Aben Resources Ltd. : Aben Provides Update on its Flagship Justin Gold Project, Yukon
January 7, 2013 - Vancouver, BC
Aben Resources Ltd. /Aben Resources Ltd. : Aben Provides Update on its Flagship Justin GoldProject,Yukon. Processed and transmitted by Thomson Reuters ONE.The issuer is solely responsible for the content of this announcement.
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NEWS RELEASE
January 7, 2013
Aben Provides Update on its Flagship Justin Gold Project, Yukon
Aben Resources Ltd. (TSX-V: ABN) (Frankfurt: E2L) (OTC Pink: ABNAF) (the "Company") is providing an update on its Yukon andNorthwestTerritories properties including its 100% owned, 18,314-acre JustinGoldProject. The Justin property is located in the southeast Yukonwithin theTintina Gold Belt approximately 35 kilometres southeast of the CantungMine andis accessed by an all-season road.
Justin Gold Project Location Map: http://www.abenresources.com/i/maps/ABN-Justin.jpg
In 2011, a first-pass drill program consisting of 2,020 metres in tendrillholes targeting four separate mineralized zones was completed on theJustinProject. During this program a significant new greenfield golddiscovery wasmade at one of the zones, known as the POW Zone, with drill highlightsincluding60.0 metres of 1.19 g/t Au including 21.0 metres of 2.47 g/t Au in holeJN11009.A total of 1,994 metres were drilled in nine holes during the 2012 fieldseasonat the Justin property with highlights including 46.4 metres of 1.49 g/tAu inhole JN12011. Including the two discovery holes drilled during the 2011fieldseason, all holes completed to target depths at the POW Zone haveintersectedgold mineralization and the zone remains open in all directions.
Justin Project Claims Map: http://www.abenresources.com/i/maps/Justin-Claim-Boundary.jpg
Highlights:
* Gold mineralizing events on the Justin property directlycomprise an intrusion- related gold system ("IRGS").
* All holes drilled to completion in the POW Zone thus far havesuccessfully intersected gold mineralization.
* Drill highlights include 60.0 metres of 1.19 g/t Au in hole JN11009,46.4 metres of 1.49 g/t Au in hole JN12011 and 88.5 metres of 0.73 g/t Au inhole JN12018.
* The POW Zone continues to exhibit strong continuity ofmineralization and remains open in all directions.
* The majority of the intrusive stock and its surrounding contactaureole at the Justin Project have yet to be tested and remain high prioritytargets for future exploration and drilling.
Summary of 2012 Exploration at the Justin Project:
The 2012 exploration program was successful in intersecting goldmineralizationboth in structurally-controlled sheeted veins and skarn stylereplacementsettings. The results indicate that an emerging discovery has been madeon theJustin property in an area described by geologists as an underexplored,emerginggold district within the Yukon Territory. Mineralization has been tracedalongsurface for approximately 450 metres west-east by 200 metres north-southand to205 metres depth.
Results from the 2012 diamond drill program are summarized in the tablebelow:
+----------------+----------+--------+--------------+----------+| Drill Hole | From (m) | To (m) | Interval (m) | Au (g/t) |+----------------+----------+--------+--------------+----------+| JN12011 | 131.6 | 178.0 | 46.4 | 1.49 |+----------------+----------+--------+--------------+----------+| Including | 145.5 | 160.5 | 15.0 | 3.08 |+----------------+----------+--------+--------------+----------+| Also Including | 147.5 | 156.7 | 9.2 | 3.80 |+----------------+----------+--------+--------------+----------+| JN12012 | 79.9 | 102.1 | 22.2 | 0.26 |+----------------+----------+--------+--------------+----------+| Including | 83.3 | 91.1 | 7.8 | 0.41 |+----------------+----------+--------+--------------+----------+| JN12013 | 14.2 | 21.3 | 7.1 | 0.67 |+----------------+----------+--------+--------------+----------+| Including | 17.0 | 18.2 | 1.2 | 3.11 |+----------------+----------+--------+--------------+----------+| And | 26.6 | 34.0 | 7.4 | 1.81 |+----------------+----------+--------+--------------+----------+| Including | 30.8 | 33.0 | 2.2 | 4.42 |+----------------+----------+--------+--------------+----------+| JN12014 | 41.5 | 43.3 | 2.8 | 4.22 |+----------------+----------+--------+--------------+----------+| And | 217.0 | 224.5 | 7.5 | 0.94 |+----------------+----------+--------+--------------+----------+| JN12015 | Hole Abandoned |+----------------+----------+--------+--------------+----------+| JN12016 | 98.0 | 99.0 | 1.0 | 4.15 |+----------------+----------+--------+--------------+----------+| And | 102.0 | 107.3 | 5.3 | 4.12 |+----------------+----------+--------+--------------+----------+| Including | 104.7 | 107.3 | 2.6 | 8.20 |+----------------+----------+--------+--------------+----------+| And | 133.2 | 133.6 | 0.4 | 4.46 |+----------------+----------+--------+--------------+----------+| JN12017 | Hole Abandoned |+----------------+----------+--------+--------------+----------+| JN12018 | 202.0 | 209.9 | 7.9 | 0.39 |+----------------+----------+--------+--------------+----------+| And | 211.7 | 223.2 | 11.5 | 1.38 |+----------------+----------+--------+--------------+----------+| And | 223.9 | 226.2 | 2.3 | 1.62 |+----------------+----------+--------+--------------+----------+| And | 227.1 | 249.0 | 21.9 | 1.06 |+----------------+----------+--------+--------------+----------+| And | 264.4 | 272.0 | 7.6 | 0.49 |+----------------+----------+--------+--------------+----------+| And | 272.9 | 276.9 | 4.0 | 1.38 |+----------------+----------+--------+--------------+----------+| Including | 272.9 | 273.2 | 0.3 | 14.40 |+----------------+----------+--------+--------------+----------+| JN12019 | 102.0 | 104.4 | 2.4 | 2.44 |+----------------+----------+--------+--------------+----------+| Including | 102.0 | 102.6 | 0.6 | 6.68 |+----------------+----------+--------+--------------+----------+| And | 175.5 | 177.8 | 2.3 | 1.29 |+----------------+----------+--------+--------------+----------+| And | 208.5 | 210.0 | 1.5 | 0.91 |+----------------+----------+--------+--------------+----------+ * g/t = grams per metric tonne* Au intercepts were calculated using a 0.1 g/t Au cut-off grade* The reported results above are down-hole interval lengths; true widthsfor the mineralized intercepts are not yet known
Jim Pettit, President of Aben Resources, stated: "The Company is verypleasedwith the drilling to date and how quickly an understanding has been gainedwithrespect to mineralizing controls at the Justin Property. The POW goldzone israpidly expanding and with everything learned this season we believe wehavejust scratched the surface of this exciting new greenfield discovery."
Follow up prospecting and surface sampling from the POW Zone continued toyieldprospective gold mineralization, expanding the POW Zone to the south andwest.Grab samples from sheeted veining in outcrop returned gold values rangingfromanomalous up to 22.20 g/t Au. One of these samples containing thefirstdocumented sights of visible gold on the property returned 3.66 g/t Au.
Justin Project Plan View of POW Zone Drilling:http://www.abenresources.com/i/maps/ABN-Justin-Project-Plan-View-of-2012-Pow-Zone-Drilling2.jpg
A 26 line kilometre ground based magnetics survey was completed during the2012field season to infill between two existing airborne magnetic surveyscompletedon the Justin and VF properties in 2010 and 2011. The following mapdisplays allthree geophysics grids stitched together. Key geological features havebeenhighlighted on the map. Magnetic survey data has proven to be an effectivetoolfor mapping structure, and the variable magnetic signature of the Justinstock,and associated contact skarns and hornfels.
Justin Project Geophysics and Areas of Interest for Drilling: http://www.abenresources.com/i/maps/ABN-Justin-Merged-Mag-Survey.jpg
A total of 450 conventional soil samples were collected during the 2012fieldseason. JNL016, a 4 kilometre ridge and spur soil line returned thestrongestgold in soil anomaly documented on the Justin Property to date. The soilsamplesare thought to be coincident with the extension of the N-S Justin faultzoneextending from the POW Zone through the main zone. Another area ofinterestoccurs approximately 2 kilometres west of the POW Zone where anomaloussoilsamples are coincident with a magnetic high signature, which mayrepresent acontinuation of skarn style mineralization similar to that observedwithin thePOW Zone. These features have been highlighted on the geochemicalcompilationmap below.
Justin Project Geochemistry Compilation Map:http://www.abenresources.com/i/maps/ABN-Justin-Geochemistry-Compilation-Map.jpg
Intrusion Related Gold Systems (IRGS) on the Tintina Gold Belt:
Producing IRGS deposits within the Tintina Gold Belt include Kinross' FortKnoxoperation in Alaska, with reported proven and probable reserves of 314milliontonnes grading 0.43 g/t gold, representing 4.3 million ounces of containedgold(Kinross Mineral Reserve and Resource Statement, December, 2011). AdvancedIRGSprojects in the Yukon include Victoria Gold's Eagle Gold Depositwhich isexpected to be the Yukon's next operating gold mine and includesProbableReserves of 2.3 million ounces of gold from 92 million tonnes of orewith agrade of 0.78 g/t gold (outlined in a NI 43-101 definitive feasibilitystudy).The NI 43-101 Compliant Mineral Resource has been estimated to host 222milliontonnes averaging 0.68 g/t gold, containing 4.9 million ounces of goldin theIndicated category, inclusive of Probable Reserves, and a further 78milliontonnes averaging 0.60 g/t gold, containing 1.5 million ounces of goldin theInferred category (Victoria Gold website, November, 2012). Readers arecautionedthat past results or discoveries on proximate land are notnecessarilyindicative of the results that may be achieved on the Justin property.
Selwyn Recce Project and Proprietary Database:
Aben's Selwyn Recce Project is comprised of the previously announcedNorthwestTerritories permits totaling 426,821 acres of ground (see news releasedatedFeb. 14, 2011) as well as an additional 147,404 acres of land that wasstakedduring the 2011 season in the Yukon and NWT east of ATAC Resources'(TSX.V-ATC)Osiris gold zones. Aben's large land position is considered prospectivefor thepresence of Carlin-type and intrusive-related gold deposits,carbonate andsedimentary-exhalative ("sedex") style silver-lead-zinc deposits, aswell assediment-hosted copper deposits.
Aben's NWT Selwyn Recce Prospecting Permits: http://www.abenresources.com/i/maps/ABN-NWT-Prospecting-Permits.jpg
Field crews completed a very large scale regional reconnaissance programon theCompany's Selwyn Recce Project in 2011 that included geologicalmapping,regional prospecting, geochemical surveys and geophysical surveys. Eighteenhighpriority targets had previously been identified to form the focus of the2011exploration efforts. The bulk of the field work was carried out on thehighpriority targets with many thousands of samples having been collectedincluding7368 soil samples, 681 rock samples, 668 silt samples, 14 heavy mineralbulksamples, and 51 petrographic analysis samples. All of the obtained datafrom the8,782 samples has been imported into a database to allow forgeologicalinterpretation and analysis. Aben now possesses the largest proprietarydatabasefor the region consisting of over 21,000 samples. The Company alsoconducted3,233 line kilometres of airborne magnetic and radiometric geophysicalsurveysto complement the sampling and prospecting program in 2011.
The field work was successful in delineating four high-prioritytargetswarranting further exploration. Highlights and conclusions from the2011exploration program at these five showings include:
* Grab samples from the ENYO target returned a range of assay resultsfrom anomalous silver and base metal numbers to as high as 651 g/t Ag and5.5% Zn.
* The Suriso showing is prospective for intrusion-related gold systemsbased on favourable geology and geochemical signatures.
* Grab sample assay results ranged from anomalous to as high as 0.4% Cu,2.3% Pb and 2.8% Zn from the Bonk showing with an extensive horizontraceable for over six kilometres.
* Eight grab samples from the Energizer target returned over 10 ppmThallium indicating the potential for Carlin-style gold mineralization in thearea.
The land mass over which the various targets are located is roughly36,000square kilometres and less than 10% of the ground has been systemicallyexploredto date. Aben is currently looking for a joint venture partner to helpadvancethe project or to sell the land package and proprietary database as theCompanyremains focused on exploring its flagship Justin Project.
Qualified Person and Quality Assurance:
Tim J. Termuende, P.Geo., is a Director and the Qualified Person forAbenResources' Justin Project as defined by National Instrument 43-101, hasreviewedand approved the technical information in this release. Rock and drillcoreanalysis was conducted by ALS Minerals Canada. Samples wereanalyzed formultiple elements by aqua regia 35 element ICP-AES and for gold by 30 gramfireassay with AA finish. Gravimetric fire assay was done for samplesreturninggreater than 10 g/t Au from ICP-AES analysis. When visible gold wasnoted indrill core or rock samples, and where fire assay results returned grades>5.0g/t Au, "Metallic Screen Fire Assay" analysis was utilized. Screenmetallicassay results are accepted as the most representative value and are usedin thegeochemical database. The Company has implemented a qualityassurance andquality control (QA-QC) program to ensure that the sampling and analysisof allsamples is conducted in accordance with industry best practices,includinginsertions of blank, standard, and duplicate samples.
TerraLogic Exploration:
Aben has engaged TerraLogic Exploration Inc. to oversee all aspectsof the2011-2012 exploration and drilling programs on the Company's Yukonprojects.TerraLogic has been operating mineral exploration projects in NorthAmericasince 1992 and has extensive experience in the Yukon and NWT.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration companyexploring anddeveloping its portfolio of properties in the Yukon and NWT in whichit hasexploration rights to more than 600,000 acres of land. The Company'sroad-accessible flagship property, the Justin Gold Project, boasts a newgreenfielddiscovery made in 2011.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit ourCompany'sweb site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS "Jim Pettit"____________________________JAMES G. PETTITPresident Neither TSX Venture Exchange nor its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements"that mayinvolve a number of risks and uncertainties. There can be no assurance thatsuchstatements will prove to be accurate, and actual results and future eventscoulddiffer materially from those anticipated in such statements. For a moredetaileddiscussion of such risks and other factors, refer to the Company's filingswithCanadian Securities regulators available on www.sedar.com.
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Jordan Trimble
Aben Resources Ltd.
Corporate Development and Communications
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Facsimile: 604-687-3119
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