Aben Resources Exploration Update at Justin Gold-Silver-Tungsten Project, Southeast Yukon
Vancouver, BC - Aben Resources Ltd. (TSX-V: ABN) (OTC Pink: ABNAF) (Frankfurt: E2L) is pleased to announce an update to its 2014 exploration program at its 100% owned 18,314 acre Justin gold-silver-tungsten project. The project area is located in southeast Yukon within the Tintina Gold Belt approximately 35 kilometers southwest of the Cantung Mine and is accessed by an all-season road.
Aben’s Justin property is host to numerous styles of intrusion-related mineralization (IRGS), most notably the newly-discovered auriferous gold-silver-tungsten skarn and sheeted vein system which comprise the POW zone. The Justin property area includes the POW, Confluence, Main and Kangas zones which form part of a 12 kilometer-long mineralized corridor. The property area is 35 kilometers from North American Tungsten Corp.’s Cantung tungsten-copper-gold mine, with other significant projects in the area including Golden Predator’s Sprogge and 3-Aces properties. With excellent infrastructure and an active mine with similar geology nearby, Aben’s Justin project boasts highly-prospective near-surface exploration targets for both gold and tungsten.
The goals of the 2014 exploration program at the Justin project were as follows:
- To assess the potential for Au (gold) mineralization at surface within the POW Zone skarn through surface trenching;
- To assess the potential for Au mineralization within the Justin Stock 200 meters south of the POW Zone;
- To expand geochemical survey coverage in proximity to known mineral showings;
- To make a preliminary assessment of the property for economic W (tungsten) mineralization and re-sample core, previously drilled, for W specific analysis.
Summary of Exploration Activities:
Work completed during the 2014 exploration program included the collection of 60 channel samples from 4 trenches, 24 rock samples, re-analysis of 230 drill core samples, 4 silt samples and 151 soil samples with coverage totaling 7.2 line kilometers. The program was focused on two areas, the POW Zone and the Big Swifty Zone, where previous exploration by the Company has shown the potential for intrusion related gold mineralization at surface.
Assays from the 2014 trenching program returned encouraging results defining gold-bismuth-tellurium bearing sheeted vein systems at surface within the Justin Granodiorite stock and adjacent POW Zone skarn.
Trenches TR14-001 and TR14-002 were designed to follow up on a grab sample collected in 2012 which returned 22.2 g/t Au from sheeted veins within the Justin Stock Granodiorite. Both TR14-001 and TR14-002 successfully delineated gold-tellurium-bismuth bearing sheeted vein arrays at surface within the Justin Stock extending the prospect 225 meters south along strike from the original POW Zone discovery outcrop. TR14-003 was designed to evaluate sheeted vein arrays hosted within calcareous chert, a rock unit which defines the upper contact of the POW Zone skarn. Well-developed sheeted vein arrays were sampled; however TR14-003 returned no significant results. TR14-004 was designed to evaluate sheeted vein arrays hosted within the POW Zone skarn, the main exploration target on the Justin property. TR14-004 successfully delineated gold-tellurium-bismuth bearing sheeted vein arrays within the skarn extending gold mineralization at surface 50 meters north from that defined in diamond drill holes JN12013 and JN12014 (see news release September 25th, 2012).
The intrusion related gold system is comprised of a series of sheeted vein arrays emanating from the Justin Stock into the contact aureole skarn. Gold mineralization is currently defined within the sheeted vein arrays and the skarn over an area measuring 400 meters by 500 meters, and extends from surface to depths in excess of 200 meters.
In addition several high-priority exploration targets within 1 kilometer of the POW Zone, as defined by geophysics and geochemistry, remain untested and represent significant potential for expanding the current extent of the intrusion related gold system.
Table 1 - Trench Summary Results
|Zone||Trench||Easting||Northing||Composite Channel Sample Results|
|POW||TR14-001||546710||6839235||0.33 g/t Au over 6.70m, including|
|POW||TR14-001||546710||6839235||0.59 g/t Au over 3.10m, including|
|POW||TR14-001||546710||6839235||0.96 g/t Au over 0.50m|
|POW||TR14-002||546737||6839240||0.23 g/t Au over 4.00m, including|
|POW||TR14-002||546737||6839240||0.95 g/t Au over 0.50m|
|POW||TR14-003||546650||6839490||No Significant Results|
|POW||TR14-004||546650||6839475||0.92 g/t Au over 13.15m, including|
|POW||TR14-004||546650||6839475||1.15 g/t Au over 7.90m, also including|
|POW||TR14-004||546650||6839475||2.76 g/t Au over 1.90m|
* g/t = grams per metric tonne
Examination of drill core using short wave ultraviolet lights in 2012 revealed visible scheelite (calcium tungstate) mineralization disseminated within the POW Zone Skarn and sheeted vein arrays. Review of the 2011 - 2012 drill hole geochemical dataset indicated that anomalous concentrations of tungsten were reported in the multi-element ICP analysis from several intervals within the POW zone skarn.
With the Justin project being 30 kilometers south of North American Tungsten Corporations world-class Cantung tungsten deposit, the Company felt it prudent to re-sample select intervals of drill core identified as “anomalous tungsten concentrations (> 200 ppm W)” within the ICP dataset. A total of 230 samples from 7 drill holes were selected for analysis using pressed pellet XRF and fusion XRF analytical techniques and will provide a preliminary assessment of the potential for economic tungsten mineralization within the POW Zone. Assay results are currently pending.
Qualified Person and Quality Assurance:
Mike McCuaig, P.Geo., Justin Project geologist and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this release.
All samples were submitted to ALS Minerals in Whitehorse for preparation. Geochemical analysis was completed at ALS Minerals Laboratory in Vancouver. The following analytical techniques were used for all rock samples: ME-MS41, Au-AA23 30 g Fire Assay, Au-GRA21 30 g Fire Assay for all samples > 10 ppm Au, ME-OG46 for all samples > 10,000 ppm Zn, Zn-VOL50 for all samples > 300,000 ppm Zn, W-XRF05 for all samples > 200 ppm W in the ME-MS41 analysis and W-XRF10 for all samples > 5000 ppm W in the W-XRF05 analysis. The following analytical techniques were used for all soil and silt samples: ME-MS41, Au-ST43 and Au-AROR43 for all samples > 1 ppm Au. The Company’s QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip/channel samples. A minimum of one standard sample and one blank sample were inserted for each trench.
About Aben Resources:
Aben Resources Ltd. is a Canadian gold-silver-tungsten and uranium exploration company with projects in the Yukon, NWT and Saskatchewan’s Athabasca Basin.
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
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.
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