Aben Resources Announces Completion of Phase 1 Drill Program at Justin Gold Project, Yukon
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
Aben has just completed its phase one, ten hole diamond drill program on its 100% owned Justin Gold Project located within 10 kilometres of Northern Tiger’s (TSX-V: NTR) 3Ace Gold Project. Two additional holes were drilled to test the newly discovered POW Zone and assays are pending for all ten holes. The majority of the drilling was conducted on zones that have never before been tested by diamond drilling. Encouraging mineralization was noted in many holes.
Field crews had recently focused on prospecting and mapping the POW Zone, a new discovery made in 2010. Follow-up work on the POW Zone led crew members to investigate the source of a strong EM geophysical conductor outlined by an airborne survey conducted in 2010. Along strike of a strong EM lineament, a 10m-wide zone of mineralized quartz breccia was discovered. The breccia exploits the contact zone between altered phyllite and a strongly silicified quartz pebble conglomerate. The breccia matrix is silica-flooded and is mineralized by pyrite, arsenopyrite, galena (lead), and sphalerite (zinc). The newly-discovered zone is considered to be a favourable target for gold and silver mineralization.
Justin Gold Project Location Map:
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.
Rusty Springs Silver-Base Metal Project, Yukon
The Company will soon commence an 1800 line-kilometre, high-resolution, heli-borne magnetic survey on its 2,718 acre Rusty Springs Project. A four man crew has been mobilized to carry out the survey on the property which will take about a week to complete. The current Rusty Springs regional area of interest has only had historic low-resolution, regional-scale airborne geophysical surveys completed on it. The geology of the Rusty Springs Project is favourable for a magnetics survey to help define stratigraphy, structure and the possible presence of buried intrusives, which are interpreted to be related to the high-grade mineralization present on 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.
Selwyn Recce Gold-Silver Project - Northwest Territories (NWT)
Eighteen high priority targets have been identified to date on the Selwyn Recce Project and have been the focus of the 2011 exploration efforts. These targets were identified as a result of Aben’s proprietary geochemical database. 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.
Aben’s NWT Selwyn Recce Prospecting Permits:
A twenty man field crew has now carried out a very large scale regional reconnaissance program that includes geological mapping, regional prospecting and geochemical as well as geophysical surveys. The geochemical and geophysical results from this year’s program are still pending and will be released when the Company receives them. A detailed technical report is being prepared by Aben’s geologists that will compile all of the data acquired from the field work in preparation for next year’s exploration program.
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 that has been 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 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 2011 exploration programs on its properties is approximately $5 million.
Technical aspects of this news release have been reviewed and approved by Tim J. Termuende, P.Geo.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company developing properties in the Yukon and Northwest Territories.
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.