The snowpack is melting in the mountains of the Golden Triangle gold mining region in British Columbia, heralding a summer of increased drilling activities for Aben Resources.
Aben Resources Ltd. (ABN:TSX.V; ABNAF:OTCQB) is gearing up to sink clusters of exploratory holes in its Forest Kerr project—which is centered on a fault-fractured valley in the middle of the legendary Golden Triangle.
The mountainous Golden Triangle—which butts up against a wild coastline—is a famously inaccessible resource. Historically, the Golden Triangle has rewarded miners who braved its rugged, uncivilized wilderness with fine returns on investments.
But during periods of lower metal prices, Golden Triangle properties have lain fallow. When gold starting trending up over the long term and with the retreat of regional glaciers, prospecting in the Golden Triangle just got a whole lot easier. With new roads and a hydroelectric run-of-river dam system and a $700 million electric transmission line completed, mining companies can now calculate favorable margins.
Aben Resources' Golden Triangle claims consist of a 40-kilometer-long north-south belt overlying rocks of the Hazelton and Stuhini Groups, which is a complex assemblage of volcanic accumulations with intervening sedimentary sequences, according to company reports.
Aben Resource's Jim Pettit told Streetwise Reports, "The formation is host to significant precious and base metal deposits. We are using the best technology to drill precisely."
Pettit has been president and CEO and a director of Aben Resources since November 2002. He was previously chairman and CEO of Bayfield Ventures Corp., which was acquired by New Gold Inc. in 2014. He is stoked by his company's discovery—last summer—of a mineral-packed zone called the North Boundary Zone on its Forest Kerr property. The highest grade in the North Boundary Zone consists of 331.0 grams per tonne (g/t) gold (Au) over 1.0 meter within a broad zone averaging 38.7 g/t Au over 10.0m from 114.0–124.0m including 62.4 g/t Au over 6.0m (true thicknesses undetermined).
The southern boundary of Forest Kerr is alive, too. Broad intercepts taken two summers ago returned 1.2 g/t Au, 1.8 g/t silver (Ag) and 0.21% copper over 122 meters that includes 10.9 g/t Au, 14.6 g/t Ag and 1.5% Cu over 12 meters with a high-grade core of 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu over 6 meters.
Aben Resources is not alone in its assessment that the riches of the Golden Triangle are but barely tapped. GT Gold Corp.'s (GTT:TSX.V) Tatogga Property and Golden Ridge Resources Ltd.'s (GLDN:TSX.V) Hank are also finding lodestone. As much as $100 million is currently in play exploring this vital region. With more than $5 million banked, Aben is ready for what ever it takes to declare a strike.
Aben Resources is committing $3 million to drilling and trenching Forest Kerr. The company is on the verge of earning a 100% interest in the property. Pettit is combining helicopter and drone reconnaissance with 3D computer-modeling and boots tramping on the ground to further sample Forest Kerr's 23,000 hectares. Aben Resources is increasing its workforce.
Last year's exploration was limited to nine permitted pads, which produced 36 holes. Aben Resources is now licensed to drill in multiple directions from 40 pads. The firm aims to surpass last summer's total drill run of 10,000 meters, Pettit said.
Aben is also exploring another promising project, Justin Gold in the Yukon. The company holds a 100% stake in the Justin Gold Project in southeast Yukon, close to Golden Predator's Three Aces discovery. Resource Maven Gwen Preston recently observed that the Justin venture adds value to Aben Resource' prospects in the stock market.
Pettit explained, "A bulk soil sample taken from Lost Ace in 2017 contained 1,135 visible gold grains, the majority were pristine, indicating a proximal bedrock source for the gold. We are at a higher elevation but in the same formation as Three Aces. It's an orogenic, veining system with visible high grade. Results from trenching last year were anywhere from trace to 88 grams. This year we are deploying an RAB drill, to drill 20 holes at least 50 meters deep as well as 6 diamond drill holes."
Greg McCoach of The Mining Speculator lists Aben Resources as a Buy, telling investors, "I am hoping and anticipating the company will get another good run in the share price, possibly taking us over the C$0.50 level if we can generate further high-grade results expanding our known zones of mineralization."
It is worth mentioning that Aben Resources Chairman Ron Netolitzky has been directly associated with three major gold discoveries in Canada that have subsequently been put into production, two of which are in the Golden Triangle: Eskay Creek, Snip and Brewery Creek.