Located in British Columbia's Golden Triangle, the summer drilling began in June 2018. Now that all numbers are in, Aben is ready to power forward into 2019.
Aben saw lots of action in 2018. In August 2018, management announced multiple shallow high-grade zones at its Forrest Kerr Gold Project. This includes 62.4 g/t gold over 6.0m within 38.7 g/t gold over 10.0m.
The company expects that drilling will begin again in late May 2019. Jim Pettit, Aben's president and CEO, stated that the company was able "to get a lot of good work done this year and [we] have a tremendous amount of data to analyze to help get ready for next year."
"Subsequent to completion of the summer drill program Aben received the much anticipated 5 year Multi-Year Area Based (MYAB) permit, which will allow for more extensive drill programs going forward," the company stated.
Aben also noted that it "maintains a healthy treasury which will allow for an aggressive 2019 exploration program at Forrest Kerr without significant dilution." Eric Sprott is a large strategic shareholder.
Some of Aben Resources' financial milestones in 2018 include:
- $2.32 Million Private Placement Closing
- $4 Million Private Placement Led by Eric Sprott
- $950,000 Flow-Through Private Investment
Aben Resources isn't the only one with eyes on the area. North of Abenís Forrest Kerr Project is GT Gold's Tatogga property and Golden Ridge Resources' Hank property. And adjacent to the south of Aben's Forrest Kerr Project is Colorado Resources' KSP property and Garibaldi Resources' Nickel Mountain.
The Chico Gold Project is 125 kilometers east of La Ronge, Saskatchewan, and 40 kilometers south of SSR Mining's Seabee/Santoy mine complex. The project is workable all year long, and Aben has an option to earn up to 80% of the project.
In 2016, the Seabee/Santoy achieved highest annual gold production in 26-year history, hitting 77,640 ounces from feed averaging 7.91 g/t Au.
The Justin Gold Project, on the other hand, is 100% owned by Aben Resources. The 18,314-acre project is located in southeast Yukon, adjacent to Golden Predator's 3 Aces project, which also shares a similar geologic setting.
"The property has the potential to host both high-grade and bulk-tonnage gold zones within three different styles of mineralization: epithermal, skarn and sediment-hosted," according to Aben Resources.
In a recent update on the Justin Gold Project, the geologic team reported visible gold in trenches and channel samples from quartz stockwork veining in bedrock at the Lost Ace Zone, a gold-bearing zone discovered in 2017.
"Channel sampling at Lost Ace in 2017 returned 1.44 g/t Au over 5m including 4.77 g/t Au over 1.0 m in addition to a bulk soil sample that contained 1135 visible gold grains."
Ahead of the Herd's Rick Mills wrote that ABN shares are a "buy."
Mills noted, "Aben is not a winter play anymore, it truly has turned into a year-round play with three very good projects and a lot of money in the treasury."
ABEN currently has 111 million shares outstanding, with 133 million shares fully diluted. Aben shares currently sit at CA$0.16.
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