Aben Resources Ltd.

Published : August 08th, 2012

Aben Resources (TSX.V: ABN) Drilling Update and Northern Tiger's News, Southeast Yukon

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Wednesday, August 08, 2012 News Release

Aben Resources (TSX.V: ABN) Drilling Update and Northern Tiger's News, Southeast Yukon



We would like to bring to your attention the significant news release Northern Tiger (TSX.V: NTR) issued this morning. They announced a channel sample that returned 132.91 g/t Au over 6.9 metres along strike in their new Sleeping Giant Zone at their flagship 3Ace Project in the Yukon. This is very exciting for this emerging precious metals region in the southeast Yukon and the only other company working in the direct vicinity is Aben Resources (TSX.V: ABN). Aben's flagship Justin Gold Project is adjacent to NTR's 3Ace and Sprogge properties and ABN has recently commenced its 2012 Diamond drill program at its POW Zone. At the end of the 2011 drill season, ABN made a notable greenfield gold discovery of 2.47 g/t Au over 21 metres in the first ever drill hole at the new zone which has set the stage for this phase of drilling. Below is an update on the progress that has been made at the Justin property since the drill program started with 4 holes having been completed thus far:

 

Drill Hole ID: JN12011
Target: POW Zone
Azimuth 130�
Inclination -45�
Total Depth: 363.3 metres
Status: Drilling Complete, Samples Pending

First drill hole JN12011 was designed to intercept the western extension of the intersection in last years hole JN11009 which returned 21.00 metres of 2.47 g/t Au, and to test the potential for intrusion hosted gold within the stock underlying the Pow Zone. The hole was collared at 12:00 pm on Monday July 23rd, 2012, and was completed on Sunday July 29th, 2012. The hole was drilled to a depth of 363.3 metres. Detailed logging and sampling of the hole is underway.

Drill Hole ID: JN12012
Target: POW Zone
Azimuth 080�
Inclination -45�
Target Depth: 157.5 metres
Status: Drilling Complete, Samples Pending

Second drill hole JN12012 is designed to intercept the original Pow Zone discovery 400 metres east of last year holes JN11009, JN11010, and new hole JN12011. The hole was collared on July 29th, 2012.

 

Drill Hole ID: JN12013
Target: POW Zone
Azimuth 260�
Inclination -45�
Total Depth: 162.0 metres
Status: Drilling Complete, Core Logging and Sampling Pending

JN12013 was designed to intercept the strike extension of sheeted quartz veins sampled on surface (MMJNR016, MMJNR034), and to define the contact of the Justin stock.

Drill Hole ID: JN12014
Target: POW Zone
Azimuth 080�
Inclination -50�
Estimated Total Depth: 200.0 metres
Status: Drilling, Core Logging and Sampling Pending

JN12014 was designed to intercept the down dip extension of the sheeted vein intersection in JN12012. The hole is anticipated to go to a depth of 200.0 metres and the target depth for the extension of the sheeted vein network is 150.0 metres.

Reconnaissance Ground Work
The recce crew has now completed their 3 week field program on the Justin-VF properties. The last week was spent infill mapping, prospecting, and soil sampling on the Justin property. A total of 52 rock samples, 345 soil samples, were collected over 7 field days. Emphasis has been placed on compiling the final POW Zone detailed geology map. The overall understanding of the geology on the Justin property has been greatly improved by this exercise, and will be a key component in guiding future exploration.

Geophysics Survey
Aurora Geosciences arrived in camp on Tuesday July 31st to complete 28.5 line kilometres of survey on the Justin property to infill the area in between the existing Justin and VF magnetic surveys. A post-field report summarizing the ground magnetic survey will be received by the Company within 14 days.

 

(Tim J. Termuende, P.Geo., is a director and the Qualified Person for Aben Resources as defined by National Instrument 43-101 and has reviewed and approved the drilling updates that are posted here above.)

 

Aben Resources is trading at $0.06 / share with a market cap of just under $7 million. If you have any questions at all about the Company or the Justin Gold Project, please do not hesitate to give us a call at 604-687-3376 or visit the website at www.abenresources.com

 

Regards,

 

Jordan Trimble and Don Myers

Corporate Communications



You can also view this News Release on our website at:
http://www.abenresources.com/s/FieldUpdate.asp?ReportID=541006
 
    
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Aben Resources Ltd.

EXPLORATION STAGE
CODE : ABN.V
ISIN : CA00289T1084
CUSIP : 20855Q106
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Aben Resources is a gold and molybdenum exploration company based in Canada.

Aben Resources holds various exploration projects in Canada.

Its main exploration properties are RALEIGH LAKE, HIT, SPROGGE, SELWYN LAKE, GAMA LAKE, HUARD-KIRSCH LAKE, RUSTY SPRINGS, MANN LAKE and NWT PERMITS in Canada.

Aben Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.1 millions as of today (US$ 893 820, € 782 986).

Its stock quote reached its highest recent level on June 11, 1999 at CA$ 96.00, and its lowest recent point on August 09, 2022 at CA$ 0.04.

Aben Resources has 31 940 000 shares outstanding.

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