Aben Interprets Data from 2017 Geophysical Survey to Outline Targets for Upcoming Drill Program at Chico Gold Project, Saskatchewan
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, V7Y 1K4, CANADA
www.abenresources.com
TSX-V Trading Symbol: ABN
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
January 15, 2018
Aben Interprets Data from 2017 Geophysical Survey to Outline Targets for
Upcoming Drill Program at Chico Gold Project, Saskatchewan
Vancouver, BC -- Aben Resources Ltd. (TSX -V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2)
(the “Company”) is pleased to announce the receipt of the finalized data f rom a ground-based
induced polarization geophysical survey that was conducted in June 2017 on the 4,657 hectare
Chico Gold Project located 125 kilometres east of La Ronge, Sask atchewan and 40 kilometres
south of SSR Mining's (formerly Silver Standard Resources) Seabee gold operation. Aben
Resources holds the exclusive right to earn an undivided 80 -per-cent interest in the property by
completing $3.5 -million in exploration expenditures, issuing 2.5 million shares and making
$150,000 in cash payments to Eagle Plains Resources (TSX -V: EPL) by 2020. Aben recently
made a cash payment of $25,000 and issued 250,000 common shares to Eagle Plains, pursuant
to the terms of the current option agree ment. Aben intends to carry out diamond drilling on the
Chico property in late February. Permitting and detailed planning for the program is currently
underway. Chico drilling activity is expected to be conducted concurrently with a 10,000m winter
drill program to be carried out by SSR Mining Inc. on Eagle Plain’s Fisher Property, located 6km
north of Chico.
Chico Gold Project, Saskatchewan location map:
http://www.abenresources.com/i/maps/ABN_Chico_Location_and_Highlights.jpg
The 14 line km MRI-32 IP/DC-Resistivity and Magnetic survey was centered over both the Chico
and Western structural trends, which host high -grade gold mineralization at surface and within
historic drill intercepts. The Chico mineralized s tructural corridor extends in excess of 1 400
metres along strike and spans up to 150 metres in width with several mineral occurrences
contained within. Highlights include:
High grade intercepts from historic drilling include 14.5 grams/tonne (g/T) (0.424 oz/ton)
gold over 0.4m at Chico showing and 9.6 g/T (0.281 oz/ton) gold over 2.0m at Royex showing
Hole MW93-20 returned five significant intercepts ranging from 0.51 g/T gold over 1.5
metres, to 36.3 g/T gold over 0.3 metres (AR 63M06-0041)
The 2017 geophysical survey has discovered a large high-chargeability zone centered below the
middle po rtion of the Chico shear zone with some vertical chargeability structures exten ding
upward from the root zone. The high-chargeability response may result from the presence of
abundant sulfide minerals such as pyrite, pyrrhotite and chalcopyrite, which are closely associated
with gold mineralization on the Property. The top of the root zone appears to extend to within 150
metres of the surface and represents an attractive and high -priority drill target given th at multi-
gram gold intercepts have been historically reported above and adjacent to it. Of the 22 historic
drill holes located on the Property, the deepest has reached 110 metres vertical depth (157 metres
down hole) and was not collared in this zone of high chargeability. Two short videos depicting the
zone can be viewed here: https://www.youtube.com/watch?v=vQPSgr-g0Vg and
https://www.youtube.com/watch?v=zBen-X8HFzI.
Chico Property – Recent and Historic Exploration Activity:
Exploration programs in 2016 and 2017 involved systematic fieldwork including a 661 line -
kilometre airborne magnetometer geophysical survey, mapping, trenching, soil geochemical
analysis and the aforementioned ground -based IP-Resistivity-Magnetic survey. The systematic
exploration has enabled field crews to identify mineralization, alteration and structural features
similar to those at the nearby Seabee and Santoy deposits , located 40 kilometres to the north.
The Seabee Gold operation has been in continuous production since 1991, producing 1.2 million
ounces of gold from the two deposits. Seabee and Chico are comparable in that mineralization is
spatially related to splays of the Tabernoor Fault and are hosted in sub-parallel shear structures
which cross-cut the local intrusive complex. High-grade gold mineralization at both Seabee and
Santoy extends well below the shallow depths to which the Chico Project has thus far been
explored.
Chico Exploration History:
Trenching and drilling activities carried out by Corona Corporation and Cameco from 1988 to 1993
defined a mineralized strike length of over 1400 metres. Trenching by Corona at the Royex
showing returned five chip samples greater than 1000 ppb gold with a best (chip) sample of 14.3
g/T gold over 1 metre (AR 63M06-0034). Follow-up diamond drilling by Cameco near the Royex
trench returned five significant intercepts ranging from 0.51 g/T gold over 1.5 metres, to 36.3 g/T
gold over 0.3 metres (AR 63M06-0041).
Mineralized shear zones and quartz veining that define the Chico Zone are hosted in diorite and
granite rocks and especially along the sheared contact between these two units. The Chico and
the adjacent parallel Ed and Western structural zones are related splay structures off the larger
Tabbernor fault system. Despite the significant surface discoveries of gold along these structural
trends, mineralization remains largely untested at depth and along strike extensions.
The Tabbernor fault is a 1,500 kilometre-long regional structure which has been traced from as
far north as the Rabbit Lake uranium mine in northern Saskatchewan to as far south as the Black
Hills of South Dakota, the latter of which hosts the 40-million-ounce Homestake gold deposit. The
shared proximity to the Tabbernor structure and similarities in terms of age and tectonic history
to the Homestake and Seabee/Santoy deposits was the main driving force behind Aben's interest
in the Chico property. Management cautions that past results or discoveries on proximate land
are not necessarily indicative of the results that may be achieved on the subject properties. Aben
has not been able to independently verify the methodology and results from historical work
programs within the property boundaries. However, management believes that the historical work
programs have been conducted in a professional manner and the quality of data and information
produced from them are relevant.
Cornell McDowell, P.Geo., V.P. of Exploration of Aben Resources, 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 Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in
British Columbia, Saskatchewan and the Yukon Territory. Aben is a well-funded junior exploration
company with approximately 62.7 million shares issued and outstanding. For further information
on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Investor Relations
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This release includes certain statements that may be deemed to be "forward -looking statements". All
statements in this release, other than statements of historical facts, that address events or developments
that management of the Company expects, are forward -looking statements. Although management
believes the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarante es of future performance, and actual results or
developments may differ materially from those in the forward-looking statements. The Company undertakes
no obligation to update these forward -looking statements if management's beliefs, estimates or opinions,
or other factors, should change. Factors that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and development successes, continued
availability of capital and financing, and gene ral economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.