Aben’s new gold zone

Mining News - The company said three holes tested the new Boundary North Zone, where one intercept returned 122m at 1.2g/t Au, 1.8g/t Ag and 0.21% Cu, including 6m at 21.5g/t Au, 28.5g/t Ag and 3.1% Cu.

It said the high-grade gold and silver mineralisation at North Boundary represented an exciting new target for further exploration and CEO Jim Pettit said the initial drilling had given the company "tremendous encouragement" for further exploration at Forrest Kerr next year.

Aben’s first four drill holes at Forrest Kerr, announced a month ago, included a hit of 10m at 6.7g/t gold and 0.9% fom 280m and sent stock to a 52-week high of C$0.50.

Shares in the company were in a trading halt pending the latest drilling news and resumed trade yesterday afternoon, dropping C$0.04 or almost 23% to close at $0.135, capitalising the company about C$7.6 million (US$5.9 million).

The company had cash and equivalents at June 30 of almost $1.5 million, compared with almost $50,000 at the end of September 2016.

Historic work on the 23,397ha property, a consolidation of Aben-controlled claims, has produced a database of 120 drill holes, 2,100 rock and 18,000 soil samples.