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By Nathan Pearson
Monday, October 17th 2011
Resourcexinvestor.com
Aben Resources (TSX-V: ABN) is making some impressive headway on its Yukon and Northwest Territories properties. The company has just completed its expanded 10-hole Diamond drill program on its 100% owned Justin gold project in the Yukon, where the discovery of brand new gold zones and drilling on zones that have never before been Diamond drilled has led to an almost palpable anticipation for the impending assays.
Aben is also conducting a 1,800 line-kilometre, high-resolution, heli-borne magnetic survey on its silver-copper-lead Rusty Springs project, also in the Yukon, and is currently compiling a detailed technical report on its Selwyn Recce gold-silver project in the Northwest Territories in preparation for exploration on the property next year.. All in all, Aben seems to be doing its best to ensure a highly productive future is in the cards.
Justin Gold Project
Aben acquired the Justin property from Eagle Plains Resources (TSX-V: EPL) in February 2011 as part of an agreement that included the acquisition of two Yukon properties and Northwest Territories prospecting permits. Equipped with the potential to host both high-grade and bulk-tonnage gold mineralization, historical grab samples from the property are reportedly as high as 59.25 grams per tonne gold, in addition to historical chip samples returning an average of 2.38 grams per tonne gold over 22.5 metres.
Aben hit the ground running with the Justin Project, commencing a 2,000 metre Diamond drill program on the property only 6 months after acquisition. The Company just recently completed the program and assays are pending for the 10 holes. Two additional holes were drilled to test the newly discovered POW Zone and encouraging mineralization was noted in many holes.
The aim of the 2011 drill program is to assess potential mineralization at depth on the Main, Confluence, Kangas and POW zones, the latter 3 zones having no drill history whatsoever. In fact, Aben's 2011 activities represent the first systematic drilling campaign on the project since a small 4-hole program was completed on the Main zone in the mid 1980's.
Located on the Tintina Gold Belt in east-central Yukon, the 4,114 acre Justin property is situated only 35 kilometres southeast of the recently re-opened Cantung Mine and only 9 kilometres southeast of Northern Tiger Resources' (TSX-V: NTR) 3Aces gold project.
Just to drive home the implications of Aben's proximity to Northern Tiger, recent notable drill intercepts from the 3Ace property include 14.8 grams per tonne gold over 10.9 metres including 145.2 grams per tonne gold over 1.05 metres as well as 4.3 grams per tonne gold over 30.3 metres.
If Aben get the assays they're hoping for on Justin, the junior company will be well on its way to making a serious name for itself on the Tintina Gold Belt.
Selwyn Recce Gold and Silver Project
Also obtained from Eagle Plains Resources were the rights to 426,821 acres of prospecting permits in the Selwyn Recce area of the NWT, in addition to an extensive proprietary database for the Yukon and Northwest Territories. The company's permits and recently staked properties are considered to be prospective for the presence of Carlin-type gold deposits as well as carbonate-hosted and sedex style silver-lead-zinc deposits and sediment-hosted copper deposits.
What ups the ante with Selwyn Recce at the moment is the considerable recent attention bestowed upon the area with the discovery of Carlin-style mineralization at ATAC Resources' (TSX-V: ATC) Osiris gold zone. Highlight results for ATAC include:
- Osiris: 65.20 metres of 4.65 grams per tonne gold.
- Conrad: 21.12 metres of 8.03 grams per tonne gold.
- Easton: 9.64 metres of 3.36 grams per tonne gold.
Since acquisition, Aben has identified 18 high priority targets on the Selwyn Recce Project which have become the focus of 2011 exploration on the property. Identified as a result of Aben's proprietary geochemical database, this progression has allowed the company to advance the project by at least a year in terms of the time required to identify these targets.
Rusty Springs Silver and Base Metals Project
Aben is earning a 100% interest in the Rusty Springs silver-copper-lead property from Eagle Plains. Located north of Dawson City, Yukon where notable historic drill results include 1,140 grams per tonne silver, 2.30% copper and 4.72% lead over 37.5 metres from surface, the property hosts silver-copper-lead mineralization associated with a 25-40 metre thick replacement horizon within carbonate rocks.
Aben has commenced a 1,800 line-kilometre, high resolution, heli-borne magnetic survey on the 2,718 acre project. A four man crew was mobilized to carry out the survey on the property that, until now, has only had historic low-resolution, regional-scale airborne geophysical surveys completed on it.
Rude Creek Gold Project
It's worth noting that the Aben portfolio also boasts an option to acquire a 100% interest in the Rude Creek South gold, copper and molybdenum property.
Located in the heart of the Yukon's White Gold District, Rude Creek sits approximately 40 kilometres southeast of Kaminak Gold Corp.'s (TSX-V: KAM) Coffee Creek gold property, 60 kilometres southeast of Kinross' (TSX-V: K) Golden Saddle gold deposit and only 10 kilometres east of Western Copper Corp.'s (TSX-V: WRN) Casino gold-copper-molybdenum deposit which brings 8 million ounces of gold, 4.4 billion pounds of copper and 475 million pounds of molybdenum to the White Gold District table.
Along with its already impressive portfolio of promising prospects, Aben has engaged TerraLogic Exploration Inc. of Cranbrook, BC to oversee all aspects of the company's 2011 exploration programs.
*Yukon and Northwest Territories Property Location Map
Management
Leading the Aben team into Q4 2011, and beyond, is a seasoned and savvy board of industry experts.
Standing as Chairman and Director is Ronald Netolitzky, M.Sc. Geology. Holding a Bachelor of Science degree from the University of Alberta and a M.Sc. degree from the University of Calgary, Netolitzky has extensive exploration and mine development experience. Previously Chairman and President of Viceroy Exploration Ltd., which achieved exploration success with its Gualcaymayo gold project in Argentina resulting in the sale of the company to Yamana Gold in 2006, he was also Chairman of Brett Resources Inc., which was acquired by Osisko Mining Corp. (TSX-V: OSK) in the Spring of 2010. Directly involved in the mineral exploration industry in Western Canada since 1964, Aben stands secure in the hands of Netolitzky.
President and Director of Aben since 2002 is Jim Pettit. Currently serving as a Director on the boards of 7 junior resource companies, Pettit offers over 15 years experience within the industry specializing in finance, corporate governance, management and compliance.
Tim Termuende, P. Geo. serves as a Director of the Company and is a professional geologist with over 30 years experience in the mineral exploration industry. He's also a Qualified Person as defined by National Instrument 43-101. Currently the President and Chief Executive Officer of Eagle Plains Resources Ltd. (TSX-V: EPL), Termuende 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.
Together, they make a formidable team of industry experts, intent on advancing Aben and its properties to the utmost of their considerable abilities.
A Long Hard Look
The Yukon Territory is synonymous world-round with mining and exploration. From the famous Klondike gold rush of 1896 to the present day, mining and exploration has continued to be the cornerstone of the Yukon economy. Sitting comfortably on a highly respectable portfolio of this legendary land is Aben Resources. Armed with some heavily promising historical results, a gritty determination to succeed and a share price of only $0.09, this is one junior company worth sitting up and taking a long hard look at.
Follow their progress at www.abenresources.com
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