An explorer that received good drill results last year is one of the first out of the gate to follow up this summer.
Industry watchers are keeping their eyes on summer drilling in British Columbia’s Golden Triangle for signs of the next GT Gold or Garibaldi Resources, both of whose shares leaped last year after the announcement of significant discoveries.
One company on the radar screen is Aben Resources Ltd. (ABN:TSX.V; ABNAF:OTCQB). Last year, Aben had some high-grade results, but due to getting a late start in the season, was not able to follow up immediately.
But this year, the company has hit the ground running, announcing on June 21 that it has mobilized field crews to its Forrest Kerr gold project and today reporting that it has begun its 5,000 meter diamond drill program consisting of approximately 18 holes.
The company noted that the “initial focus for the drill program will be to expand the high-grade precious metal mineralization discovered in 2017 at the Boundary North Zone, located near the center of the Forrest Kerr Property. Three separate drill holes, collared from the same drill pad, pierced a near-surface high-grade zone of gold-silver-copper mineralization, in addition to broad intercepts containing gold bearing quartz veins.”
Aben also stated that the company believes “the 2017 discovery demonstrates that the Boundary Zone has additional discovery potential for significant precious metal mineralization. This area of the Forrest Kerr Property hosts gold-silver-copper in rock and soil anomalies that span in excess of 2 km by 4km and remain relatively under-explored.”
Jim Pettit, the president and CEO of Aben, stated, “Notable regional discoveries by Pretium, GT Gold, Garibaldi Resources and others have illustrated the significant discovery upside remaining in the district and we are confident in the potential at Forrest Kerr given the newly discovered and historic high-grade mineralization there as well as the numerous untested gold-in-soil anomalies present.”
Numerous industry watchers have Aben in their sights. On June 19, Energy and Gold Ltd., in an article titled, “A Good Time To Get Into This Golden Triangle Gold Explorer,” noted that Aben is “flying out of the gate with plans to have the first batch of assays from its 5,000 Meter Drill Program (20 holes) out by late July.” It noted that “Golden Triangle exploration stocks have a strong tendency to deliver strong returns during the months of July and August. This seasonal pattern is due to the fact that these companies are actively drilling/releasing results during this time period, and also due to the fact that precious metals often perform well during July & August.”
“For the 2018 drilling season Aben expects to be one of the first exploration companies to release drill results. This should give Aben the advantage of having extra attention on it during the next couple of months and good results with the “truth machine” should in turn be well-rewarded by the market,” the article concluded.
Bob Moriarty of 321 Gold noted on June 19 that “Aben Resources was at $0.09 in June of 2017 and rocketed higher, with all of the Golden Triangle sisters, to a top of $0.495 before correcting to $0.105 in November as we drifted into the seasonal low at the end of the year.”
“Aben just began a 5,000-meter drill program at Forrest Kerr to follow up on the discovery from last year they call the Boundary zone. Look for assays coming from a variety of companies in the Golden Triangle to start hitting the market in just over a month. Hopefully with a tailwind from the price of gold and silver Aben Resources will duplicate last year’s action,” Moriarty stated.
Rick Mills of Ahead of the Herd wrote on June 23 that “these are exciting times for Aben and other juniors conducting exploration programs this summer in the Golden Triangle. While geological models, geophysics, soil and rock samples can all be excellent guides to the mineralization, there’s nothing like drilling to find out what really lies beneath. And the results can be surprising. Just look at Garibaldi Resources. Who would have thought that a nickel discovery would be made in an area known for gold-copper deposits? It’s the element of “anything can happen” that makes junior exploration so exciting. I can’t wait to see what Aben finds at North Boundary. That’s why Aben Resources and its Forrest Kerr property is on my radar screen.”
Thibaut Lepouttre, editor of Caesars Report, wrote on May 22, “Exploration isn’t an exact science, and all companies like Aben can do is increase their odds by identifying the projects (and the targets on those projects) with a good probability of hitting something. And we think that’s exactly what Aben Resources did in 2017 before the drill season in the Golden Triangle abruptly ended.”
He went on to comment that “with CA$3.5 million in cash and an improved understanding of the gold mineralization in British Columbia’s Golden Triangle compared to last year, Aben Resources seems to be ready to hit the ground running to follow up on the interesting drill results encountered at the Boundary zone in 2017.”
“Aben will be one of the first companies starting its field work in the Golden Triangle this year, so we would expect the company to be in the pole position to announce assay results throughout the summer. And having the first mover advantage could be important in this market, as it could allow the ‘early movers’ to retain the attention of the market,” Lepouttre concluded.
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1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an …read more
From:: Mining.com