Aben Resources Mobilizes Crews to Rusty Springs Silver-Copper Project, Yukon, Update on Yukon and NWT Exploration Projects
VANCOUVER, BRITISH COLUMBIA, Jun 22, 2011 (MARKETWIRE via COMTEX News Network) --
Aben Resources Ltd. (TSX VENTURE: ABN) (FRANKFURT: E2L) (the "Company") is pleased to announce the mobilization of crews to the 2,718 acre Rusty Springs silver and base metal project in the Yukon Territory. Past drilling highlights from the property include 1,140 g/t (33.27 oz/t) silver, 2.30% copper and 4.72% lead over 37.5 metres (123 feet) from surface to a depth of 37.5 metres. A second hole located 1.5 kilometres away tested the same stratigraphic interval and returned 517 g/t (15.1 oz/t) silver, 3.0% copper and 1.3% zinc over 15.3 metres near surface.
Aben's Yukon and Northwest Territories (NWT) Properties Claims Map:
https://www.abenresources.com/i/maps/ABN_Property_Location.jpg
A nine man crew has been mobilized to the Rusty Springs Project to initiate a regional mapping and sampling program in advance of a diamond drill program planned for later in the field season. A review of previous work and drilling is underway and a heliborne magnetic survey has been scheduled. The geology of the Rusty Springs area is favourable for a magnetic survey to help define stratigraphy, structure and the presence of buried intrusives. The survey will include 1,800 line kilometres flown at a spacing of 500 metres in an east-west orientation and is planned for July. The field crews will be based out of the Eagle Plains Lodge on the Dempster Highway.
A crew has also been deployed to the Rusty Springs Project to refurbish the airstrip located on the property. When this is complete it will allow fuel and equipment to be flown in by fixed wing aircraft from Eagle Plains to assist with survey and drilling logistics.
Aben's Rusty Springs Silver and Base Metal Project Location Map:
https://www.abenresources.com/s/RustySprings.asp
The Rusty Springs Project hosts silver-lead-zinc-copper mineralization associated with a 25-40 metre thick replacement horizon within carbonate rocks. Throughout the property area, some 35 showings are present which consist of both high-grade vein occurrences and lower-grade replacement mineralization. The mineralization on the property has been defined over a 6 square kilometre area.
Aben is earning a 100% interest in the Rusty Springs Property from Eagle Plains Resources Ltd. (TSX-V: EPL). The property is located north of Dawson City, Yukon.
The Justin Gold Yukon Project Update
Diamond drilling on the Company's 100% owned, 4,114 acre Justin Project is expected to start in early August with approximately 2,000 metres of drilling planned from up to four pad locations. This program is expected to take four to five weeks to complete. In addition to this, there will be mapping and sampling work done in the interim to complete the current data set for the project.
The property is host to numerous styles of intrusive and sediment hosted gold mineralization located within several main bulk-tonnage target areas. There are three different styles of mineralization including epithermal, skarn and sediment-hosted gold mineralization. The variety of mineralization styles makes the property an excellent candidate for combined bulk-tonnage and high-grade gold mineralization. Past chip sampling from the property returned an average grade of 2.38 g/t gold over 22.5 metres.
The Selwyn Recce, Hit, and Rude Creek Yukon Projects Update
Exploration programs are also planned on the Company's other Yukon projects including its 100% owned, 1,100 acre Hit gold project and its 100% owned, 31,382 acre Rude Creek gold project as well as the 426,821 acre Selwyn Recce prospecting permits project located to the east of ATAC Resources' Rackla gold project.
Aben's total budget is approximately $5 million for exploration this year on its Yukon and Northwest Territories (NWT) projects.
Ontario Properties Option Agreements Cancelled
In other news, the Company has cancelled its Property Option Agreement (the "Option Agreement") dated August 31, 2009 with Robert Fairservice. Pursuant to the terms of the Option Agreement, Aben had been granted an option to acquire a 100% interest in the Raleigh Lake and Selwyn prospects located in the Kenora and Thunder Bay Mining Districts in Ontario. The Company feels that the results of the previous exploration work were not encouraging enough to warrant further property and option expenditures.
About Aben Resources
Aben Resources is a Canadian gold and silver exploration company developing properties in the Yukon and Northwest Territories. The Company is well funded with over $7 million in its treasury.
For further information on Aben Resources Ltd. (TSX VENTURE: ABN), visit our Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
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.
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