03:38:49 EDT Wed 15 May 2024
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Aben Minerals Ltd
Symbol ABM
Shares Issued 18,719,736
Close 2024-01-29 C$ 0.09
Market Cap C$ 1,684,776
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Aben Minerals files NI 43-101 report for Forrest Kerr

2024-01-30 11:17 ET - News Release

Mr. Riley Trimble reports

ABEN MINERALS FILES NI 43-101 TECHNICAL REPORT ON THE FORREST KERR GOLD PROJECT

Aben Minerals Ltd. has received and filed a National Instrument 43-101 compliant technical report pertaining to Aben's 100-per-cent-owned, 23,397-hectare Forrest Kerr gold project in the Golden Triangle, British Columbia.

The Forrest Kerr property

From July, 2016, to September, 2021, Aben completed 22,957.5 metres of diamond drilling in 72 drill holes, collected 1,282 soil samples, 371 rock samples and 11 stream sediment samples, and completed an airborne magnetic survey over the Boundary valley totalling 173 line-kilometres of data. The global database for the property now includes 190 drill holes, 2,500 rock samples and over 20,000 soil samples.

The widespread base and precious metal mineralization present on the Forrest Kerr property is spatially related to the Forrest Kerr fault, a regional-scale crustal break that transects the entire property for over 50 kilometres. High-grade mineralization has been discovered in multiple fault-controlled subparallel zones adjacent to the Forrest Kerr fault and related structures. Extensive alteration zones that extend well beyond the known areas of mineralization indicate that the Forrest Kerr property hosts a large hydrothermal mineralizing system with excellent opportunity for further discovery of significant base and precious metals.

North Boundary zone

Highlight drill hole FK17-05 intercepted 1.2 grams per tonne gold, 1.8 g/t silver and 0.21 per cent copper over 122 metres that includes 10.9 g/t Au, 14.6 g/t Ag and 1.5 per cent Cu over 12 metres with a high-grade core of 21.5 g/t Au, 28.5 g/t Ag and 3.1 per cent Cu over six metres. The mineralized zone encountered represents a near-surface, high-grade discovery comprising strong quartz and quartz-carbonate veining with well-mineralized breccia horizons.

South Boundary zone

Despite extensive work done by Aben Resources and previous operators, the bulk of the Forrest Kerr property remains underexplored with respect to drilling. In particular, the South Boundary zone warrants additional drilling to determine its potential for a low-grade bulk-tonnage Au-Cu resource.

Aben's president and chief executive officer, Riley Trimble, remarked: "The NI 43-101 technical report for our Forrest Kerr gold project is a collection of six years of exploration work. The compelling data, particularly from the North Boundary zone, reinforces the project's immense potential.

"Aben, with two key Canadian gold projects in the Golden Triangle of British Columbia and the Tombstone gold belt of the Yukon, views the Forrest Kerr project and the Justin project individually as pivotal assets.

"Looking ahead, we are actively exploring strategic options, including a joint venture partnership or even complete sale of the Forrest Kerr project, to continue the advancement of our Justin project. I believe it is worth noting that both projects are adjacent to exploration projects owned by Seabridge Gold -- their Iskut project in the Golden Triangle shares a border with our Forrest Kerr, and their 3 Aces project in the Yukon borders Aben's Justin project. These neighbouring projects had approximately $14.68-million spent collectively on exploration in 2023 according to Seabridge Gold's Sept. 30 third quarter MD&A filing."

Qualified person

Cornell McDowell, PGeo, vice-president of exploration for Aben Minerals, has reviewed and approved the technical aspects of this news release and is the qualified person as defined by National Instrument 43-101.

About Aben Minerals Ltd.

Aben Minerals is a Canadian gold exploration company with exploration projects in Yukon and British Columbia. The company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The company has 18.7 million shares outstanding.

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