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Aben Interprets Data from 2017 Geophysical Survey to Outline Targets for Upcoming Drill Program at Chico Gold Project, Saskatchewan
VANCOUVER, British Columbia, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to anno
About this update from Aben Gold Corp
[{"type":"text","content":"VANCOUVER, British Columbia, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to announce the receipt of the finalized data from 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, Saskatchewan 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 agreement. 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: 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 structural corridor extends in excess of 1400 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 portion of the Chico shear zone with some vertical chargeability structures extending upward from the root zone. The high-chargeability response may result from the presence of abundant sulfide minerals such as pyrite, p...