With $5.5 million in the treasury, strong summer
drilling results and multiple projects in the works, Aben Resources makes
plans for 2019.
Aben
Resources Ltd. (ABN:TSX.V; ABNAF:OTCQB), a Canadian gold exploration
company, recently released final results from its 2018 diamond drilling project at
the Forrest Kerr Gold Project.
Located in British Columbia's Golden Triangle, the summer drilling began
in June 2018. Now that all numbers are in, Aben is ready to power forward
into 2019.
Aben saw lots of action in 2018. In August 2018, management announced
multiple shallow high-grade zones at its Forrest Kerr Gold Project. This
includes 62.4 g/t gold over 6.0m within 38.7 g/t gold over 10.0m.
The company expects that drilling will begin again in late May 2019. Jim
Pettit, Aben's president and CEO, stated that the company was able "to
get a lot of good work done this year and [we] have a tremendous amount of
data to analyze to help get ready for next year."
"Subsequent to completion of the summer drill program Aben received
the much anticipated 5 year Multi-Year Area Based (MYAB) permit, which will
allow for more extensive drill programs going forward," the company
stated.
Aben also noted that it "maintains a healthy treasury which will
allow for an aggressive 2019 exploration program at Forrest Kerr without
significant dilution." Eric Sprott is a large strategic shareholder.
Some of Aben Resources' financial milestones in 2018 include:
Aben Resources isn't the only one with eyes on the area. North of Aben’s
Forrest Kerr Project is GT Gold's Tatogga property and Golden Ridge
Resources' Hank property. And adjacent to the south of Aben's Forrest Kerr
Project is Colorado Resources' KSP property and Garibaldi Resources' Nickel
Mountain.
In addition to the Forrest Kerr Project, the company has two other
projects it's been working on: the Chico Gold Project in Saskatchewan and the Justin Gold Project in the Yukon.
The Chico Gold Project is 125 kilometers east of La Ronge, Saskatchewan,
and 40 kilometers south of SSR Mining's Seabee/Santoy mine complex. The
project is workable all year long, and Aben has an option to earn up to 80%
of the project.
In 2016, the Seabee/Santoy achieved highest annual gold production in
26-year history, hitting 77,640 ounces from feed averaging 7.91 g/t Au.
The Justin Gold Project, on the other hand, is 100% owned by Aben
Resources. The 18,314-acre project is located in southeast Yukon, adjacent to
Golden Predator's 3 Aces project, which also shares a similar geologic
setting.
"The property has the potential to host both high-grade and
bulk-tonnage gold zones within three different styles of mineralization:
epithermal, skarn and sediment-hosted," according to Aben Resources.
In a recent update on the Justin Gold Project, the geologic team
reported visible gold in trenches and channel samples from quartz stockwork
veining in bedrock at the Lost Ace Zone, a gold-bearing zone discovered in
2017.
"Channel sampling at Lost Ace in 2017 returned 1.44 g/t Au over 5m
including 4.77 g/t Au over 1.0 m in addition to a bulk soil sample that
contained 1135 visible gold grains."
Ahead of the Herd's Rick Mills wrote that ABN shares are a "buy."
Mills noted, "Aben is not a winter play anymore, it truly has turned
into a year-round play with three very good projects and a lot of money in
the treasury."
ABEN currently has 111 million shares outstanding, with 133 million shares
fully diluted. Aben shares currently sit at CA$0.16.
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