Aben Resources Ltd.(TSX-V: ABN)(OTCQB: ABNAF) (Frankfurt: E2L2) ("Aben" or "the Company") is pleased to announce that the first phase of field exploration at the Slocan Graphite Project has been completed. The initial stage of exploration comprised field reconnaissance, geological mapping, rock and soil sampling, and the evaluation of prospective drill sites for a potential fall 2022 drill program.
Slocan Project Location https://map.juniormininghub.com/?gid=3257&modal=project_summary
During phase 1 exploration, Aben geologists took 52 surface rock samples from a variety of prospective lithologies over several kilometers. Geologic sampling and mapping has been greatly aided by the comprehensive network of logging roads that traverse the Property and provide wide-spread rock exposure. 2022 marks the first comprehensive exploration program to assess the potential for the Property to host economic graphite mineralization. Based on early field observations, Aben has added ground to the Slocan Graphite tenure with the addition of a 439.4 hectare claim by staking, bringing the total hectarage to 2826.
Slocan Surface Sampling https://abenresources.com/site/assets/files/4229/slocan_surface_sampling.jpg
Slocan Tedesco Conductor https://abenresources.com/site/assets/files/4229/slocan_tedesco_conductor.jpg
Aben currently has a Multi-Year Area Based (MYAB) application for the Property under review by the Ministry of Energy, Mines and Low Carbon Innovation of British Columbia. Communication between Aben, the Ministry and the First Nations is ongoing and progressive. Ground exploration free of mechanical disturbance is allowed to continue during this period of consultation.
The Slocan Graphite Project benefits from excellent infrastructure including forestry road access to and throughout the property, a high-voltage transmission line within 1.0 km of the property boundary and an existing graphite processing facility within 1.5 km of the property. The facility is owned by Eagle Graphite Corporation, and is one of only two natural flake graphite production facilities in North America.
Slocan Infrastructure https://abenresources.com/site/assets/files/4229/slocan_infrastructure.jpg
Aben holds the exclusive right to earn a 100% interest, less 2% Net Production Royalty ("NPR") in the road-accessible Slocan Graphite Project, located 34km northwest of Castlegar, British Columbia. The 2,826 hectare Slocan Graphite Property hosts several flake graphite-bearing outcrops (high values of 3.36 and 4.43 % graphitic Carbon) at the Tedesco Zone, which is coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to 2.0km from the known surficial occurrences.
Slocan Presentation https://abenresources.com/site/assets/files/4229/slocan_graphite_2022.pdf
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of 9.5% in terms of value between 2021 and 2025.
In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.
Currently, synthetic graphite is the preferred material for battery anode materials. However, in the past few years, a significant shift towards natural flake graphite has been observed due to its cost-competitiveness and performance.
Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and 2025.
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms of value between 2021 and 2025.
China's graphite production is anticipated to consolidate owing to environmental issues. New companies are entering into the graphite space, especially in the processing of natural flake graphite. Graphite is considered as a material of green energy and technology.
https://abenresources.com/projects/slocan/about-graphite/
Cornell McDowell, P.Geo. and Vice President of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person (QP), as defined by National Instrument 43-101.
Aben Resources is a diversified Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and the Yukon Territory.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company's website at www.abenresources.com.
"Jim Pettit" ______________________ JAMES G. PETTIT President & CEO
For further information contact: Aben Resources Ltd. Riley Trimble, Corporate Communications Telephone: 604-416-2978 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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From British Columbia to Newfoundland and all the provinces in between, there’s no denying Canada is a world-class mining destination. Not only have many mining operations struck gold, both literally and figuratively, but the nation has also recently made itself more mining-friendly with initiatives like the Canadian Minerals and Metals Plan. With mining-friendly laws and lucrative mining opportunities developing all over the country, it is no surprise that Canada ranks among the top five for 17 minerals and metals, ranking 5th in gold production worldwide.
The Golden Triangle represents an incredibly lucrative mining region within the country. This region is located in northwestern British Columbia and is known to be a hotbed for mineral exploration and acquisition. In 2020, $422M in mineral exploration expenditures in BC was reported and approximately 44 percent was for the Golden Triangle.
Numerous companies have been operating out of the region. Notable groups and their projects include Skeena Resources (TSX:SKE) and Hochschild Mining’s (LON: HOC) joint-venture Snip Gold Mine, and Newmont (NYSE:NEM) and Teck Resources’ (TSX: TECK.B) joint-venture Galore Creek, as well as the Bruck Mine and the Red Chris Mine. The expansion of these projects have led to a surge in development in infrastructure in the Golden Triangle, including highway upgrades, ocean port facilities, and completion of a $700 million high-voltage transmission line. Combined with rising gold prices and the success of existing mines, it is no wonder why visionary mining companies have renewed interest in the fabled Golden Triangle.
Aben Resources’ Forest Kerr Gold project located in the very heart of British Columbia’s Golden Triangle. This project is near the famous Eskay Creek and Galore Creek operations. Aben Resources also has ongoing interests in the Slocan Graphite project, which presents the company with the ability to capitalize off a looming graphite shortage and projected price hike. By having a diverse group of projects located in premier gold camps within Canada, Aben Resources remains anchored by gold exploration with some exposure to the energy metals space.
From a management perspective, Aben Resources is led by an experienced management team with decades of expertise in resource exploration and development. James Pettit, CEO, brings 25 years of industry experience specializing in corporate governance, finance and executive management. Donald Huston, Director and CFO, has 30 years of experience in the mineral exploration industry, having worked with numerous mineral exploration projects throughout North America. Meanwhile, Cornell McDowell, VP of Exploration, has his degree in geology and has been managing mineral exploration projects since graduation. Other staff members bring unique experience and qualifications that build confidence in Aben Resources.
Aben Resources’ focus for 2022 will be initiating exploration programs in Red Lake at the Pringle North Project in Ontario and in BC at the Slocan Graphite Project. The Company will continue to evaluate the Forrest Kerr Project in BC’s Golden Triangle and the Justin Project in the Yukon.
Aben Resources’ Forrest Kerr Gold project is located in the very heart of British Columbia’s Golden Triangle. Aben Resources has a 100 percent interest in the project, which consists of 23,397 hectares and is near Skeena Resources Eskay Creek, the historic Snip Mine, and Newmont’s and Teck Resources’ Galore Creek.
The project consists of 1,881 hectares, with Aben Resources having signed an agreement to gain 100 percent right, title and interest in the property. The Pringle North Project is located 55 kilometers north of the prolific Red Lake Gold Camp in Ontario and straddles the interpreted northern extension of the deep-seated geologic structures that host many of the gold deposits within the Red Lake Gold Camp. The newly termed ‘Red Lake Extension’ is a crustal-scale extensional feature identified by seismic reflection surveys and has been described by the Ministry of Energy, Northern Development and Mines as similar in nature and significance to the structures that host the Red Lake Gold Belt.
The Red Lake Mining Complex is located within the Red Lake greenstone belt of the Superior Tectonic Province. This belt is host to one of Canada’s largest and richest Archean gold deposits producing more than 26 million ounces of gold since the 1930s. The Red Lake Greenstone Belt is subdivided into several rock assemblages recording magmatic and sedimentary activities that occurred from 3.0 to 2.7 billion years ago.
The Justin Gold project is located in the southeast Yukon on the Tintina Gold Belt. The project covers 7,400 hectares, with Aben Resources having a 100 percent interest. Historic drilling has generated increased interest in this project, as drill holes have already intersected with gold mineralizations.
Jim Pettit has been President and Chief Executive Officer and a Director of Aben Resources Ltd. since November 2002. Pettit is currently serving on the board of directors of five publicly traded companies and offers over 25 years of experience within the industry specializing in finance, corporate governance, executive management and compliance. He was previously Chairman and C.E.O. of Bayfield Ventures Corp. which was bought by New Gold Inc. in January 2015.
Don Huston serves as a Director and acting Chief Financial Officer of Aben Resources Ltd. and has been associated with the mineral exploration industry for over 30 years. Huston has extensive experience as a financier and in-field manager of numerous mineral exploration projects in North America. He was born and raised in Red Lake, Ontario and spent 15 years as a geophysical contractor with C.D. Huston & Sons Ltd. as mineral exploration consultants in northern Ontario, Manitoba and Saskatchewan. He serves as a director of four Canadian public mineral resource companies.
Tim Termuende serves as a Director of Aben Resources Ltd. and is a professional geologist with over 30 years experience in the mineral exploration industry and is a Qualified Person as defined by National Instrument 43-101. Mr. Termuende is currently the President and Chief Executive Officer of Eagle Plains Resources Ltd. in addition to serving as a director of a number of other public companies.
Since earning his degree in Geological Sciences at the University of British Columbia in 1987, Mr. Termuende has worked on exploration projects throughout North, Central, and South America and has been personally involved in exploration within the Forrest Kerr, BC area in the early 1990’s. He has been continuously active in mineral exploration throughout western Canada since 1976, and currently oversees a broad range of ongoing exploration projects located throughout British Columbia, Saskatchewan, the Yukon and the Northwest Territories.
Cornell McDowell is a professional geologist registered in both Alberta and British Columbia and serves as Vice President of Exploration for Aben Resources Ltd. and is the Qualified Person. McDowell has been self-employed as a geological consultant since graduating with a Bachelor of Science (Specialization in Geology) from the University of Alberta in 2005. He has worked with both privately held and publicly listed mineral exploration corporations, most recently with Gold Reach Resources on the Ootsa Project, where in excess of 100,000 meters of drilling has advanced the project from initial stage through resource development to the delivery of a positive PEA. He also serves on the Board of Directors and Audit Committee for Manson Creek Resources Ltd.
Aben Resources Ltd. (TSXV:ABN) (OTCQB:ABNAF) (Frankfurt:E2L2) (“Aben” or “the Company”) announces that it has implemented operational procedures across the company to protect the health of its office staff, field crews, contractors, stakeholders, and local communities during the COVID-19 global pandemic. In order to mitigate the potential effects of COVID-19, office and field staff, where possible, have been working from home per government advisories and the Company expects them to remain working remotely until such advisories have been lifted. Plans for field work for 2020 will be evaluated and updated as the current COVID-19 situation evolves. Aben Resources remains well-financed with over CAD$1.2 million in the Treasury. The company is continually monitoring the COVID-19 situation and considers the health and safety of staff and all stakeholders as paramount.
The company also announces the resignation of Donald G. Myers as Director of the Company to focus on other endeavours. Aben Resources expresses its appreciation to Mr. Myers for his many years of service and his key role in the development of the company.
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.2 million in the Company’s treasury.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com
“Jim Pettit” ______________________ JAMES G. PETTIT President & CEO
For further information contact myself or: Simon Dyakowski Aben Resources Ltd. Strategic Advisor Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Click here to connect with Aben Resources Ltd. (TSXV:ABN, OTC:ABNAF, FRA:E2L2) for an Investor Presentation.
Aben Resources Ltd. (TSXV:ABN, OTCQB:ABNAF, Frankfurt:E2L2) (“Aben” or “the Company”) has received and interpreted analytical results from the final seven drill holes (FK19-64 to 70) of the 2019 drill exploration program conducted at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia. Five of these drill holes were collared in the far south of the Boundary Valley with two holes completed at the Forrest prospect, located 14 km SSW from Boundary. The second and final phase of drilling in 2019 tested for precious and base-metal mineralization associated with structures and along geologic contacts located outboard from known mineralization toward the margins of the large hydrothermal system present on this part of the Forrest Kerr Property.
Forrest Kerr Project, Golden Triangle, B.C., location map:
Holes FK19-64 & 65, drilled in a scissor pattern, further delineated a consistently gold- mineralized corridor at South Boundary that measures greater than 500 meters along strike by 150 meters across. The mineralized corridor shows consistent mineralization which has been encountered in multiple (7) drill holes. The zone remains open to the north, south and at depth. The zone disappears under considerable cover to the north but geophysical data indicates that it likely extends several hundred meters toward the high-grade gold occurrence discovered at North Boundary (1.5 km North). FK19-64 averaged 0.17 g/t Au over 100m (31.0-131.0m depth), with gold values ranging from trace to a high of 4.09 g/t Au over 1.0m. FK19-65 returned an average grade of 0.13 g/t Au over 71.0 meters (274.0-345.0m downhole depth).
A cross-sectional view of the gold mineralization present in holes 62 through 65 is linked below.
Forrest Kerr Cross Section for Holes FK19-62 to FK19-65:
Holes FK19-66 to 68 tested the outer margins of a complex structural zone that dominates the southern extent of the Boundary valley. Hole 66 intersected widespread moderate to strong alteration associated with breccias and sheared horizons. A 1m wide quartz vein at 133.0m depth returned 0.65 g/t Au, 33.60 g/t Ag, 3070 ppm Pb and 13,150 ppm Zn within a 6m envelope that averaged 8.10 g/t Ag. Hole 67 encountered anomalous 1m gold values of up to 0.12 g/t, while Hole 68 (drilled from the same pad) intersected intermittent anomalous gold values ranging from trace to 0.54 g/t Au.
Forrest Kerr South Boundary Zone Drill Hole map:
The final two drill holes of 2019 were completed at the Forrest zone, located 14km south of the Boundary Valley. Targeting a strong gold-in-soil anomaly and a distinct conductive anomaly identified in a 2013 airborne VTEM geophysical survey, Hole FK 19-69 encountered intrusive and sedimentary rocks with strong to moderate alteration throughout. The hole was stopped at a downhole depth of 392m in a strongly sheared limestone unit due to difficult drilling conditions and allowed for only a partial test of the geophysical conductor. The hole did not encounter significant mineralization. Hole FK 19-70 intersected the upper portion of the soil anomaly and returned 0.46 g/t Au and 1.13 g/t Ag over 10 meters (93-103m depth) from a quartz-veined horizon.
The completion of drilling satisfies the final expenditure requirements outlined in the 2016 Option Agreement on the Forrest claim block and thereby enables Aben to claim 100% ownership of the Forrest Kerr Property.
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project: https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf
Analytical and QA/QC description:
All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.5 million in the Company’s treasury.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
“Jim Pettit” JAMES G. PETTIT President & CEO
For further information contact myself or: Don Myers Aben Resources Ltd. Director, Corporate Communications Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Click here to connect with Aben Resources Ltd. (TSXV:ABN, OTC:ABNAF, FRA:E2L2) for an Investor Presentation.
Aben Resources Ltd. (TSXV:ABN, OTCQB:ABNAF, Frankfurt:E2L2) (“Aben” or “the Company”) has received and interpreted additional analytical results from drill holes FK19-55 through FK19-63. These results are from the 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia. This release reports on drill holes located within the Boundary Valley but distal to the main mineralized zone at North Boundary. Part of a second phase of drilling, these holes tested for precious and base metal mineralization along geologic structures and contacts located outboard from known mineralization toward the margins of the large hydrothermal system present on this part of the Forrest Kerr Property.
The 2019 drill program sought to increase the mineralized footprint in the Boundary valley, test outlying fault and shear structures for potential mineralization and to ultimately vector toward a heat and mineralizing source for the focused high-grade precious and base metal mineralization recently discovered on the Property.
Forrest Kerr Project, Golden Triangle, B.C., location map: https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Drill hole FK19-55 (250, -80), a sub-vertical hole collared in the Cracko zone, tested for polymetallic mineralization at depth near the southern limit of the North Boundary zone (450 m south of the mineralized center). 26 separate meter-long intervals returned Au values between 0.10 and 1.26 g/t Au with periodic Ag-Cu+/- Zn mineralization. Hole 55 was the deepest hole drilled on the Property thus far (525 meters vertical depth) and shows the mineralized zone at North Boundary that now measures 750 m x 250 m is still highly prospective at depth.
Forrest Kerr North Boundary Mineralized Plan View map: https://abenresources.com/site/assets/files/4855/abn_n_boundary_min_plan_view.jpg
Drill holes FK19-56→58 were collared from the same pad to target mineralization associated with the Cracko fault. Holes 56 & 57 failed to cross this important structure and were abandoned prior to the target depth. Hole 56 encountered multiple isolated mineralized horizons that returned a range of polymetallic mineralization including Au (trace to 3.08 g/t), Ag (trace to 5.1 g/t), Cu (trace to 13,550 ppm) and Zn (trace to 20,600 ppm). Hole FK19-57 did not discover significant mineralization before being abandoned at 138 meters. Hole FK19-58, drilled more Easterly and at a steeper dip (090, -55) than the previous two holes, crossed the fault and ended within a poorly mineralized and intensely sericite altered rock package.
Drill holes FK19-59→61 were drilled in a fan pattern at South Boundary, located 2.5 km south of the main mineralized core at North Boundary. These three holes tested the flanks and breadth of multiple fault and shear structures within an area that represents a major structural culmination within the Boundary valley. Holes 59 and 60, drilled NNE at a -45 degree dip, encountered multiple disjunct horizons with modest Au grades (< 1.0 g/t). Hole FK19-61 (090, -48) was drilled across a major structural intersection outlined by an airborne magnetic survey completed in May 2019. This hole intersected multiple 1-meter intervals of modest Au (trace to 0.79 g/t) and Ag (trace to 11.4 g/t) mineralization with intermittent spikes in Pb (trace to 15,500 ppm) and Zn (trace to 58,800 ppm). Of note and potential importance in hole 61 was the discovery of a strongly pyritic bedded sedimentary sequence between two prominent NE trending lineations. This style of deposition and mineralization has characteristics of VMS-style stratiform mineralization found in rift environments, such as the Eskay Creek deposit, located 30 km to the Southeast. This style of mineralization had not been previously observed by Aben personnel on the Property and will be closely examined and followed up with field work and potential drill testing.
Drill holes FK19-62 & 63 were also drilled at South Boundary, about 500 m North of holes 59 → 61 and 300 m South of holes FK18-19, 20 & 21 (reported October 16, 2018). Both holes intersected coherent zones of modest grade gold mineralization with hole 62 (110, -45) reporting an average of 0.12 g/t Au between 78-135 meters (57 m) and hole 63 (110, -55) returning 0.10 g/t Au between 75-125 meters (50 m). Hole FK19-62 also encountered a separate zone between 291-337 meters that returned an average grade of 0.12 g/t Au over 46 m. Both holes intersected isolated horizons of strong Ag-Cu-Zn mineralization. The apparent mineralized corridor defined by gold values in holes 19, 20, 21, 62 & 63 measures in excess of 500 m in strike length over a lateral distance between 100-150 m. It is open toward the North and South and at depth.
Jim Pettit, President and CEO of Aben Resources states, “We are pleased with the progress of exploration to date as we have now defined gold mineralization at North Boundary over an area measuring roughly 750 x 250 meters that is still open at depth. We have also discovered a second 500-meter mineralized corridor at the South Boundary Zone that is open to the North and South as well as at depth. We drilled a zone at the southern margins of South Boundary that displays characteristics of VMS-style mineralization, a mineralization style not previously observed in the Boundary Valley. This newly found occurrence could prove to be significant and is indicative of the strength of the hydrothermal system present at Forrest Kerr with the presence of high-grade mesothermal veins and widespread porphyry-style alteration and mineralization. Aben has amassed a sizeable and growing database on the Forrest Kerr Property and we look forward to receiving analytical data from the remaining seven holes of the season.”
The 2019 exploration season has now concluded with over 9600 meters drilled in 25 drill holes. Thus far, drilling at Forrest Kerr has only tested a small portion of known targets defined by rock, soil and geophysical anomalies. Base and precious metal mineralization has now been defined over an area measuring in excess of 750m x 250m at North Boundary and 500m x 150m at South Boundary. Mineralization corresponds to multiple and widespread fault and shear zone structures within a panel of Jurassic Hazelton rocks that dominate the Boundary valley.
Forrest Kerr North & South Boundary Zone Drill Hole map: https://www.abenresources.com/site/assets/files/4826/abn_boundary_drill_plan_october_21.1024×0.jpg
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project: https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf
Forrest Kerr Project Exploration Target map: https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png
Analytical and QA/QC description:
All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.5 million in the Company’s treasury.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
“Jim Pettit” JAMES G. PETTIT President & CEO
For further information contact myself or: Don Myers Aben Resources Ltd. Director, Corporate Communications Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Click here to connect with Aben Resources Ltd. (TSXV:ABN, OTC:ABNAF, FRA:E2L2) for an Investor Presentation.
Aben Resources Ltd. (TSXV:ABN, OTCQB:ABNAF, Frankfurt:E2L2) (“Aben” or “the Company”) has received and interpreted additional analytical results from the ongoing 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia. The latest results continue to outline widespread polymetallic mineralization throughout the North Boundary Zone. These results are from 5 drill holes located at the margins and well outboard of the main mineralized core at North Boundary.
Forrest Kerr Project, Golden Triangle, B.C., location map: https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
Highlights from hole FK19-52 include a 16 meter (m) interval (between 323-339m) that averaged 2.22 g/t Au, 2.39 g/t Ag and 3050 ppm Cu. Included in this zone are two separate 1m high-grade intervals of 19.85 g/t Au, 9.10 g/t Ag, 6810 ppm Cu and 11.30 g/t Au, 8.70 g/t Ag & 14900 ppm Cu. This mineralized zone was encountered roughly 100m below and 50m southward of historic high-grade gold mineralization discovered in 1991 (reported as 326.0 g/t Au over 1m by Noranda). Other discrete 1m intercepts from hole 52 include highs of 20.1 g/t Ag, 6.0% Cu, 0.76% Pb and 0.87% Zn. Hole FK19-53 intersected multiple zones of anomalous gold (>0.2 g/t) with the most coherent zone between 346-364m (18m) returning average values of 1.24 g/t Au, 2.47 g/t Ag and 3459 ppm Cu. Included in this zone are two 1m high-grade intervals of 5.72 g/t Au, 8.70 g/t Ag and 5860 ppm Cu and 8.09 g/t Au, 5.40 g/t Ag & 14200 ppm Cu. This zone is significant as it occurs on the West side of the Nelson Creek fault, which previously lacked evidence of precious and base metal mineralization. Hole FK19-54 was drilled in the same direction at a steeper dip angle (-60) than hole 53 and also intersected several 1 to 2m intervals of modest grade polymetallic mineralization. Between 203-215m (12m) gold averaged 1.05 g/t, silver 1.71 g/t and copper 2108 ppm (with individual highs of 7.14 g/t Au, 4.80 g/t Ag and 11550 ppm Cu over 1m). The mineralization encountered in holes 53 & 54 was discovered roughly 450m south of the main high-grade gold discoveries at North Boundary.
Base and precious metal mineralization has now been defined over an area measuring in excess of 600m x 250m at North Boundary (see map link below). Mineralization corresponds to multiple and widespread fault and shear zone structures within a panel of Jurassic Hazelton rocks that dominate the Boundary valley. The mineralized structures correlate very well with magnetic highs that were delineated by an airborne survey flown in May 2019. The 2019 drill program will focus on increasing the mineralized footprint in the Boundary valley and will seek to discover a heat and mineralizing source for the robust hydrothermal system present on this part of the property. As a result, analytical results are expected to continue to exhibit a range of values from trace to high-grade.
Forrest Kerr North Boundary Mineralized Plan View map: https://abenresources.com/site/assets/files/1/ABN-N-Boundary-Min-Plan-View.jpg
Over 8000 meters have now been drilled in 21 holes with a projected seasonal total close to 10,000 meters by the end of September. Thus far, drilling at Forrest Kerr has only tested a small portion of known targets defined by rock, soil and geophysical anomalies. A brief summary of all of the holes included in this release can be found below.
Forrest Kerr North Boundary Zone Drill Hole map: https://abenresources.com/site/assets/files/4855/abn_2019_north_boundary_drilling_sept.jpg
FK19-47 (110/-60) – Drilled from the same pad as FK19-46 (previously reported August 20, 2019 at 0.12 g/t Au over 500.5 meters) at a steeper dip to test for continuity of mineralization below 47 and between the main mineralized zone at North Boundary and historic high-grade gold mineralization reported by Noranda in 1991 (326.0 g/t Au over 1 meter). Hole 47 encountered multiple modest-grade gold (<1g/t Au) intercepts with intermittent Ag-Cu-Pb-Zn mineralization. Analytical results returned by both 46 & 47 have pushed the edge of known mineralization substantially Eastward.
FK19-48 (135/-45) – Drilled from a location 100 meters North of the main mineralized zone at North Boundary to test for potential Northeastward extension of mineralization. This hole failed to intersect significant precious metal mineralization.
FK19-49 (195/-57) – Drilled from the same pad as FK19-50 (previously reported August 20,2019 0.46 g/t Au over 61.7 meters starting at 188.0 m) at a shallower dip. Both holes 49 & 50 were planned to test for the downward extension of a mineralized horizon discovered in 2018 (holes FK18-17 & 18) situated approximately 50 meters NW of high-grade Au-Ag-Cu mineralization at North Boundary. Hole 49 intersected weaker gold mineralization (0.52 g/t Au over 8m) than the steeper hole 50 but the combined result of the two holes shows a 20+m extension to the zone encountered in 17 & 18.
FK19-52 (310/-55) – Located roughly 500m from the main mineralized core at North Boundary and drilled from the same pad at a steeper dip than the previously reported hole FK19-51. Both holes were drilled oblique to the roughly North-South mineralized corridor to test for the southward extension of mineralization and depth potential under historically reported mineralization. Several discrete horizons of base and precious metal mineralization were reported from this hole. From 323-339 m (16m interval) average grades were 2.22 g/t Au, Ag 2.39 g/t and 3050 ppm Cu. Included in this zone are two separate 1m high-grade intervals of 19.85 g/t Au, 9.10 g/t Ag, 6810 ppm Cu and 11.30 g/t Au, 8.70 g/t Ag & 14900 ppm Cu. The entire hole returned an average of 0.11 g/t Au over 469.0 meters.
FK19-53 (250/-45) – Collared from the same pad as holes 51 & 52 but drilled WSW to test for mineralization potential within and adjacent to several sub-parallel fault and shear structures. Between 346-364m this hole returned 1.24 g/t Au, 2.47 g/t Ag and 3459 ppm Cu over 18 meters. Included in this zone are two 1m high-grade intervals of 5.72 g/t Au, 8.70 g/t Ag, 5860 ppm Cuand 8.09 g/t Au, 5.40 g/t Ag & 14200 ppm Cu. Multiple other moderate to high-grade intercepts of Au, Ag, Cu and Zn mineralization were encountered with an overall average of 0.10 g/t Au over 430.5 meters.
FK19-54 (250/-60) – This hole undercut the precious and base metal mineralization encountered in hole 53 at a steeper dip. Several samples returned elevated precious and base metal intercepts from discrete zones with the most coherent zone between 203-215m depth (averaging 1.05 g/t Au, 1.71 g/t Ag and 2108 ppm Cu over 12m), including 1m highs of 7.14 g/t Au, 4.80 g/t Ag and 11550 ppm Cu.
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project: https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf
Forrest Kerr Project Exploration Target map: https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png
Analytical and QA/QC description:
All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.
Justin Property, Yukon royalty renegotiation
The Company reported today that it had entered into a Settlement Agreement with Sandstorm Gold Ltd. (“Sandstorm”), pursuant to which the parties have renegotiated the terms of certain royalty agreements over the Company’s 100% owned Justin and Hit Properties in the Yukon. As a term of the Settlement Agreement, the Company will issue 750,000 shares to Sandstorm as partial consideration for the cancellation of certain advance royalty obligations and the creation of new royalty agreements with Sandstorm. Additional consideration for the Settlement Agreement is the assignment by the Company to Sandstorm of various royalty buyback rights held by the Company. As a result of the Settlement Agreement, the royalty obligation to Sandstorm on the Justin and Hit Properties has been reduced from 3% to 2% and the obligation to make advance royalty payments has been terminated. The Settlement Agreement and closing are subject to approval of the transaction by the TSX Venture Exchange.
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $3 million in the Company’s treasury.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
“Jim Pettit” JAMES G. PETTIT President & CEO
For further information contact myself or: Don Myers Aben Resources Ltd. Director, Corporate Communications Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Click here to connect with Aben Resources Ltd. (TSXV:ABN, OTC:ABNAF, FRA:E2L2) for an Investor Presentation.
Aben Resources Ltd. (TSXV:ABN, OTCQB:ABNAF, Frankfurt:E2L2) (“Aben” or “the Company”) has received analytical results from the the first shipment of drill core from the 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia.
Forrest Kerr Project, Golden Triangle, B.C., location map: https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
5000+m has now been completed in 10 holes, with numerous sample shipments now in the laboratory. Based on the encouraging results obtained to date, Aben had elected to expand the budget for the program and intends to continue drilling into September.
Forrest Kerr Project North Boundary Zone map – August 2019: https://abenresources.com/site/assets/files/4855/nboundary2019drillingaug7.jpg
The goal of the 2019 drill program is to test a specific area of the North Boundary Zone as well as the area around the historic “Noranda hole” and a corresponding new zone of sericite alteration located south of the Noranda hole. These initial results are from three widely spaced holes located peripheral to the main zone of mineralization at North Boundary. Each hole encountered variable and intermittent polymetallic mineralization within the Hazelton volcanic/sub-volcanic sequence (brief hole descriptions are summarized below). Mineralization corresponds to multiple and widespread fault and shear zone structures within a panel of Jurassic Hazelton rocks that dominate the Boundary valley. The mineralized structures correlate very well with magnetic highs that were delineated by an airborne survey flown in May 2019. Thus far, drilling in this part of the Forrest Kerr Property has only tested a small portion of the potentially mineralized structures defined by the magnetic survey.
Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project: https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf
FK19-46 (110/-45) — Drilled oblique to the main mineralized corridor at North Boundary to test for continuity of mineralization between recently discovered mineralization and historic high-grade gold mineralization reported by Noranda in 1991 (326.0 g/t Au over 1 meter). This hole encountered multiple mineralized horizons with an overall average of 0.12 g/t Au over its entire length of 500.5 meters (m) (including 12.4 g/t Au between 203-204m).
FK19-50 (195/-65) – Drilled to test for the downward extension of a mineralized horizon discovered in 2018 (holes FK18-17 & 18) situated 50 meters NW of high-grade Au-Ag-Cu mineralization at North Boundary. The mineralized horizon is characterized by intermittent higher-grade gold intercepts within broad lower grade envelopes associated with fractures and fault structures. The zone remains open to the NW.
Click here to view full image
FK19-51 (310/-45) – Located some 500m from the main mineralized core at North Boundary, this hole was drilled oblique to the roughly North-South mineralized corridor to test for southward extension of mineralization and depth potential under historically reported mineralization. Multiple and sporadic Au-Ag-Cu-Pb-Zn intercepts were reported with strong widespread QSP alteration that appears to overprint earlier potassic alteration. Quartz-sulfide-hematite veins are also prevalent in this area, an important host to mineralization on this part of the property. Gold mineralization, although common, was generally low grade in this hole and not as strongly correlated to the repetitive sequences of copper mineralization. Hole FK19-52 was drilled from the same set-up at a steeper dip with assay results pending.
Aben’s President and CEO, Jim Pettit says: “We are off to a great start for the 2019 drill season. We have some exciting theories to test from the analysis of the last few years drill results as well as our new geophysical survey results. As we work our way south of the mineralized core of the North Boundary Zone, we are looking for potential connectivity with the historic, high-grade gold discovery made by Noranda in 1991. As noted from the description of Hole FK19-51, we have been drilling a highly altered zone of mineralization a few hundred meters south of the Noranda hole. The style of alteration and mineralization in this Zone has a strong association with elevated gold values in the region as well as a strong copper mineralization represented by chalcopyrite. The mineralization in this type of setting is definitely something we want to chase.”
Forrest Kerr Project Exploration Target map: https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png
Soil Sampling Map at Forrest Zone: https://www.abenresources.com/site/assets/files/4299/abn-forrest-kerr-soil-2017_1024x0.jpg
2019 drilling consisted of 4 diamond drill-holes (963m) testing the POW Zone while 20 rotary air-blast (“RAB”) holes (592m) tested the Lost Ace Zone. At the POW Zone, drilling targeted a magnetic geophysical feature inferred to be associated with skarn alteration and sulphide mineralization. JN19020 and -021 are approximately 125 m step-outs from holes drilled during the 2011 and 2012 campaigns. Both holes intersected zones of massive sulphide, sulphide-mineralized skarn and mineralized quartz veins. Results include 1.5 g/t Au over 15.4 m (165.0-180.4 m) including 10.5 g/t Au over 1.2 m in JN19020 and 0.9 g/t Au over 3.3 m (250.5-253.8 m) including 3.5 g/t Au over 0.8 m in hole JN19021. JN19031 which tested the POW Zone magnetic “wedge” anomaly did not return significant results. At this stage the source of the anomaly is unclear, and the target remains open. JN19039 was drilled to test the mineralization potential of the Justin Fault and variably mineralized sheeted quartz veins within the Justin Intrusion. The mineralized intersection of the Justin Fault returned 0.2 g/t Au over 9.5 m (35.5 – 45.0m). The sheeted quartz veins of the Justin Intrusion, which are comparable to veins observed in surface trenching from 2014 (TR14-001), returned 0.4 g/t Au over 7.3 m (52.0-59.3 m) including 1.8 g/t over 0.6 m (sample JN19039-035; 58.7-59.3m).
Select diamond drill samples were sent to a referee lab for re-analysis. The decision was made after the first round of analysis returned results that were unexpected through zones of massive sulphide and sulphide mineralized skarn. The results from the re-analysis are in agreement with the initial results.
RAB drilling at the Lost Ace Zone was successful in intersecting the mineralized phyllite/quartz-pebble conglomerate contact discovered through surface geochemical surveys, prospecting and mapping during the 2017 and 2018 programs. Results will allow for an updated interpretation of the contact geometry and mineralization potential at depth. Results include 0.9 g/t Au over 1.5 m (19.8-21.3 m) in hole JN19026 and 0.5 g/t Au over 3.0 m (12.2-15.2 m) in hole JN19029. RAB drilling at the POW zone targeted near-surface pyrite-arsenopyrite ± galena veins first observed in DDH JN19021. Results include 0.2 g/t over 1.5 m (29.0-30.5 m) in hole JN19042. Sampling was hindered by extremely wet hole conditions, which may reduce the reliability of analytical results.
Justin Gold Project, Yukon location map: https://www.abenresources.com/site/assets/files/4303/abn_justin_project_-_property_location_2017_small.jpg
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $5 million in the Company’s treasury and approximately 116.7 million shares issued and outstanding.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
“Jim Pettit” JAMES G. PETTIT President & CEO
For further information contact myself or: Don Myers Aben Resources Ltd. Director, Corporate Communications Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@abenresources.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.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Click here to connect with Aben Resources Ltd. (TSXV:ABN, OTC:ABNAF, FRA:E2L2) for an Investor Presentation.
Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with certain subsidiaries of Glencore plc ("Glencore") (LSE: GLEN) to terminate its silver stream on the Yauliyacu Mine in Peru for a cash payment of US$150 million , less the aggregate value of any deliveries to Wheaton of silver produced in 2022 prior to closing. Wheaton has agreed to terminate the stream in order to help facilitate the sale by Glencore of the Yauliyacu Mine.
"Yauliyacu has been part of Wheaton's portfolio since 2006 and has been integral to the history of our company. Combined with San Dimas and Zinkgruvan, Yauliyacu gave us the scale to grow the streaming business and become the company we are today," said Randy Smallwood , Wheaton's President and Chief Executive Officer. "Consistent with a core principle of working with our partners, Wheaton has agreed to terminate the stream, adding even more financial capacity to explore new opportunities that we believe are in the best interests of our shareholders. Glencore was one of the first mining companies to recognize the value that is created for all stakeholders through the streaming model, and we thank them for their stewardship of this project and look forward to maintaining our strong partnership on existing and potential future developments."
Wheaton acquired the silver stream on the Yauliyacu Mine in 2006 for an upfront consideration of US$285 million and has subsequently generated over US$485 million in cash flow from the stream. Combined with the termination payment, Wheaton will have generated an absolute return of over 220% of the original investment.
The closing of the transaction is contingent on Glencore divesting the Yauliyacu mine by December 31, 2022 1 and is subject to other customary conditions.
As a result of the transaction, Wheaton now expects average annual production for the five-year period ending December 31, 2026 , to be approximately 800,000 gold equivalent ounces 2 ("GEOs") (from 820,000 previously) and for the ten-year period ending December 31, 2031 , to be approximately 850,000 GEOs (from 870,000 previously). Production in 2022 is expected to remain between 640,000 and 680,000 GEOs.
End Notes ________________________ 1 Glencore has the option, but not the obligation, to terminate the silver stream even if it does not divest Yauliyacu by December 31, 2022 . 2 Commodity price assumptions for the gold equivalent production and sales in 2022 are $1,800 / ounce gold, $24 / ounce silver, and $2,100 / ounce palladium and $33 / pound cobalt. Other metal includes palladium and cobalt.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's precious metals purchase agreement ("PMPA ") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, the termination of the Yauliyacu silver stream for $150 million , the value of silver produced and delivered after January 1, 2022 and the satisfaction of each party's obligations in accordance with definitive documentation relating to the termination of the Yauliyacu silver stream. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks associated with any specific risks relating to the termination of the Yauliyacu silver stream and the satisfaction of each party's obligations in accordance with the terms of the definitive documentation relating to the termination of the Keno Hill silver stream, and other risks discussed in the section entitled "Description of the Business – Risk Factors" in Wheaton's Annual Information Form available on SEDAR at www.sedar.com , and in Wheaton's Form 40-F for the year ended December 31, 2021 and Form 6-K filed March 10, 2022 both available on EDGAR at www.sec.gov , as well as the risks set out in Wheaton's management's discussions and analysis for the period ended December 31, 2021 available on SEDAR and EDGAR (together, the "Disclosure"). Forward-looking statements are based on assumptions management currently believes to be reasonable, including (without limitation): the receipt of $150 million from Glencore, the estimated value of silver to be produced and delivered after January 1, 2022 and the satisfaction of each party's obligations in accordance with the terms of the definitive documentation relating to the termination of the Yauliyacu silver stream, and such other assumptions and factors as set out in the Disclosure. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Wheaton. Readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing readers with information to assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any forward-looking statement speaks only as of the date on which it is made, reflects Wheaton's management's current beliefs based on current information and will not be updated except in accordance with applicable securities laws. Although Wheaton has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward‑looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended.
View original content: https://www.prnewswire.com/news-releases/wheaton-precious-metals-enters-into-agreement-to-terminate-its-existing-silver-stream-on-the-yauliyacu-mine-301608913.html
SOURCE Wheaton Precious Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/August2022/18/c2065.html
News Provided by Canada Newswire via QuoteMedia
Impact Minerals’ Managing Director Dr Mike Jones said “These are the first detailed soil geochemistry results we have had from the hitherto poorly explored greater Arkun project area and confirm our belief that the area is very prospective for a range of battery, strategic and precious metals. In addition, it is a validation of our targeting methodology which we have applied across our extensive project portfolio in Western Australia and put together over the past 18 months”.
“A large nickel-copper-PGM anomaly overlies previously unidentified layered mafic intrusive rocks; these are known hosts to significant massive sulphide deposits around the globe. In addition, we have identified a gold anomaly that is associated with rare earth responses and which may be part of a large intrusion-related system. To cap it all off, we also have identified two areas with significant responses for a range of metals associated with a zoned lithium pegmatite system. Follow-up field checking will commence later this month in order to define targets for first-pass drilling as soon as practicable and to identify the bedrock which is mostly obscured by laterite. We also look forward to getting the results from a further 600 soil samples that are still to come from the northern part of the Arkun project”.
Location of Impact's projects in Western Australia
Previous work by Impact across the Arkun and Beau project areas using a proprietary geophysical-geochemical technology owned by Southern Sky Energy Pty Ltd, identified 17 broad areas of interest, principally for Ni-Cu- PGM mineralisation, for follow-up work (ASX Release 10th June 2021).
Reconnaissance soil geochemistry traverses along gazetted roads and tracks over 15 of these targets identified a total of 22 more specific targets for both Ni-Cu-PGM mineralisation and, for the first time in the area, lithium- caesium-tantalum pegmatites and Rare Earth Elements (REE). A number of the original targets returned anomalous soil results for more than one style of mineralisation. Targets for both Ni-Cu-PGM and lithium were identified at Beau.
Click here for the full ASX Release
This article includes content from Impact Minerals Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Frank Trotter: New Bank with Rick Rule Coming Soon, This is Why it's Neededyoutu.be
With a long history in the banking industry, Frank Trotter knows what works and what doesn't.
Speaking to the Investing News Network, Trotter described his involvement with Mark Twain Banks in the 1980s and 1990s, as well as his role as co-founder of everBank.com, which was acquired by EverBank Financial in 2004.
Now as president of Battle Financial, he's launching Battle Bank, whose goals include fee transparency and unique offerings for customers looking for products outside the traditional banking sphere.
"When we started everBank.com 20 years ago, we looked out at the landscape and we saw most of the big banks not paying any interest, charging fees, (providing) poor customer service," he said on the sidelines of the Rule Symposium. "And what's amazing is 20 years later that's really the same."
Battle Bank's products will include high-value checking and savings products, foreign currency deposits and precious metals trading and lending services, which Trotter highlighted as particularly noteworthy.
"I think one of the unique things we'll be doing is lending against precious metals," he commented. "People like a little liquidity in their gold or silver, platinum or palladium, and there's really not a lot of options. We're excited about being able to do that in a secure way."
The board of Battle Bank includes veteran investor and speculator Rick Rule, who Trotter said is excited to see the new financial institution debut. A launch date hasn't yet been set, but a waitlist is available as Battle Bank continues to raise capital with accredited investors.
Watch the interview above for more from Trotter, or click here for the full Rule Symposium playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Company Further Embeds ESG and Sustainability into Its Future Strategy
Newmont Corporation (NYSE: NEM, TSX: NGT) has announced Peter Toth as Chief Strategy and Sustainability Officer following the retirement of Chief Sustainability & External Affairs Officer Stephen Gottesfeld after 25 years of dedicated service to the Company.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220817005349/en/
Peter Toth, Newmont Corporation (Photo: Business Wire)
Newmont has long been a leader in sustainable and responsible mining, and considers environmental, social and governance (ESG) practices to be fundamental to the way in which it operates. With the appointment of Peter Toth, the Company will further incorporate these critical elements into its future strategy. In October 2021, Newmont announced that Peter Toth , a 25-year veteran of the industry, would join the Company as Executive Vice President, Strategic Development. Peter has extensive experience with integrating sustainability practices into broader corporate strategies, having led the development of Rio Tinto's 10-year climate strategy in support of their ambition of reaching net zero by 2050.
"We are extremely thankful to Steve for his dedication and service to Newmont. He has been a key driver of our strategic approach to sustainability during a transformative period in Newmont's 101-year history. Throughout his career, Steve has provided a lasting contribution to Newmont with his commitment to our values, development of exceptional teams and leaders, and trusted counsel to our Board and Executive Leadership Teams," said Newmont's President and CEO Tom Palmer. "I am pleased that we are able to turn to a deep bench of sustainability and external relations leaders to support Peter Toth, who will continue to embed ESG and sustainability into our approach to strategic development. ESG and sustainability performance remains critical to our future strategy and success."
Stephen Gottesfeld joined Newmont in 1997, as Senior Counsel. Over the course of his career, Steve served on multiple Executive Leadership Teams and as the Company's General Counsel for more than 10 years before leading the Company's Sustainability & External Relations and Communications functions in 2019. During Steve's tenure, the Company meaningfully strengthened its global sustainability strategy and ESG practices, and it is a recognized industry leader, including its commitments to robust and transparent reporting, 2030 science-based, emissions reduction targets, and goal to be carbon neutral by 2050.
Learn more about Newmont's leading sustainability practices and performance in its annual Sustainability Report .
Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, visit our annual Sustainability Report at www.newmont.com .
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Media Contact Courtney Boone 303.837.5159 courtney.boone@newmont.com
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GoldMining: Gold Equities Caught in Broad Selloff, Sentiment Will Reboundyoutu.be
Although gold's performance in 2022 has disappointed some investors, the yellow metal's price is still high by historical standards and it remains a safe haven in tumultuous times.
Speaking to the Investing News Network at the Rule Symposium, Alastair Still, CEO of GoldMining (TSX:GOLD,NYSEAMERICAN:GLDG), pointed out that general market activity has weighed on gold.
"There's been a little bit of fear out there — there's concerns about inflation, talk of recession … people are trying to navigate the waters. It can get a little complicated," he said at the event, held at the end of July.
"I think a lot of gold equities in particular have been caught in a broad selloff, and maybe gold somewhat the same way," Still continued. "The sentiment for gold I think will rebound — it's traditionally been a great hedge against inflation, and people will go to that as more of a safe-harbor investment to protect themselves."
Inflation is a concern not only for investors, but also for mining companies. Speaking about how GoldMining has been affected, Still said the company has been relatively sheltered compared to major miners.
"Fortunately for us it has less of an impact, because we have less of our costs being put into the projects right now than a major company," he explained.
That's not to say the company isn't moving forward at its assets. Key focuses right now are GoldMining's Whistler gold-copper project in Alaska, and its Colombia-based La Mina project, where a preliminary economic assessment was completed earlier this year. Still also mentioned GoldMining's recent partnership with NevGold (TSXV:NAU,OTCQX:NAUFF) on its Almaden project in Idaho.
Watch the video above for more from Still on GoldMining, as well as why he transitioned to exploration after decades working at large mining firms. You can also click here for the full Rule Symposium playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Tempus Resources Ltd ("Tempus" or "the Company") (ASX:TMR)(TSX.V:TMRR)(OTCQB:TMRFF) is pleased to announce that it has intersected wide zones of mineralisation containing visible gold in two drill holes targeting the No. 9 Vein (EZ-22-19 and EZ-22-20) at the Elizabeth Gold Project in Southern British Columbia, Canada
Tempus Resources, President and CEO, Jason Bahnsen, commented" The visual indication of wide zones of mineralisation containing visible gold in both of our first drill-holes holes completed on No. 9 Vein is extremely encouraging. The No.9 vein has been subject to little exploration since it was discovered. With the addition of No. 9 Vein to Blue Vein and SW Vein we now have three closely spaced veins under development at Elizabeth. We are anxiously awaiting the assays."
The No. 9 Vein is a previously mapped vein approximately 120 metres north west of Blue Vein. Some limited exploration had been performed on No. 9 Vein in the 1940s and 1950s. However, records available to Tempus were not conclusive and the Company had never drilled the vein until these first two holes recently completed. Based on the exciting progress from EZ-22-19 and EZ-22-20, Tempus plans to complete five drill-holes on No. 9 Vein this drilling season.
The mineralisation observed in the drill core is summarised below.
Drillhole EZ-22-19 was completed to a depth of 201 metres and intersected two quartz veins.
Photo 1: No. 9 EZ-22-19 Drill Core Showing Visible Gold from 135.67 - 137.5m
EZ-22-20 was drilled on the same azimuth as EZ-22-19 (284 degrees) but at a steeper dip (67 degrees) to target the vein below the two quartz veins intercepted in EZ-22-19.
EZ-22-20 was drilled to a total depth of 270.00m. The hole intercepted a 25.75m zone of sheeted veins from 85.50m and a second quartz vein intersection of 2.25m from 206.45m.
See the interpreted cross-section in Figure 2 that shows the location of the observed quartz vein and visible gold intersections in drill holes EZ-22-19 and EZ-22-20. Figure 1 and Figure 3 show the location of the No. 9 vein parallel to and adjacent to the Blue Vein and the SW Vein.
With reference to the AIG 2015 guidance for visual reporting of massive sulphide mineralisation, the Company reports it has not encountered any massive sulphide mineralisation in drill hole EZ-22-19 or EZ-22-20. While it is not possible to accurately estimate the percentage of visual gold present though out the drill core, the Company suggests that the percentage would be less than the 0.01%. The Company cautions that visual observations of visible gold are not a proxy or substitute for laboratory analysis. Laboratory assays and analysis will be required to confirm the visual interpretations presented in this news release.
Figure 1 - Elizabeth Plan View Showing 2022 Drill Locations
Figure 2 - Interpretive X Section showing No. 9 Vein Drilling
Figure 3 - Elizabeth Vein Long Section (looking North)
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.
Tempus Resources LTD Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2022 dated May 16, 2022 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.
Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Table 1:Drill Hole Collar Table
*true thickness is estimated using a multiplier of 0.85. The Company considers anything over 0.2 g/t gold as significant.
Appendix 2: The following tables are providedto ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
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