Aben Resources (TSX-V: ABN) is a Canadian gold, silver, and uranium exploration company developing properties in the Yukon, NWT, and Saskatchewan's Athabasca Basin.
The Company's flagship project is its 100% owned, 18,314 acre Justin Gold Project located in the southeast Yukon. It is approximately 35 km southeast of the Cantung Mine and has an all season road running through its claims. A phase one 2,020 metre diamond drill program consisting of ten drill holes was carried out in 2011 on the Justin Project to assess the potential gold and silver mineralization at the property's never before drilled POW, Kangas and Confluence Zones. A significant new greenfield gold discovery was made at the POW Zone where Aben intercepted 60.0 metres of 1.19 g/t gold in hole JN11009 at a vertical depth of 113 metres. Additionally, a new high grade silver-copper zone was discovered 1.4 km away at the Kangas Zone with hole JN11003 returning 1.07 metres of 7320 g/t silver (234 oz/ton) and 3.52% copper near surface.
The presence of a shallowly buried intrusion and an Intrusion Related Gold System (IRGS) has been confirmed by consistent IRGS mineralogy and characteristic sheeted veining as observed in drill core and surface mapping (multi-phased gold mineralization is present at the project). Notable IRGS deposits within the Tintina Gold Belt include Kinross' Fort Knox operation in Alaska (reserves of 4.3 million ounces of gold), and Victoria Golds' Eagle Gold Deposit (reserves of 2.3 million ounces of gold, indicated resources of 4.8 million ounces of gold and inferred resources of 1.5 million ounces of gold).
The exploration in 2012 at the Justin Project included an aggressive diamond drill program focused on follow-up and expansion work around last year's drilling as well as additional infill geophysical and geochemical surveys. A total of 1,994 metres was drilled in nine holes during the 2012 field season with all seven drill holes that were completed to their target depths successfully intersecting gold mineralization. Significant drill results from the program included 46.4 metres of 1.49 g/t gold in hole JN12011 and 88.5 metres of 0.73 g/t gold in hole JN12018. The POW Zone ramins open in all directions and the vast majority of the intrusive stock and its surrounding contact aureole have yet to be tested.
Aben Resources has systematically explored and acquired a large land package directly east of the Yukon/NWT Territorial border known as the Selwyn Recce area. The area has garnered considerable attention recently with the discovery of Carlin-style mineralization in the Yukon at ATAC Resources' (TSX-V: ATC) Osiris gold zone discovery. The current Aben permits cover prospective targets with both Carlin-style stratigraphy and promising geochemical signatures. Field crews completed a very large scale regional reconnaissance program on the Company's Selwyn Recce Project in 2011 that included geological mapping, regional prospecting, geochemical surveys and geophysical surveys. The work program culminated in a proprietary database exclusive to Aben consisting of 21,000 geochemical samples in a very underexplored area of the NWT. Over $8.5 million has been spent in field work and data compilation/analysis to create the database. The 2011 field work was also successful in delineating four high-priority targets warranting further exploration and the Company was very aggressive in staking land in the Selwyn Recce area. Aben now owns 100,278 acres of highly prospective ground in the NWT and the Yukon in this region.
Aben holds interest in approximately 40,000 acres (160 square kilometres) of highly prospective ground within the eastern flank of the Athabasca Basin in northern Saskatchewan. Aben owns 49% of the Huard-Kirsch Lakes Uranium Project with Denison Mines Corp. (TSX: DML) owning the other 51%. The property is situated approximately 20 kilometres to the NW of Cameco Corporation's high-grade McArthur River Uranium Mine. Aben also owns a 40% interest and Canterra Minerals Corp. (TSX-V: CTM) owns the other 60% of the Mann Lake property, which is located approximately 25 kilometres to the SSW of the McArthur River Mine and 15 kilometres to the NE of Cameco's Millennium (U3O8) discovery, and occurs at the northern extent of the B1 conductor.
The Company's goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.