was 14.75% so results may not reflect the true thickness or tenor of mineralization. The hole was abandoned at a depth of 43.38 metres due to very poor ground conditions.
Justin Gold Project Previous Exploration Map:
Aben 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 arranged for field crews, support staff, camps, supplies, helicopters and drill rigs to conduct the exploration carried out this year.
Quality Assurance and Qualified Person:
Drill core analysis and assaying was conducted by ALS Minerals Canada in Vancouver, B.C. The drill core was split and sampled in sample intervals ranging from 0.1 to 3.5 metres. All core samples were analyzed by aqua regia 35 element ICP-AES and for gold by 30-gm fire assay with AA finish. Gravimetric fire assay for samples measuring greater than 10,000 ppb Au and measuring greater than 1500 ppm Ag. Ore grade copper concentrations were determined using ICP-AES for samples measuring greater than 10,000 ppm. 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 the best possible practices.
Tim J. Termuende, P.Geo., is the Qualified Person for Aben Resources as defined by National Instrument 43-101 and has reviewed and approved the technical information in this release.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company developing properties in the Yukon and Northwest Territories.
Aben’s Yukon and NWT Properties Claims Map:
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.