Aben to Begin Yukon Drill Program on Justin Gold Project in June
Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (OTC Pink: ABNAF) (the “Company”) is providing an update on its upcoming 2012 exploration and drilling program at its 100% owned, 18,314 acre flagship Justin Gold Project. The property is located in the southeast Yukon on the Tintina Gold Belt approximately 35 kilometres southeast of the Cantung Mine and is accessed by an all-season road.
Aben’s Yukon and NWT Properties Claims Map:
The proposed 4,000 metre diamond drill program is on schedule to commence in early- to mid-June. A crew will mobilize to the Justin property at the end of May to initiate the construction of a 20-man exploration camp adjacent to the Nahanni Range Road. This camp will service all exploration activities and will be winterized upon completion of the 2012 field season. The Company has recently received a Class 3 exploration permit for the Justin Project which is current for five years. This is a significant milestone for Aben as it allows the Company to carry out a wide range of exploration activities over the next five years including drilling, trenching, geophysical and geochemical surveys, sampling and prospecting.
Justin Gold Project Location Map:
2012 Justin Project Exploration and Drill Program:
The primary targets for the Justin drill program are the POW and Kangas Zones, with the majority of the drilling to be carried out at the POW Zone. The principal objective of the drilling is to further test the gold and silver mineralization discovered during drilling in 2011 at the POW Zone and to follow-up on the high grade silver and copper mineralization discovered at the Kangas Zone. The exploration program will also include additional geophysical and geochemical surveys as well as geological mapping.
Justin Project Claims Map:
Last year, a first-pass drill program consisting of ten drill holes was completed on the Justin Project to test four different mineralized zones. The previously reported drill hole results from the 2011 program indicated that significant new green-fields gold and silver discoveries have been made in two areas on the property. Highlights include 60.0 metres of 1.19 g/t gold including 21.0 metres of 2.47 g/t gold at the POW Zone, and a 1.07 metre interval of 7320 g/t Ag (234 oz/ton Ag) and 3.52% Cu at the Kangas Zone (1.4 kilometres south of the POW Zone).
Cross Section of POW Zone Drill Holes JN11009 and JN11010:
Multi-phase precious metal mineralization is present in the POW Zone including massive skarn replacement-style mineralization and structurally-controlled stockwork vein hosted mineralization. Both phases of mineralization display geochemical affinity to an Intrusion Related Gold Model and indicate that the mineralizing system was long-lived. The size extent of the porphyry dikes present on the property and their spatial distribution indicate that a multi-kilometric intrusive stock could be present. The Company plans on initial expansion drilling around the two 2011 discovery holes at the POW Zone followed by exploratory drilling of large untested geophysical anomalies proximal to the discovery zone which are considered high-priority drill targets.
Justin Project 3D Geophysical Mag Survey:
The Kangas Zone will also see drilling to follow up on the 2011 discovery of high-grade silver and copper mineralization. The discovery hole was terminated within the mineralized interval due to poor ground conditions and Aben plans to test for a potentially longer true width of this zone in the 2012 drill program.
Upon analyzing the results and data from last year’s field work, the Company’s management and geological team have a much better understanding of the discovery zones which has led to a more structured and focused drill plan in 2012. The Company anticipates a total of 15-20 drill holes in the 2012 drill program at the POW and Kangas Zones.
Summary of 2011 Selwyn Recce Project Exploration Program:
The Selwyn Recce Project is comprised of the previously announced Northwest Territories permits totaling 426,821 acres of ground (see news release dated Feb. 14, 2011) as well as an additional 147,404 acres of land that was staked this season in the Yukon and NWT east of ATAC Resources’ (TSX.V-ATC) Osiris gold zones. Aben’s large land position is considered prospective for the presence of Carlin-type and intrusive-related gold deposits, carbonate and sedimentary-exhalative (“sedex”) style silver-lead-zinc deposits, as well as sediment-hosted copper deposits.
Aben’s NWT Selwyn Recce Prospecting Permits:
Field crews completed a very large scale regional reconnaissance program on the Company’s Selwyn Recce Project in 2011 that included geological mapping, regional prospecting, geochemical surveys and geophysical surveys. Eighteen high priority targets had previously been identified to form the focus of the 2011 exploration efforts. The bulk of the field work was carried out on the high priority targets with many thousands of samples having been collected including 7368 soil samples, 681 rock samples, 668 silt samples, 14 heavy mineral bulk samples, and 51 petrographic analysis samples. All of the obtained data from the 8,782 samples has been imported into a database to allow for geological interpretation and analysis. Aben now possesses the largest proprietary database for the region consisting of over 21,000 samples. The Company also conducted 3,233 line kilometres of airborne magnetic and radiometric geophysical surveys to complement the sampling and prospecting program.
The 2011 field work was successful in delineating four high-priority targets warranting further exploration. Highlights and conclusions from the 2011 exploration program at these five showings include:
- Grab samples from the ENYO target returned a range of assay results from anomalous silver and base metal numbers to as high as 651 g/t Ag and 5.5% Zn.
- The Suriso showing is prospective for intrusion-related gold systems based on favourable geology and geochemical signatures.
- Grab sample assay results ranged from anomalous to as high as 0.4% Cu, 2.3% Pb and 2.8% Zn from the Bonk showing with an extensive horizon traceable for over six kilometres.
- Eight grab samples from the Energizer target returned over 10 ppm Thallium indicating the potential for Carlin-style gold mineralization in the area.
The Company is pleased with the initial first-pass reconnaissance program on the Selwyn Recce Project. The land mass over which the various targets are located is roughly 36,000 square kilometres and less than 10% of the ground has been systemically explored to date.
Aben has engaged TerraLogic Exploration Inc. of Cranbrook, BC 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 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 to be carried out this year.
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.
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.
Follow the Company on Waggle at http://waggle.ca/companies/mining/aben_resources_ltd/default.aspx. Waggle is a free service that gives investors and TSX-listed companies a place to share and interact. A TSX community, Waggle is a credible and managed forum that allows members to use the power of social media to engage and communicate with one another.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Aben Resources Ltd.
Corporate Development and Communications
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.