Aben Resources Ltd. / Aben Resources Ltd. : Aben Continues to
Expand POW Gold Zone at its Justin Gold Project, Yukon
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this
announcement.
Suite2230, 885 West Georgia Street, Vancouver, BC, V6C 3E8,
CANADA
www.abenresources.com
Trading Symbol (TSX-V: ABN), (Frankfurt: E2L)
Email: info@abenresources.com
Aben Resources Ltd. (TSX-V: 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:
+----------+--------+------+------------+--------+------+---------+
|Drill Hole|From (m)|To (m)|Interval (m)|Au (g/t)|Cu (%)|Core Size|
+----------+--------+------+------------+--------+------+---------+
| JN12017 | No Significant Results - Hole Abandoned | NQ |
+----------+--------+------+------------+--------+------+---------+
| JN12018 | 197.6 |201.5 | 3.9 | 0.23 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 202.0 |209.9 | 7.9 | 0.39 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 211.7 |223.2 | 11.5 | 1.38 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|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 |
+----------+--------+------+------------+--------+------+---------+
|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 |
+----------+--------+------+------------+--------+------+---------+
| and | 260.0 |263.6 | 3.6 | 0.46 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 264.4 |272.0 | 7.6 | 0.49 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 272.9 |276.9 | 4.0 | 1.38 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 272.9 |273.2 | 0.3 | 14.40 | 0.1 | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 277.4 |279.0 | 1.6 | 0.70 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| JN12019 | 102.0 |104.4 | 2.4 | 2.44 | | HQ |
+----------+--------+------+------------+--------+------+---------+
|including | 102.0 |102.6 | 0.6 | 6.68 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 135.9 |136.3 | 0.4 | 2.83 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| and | 137.5 |138.9 | 1.4 | 0.31 | | HQ |
+----------+--------+------+------------+--------+------+---------+
| 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 |
+----------+--------+------+------------+--------+------+---------+
| and | 178.5 |179.9 | 1.4 | 0.54 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 194.2 |199.4 | 5.2 | 0.10 | | NQ |
+----------+--------+------+------------+--------+------+---------+
| and | 207.0 |210.0 | 3.0 | 0.51 | | NQ |
+----------+--------+------+------------+--------+------+---------+
|including | 208.5 |210.0 | 1.5 | 0.91 | | NQ |
+----------+--------+------+------------+--------+------+---------+
* 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
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 > 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-V: ABN),
visit our Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
JAMES G. PETTIT
President
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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: (i) the releases contained herein are protected by copyright
and other applicable laws; and (ii) they are solely responsible for
the content, accuracy and originality of the information contained
therein.
Source: Aben Resources Ltd. via Thomson Reuters ONE
[HUG#1656063]
For further information contact: Jordan Trimble Aben Resources
Ltd. Corporate Development and Communications Telephone:
604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email:
Email Contact