Gold Exploration in Canada’s Premier Mining Jurisdictions
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Aben Resources Ltd. (TSXV:ABN, OTCBB:ABNAF, FRA:E2L2) holds three properties in premier mining locations recognized worldwide. Aben Resources is currently developing their flagship Forrest Kerr project, which is situated at the heart of the Golden Triangle region in Northwest British Columbia, Canada.
The Golden Triangle is a remote and mountainous area of the province which sits on the border of Alaska’s panhandle. Interest in the this area began in 1861 and mines have been operated there since 1918. In the 1990s, it was quite popular as the Eskay Creek and Snip properties became productive enough to inspire the region’s current name. While the Golden Triangle was previously quite difficult to reach, recent developments in infrastructure including roads and power lines have inspired new exploration initiatives.
New infrastructure, alongside new discoveries in the area, higher gold prices, receding glaciers and maturing production are all lining up to point to a new period of growth and development for the Golden Triangle.
Aben Resources’ Forrest Kerr project is in the center of this territory and neighbours projects conducted by GT Gold, Pretivm Resources, and Eskay Mining Corp. After conducting initial exploration activities and determining drill targets, Aben Resources commenced a 2,100-meter drill program in August 2017, which they soon expanded to 2,500 meters. The goal of this program is to test the Boundary and Carcass Creek zones to confirm and extend the high grade gold mineralization discovered in historical drilling.
Aben Resources also holds two other properties in Yukon and Saskatchewan, respectively: the Justin Gold project and the Chico Gold project. The Justin project is on the Tintina Gold Belt and adjacent to Golden Predator’s 3 Aces gold project. The Chico Gold project is located along the regional Tabbernor Fault just south of Seabee & Santoy deposits recently acquired by Silver Standard Resources.
- Three prospective gold projects in safe and stable jurisdictions in Canada ranked in the top 30 attractive mining investment regions worldwide by the Fraser Institute.
- All projects have seen significant historic work providing promising insight.
- Golden Triangle, historically a prominent region for mining and exploration activity, witnessing resurgence thanks to new discoveries and improved infrastructure.
- First season of Forrest Kerr drill work exploring areas of historic results including 9.867 g/t gold over 29.3 meters in one zone, and 33.4 g/t gold over 11 meters in another.
- Aben Resources will be able to earn 100 percent interest over the Forrest Kerr project by expending $3 million on exploration by June 2020.
- Management team collectively hold 30 percent of shares and a European fund holds another 10 percent.
- Experienced team of mining and finance professionals with over 150 years of experience between them.
Flagship Asset: Forrest Kerr Project
The Forrest Kerr project consists of 23,000-hectare covering three adjoining properties in the heart of BC’s Golden Triangle region, north of the Iskut river and south of More Creek. Both the north and south limits of the property are road accessible and it is enabled with existing power lines thanks to the development of hydro-electric facilities in the area. Employees take a ten-minute flight into the property, and there is a 250-man camp owned by AltaGas which Aben Resources has access to for food and first-aid. Since the acquisition and recent exploration, the company foresees earning a 100 percent interest via $3 million in exploration expenditures by June 2020.
The Golden Triangle Region
The Golden Triangle is in the northwest of BC, 100 kilometers inland from the Alaskan panhandle. Interest in the region began in 1861, when placer gold was discovered, instigating the Stikine Gold Rush. The region is known for a number of key discoveries including the Snip deposit in 1964, which produced 1.1 million ounces grading an average of 27.5 g/t gold, and the Eskay Creek discovery in 1988, which totaled more than 3 million ounces of gold and 160 million ounces of silver.
The area of the Forrest Kerr property was first explored in the mid-1980s and was continually explored from 1988 to 2005, with little work having been done in the region since. Over the past decade, vast improvements in infrastructure as well as rapid melting rates in the glaciers, which have both vastly improved access and offered new drilling opportunities.
“The area was drilled decades ago with limited follow up work due to limited accessibility, high drilling costs, and a less comprehensive understanding of the geology,” stated Jim Pettit, Aben Resources president and CEO.
“Since then, major infrastructure improvements have been made, which have helped bring drilling costs down.”
Work Conducted to Date
Since acquiring the property in mid-2016, Aben Resources has conducted an intensive compilation study that reviewed the three joint properties based on their past drilling and other historical data and collected the information into a central database.
With this data compilation study complete, Aben Resources has pursued further exploration activities aimed at generating drill targets, including ground truth exploration and surface sampling. Historical drilling results at the Forrest Kerr Project have ranged from trace values to several high-grade intercepts such as 9.97 g/t gold over 29.3 metres, including 125 g/t Au over 0.8 metres and 91 g/t Au over 1.9 metres, in hole RG91-21 in the Carcass Creek Zone as well as 33.4 g/t gold over 11 metres, including 326 g/t over 0.5 metres, in hole RG91-16 at the Boundary Zone. This high grade mineralization is within 200 metres vertical depth of surface and the Carcass and Boundary Zones are approx. 4 kilometres apart leaving robust discovery potential along strike, at depth and at other regional targets on the property.
The project received a 2 year Multi-Year Area Based permit in July 2017 for a diamond drilling program which they began in August. Drilling in the Carcass Creek and Boundary zones included 2,500 meters with the goal of testing the zones to confirm and extend the already high-grade gold mineralization discovered in the past. The drilling will also explore conceptual targets, including areas of outcrop with multiple shear zones and abundant sulphides south of the Boundary zone.
Early results of the drilling program have outlined the discovery of various small zones of massive quartz veins and quartz-sulphide vein breccias that have reported high grade gold mineralization in the past in the Carcass Creek zone. In the Boundary zone, drilling activities found massive to semi-massive sulphide horizons linked to strong quartz carbonate veining and breccias. The sulphides discovered within these findings were somewhat enriched with chalcopyrite, which is a copper mineral known to have strong links with gold mineralization in the region.
“This [mineralization] is particularly exciting given the mineralogic similarities between the sulphide horizons we have drilled and those that GT Gold is reporting from their Tatogga Property, located north of our Forrest Kerr project,” noted Cornell McDowell, VP of Exploration.
Justin Gold Project, Yukon
The Justin Gold project is a wholly owned 18,314-acre property on the Tintina Gold Belt in Southeast Yukon, adjacent to the Golden Predator’s 3 Aces project. It is situated 35 kilometers southeast of the Cantung Mine on Nahanni Range Road.
The project has seen two major exploration periods in 2011 and 2012, primarily in its POW and Kangas zones. In total, during this time, 4,014 meters were drilled in 19 holes across four different zones, with 10 holes successfully finding gold mineralization.
The most significant drill results for 2011 include an average 60.00 meters of 1.19 g/t gold in previously undrilled territory including 2.47 g/t gold over 21 meters. As a result of this greenfield gold discovery, along with new silver and copper discoveries, Aben Resources purchased more claims around the northern part of the property.
In 2012, Aben Resources developed a 20-man camp that served as a base to the explorations in the POW zone of that year. Almost 2,000 meters were drilled, with all seven completed holes finding gold mineralization and obtaining results including 1.49 g/t gold over 46.4 meters in one hole and 0.73 g/t gold over 88.5 meters in another. Additionally, mineralization in the region was traced along the surface for 450 meters west to east, 200 meters north to south, and to 205 meters in depth.
The POW zone is still an area of interest in terms of strong continuity of mineralization and thus remains open in all directions.
The Chico Gold Project, Saskatchewan
The Chico Gold project is a 2,915-hectare property situated 125 kilometers east of La Ronge, Saskatchewan and 40 kilometers south of the Silver Standard Resources’ Seabee / Santoy mine. As part of their relationship with Eagle Plains Resources Ltd, Aben Resources have an Option Agreement where they have the sole right to earn an 80 percent interest on the project.
The property is known for having a north/northeast-trending 20 to 150 meter-wide multi-episodic shear system of both ductile and brittle gold-bearing quartz vein systems. It has been operated by multiple companies including Corona, Cameco, Wayne Fisher and Northwind Resources and showed high-grade intercepts from historic drilling of 0.424 oz/ton gold over 0.4 meters.
Eagle Plains has conducted extensive fieldwork which yielded results in December 2016. The highlights of the property include a mineralized structural corridor running 1.5 kilometers, which was validated by soil samples including anomalous samples of up to 4.5 g/t gold. Rock samples obtained in 2016 showed trace quantities of up to 20.2 g/t gold. This fieldwork also enabled Eagle Plains to determine a number of drill targets for future exploration. Permits for future drilling has been approved.
Jim Pettit, president and CEO of Aben Resources, stated, “This exciting new project allows the company to potentially drill through the winter while it is compiling data and permitting for summer work and drilling programs on its BC based Forrest Kerr project and Yukon based Justin project.”
Ronald Netolitzky, M.Sc. Geology—Director, Chairman
Ron Netolitzky serves as Chairman of the Board of Aben Resources Ltd. He holds a Bachelor of Science degree from the University of Alberta and a M.Sc degree from the University of Calgary, both in geological sciences. Mr. Netolitzky has been very successful in mining exploration with over 35 years of experience and by having been directly associated with three major gold discoveries in Canada that have subsequently been put into production; Eskay Creek, Snip and Brewery Creek. Mr. Netolitzky has been honored with the Prospector of the Year award from the PDAC, and Developer of the Year award from the BC and Yukon Chamber of Mines. In 2015, he was inducted into the Canadian Mining Hall of Fame.
James G. Pettit—Director, President and CEO
Jim Pettit has been president and CEO and a Director of Aben Resources Ltd since November 2002. Mr. Pettit is currently serving on the board of directors of five publicly traded companies and offers over 25 years of experience within the industry specializing in finance, corporate governance, executive management and compliance. Jim was previously Chairman and CEO of Bayfield Ventures Corp. which was bought by New Gold Inc. in January 2015.
Timothy Termuende, P.Geo—Director
Tim Termuende serves as a Director of Aben Resources Ltd and is a professional geologist with over 30 years experience in the mineral exploration industry and is a Qualified Person as defined by National Instrument 43-101. Since earning his degree in Geological Sciences at the University of British Columbia in 1987, Mr. Termuende has worked on exploration projects throughout North, Central, and South America and has been personally involved in exploration within the Forrest Kerr, BC area in the early 1990’s. He has been continuously active in mineral exploration throughout western Canada since 1976, and currently oversees a broad range of ongoing exploration projects located throughout British Columbia, Saskatchewan, the Yukon and the Northwest Territories.
Donald C. Huston—Director, CFO
Don Huston serves as a Director and acting Chief Financial Officer of Aben Resources Ltd and has been associated with the mineral exploration industry for over 30 years. Mr. Huston has extensive experience as a financier and in-field manager of numerous mineral exploration projects in North America. He was born and raised in Red Lake, Ontario and spent 15 years as a geophysical contractor with C.D. Huston & Sons Ltd as mineral exploration consultants in northern Ontario, Manitoba and Saskatchewan. Mr. Huston serves as a director of four Canadian public mineral resource companies.
Amanda Chow, CPA, CMA—Director
Amanda Chow serves as an independent Director of Aben Resources Ltd. Ms. Chow is a Chartered Professional Accountant (CPA, CMA) and a graduate of Simon Fraser University where she earned her Bachelor of Business Administration degree. She began working with public companies in 1999.
Donald G. Myers—Director, Investor Relations
Don Myers serves as an independent Director and is the Investor Relations Manager of Aben Resources Ltd. Mr. Myers serves on the board of directors and manages the investor relations and corporate communications of publicly traded mineral exploration and development companies. Mr. Myers has over 30 years of experience in public company management and investor relations having helped raise over $350 million in venture capital for resource and technology companies listed on the TSX Venture, NASDAQ and Toronto Stock Exchanges.
Cornell McDowell, P.Geo—Vice President of Exploration and Qualified Person
Cornell McDowell is a professional geologist registered in both Alberta and British Columbia and serves as VP of Exploration of Aben Resources Ltd. He has been self-employed as a geological consultant throughout the past decade with both publicly listed and privately held mineral exploration corporations. Most recently he helped take Gold Reach’s Ootsa project from the initial exploration stage through to resource development which ended with the delivery of a positive PEA. He is currently president and CEO of North Sur Resources and serves on the board and audit committee for Manson Creek Resources.
Henry Awmack, P.Geo—Technical Advisory Board
Henry has over 30 years’ experience in the mining industry. As a co-founder of Equity Engineering Ltd in 1987, Mr. Awmack has managed all aspects of a geological consulting and contracting firm including project planning and execution, hiring of field crews, geological fieldwork, property examinations and preparation of technical reports. He has worked around the world exploring for a variety of commodities, and has extensive “on the ground” experience in the Forrest Kerr, BC area in particular. Mr. Awmack holds a B.Sc (Honours) Applied Science in Geological Engineering from the University of British Columbia and is registered as a professional engineer with the Association of Professional Engineers and Geoscientists of British Columbia.
Michael Roberts, Ph.D, P.Geo—Technical Advisory Board
Mike Roberts is a professional geologist with over 15 years of experience in mineral exploration and is currently the VP of Exploration for Kiska Metals Corporation. As a field geologist for several junior exploration companies and as VP for Kiska, Mr. Roberts has conducted and managed grassroots to advanced exploration programs for base and breccia metals in North America and Australia, typically in partnerships with major mining companies. Mr. Roberts is passionate about the mineral potential of BC, and has been actively involved in exploration programs in the Forrest Kerr area since 2005.
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