Vancouver, BC, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Aben Minerals Ltd. (TSX-V: ABM)(OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) has received and filed a NI 43-101 compliant Technical Report pertaining to Aben’s 100% owned 23,397 hectare Forrest Kerr Gold Project in the Golden Triangle, British Columbia.
From July 2016 to September 2021, Aben completed 22,957.5 m of diamond drilling in 72 drill holes, collected 1,282 soil samples, 371 rock samples, and 11 stream sediment samples, and completed an airborne magnetic survey over the Boundary valley totaling 173 line-kilometres of data. The global database for the property now includes 190 drill holes, 2,500 rock samples, and over 20,000 soil samples.
The widespread base and precious metal mineralization present on the Forrest Kerr Property is spatially related to the Forrest Kerr Fault, a regional scale crustal break that transects the entire property for over 50 kilometres. High-grade mineralization has been discovered in multiple fault-controlled subparallel zones adjacent to the Forrest Kerr Fault and related structures. Extensive alteration zones that extend well beyond the known areas of mineralization indicate that the Forrest Kerr Property hosts a large hydrothermal mineralizing system with excellent opportunity for further discovery of significant base and precious metals.
North Boundary Zone:
Highlight drill hole FK17-05 intercepted 1.2 g/t Au, 1.8 g/t Ag and 0.21% Cu over 122 metres that includes 10.9 g/t Au, 14.6 g/t Ag and 1.5% Cu over 12 metres with a high grade core of 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu over 6 metres. The mineralized zone encountered represents a near-surface, high-grade discovery comprised of strong quartz and quartz-carbonate veining with well-mineralized breccia horizons.
South Boundary Zone:
Despite extensive work done by Aben Resources and previous operators, the bulk of the Forrest Kerr property remains under-explored with respect to drilling. In particular, the South Boundary zone warrants additional drilling to determine its potential for a low-grade bulk-tonnage Au-Cu resource.
Aben’s President and CEO Riley Trimble remarked that “The NI 43-101 Technical Report for our Forrest Kerr Gold Project is a collection of six years of exploration work. The compelling data, particularly from the North Boundary Zone, reinforces the project's immense potential.
Aben, with two key Canadian gold projects in the Golden Triangle of British Columbia and the Tombstone Gold Belt of the Yukon, views the Forrest Kerr Project and the Justin Project individually as pivotal assets.
Looking ahead, we are actively exploring strategic options, including a joint venture partnership or even complete sale of the Forrest Kerr project, to continue the advancement of our Justin Project. I believe it is worth noting that both projects are adjacent to exploration projects owned by Seabridge Gold – their Iskut Project in the Golden Triangle shares a border with our Forrest Kerr, and their 3 Aces Project in the Yukon borders Aben’s Justin Project. These neighbouring projects had approximately $14.68 million spent collectively on exploration in 2023 according to Seabridge Gold’s September 30th 3rd Quarter MD&A filing.”
Qualified Person
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Minerals, 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 Minerals:
Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The Company has 18.7 million shares outstanding.
For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s website at www.abenminerals.com.
ABEN MINERALS LTD.
“Riley Trimble” ______________________ Riley Trimble President & CEO
For further information contact: Aben Minerals Ltd. Riley Trimble, President & CEO Telephone: 604-416-2978 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: [email protected]
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.
