Aben Interprets Data from 2017 Geophysical Survey to Outline Targets for Upcoming Drill Program at Chico Gold Project, Saskat...
15 1월 2018 - 10:00PM
Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF)
(Frankfurt:E2L2) (the “Company”) is pleased to announce the receipt
of the finalized data from a ground-based induced polarization
geophysical survey that was conducted in June 2017 on the 4,657
hectare Chico Gold Project located 125 kilometres east of La Ronge,
Saskatchewan and 40 kilometres south of SSR Mining's (formerly
Silver Standard Resources) Seabee gold operation. Aben Resources
holds the exclusive right to earn an undivided 80-per-cent interest
in the property by completing $3.5-million in exploration
expenditures, issuing 2.5 million shares and making $150,000 in
cash payments to Eagle Plains Resources (TSX-V:EPL) by 2020. Aben
recently made a cash payment of $25,000 and issued 250,000 common
shares to Eagle Plains, pursuant to the terms of the current option
agreement. Aben intends to carry out diamond drilling on the Chico
property in late February. Permitting and detailed planning
for the program is currently underway. Chico drilling activity is
expected to be conducted concurrently with a 10,000m winter drill
program to be carried out by SSR Mining Inc. on Eagle Plain’s
Fisher Property, located 6km north of Chico.
Chico Gold Project, Saskatchewan location
map:http://www.abenresources.com/i/maps/ABN_Chico_Location_and_Highlights.jpg
The 14 line km MRI-32 IP/DC-Resistivity and
Magnetic survey was centered over both the Chico and Western
structural trends, which host high-grade gold mineralization at
surface and within historic drill intercepts. The Chico mineralized
structural corridor extends in excess of 1400 metres along strike
and spans up to 150 metres in width with several mineral
occurrences contained within. Highlights include:
- High grade intercepts from historic drilling include
14.5 grams/tonne (g/T) (0.424 oz/ton) gold over
0.4m at Chico showing and 9.6 g/T (0.281 oz/ton)
gold over 2.0m at Royex showing
- Hole MW93-20 returned five significant intercepts ranging from
0.51 g/T gold over 1.5 metres, to 36.3 g/T
gold over 0.3 metres (AR 63M06-0041)
The 2017 geophysical survey has discovered a
large high-chargeability zone centered below the middle portion of
the Chico shear zone with some vertical chargeability structures
extending upward from the root zone. The high-chargeability
response may result from the presence of abundant sulfide minerals
such as pyrite, pyrrhotite and chalcopyrite, which are closely
associated with gold mineralization on the Property. The top of the
root zone appears to extend to within 150 metres of the surface and
represents an attractive and high-priority drill target given that
multi-gram gold intercepts have been historically reported above
and adjacent to it. Of the 22 historic drill holes located on the
Property, the deepest has reached 110 metres vertical depth (157
metres down hole) and was not collared in this zone of high
chargeability. Two short videos depicting the zone can be viewed
here: https://www.youtube.com/watch?v=vQPSgr-g0Vg and
https://www.youtube.com/watch?v=zBen-X8HFzI.
Chico Property – Recent and Historic Exploration
Activity:
Exploration programs in 2016 and 2017 involved
systematic fieldwork including a 661 line-kilometre airborne
magnetometer geophysical survey, mapping, trenching, soil
geochemical analysis and the aforementioned ground-based
IP-Resistivity-Magnetic survey. The systematic exploration has
enabled field crews to identify mineralization, alteration and
structural features similar to those at the nearby Seabee and
Santoy deposits, located 40 kilometres to the north. The Seabee
Gold operation has been in continuous production since 1991,
producing 1.2 million ounces of gold from the two deposits. Seabee
and Chico are comparable in that mineralization is spatially
related to splays of the Tabernoor Fault and are hosted in
sub-parallel shear structures which cross-cut the local intrusive
complex. High-grade gold mineralization at both Seabee and Santoy
extends well below the shallow depths to which the Chico Project
has thus far been explored.
Chico Exploration History:
Trenching and drilling activities carried out by
Corona Corporation and Cameco from 1988 to 1993 defined a
mineralized strike length of over 1400 metres. Trenching by Corona
at the Royex showing returned five chip samples greater than 1000
ppb gold with a best (chip) sample of 14.3 g/T gold over 1 metre
(AR 63M06-0034). Follow-up diamond drilling by Cameco near the
Royex trench returned five significant intercepts ranging from 0.51
g/T gold over 1.5 metres, to 36.3 g/T gold over 0.3 metres (AR
63M06-0041).
Mineralized shear zones and quartz veining that
define the Chico Zone are hosted in diorite and granite rocks and
especially along the sheared contact between these two units. The
Chico and the adjacent parallel Ed and Western structural zones are
related splay structures off the larger Tabbernor fault system.
Despite the significant surface discoveries of gold along these
structural trends, mineralization remains largely untested at depth
and along strike extensions.
The Tabbernor fault is a 1,500 kilometre-long
regional structure which has been traced from as far north as the
Rabbit Lake uranium mine in northern Saskatchewan to as far south
as the Black Hills of South Dakota, the latter of which hosts the
40-million-ounce Homestake gold deposit. The shared proximity to
the Tabbernor structure and similarities in terms of age and
tectonic history to the Homestake and Seabee/Santoy deposits was
the main driving force behind Aben's interest in the Chico
property. Management cautions that past results or discoveries on
proximate land are not necessarily indicative of the results that
may be achieved on the subject properties. Aben has not been able
to independently verify the methodology and results from historical
work programs within the property boundaries. However, management
believes that the historical work programs have been conducted in a
professional manner and the quality of data and information
produced from them are relevant.
Cornell McDowell, P.Geo., V.P. of Exploration of
Aben Resources, has reviewed and approved the technical aspects of
this news release and is the Qualified Person as defined by
National Instrument 43-101.
About Aben Resources:
Aben Resources is a Canadian gold exploration
company developing gold-focused projects in British Columbia,
Saskatchewan and the Yukon Territory. Aben is a well-funded junior
exploration company with approximately 62.7 million shares issued
and outstanding. For further information on Aben Resources Ltd.
(TSX-V:ABN), visit our Company’s web site at
www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”______________________JAMES
G. PETTITPresident & CEO
For further information contact myself or:Don
MyersAben Resources Ltd.Director, Investor RelationsTelephone:
604-639-3851Toll Free: 800-567-8181Facsimile: 604-687-3119Email:
info@abenresources.com
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 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.
Common Stock (TSXV:EPL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Common Stock (TSXV:EPL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024