Aben Continues to Expand POW Gold Zone at its Justin Gold Project, Yukon
08 Noviembre 2012 - 7:01AM
Marketwired Canada
Aben Resources Ltd. (TSX VENTURE:ABN) (FRANKFURT:E2L) (OTC PINK:ABNAF) (the
"Company") announces its phase two drill results from its 2012 exploration
program at its 100% owned, 18,314-acre Justin Gold Project within the Tintina
Gold Belt in southeast Yukon.
A total of 1,994 metres was drilled in nine holes during the 2012 field season
with all seven drill holes that were completed to their target depths
successfully intersecting gold mineralization while two holes were abandoned due
to difficult ground conditions. Including the two discovery holes drilled during
the 2011 field season, all nine holes completed to target depths at the POW Zone
have intersected gold mineralization in this expanding zone which remains open
in all directions.
Justin Gold Project Location Map:
http://www.abenresources.com/i/maps/ABN-Justin.jpg
Highlights:
-- All holes drilled to completion in the POW Zone thus far have
successfully intersected gold mineralization.
-- Hole JN12018 intersected significant replacement style gold
mineralization approximately 50 metres north of holes JN11009 and
JN11010 including a mineralized interval returning 88.5 metres of 0.73
g/t gold (uncut gold grade).
-- The POW Zone continues to exhibit strong continuity of mineralization
and remains open in all directions.
-- Mineralization has been traced along surface for approximately 450
metres west-east by 200 metres north-south and to 205 metres depth.
-- The vast majority of the intrusive stock and its surrounding contact
aureole at the Justin Project have yet to be tested and remain very high
priority targets for future exploration and drilling.
Discussion of Drill Holes JN12017 - JN12019:
The first hole of the second phase program, hole JN12017, was abandoned prior to
reaching target depth due to poor ground conditions. The second hole, JN12018
was collared to test the desired target sought in hole JN12017 and, using HQ
coring equipment, was successful in doing so.
Justin Project Plan View of POW Zone Drilling:
http://www.abenresources.com/i/maps/Pow_Zone_Highlights_Sep_2012.jpg
Hole JN12018 intersected significant skarn replacement style mineralization
approximately 50 metres north of discovery holes JN11009 and JN11010 which
returned 60 metres of 1.19 g/t Au and 11.3 metres of 2.7 g/t Au respectively.
Gold mineralization within JN12018 is preferentially hosted within altered
calc-silicate strata of similar character to that observed in JN11009, JN11010
and JN12011. Of particular interest is the overall continuity of mineralization
throughout the calc-silicate horizon. Uncut gold grade across the entire
mineralized interval in hole JN12018 returned 88.5 metres of 0.73 g/t Au,
reflecting the overall importance of this horizon in the POW Zone. Within this
wider mineralized zone there were shorter intervals including 21.9 metres of
1.06 g/t Au as well as 11.5 metres of 1.38 g/t Au. This drill interval is the
northernmost intersection to date at the POW Zone. Significant intersections
from hole JN12018 are presented in the table below.
Justin Project Cross Section of POW Zone Drill Hole JN12018:
http://www.abenresources.com/i/photos/Aben_Projects_Justin_Section_7.jpg
Hole JN12019 was collared with an intended target 50 metres south of the
interval reported from previously reported hole JN12011 which returned 46.4
metres of 1.49 g/t Au. The hole intersected the calc-silicate horizon and gold
mineralization at the anticipated target depth; however grades of mineralization
were more erratically distributed through the zone. Significant intersections
from JN12019 are presented in the table below.
Justin Project Cross Section of POW Zone Drill Hole JN12019:
http://www.abenresources.com/i/photos/Aben_Projects_Justin_Section_5.jpg
The 2012 exploration program was successful in intersecting gold mineralization
both in structurally controlled sheeted veins and skarn style replacement
settings. All holes drilled to completion in the POW Zone to date have
intersected significant gold mineralization. The results indicate that a notable
and developing discovery has been made on the Justin property in an area
described by geologists as an underexplored, emerging gold district within the
Yukon Territory. Northerly dipping, stratabound mineralization has been traced
along surface for approximately 450 metres west-east by 200 metres north-south
and to 205 metres depth.
Significant results from JN12017-JN12019 are summarized in the table below:
----------------------------------------------------------------------------
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Drill Hole From (m) To (m) Interval (m) Au (g/t) Cu (%) Core Size
----------------------------------------------------------------------------
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JN12017 No Significant Results - Hole Abandoned NQ
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JN12018 197.6 201.5 3.9 0.23 HQ
----------------------------------------------------------------------------
and 202.0 209.9 7.9 0.39 HQ
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and 211.7 223.2 11.5 1.38 HQ
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including 215.8 219.6 3.8 1.42 0.3 HQ
----------------------------------------------------------------------------
and 223.9 226.2 2.3 1.62 HQ
----------------------------------------------------------------------------
and 227.1 249.0 21.9 1.06 HQ
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including 229.1 231.7 2.6 0.79 1.8 HQ
----------------------------------------------------------------------------
and 251.0 252.0 1.0 0.51 HQ
----------------------------------------------------------------------------
and 253.0 254.3 1.3 0.36 HQ
----------------------------------------------------------------------------
and 256.5 258.3 1.8 1.48 HQ
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and 260.0 263.6 3.6 0.46 HQ
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and 264.4 272.0 7.6 0.49 HQ
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and 272.9 276.9 4.0 1.38 HQ
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including 272.9 273.2 0.3 14.40 0.1 HQ
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and 277.4 279.0 1.6 0.70 HQ
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----------------------------------------------------------------------------
JN12019 102.0 104.4 2.4 2.44 HQ
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including 102.0 102.6 0.6 6.68 HQ
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and 135.9 136.3 0.4 2.83 HQ
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and 137.5 138.9 1.4 0.31 HQ
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and 162.8 163.4 0.6 1.09 NQ
----------------------------------------------------------------------------
and 175.5 177.8 2.3 1.29 NQ
----------------------------------------------------------------------------
including 176.8 177.8 1.0 2.08 NQ
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and 178.5 179.9 1.4 0.54 NQ
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and 194.2 199.4 5.2 0.10 NQ
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and 207.0 210.0 3.0 0.51 NQ
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including 208.5 210.0 1.5 0.91 NQ
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(i) g/t = grams per metric tonne
(i) Au intercepts were calculated using a 0.1 g/t Au cut-off grade
(i) 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 Company is very pleased
with the drilling to date and how quickly an understanding has been gained with
respect to mineralizing controls at the Justin Property. The POW gold zone is
rapidly expanding and with everything learned this season we believe we have
just scratched the surface of this exciting new greenfield discovery. Aben will
be diligently working to compile and further interpret all of the geological and
drill data gathered this year on the Justin property as the Company is slated to
give a detailed technical presentation at the upcoming Yukon Geosciences Forum
in Whitehorse in a couple of weeks."
Discussion of POW Zone Geology and Intrusion Related Gold Systems:
In addition to skarn-hosted gold mineralization, other types of IRGS
mineralization, such as sheeted veining, are present at the Justin property both
within the intrusion and the surrounding country rock. These indicate zones of
structural preparation and provide for numerous prospective drill targets at the
project. There are also large untested geophysical anomalies, considered
high-priority targets, proximal to the POW discovery zone.
Justin Project Geophysics and Areas of Interest for Drilling:
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 Gold's Eagle Gold Deposit with an NI 43-101 compliant
indicated resource of 4.8 million ounces of gold and inferred resources of 1.5
million ounces of gold. (Victoria Gold website, September, 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.
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 Project Claims Map:
http://www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg
In 2011, a first-pass drill program consisting of 2,020 metres in ten drill
holes targeting four separate mineralized zones was completed on the Justin
Project. The previously reported drill hole results indicate that the POW Zone
represents a significant new greenfield gold discovery. Highlights from that
program include 60.0 metres of 1.19 g/t Au including 21.0 metres of 2.47 g/t Au
in hole JN11009. The first hole drilled during the 2012 season, JN12011,
returned 46.4 metres of 1.49 g/t Au including 9.2 metres of 3.88 g/t Au,
successfully tracing gold mineralization at the discovery zone an additional 85
metres laterally to the west.
In conjunction with diamond drilling, 2012 exploration activity completed to
date has also included the acquisition of a five year exploration permit,
prospecting, detailed mapping, ground geophysical surveying and the construction
of an exploration camp adjacent to the Nahanni Range Road on the property.
Qualified Person and Quality Assurance:
Tim J. Termuende, P.Geo., is a Director and the Qualified Person for Aben
Resources' Justin Project as defined by National Instrument 43-101, 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 was done for samples returning
greater than 10 g/t Au from ICP-AES analysis. When visible gold was noted in
drill core or rock samples, and where fire assay results returned grades greater
than 5.0 g/t Au, "Metallic Screen Fire Assay" analysis was utilized. Screen
metallic assay results are accepted as the most representative value and are
used in the geochemical database. The Company has implemented a quality
assurance and quality control (QA-QC) 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 more than 600,000 acres of land. The Company's
road-accessible flagship property, the Justin Gold Project, boasts a new
greenfield discovery made in 2011.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our
Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aben Resources Ltd.
James G. Pettit
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
Aben Resources Ltd.
Jordan Trimble
Corporate Development and Communications
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@abenresources.com
www.abenresources.com
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