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Mining Explorers 2012: Aben Resources Ltd.

 

Last updated 11/11/2012 at Noon



ABN: TSX-V

Chairman: Ronald Netolitzky, M.Sc. Geology

President: James G. Pettit

Qualified person Justin Gold Project:

Carl Schultze, B.Sc., P Geo.

Project managers: Mike McCuaig, B.Sc. (Justin); Aaron Higgs, B.Sc. (Selwyn Recce)

Aben Resources Ltd. focused in 2012 on its 7,412-hectare (18,314 acres) Justin gold project in southeast Yukon Territory.

In August, Aben reported that the first of six holes totaling 1,298 meters drilled within the POW zone at Justin intercepted a robust zone of gold mineralization and has successfully extended massive sulfide skarn gold mineralization discovered during a 2011 program by 85 meters.

Planned 2012 drilling was budgeted for 15-20 drill holes totaling up to 4,000 meters.

Aben also received a Class 3 exploration permit, allowing the company to carry out drilling, trenching, geophysical and geochemical surveys, sampling and prospecting at Justin for five years.

The first hole, JN12011, returned 46.4 meters grading 1.49 grams per metric ton gold, including 9.2 meters grading 3.88 g/t gold at a vertical depth of about 100 meters.

Hole JN12011 also confirmed the presence of a shallowly buried granitoid intrusion immediately underlying the POW zone.

Aben said the contact zone of the intrusion with the surrounding carbonate country rocks became a primary drill target as it is an important control on the skarn-replacement mineralization observed in the first three holes at POW. This contact zone remained open along strike, down dip and to surface.

Besides skarn-hosted gold mineralization, other characteristics similar to other gold deposits found within the Tintina Gold Belt have been observed at the Justin project.

There are also large untested geophysical anomalies proximal to the POW discovery zone, which are considered high-priority targets.

2012 exploration activity also included prospecting, detailed mapping, ground geophysical surveys and the construction of an exploration camp adjacent to the Nahanni Range Road.

Aben also reported entering into an agreement with Eagle Plains Resources Ltd. with respect to a base metal exploration program on its 55 Northwest Territories mineral claims, which specifically includes all carbonate-hosted and/or sedimentary exhalative-style silver-lead-zinc targets and/or sediment-hosted copper targets.

Under terms of the agreement, all costs associated with the Sedex minerals exploration program will be shared equally, and the parties shall each own a 50 percent interest in the Sedex mineral rights to the property.

Cash and short-term deposits:

C$133,331 (at June 30, 2012)

Working capital:

C$1.48 million (at June 30, 2012; raised

C$1 million in August 2012)

Market capitalization:

C$6.98 million (at Sept. 2, 2012)

Aben Resources Ltd.

2230 - 885 West Georgia Street

Vancouver., BC Canada V6C 3E8

Ph: 604-687-3376 • Fax: 604-687-3119

http://www.abenresources.com

 

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