Aben Resources Provides Update on Pringle North Project in Ontario
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 27th, 2022
Aben Resources Provides Update on Pringle North Project in Ontario
Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2)
(“Aben” or “the Company”) is pleased to provide an update on the Pringle North Project located
55 kilometers north of the prolific Red Lake Gold Camp in Ontario. The Pringle North Property
straddles the interpreted northern extension of the deep -seated geologic structures that host
many of the gold deposits within the R ed Lake Gold Camp. The newly termed ‘Red Lake
Extension’ is a crustal-scale extensional feature identified by seismic reflection surveys and has
been described by the Ministry of Energy, Northern Development and Mines as similar in nature
and significance to the structures that host the Red Lake Gold Belt.
Aben geologic personnel have been compiling and interpreting geophysical and geologic data
from several sources from across the Red Lake Gold Belt , including the finalized results from a
high-resolution airborne magnetic survey completed over the Pringle North Property in the Fall of
2021. The magnetic geophysical maps illustrate several apparent convergent structural breaks
and extensional features that are common to all gold deposits in the Belt. The structural
complexity illustrated by the magnetic survey offers strong evidence of wide -spread shearing,
folding and faulting , structural controls that can provide fluid pathways and traps for gold
mineralizing fluids in potentially economic concentrations.
Figure 1. Pringle North Property TMI Geophysical Map
https://abenresources.com/site/assets/files/4247/tmi_pringle_north_-_2022.jpg
In addition to the full spectrum of structural controls present on the Property, Pringle North is host
to several surface samples that tested at or above the 95 th percentile from an overburden
sampling program by Agnico Eagle in 2009. A substantial belt of mafic to ultramafic rocks that
parallel the Nungesser Deformation Zone (NDZ) have been mapped on the property. Age
determination by Sanborn et al, 2004 , dates this volcanic-sedimentary belt at 2.94 billion years
old and assigns it to the Balmer Assemblage , which is host to the gold mines in the Red Lake
Camp.
Figure 2. Pringle North Property Gold Values in Till
https://abenresources.com/site/assets/files/4246/gold_values_in_till_-_pringle_2022_map.jpg
About the Pringle North Property:
The Pringle North Property consists of 5 contiguous mining claims covering approximately 1,881
hectares, and is located 55 kilometers north of the prolific Red Lake Gold Camp. The Property
sits within the ‘Red Lake Northern Extension’ corridor, an area that saw a mark ed increase in
exploration activity in 2021. The Pringle North Property has had very limited ground exploration
so the planned field exploration program in the Spring of 2022 will be an exciting advancement
for the Company.
The Red Lake Mining Complex is located within the Red Lake greenstone belt of the Superior
Tectonic Province. This belt is host to one of Canada’s largest and richest Archean gold deposits
producing more than 26 million ounces of gold since the 1930s. The Red Lake Greenstone Belt
is subdivided into several rock assemblages recording magmatic and sedimentary activities that
occurred from 3.0 to 2.7 billion years ago.
In July, 2021 Aben Resources signed an agreement whereby they can earn-in an 100% right, title
and interest in and to the Property by paying to the Optionors a total of $97,000 and issuing to
the Optionors a total of 320,000 common shares. The Optionors shall retain a 1.5% Net Smelter
Returns Royalty, of which the Company may purchase 0.5% at any time for $600,000.
Figure 3. Pringle North Property Location Map
https://abenresources.com/site/assets/files/4245/pringle_property_location_-_2022_map.jpg
Qualified Person:
Cornell McDowell, P.Geo., V.P. of Exploration for 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 and graphite exploration company with exploration projects
in British Columbia, Ontario, and the Yukon Territory. Aben is a well -funded junior exploration
company.
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:
Aben Resources Ltd.
Telephone: 604-558-5847
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 futu re 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 general econom ic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further information.