Aben Resources Provides an Update on the Permit Application and a Summary of Exploration Results from the Slocan Graphite Property in Southeastern BC
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
October 11, 2022
Aben Resources Provides an Update on the Permit Application and a Summary of
Exploration Results from the Slocan Graphite Property in Southeastern BC
Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2)
(“Aben” or “the Company”) has now received analytical results from surface exploration work
completed in July 2022. The exploration program marked the first comprehensive field work to
assess the potential for the Property to host economic graphite m ineralization. Exploration work
comprised field mapping, rock and soil sampling, and the evaluation of prospective drill sites for
a planned future drill program.
Slocan Project Location
https://map.juniormininghub.com/?gid=3257&modal=project_summary
Aben geologists took a total of 52 rock and 83 soil samples from areas located both within and
outboard of the strong conductive anomaly identified by a 2010 airborne E lectromagnetic
geophysical survey. Previous work has shown that flake graphite mineralization grading in excess
of 4.5% is hosted in metamorphic rocks located within the Tedesco Conductive Anomaly. Results
from the 2022 rock sampling program returned a range of grades from trace to 4.36% graphitic
flake Carbon, which reflect s the variety of rock types from which the samples were sourced. A
previously unsampled zone located 2km northeast of the main conductive zone returned multiple
samples with grades between 1-2% graphitic Carbon, greatly extending the mineralized trend
along strike. This discovery compelled Aben to increase the size of the Slocan Graphite Property
to 2826 hectares through the addition of a 439.4 hectare claim via staking. The main Tedesco
Conductive Zone has never been drill -tested despite the compelling coincident g eophysical
conductor and the graphite-bearing surface rock samples.
The soil sampling program was completed over areas that lack outcrop exposure due to thickened
glacial cover in order to ascertain whether soil sampling can be a productive exploration t ool on
the Property. Results correlate well with known graphite mineralization and will help to delineate
new areas to target with increased sampling density, mechanical trenching and potential drill
holes. Two distinct areas of elevated graphite-bearing soil are visible on the accompanying map
(link below).
Slocan Surface Sampling
https://abenresources.com/site/assets/files/4277/surfacesamples.jpg
Slocan Tedesco Conductor
https://abenresources.com/site/assets/files/4229/slocan_tedesco_conductor.jpg
Aben Resources formally submitted a Notice of Work application for the Slocan Graphite Property
with the Ministry of Energy, Mines and Low Carbon Innovation in the Spring of 2022. The Multi-
Year Area Based (MYAB) permit application remains under review by the provincial government,
following meaningful consultation w ith two First Nations groups and the posting of a security
reclamation bond. Communication between Aben, the Ministry and the First Nations is ongoing
and progressive, yet a definitive date for receipt of the exploration permit remains uncertain.
About Slocan Graphite Project:
The Slocan Graphite Project benefits from excellent infrastructure including forestry road access
to and throughout the property, a high-voltage transmission line within 1. 0 km of the property
boundary and an existing graphite processing facility within 1.5 km of the property. The facility is
owned by Eagle Graphite Corporation , and is one of only two natural flake graphite production
facilities in North America.
Slocan Infrastructure
https://abenresources.com/site/assets/files/4229/slocan_infrastructure.jpg
Aben holds the exclusive right to earn a 100% interest, less 2% Net Production Royalty (“NP R”)
in the road -accessible Slocan Graphite Project , located 34km northwest of Castlegar, British
Columbia. The 2, 826 hectare Slocan Graphite Property hosts several flake graphite -bearing
outcrops (high values of 3.36 and 4.43 % graphitic Carbon) at the Ted esco Zone, which is
coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to
2.0km from the known surficial occurrences.
Slocan Presentation
https://abenresources.com/site/assets/files/4229/slocan_graphite_2022.pdf
About Graphite:
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy
growth rate of 9.5% in terms of value between 2021 and 2025.
In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An
average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.
Currently, synthetic graphite is the preferred material for battery anode materials. However, in the
past few years, a significant shift towards natural flake graphite has been observed due to its cost-
competitiveness and performance.
Graphite is the most preferred battery anode material for rechargeable batteries and the battery
segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and
2025.
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms
of value between 2021 and 2025.
China’s graphite production is anticipated to consolidate owing to environmental issues. New
companies are entering into the graphite space, especially in the processing of natural flake
graphite. Graphite is considered as a material of green energy and technology.
https://abenresources.com/projects/slocan/about-graphite/
Qualified Person:
Cornell McDowell, P.Geo. and Vice President of Exploration for Aben Resources, has reviewed
and approved the technical aspects of this news release and is the Qualified Person (Q P), as
defined by National Instrument 43-101.
About Aben Resources:
Aben Resources is a diversified Canadian gold and graphite exploration company with exploration
projects in British Columbia, Ontario, and the Yukon Territory.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s website at
www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Riley Trimble, Corporate Communications
Telephone: 604-416-2978
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 guarantees 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 ca use 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 general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further information.